returned a gross profit of Rs 10,56,671/-on a sales turnover of Rs
1,76,11,175/- giving a GP rate ... better than the previous year of 6.06% and thus even on
decreased turnover, the appellant was able to report a GP rate
compared to 2
preceding years, there is also a substantial decrease in turnover as compared
to the immediately preceding year
consonance with increase in turnover for current year, it was
submitted that increase in the turnover may result in increase in GP in absolute
terms ... turnover, it results in decrease in GP %, due
to decrease in the margins, in order to achieve higher turnover. It was
submitted that reason
year. Looking to the 250 times increase in the turnover, we
found that the marginal decrease in the G.P. is reasonable
that the
g.p. rate is continuously decreasing over the years and n.p. rate has
also decreased drastically. The assessee has not maintained ... applied g.p rate of 35% on turnover of Rs. 2,18,33,283/- resulting
into trading addition
Rajasthan State Road Transport ... vs Deputy Commissioner Of Income Tax, ... on 14 October, 2019
vk
M/S Sharma East India Hospitals And ... vs Assistant Commissioner Of Income Tax, ... on 18
M/S Diagold, Jaipur vs Assistant Commissioner Of Income Tax, ... on 8 August, 2019
vk
order of the ld. CIT (A)
are as under :-
A.Y. Turnover Gross Profit GP Rate Net Profit NP Rate ... sharply from 10.70% to
1.30%. No plausible explanation was given for sharp decrease
in NP by appellant.
3.3.2. Once books are rejected, estimation
