sold all the purchases of this year, the reason
may be sharp decrease in the business during the year. The assessee also
showed the stock ... previous financial year, assessee has
achieved Rs.8.8 crores of turnover and deposited Rs.22,38,000/- whereas
in the current financial year assessee
Gross profit ration for last three years is as under: -
A.Y. Turnover Gross Profit G.P. Ratio ... ratio, it is observed that the Gross profit ratio is
decreasing sharply without any valid reasons. As discussed above, the
assessee has inflated the purchases
Turnover 449839568 580941333 451016448
(iv) Cash Sales Ratio, 70.82% 73.74% 51.36%
Cash Sales/Turnover
(v) Cash deposit ratio cash 82.73% 82.23% 63.64%
deposit/turnover
From ... tabulated data it can be seen that
ratio of cash sales to turnover has not increased
significantly. There is a mere increase of 3% which
work-in-progress in its balance sheet and there is also increase/decrease in
inventories in its profit and loss account and under the head ... seen that this
company does not pass the test of 75% export turnover which is used as a
filter by the TPO himself. This company
both
the cases was same i.e. `.2,18,71,876/-. The decrease in profit in the
revised return was due to increase in labour ... Assessing
Officer had estimated the profits on the basis of 8% of turnover.
However, the penalty was imposed because of the failure on the part
ground that the expenses are excessive in comparison to
total turnover of the assessee. The Ld. Counsel for the assessee
referring to page ... account of various reasons. The sales of the
assessee decreased to Rs.43,60,03,387/- from Rs.61,88,25,792/-
from the previous
ground that the expenses are excessive in comparison to
total turnover of the assessee. The Ld. Counsel for the assessee
referring to page ... account of various reasons. The sales of the
assessee decreased to Rs.43,60,03,387/- from Rs.61,88,25,792/-
from the previous
ground that the expenses are excessive in comparison to
total turnover of the assessee. The Ld. Counsel for the assessee
referring to page ... account of various reasons. The sales of the
assessee decreased to Rs.43,60,03,387/- from Rs.61,88,25,792/-
from the previous
additional chamber was taken on hire.
The processing of meat has slightly decreased at
Muzaffarnagar but the firm had to maintain an adequate
level ... availability of space
in ships to the required destinations. The turnover cannot
form the basis of requirement of preservation facilities.
There may be times when
domestic as well as
export sales which would decrease or increase every year depending
upon the decrease or increase in the sales. This payment ... would be
that the amount of royalty paid by the assessee on turnover basis for use of
technical information and assistance is invariably on revenue
