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mainly on the basis of presumption. He has also considered the decrease in turnover and lower net profit ratio of 1.52% as compared

proof for coupons given to its staff and there was substantial decrease in turnover also for the impugned assessment year when compared to immediately preceding

2007 (b) The ratio of labour charges to total receipt is decreased to 52.99% from 58.88% compared to the preceding previous year. (c) Regarding ... increase in gross profit ratio. However, this is because of decrease in turnover (from

turnover is well above the turnover limit for presumptive taxation. It is also generally observed in business that, as turnover increases generally margin goes ... into scheme of presumptive taxation as his turnover is well above the turnover limit for presumptive taxation, however, he has restricted profit @ 5% without analyzing

despite the steep decrease in turnover of the assessee. Accordingly, he disallowed the difference of Rs 61,15,842/- ( 20051950 - 13936108) in the assessment

secured loans. He also points out from the report that the turnover has decreased. 21. But, as rightly pointed out by the learned Counsel

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

comparison with earlier assessment year, but such decrease is mainly due to decrease in turnover of the appellant company. The appellant has not proved that

books of accounts maintained by assessee. He submitted that turnover has decreased but carriage expenses has increased. Ld. DR further submitted that there

compared to last year's gross profit of 1.60% on a turnover of Rs.873.41 lakhs. The Ld. AR of the appellant though ... last year. It is well established that with the increase of turnover, profit decreases. Thus, A,O's decision of application of last year