rate is slightly decreased but the fall is very much justified from
the multifold increase turnover.
Your honour, even the books are rejected than ... should be appreciate.
Considering the above facts I find that the turnover of the appellant also
increase from
issue. It is the case of the assessee that since the
turnover has increased in the present year, therefore, G.P. rate ... Officer and the gross profit of the year has decreased to
2.58% from 2.82% while turnover has increased by 72.95% as
compared to preceding year
under:
4
" 3.2 Regarding decrease in the gross profit and net profit though increase in
gross turnover as compared to the previous year ... compared to FY 2010-11. In reply to cause of decrease in net profit the
assessee submitted that it was mainly on account of provision
such a
payment as excessive in view of decrease in the ratio of net profit to turnover.
He restricted the deduction to the amount
applying the upper limit of 200 crorers for the
turnover filter applied by the TPO by placing
Date of Judgment ... turnover filter even when
the turnover has no linkage with the margins
and in fact the TPO in order demonstrated that
when turnover is high
loss is in respect of current year's turnover or earlier year's
turnover. Since there is no finding of authorities below ... same is
related to turnover of earlier year then the same should be ignored because in
that situation, the corresponding turnover is not forming part
turnover. Hence, any receipt or
expenditure although operating in nature but for which the corresponding
turnover of which is not the part of the turnover ... stand increased or decreased as the case may be but the
denominator will not reflect the inclusion of the corresponding turnover. In
fact, in Para
various years is as under:-
AY Travelling & Turnover Expenditure as
Conveyance (Rs. in % of Turnover
Expenses (Rs. in crores)
crores ... evident that the amount of expenditure on
travelling and conveyance expenses has decreased since AY 2006-07
and continuously on downward trend. Therefore, considering
basis of their turnover of the units. Hence, deduction
u/s.80IA of the Act was consequently decreased and disallowed by the
same amount
excluding export turnover amounting to
Rs.81,39,65,243/- in respect of export oriented unit (EOU) from export turnover of
the appellant while calculating ... facts while confirming the
decision of assessing officer for decreasing profits exempted under section 10B of
the EOU's in as much
