that it is offering to tax is very low. Further, the turnover has
decreased by more than 5 times from
about 2.48% on a
turnover of about Rs. 18 crore and in the relevant year the turnover has
decreased to about Rs. 7.5 crores
turnover and declares
in GP. Naturally to increase the turnover the assessee had to forgo
some margins. Turnover, GP, along with increase and decrease ... table given below:-
AY Sales GP GP Rate Increase Decrease in
Turnover in GP Rate
Turnover
financial year. During A.Y. 2008-09, the assessee himself has
turnover of Rs. 9,57,56,350/- and paid a commission ... turnover of Rs. 8,91,83,854/-
commission of Rs. 67,82,463/- had been paid, therefore, while the
turnover was decreasing year to year
compared to 2
preceding years, there is also a substantial decrease in turnover as compared
to the immediately preceding year
consonance with increase in turnover for current year, it was
submitted that increase in the turnover may result in increase in GP in absolute
terms ... turnover, it results in decrease in GP %, due
to decrease in the margins, in order to achieve higher turnover. It was
submitted that reason
than this year and this year there is decrease in
7 ITA No.724/Chny/2018
turnover. According to him, the CIT(A) as well
Sales have decreased by 79.52% in 2010-11 (3 months) when compared with the figures of 2009-10.Decrease in sales and increase in purchases ... Ratio remained almost same in all the period but stock turnover ratio decreased drastically in 2010-11 by 92.63% which means increase stock level
ground that the increase in salary is
manyfold, but there is decrease in turnover during the year. On appeal the Ld.
CIT (Appeals) deleted ... during this year when compared to the last year, however, there is
decrease in profits. He also observed that there was no explanation from
failed to appreciate that the percentage of transportation expense to the
turnover has decreased by 1.50% as compared to the previous year.
4. The appellant