turnover is above Rs. 40 lakhs. But then it cannot be said that as and when the turnover increases, the net profit decreases
applied the G.P. rate of 35% on the
total turnover (both accounted and unaccounted) of
Rs. 4,67,37,067/- stating that assessee has
declared ... However, the
assessee has pointed out that as regarding the
accounted turnover of the assesse was 3,61,76,638
on which gross profit
same is rejected by rejecting the explanation of the assessee for decrease in the gross profit rate disclosed in the books of account, has made ... adopting a higher gross profit rate on the turnover disclosed by the assessee. The Commissioner of Income-tax (Appeals) accepted the explanation furnished
same is rejected by rejecting the explanation of the assessee for decrease in the gross profit rate disclosed in the books of account, has made ... adopting a higher gross profit rate on the turnover disclosed by the assessee. The Commissioner (Appeals) accepted the explanation furnished by the assessee
Rajasthan State Road Transport ... vs Smt. Manorma And Ors. on 11 December, 1981
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