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page 7 of the assessment order that the total turnover cannot decrease due to decrease in the booking rate. This is quite illogical

price. Moreover with respect to 43.27% of the turnover, no reasons have been given for decrease in GP rate as compared to last year ... turnover. For the balance part of the turnover where reasons have been given, it is not possible to quantify the decrease in gross profit

ACIT change which not only resulted in decrease in the turnover by 15% but also resulted into shrinking of the margins. Therefore, he prayed

which is slightly decreased from previous year net profit of Rs. 5,14,19,208/- on total turnover of Rs. 89,71,37,753/- showing

increase of turnover and manufacturing activities as against job work charges and due to flood gross profit has marginally decreased. However, ld. Assessing Officer ... ignored some important facts which needs consideration in adjudicating this issue:- (1) Turnover of the assessee has more than doubled in Asst. Year

account of sale of scrap @ 0.2% of the turnover. This aspect we have already dealt with while dealing with the appeal for the year ... because of rice in turnover, without producing any material that profit margin on sales had decreased during the year. Though, there is no evidence regarding

turnover of Rs.17,36,68,915/- as compared to Net Profit of Rs.71,30,820/- at the rate of 5% on the turnover ... Profit. It was found by Assessing Officer that security charges have been decreased from 92.78% shown in the last year to 91.5% during the year

Vedanta Ltd (Earlier Known As Sterlite ... vs Acit, Circle- 26(1), New Delhi on 9

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