decreased by approximately 5.6% as compared to salary
expenses in FY 2011-12. As against the above decrease in salary cost. the turnover ... decreased by approximately 5.6% as compared
salary expenses in FY 2011-12. As against the above decrease in salary cost, the
turnover of the Appellant
only but not taken any order.
Our R.K. Traders had shown turnover about 1.76 lakhs we have also filed audit
report and statement ... Traders in which we have shown all the
turnover which was above 1.76 lakhs.
2.2 Decreased in Gross Profit ratio:
As per our trading account
lakhs as compared to immediately
preceding year's turnover at Rs. 1,113.84 lakhs and gross profit at Rs.323.05
lakhs ... evidences such drastic decrease in
the gross result of the company. Firstly, the assessee submitted as under:
"Asst Year Turnover Gross Profit Net Margin
turn over
shown during the year under consideration with the total turnover shown in
the preceding assessment year. The assessing officer observed that during ... compared
to the preceding assessment year. There was decrease in the total turnover at
Rs. 26,73,92,917/- as against the total turnover
correspondence
expenses has not decreased. The assessing officer has worked out the
increase in expenses to 191% and decrease in the turn over ... this regard, the assessee has explained that the
turnover of the assessee has been decreased from 92 crore to 29 crore,
however, fixed nature
record. At the outset, we note that the assessee
has declared its turnover in the subsequent assessment year 2014-15 at
rupees 13.87 crores ... year under consideration. Generally, when the turnover
of the assessee increases than the margin decreases, it is because it is
assumed that the assessee
such
the amount of commission expenses decreased in the year under consideration
which was paid against the turnover of Rs. 2633.58 lacs for the year
herewith. Practically, the first Financial Year is 2008-09, wherein
there is turnover of Rs. 5,19,33,745/-. During this Financial Year, the
assessee ... secured loan is from Syndicate Bank, CC Account and WCDL
(Working Capital Decreasing Limit) meaning thereby that this loan
there is a fall in turnover of the
assessee and the net profit rate of the assessee. While the turnover has reduced from ... present
assessment year, the net profit rate has decreased from 13.85% to 11.70%. The Assessing
Officer also noted that, at the same time, the remuneration
The Dcit, Circle-1(1),, Baroda vs Gujarat Flurochemicals Ltd.,, Baroda on 28 June, 2019
