fact that
the assessee has suppressed sale details by showing decreased
turnover.
[2] On the facts and in the circumstances of the case ... facts that assessee has
suppressed sales as well as by showing decreased turnover. We
observe from the records that case of the assessee was reopened
which is substantial increase in the
turnover. Mere decrease in GP cannot be a ground for rejection
of books of accounts.
3.3 With regard
year-wise detail of investments in shares,
reserve and surplus, business turnover, other income and net profit
from financial year 2002-03 to financial year ... crores in FY 2005-06; whereas business turnover has drastically
decreased from Rs.3 crores in FY 2002-03 to Rs.0.64 crores
place of
15.82% declared by assessee on the gross turnover of
Rs.1,69,62,197/-. Accordingly addition of Rs.7,09,229/- was made ... deleted on the basis of
observation that there was no substantial decrease in GP vis-à-vis
average of last three years GP calculated
place of
15.82% declared by assessee on the gross turnover of
Rs.1,69,62,197/-. Accordingly addition of Rs.7,09,229/- was made ... deleted on the basis of
observation that there was no substantial decrease in GP vis-à-vis
average of last three years GP calculated
shown gross profit of Rs. 30,79,39,271/- on a total
turnover of Rs. 88,26,50,481/- which comes ... year, the assessee
has shown gross profit of Rs. 39.88% on total turnover of Rs.
36,49,45,351/-. The A.O. found that there
Choksi Metal Refinery, Surat vs Dcit- Circle-2, Surat on 8 December, 2016
IN THE
Gopal Glass Works Ltd.,, Ahmedabad vs Department Of Income Tax on 4 May, 2016
आयकर
Nirma Chemical Works Ltd.,, Ahmedabad vs Assessee on 19 July, 2016
IN THE INCOME TAX
Lok Prakashan Ltd.,, Ahmedabad vs Department Of Income Tax on 12 February, 2016
IN THE
