bench will kindly appreciate that there is no difference
between the turnover as per RVAT returns/assessment order and the books of
accounts ... assessee as per his books of accounts duly tallies with the turnover assessed
by the VAT authorities of state Govt.
8. That as regards adverse
Vijeta Lodha, Jaipur.
from 8/9.09.2011 to 31.03.2014, there was decrease as regards Sensex,
but, the shares of Centron Industrial Alliance Limited (CIAL ... movement pattern; that the company did
not have fixed assets, had meager turnover, no dividend and no earnings
on shares.
27. Balance sheet of Centron
bench will kindly appreciate that there is no difference between the
turnover as per RVAT returns/assessment order and the books of
accounts ... assessee as per his books of accounts duly tallies with the
turnover assessed by the VAT authorities of state Govt.
12. That as regards adverse
decided to enter in domestic market in addition and
started doing small turnover to domestic customers also. Initially it received
good response from domestic market ... turnover for Rs
210.37 Lakh and 428.60 Lakh plus export turnover of Rs. 1497.62 Lakh and
1550.87 Lakh respectively and covered downfall in export turnover
applying the g.p.
rate of 22% on the turnover of Rs. 17,94,82,618/- as against g.p. rate of
19.43% shown ... Department. The ld.AR of the assessee also submitted the
reason of decrease in percentage of G.P. is increase of input cost in
comparison
applying the g.p. rate of 22% on the turnover of
7 ITA 76/JP/2018_
M/s Pawan Enterprises Vs ACIT ... fact the
turnover of the assessee has increased substantially and overall gross
profit of the assessee has also increased. The turnover of the assessee
total turnover @ 9.55% as
shown in the last previous year. Thus the AO made trading addition of
Rs. 97,99,900/- on turnover ... observed that gross profit
rate of the assessee has decreased from 9.55% in the last year to
5.73% and accordingly enhanced the gross profit rate
assessment year under consideration though there was
an increase in the turnover but the gross profit had declined substantially
which was accepted ... assessment proceedings without inquiring into the
factors which could have impacted the decrease on the rate of gross profit and
net profit as compared
rejected
as low G.P. was due to increase in turnover and for the stock
valuation, it was stated that books have been audited ... pointed out
various defects in the books of accounts viz. decrease in
gross profit rate as compared to earlier years associated with
non-maintenance
assessee
submitted that the assessee had declared a turnover of Rs.21,26,644/- on which the
N.P. Rate of 11.80% has been declared ... Rate of 13.14% in
the immediately preceding year. This slight decrease in the profit rate was due to
growing competition in the field
