irrespective
of profit earned by the firm. The remuneration may be
increased/decreased as per the responsibility shared by the partners.'
4. The authorised ... improved
substantially due to extra responsibility shared by the partners and the
turnover increased by 71% during the year under consideration.
Further, he submitted that
higher side when compared to
the turnover of the last year vis-à-vis turnover of the year
under consideration which was drastically lower ... shown by the assessee in the P & L account
as decrease in stock as noted by the A.O. himself, he
presumed that
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
which
Page 5 of 8
ITA No. 2255/Hyd/2018
goes on decreasing year after the year. Generally, in the initial years it
would ... crores, Rs.
18.97 crores and Rs. 5.25 crores on a turnover of Rs. 46.82 crores, Rs. 60.52
crores & 41.03 crores for the assessment years
Fenoplast Ltd. vs Assistant Commissioner Of Income Tax on 3 April, 2000
Equivalent citations: [2002
M/S Himagiri Bio-Tech Pvt. Ltd.,, ... vs Department Of Income Tax on 22 May
S&P Capital Iq (India) Private Limited ... vs Dy. Commissioner Of Income Tax , ... on
from the loss reported for the last
quarter.
2.1 The assessee had turnover of Rs. 171 crores. The AO analysed
the trading results ... scope for sudden fluctuation in prices of steel
items. The increase or decrease in market prices will be gradual. No
other steel trader had booked
Swaranandhra Ijmii Intergrated Town ... vs Assessee
IN THE INCOME TAX APPELLATE TRIBUNAL
HYDERABAD BENCH '
Infor (India) Private Limited , ... vs Deputy Commissioner Of Income Tax ... on 6 October, 2021
IN
