should
not be treated as unexplained money especially as the annual
turnover had decreased. The assessee responded vide
submissions dated 27.12.2019 explaining that assessee ... cloths,
2
farm crops, miscellaneous goods and petrol pump the
breakdown of turnover in the financial statements was
reproduced. The assessee had tabulated the difference
showing substantial decrease and reduction of his
business turnover as compared to the year 2011-12. That the
respondents/opposite parties even during the pendency
crores. Thus, whilst the increase in the
turnover was around 40%, the exempt income had decreased by almost 60%.
7. Given the nature of income ... account pertains to manufacturing activities, there is
increase in business turnover by 40% and decrease in exempt
income by 60% in comparison to last year
increase in the recurring
expenditure of employees' salary and decrease in the business turnover
due to severe private sector competition are some
J C Home Tex, Jaipur vs Assistant Commissioner Of Income Tax ... on 10 July, 2024
Present A.Y.
Normally when the turnover increases the net profit decreases but it is not the case of
the appellant. Further, the case ... Further if there was a decrease
in the net profit rate, but at the same time the turnover is also increased about
1000% this case
major reason for fall in GP was
a substantial increase in turnover by almost 50% from Rs.
60.71 Cr during the earlier year ... under consideration; that to achieve such an increase
in turnover, a business has to decrease its margins to
obtain much higher sales; that the primary
assessee, it has been claimed that export turnover of the assessee
increased by 33%; that increase of turnover can be achieved by
reducing margin ... written submission about
decrease in US dollar or its any effect on the G.P.rate, the turnovers
and GP rates of previous 2 years
year under assessment is decreased by 2.77% in comparison to the
immediately preceding year, whereas, the turnover of the appellant has
5
ITA No. 1159 ... known fact of every trade that
slight decrease in GP rate is attributable to the increased turnover. Therefore, the AO
has only considered one side
result of which business
decreased. To prove this pleading, it was necessary for the
plaintiff to produce details of the turnover of the plaintiff
during
