decreased from 22.60% of
the immediately preceding assessment year to 14.39% during the relevant
period, and the AO has added only 2% of the turnover
against Rs. 45,53,670/-), it was decreased in PNB Account (Rs.
49,77,699/- as against Rs. 73,33,811/-); as per the statements ... Oriental Bank of Commerce account
which represent the unaccounted turnover/receipts reflected in the said
bank accounts.
10. The CIT(A) observed that though
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Appeal No104
Sh. Dhanraj Pillay And Others vs M/S Hockey India Main Order , Per R. ... on
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आयकर अपील य अ
assessee firm and
estimation of GP rate @25% of the turnover is purely on the basis of surmises and conjectures
and therefore should ... various reasons such as increase in the cost of
raw material, decrease in the market price of finished product, increase in the cost
of processing
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1
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IN THE INCOME TAX APPELLATE