issue. It is the case of the assessee that since the
turnover has increased in the present year, therefore, G.P. rate ... Officer and the gross profit of the year has decreased to
2.58% from 2.82% while turnover has increased by 72.95% as
compared to preceding year
figure of unaccounted turnover. Learned A. R. further submitted that figure
in the audited account for recorded turnover was supported by VAT returns
also ... Officer had applied a gross profit
rate of 3.7% on the unaccounted turnover which he calculated at
Rs.1,18,69,27,609/- The said
noted the figures of gross profit, turnover and net profit. It was submitted
that the turnover of the assessee during the year under consideration
increased ... gross profit rate, as disclosed during the
year under consideration, though decreased but net profit rate had
increased. It was submitted that during assessment proceedings
incorrect and without
jurisdiction.
3. That 'Hiring Charges' has been decreased since last
assessment year and even if 'Freight Expenses ... aforesaid expenses was less than
previous year expenses as compared to turnover in respective
assessment year, hence, addition of Rs.9,80,062/- is incorrect
