Tolal export Total export Incremental
goods/ turnover dur- turnover dur- export
merchandise ing preceding ing the P. Y. turnover ... respect of the other item, viz., watches, there was a decrease in the export turnover as compared to the immediately preceding year. In its computation
contended
that the assessee company has shown very normal income decreasing
export turnover as well. He argued that assessment year
been able to explain
as to why the sales price has decreased. The turnover in A.Ys.2005-06,
2006-07 and in the current ... considering the overall fall in GP rate and the fact that decrease in sale
price is totally unexplained, the addition made
year
decreased to Rs.51378.17 Lacs from Rs. 54119.34 Lacs shown in the immediate preceding
year. Considering the decrease in gross turnover, the corresponding
year
decreased to Rs.51378.17 Lacs from Rs. 54119.34 Lacs shown in the immediate preceding
year. Considering the decrease in gross turnover, the corresponding
turnover is only 60% of
the last year. In the last year the turnover was Rs.16.72 crores whereas the
turnover in the current ... increased 3.5 times as
compared to last year, whereas the turnover has decrease to 60% of the last
year.
3.3.2 In view of this reason
Appellant only,
which is also evident from the substantial decrease in turnover during the
year under consideration.
4.3 The Ld. CIT(A) - 12, Chennai erred
fall in the turnover by Rs.3.11 crores
which was a decrease of 42.52%,
5.1 Instead of appreciating the facts of the case ... fact a decrease in the expenses during
the year; but she failed to take into consideration the decrease in
the turnover as we!!. She repeatedly
analysis of the record, learned Assessing Officer found that though turnover
is decreased in comparison to last year but expenses on account of salary
price. Moreover with
respect to 43.27% of the turnover, no reasons have been
given for decrease in GP rate as compared to last year ... turnover. For
the balance part of the turnover where reasons have been
given, it is not possible to quantify the decrease in gross
profit
