3701/Ahd/2007
reflected turnover of Rs. 8,70,36,023/- as against turnover of Rs.8,67,35,824/- in
the preceding assessment year ... year rate of Rs.11.31 per meter while there
was no decrease in job rates in printing metres. Accordingly, the assessee
submitted that these
herewith. Practically, the first Financial Year is 2008-09, wherein
there is turnover of Rs. 5,19,33,745/-. During this Financial Year, the
assessee ... secured loan is from Syndicate Bank, CC Account and WCDL
(Working Capital Decreasing Limit) meaning thereby that this loan
place of
15.82% declared by assessee on the gross turnover of
Rs.1,69,62,197/-. Accordingly addition of Rs.7,09,229/- was made ... deleted on the basis of
observation that there was no substantial decrease in GP vis-à-vis
average of last three years GP calculated
argued that the increase in
expenses corresponded with a significant increase in turnover from
Rs.2.30 crores to Rs.3.87 crores (an increase ... fluctuate due to various
factors. The assessee demonstrated that vehicle expenses had decreased
from Rs. 3.29 lakhs to Rs. 3.27 lakhs, which contradicts
assessee with a view to increase the exempt
income and decrease the taxable income earned by the assessee, since
partner's remuneration had been ... Assessing Officer. The Assessing Officer noted that
the ratio of the total turnover versus the power income is 0.1% and
accordingly, the Assessing Officer held
reflected G.P. of
Rs.42,56,225/- @ 8.42% on the total turnover of Rs.5,05,71,362/- for
the year under consideration ... against G.P. of Rs.26,64,364/- @
14.06% on the total turnover of Rs.1,89,45,856/- in the preceding
assessment year
management fee payment does not satisfy the benefit test because though
the turnover of the assessee went down from 126.59 cr to 62.95 cr over ... over
the same period. The profitability has decreased substantially over the same
period.
It was explained that the US AE was very helpful in delisting
show cause notice dated 16.09.2022 specifically questioning the
yield of jeera, the decrease in landholding, and the increase in
agricultural income. After considering these details ... type of crop produced, (iii) total quantity of crop
produced, (iv) turnover, and (v) the agricultural market in which
the produce was sold. On this
proportion of export
turnover of the eligible services to the total turnover of the business
carried on by the assessee. It is significant to note ... present case of appellant, such gains were reduced from
the export turnover but not from the profit / business income of the
eligible unit
Comparative G.P chart of
three years are as under:
A.Y. Turnover Gross Profit GP rate ... sale price of
the major items where sale realisation has been decreased
and purchase price has increase in comparison to last year.
He further stated
