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
year under consideration, the
turnover of the appellant company has significantly increased,
as a result overhead expenses per unit were decreased. The
detail
increase
the sales, margin of GP has slightly decreased in as much as the
turnover is roughly doubled. Thus, there is full justification ... increase the
sales, margin of GP has slightly decreased in as much as the turnover is
roughly doubled . The assessee did not submitted details
year was 10.98% of the turnover, in the
impugned assessment year it has increased to 38.70% of the
turnover. He also found that major portion ... learned
Commissioner (Appeals) observed, though, there is decrease in sales
4
Amersey Exports Pvt. Ltd.
turnover compared to the preceding assessment year, however, there
2005 in his second remand report.The assessee further argued that
turnover computed by the AO was erroneous,that the figures reflected in the achievement ... part of the turnover
for those years.The AO estimated sales adopting a particular formula( i.e.20% increase or
decrease in the sales figures
under: -
Comparative statement of gross profit and net profit ratios
Income Turnover 2008 2007 2006 2005 2004
Rs. Rs. Rs. Rs. Rs.
Sales ... Income/Decrease in stock
assessee also filed
the comparative statement showing increase / decrease in gross profit / loss and
percentage increase / decrease in gross profit / loss ... term of percentage of expenditure and turnover. The learned Counsel
for the assessee stated in the relevant year the percentage of expenditure is at
minus
Jawahar B. Purohit, Mumbai vs Asst Cit Cen Cir 22Xc, Mumbai on 20 September, 2017
Gopaldas Visram & Co. Ltd, Mumbai vs Dcit 4(2), Mumbai on 21 September, 2017
The West Coast Paper Mills Ltd, Mumbai vs Addl Cit 1(3), Mumbai on 6
