while estimating the turnover of the assessee.
4) The learned CIT (Appeals) failed to note that the assessing officer
estimated the turnover of the assessee ... order of
the Honourable Tribunal for the earlier years while estimating the
turnover of the assessee.(copy enclosed)
6) The learned CIT (Appeals) failed
assessee is
of 25.55%. There is an increase in sales turnover also. Thus, the assessee was
able to carry out its business more scientifically ... Jain
Asst.Year - 2011-12
-5-
of 20%, rather it goes on decreasing. In the Asstt.Year 2010-11, it was given
at the rate
being reported under TN VAT. Subject to the
assessee thus exhibiting the turnover of . 87.48 lacs as scrap sales, i.e., as a
component ... difference - to that
extent, where not reduced, similarly, from the turnover in the VAT return/s.
After all, the return of goods would only
2009
11.25% of these expenses i.e. in .the ratio of the turnover of Unit-
IV withdrawn from Unit-111 are allocated to Unit ... Sales
2. Increase / Decrease Stock (10,709,117) -' (10,769,117) (5,485,820
3. Other income
yield and also justify as to how the yield of
diamonds had decreased in the current year as compared to
that in the earlier year ... remained
almost constant however on the other hand there is a sharp
decrease in the yield of polished diamonds. The appellant has
not been able
decrease in average sale prices but
no details of increase in labour cost was given. The AO noticed that GP rate was
decreased from ... satisfactory explanation of such fall was given except showing that turnover has
increased to Rs.7.49 crore from Rs.4.20 crores
will
indicate that the company has been consistently growing in
terms of turnover as well as the profit margins. The earnings
before the interest ... immediately preceding year. Further, the staff expenses have
only marginally decreased from 8.45% to 8.14% of the total
cost as compared to the earlier year
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
estimated GP rate of 6% and
applied the same to the declared turnover of Rs. 13,38,63,166/- and
trading addition ... assessee has
submitted only the reasons for decrease in the GP rate as well as
comparative cases where G.P. rate was much lower
turnover
increase 3.5 times in this year compare to the last year. The Gross Profit
4 ITA 744/JP/2017_
Rajendra Goyal Vs ITO
decreased
