noticed that
there is substantial increase of expenses though the turnover has decreased.
Further, the AO noticed various discrepancies in the audit report accompanying ... below and submitted that during the year under consideration there was
decrease in turnover and increase in salary & wages and the explanation thereof
compared to last year's gross profit of 1.60% on a turnover
of Rs.873.41 lakhs. The Ld. AR of the appellant though ... last year. It is well established that with the increase of turnover, profit decreases.
Thus, A,O's decision of application of last year
Percentage increase is 138.
(ii) Decrease in turnover over the preceding year's : Rs.1,94,80,818/- percentage
decrease is 11.7
(iii) Number ... produced for
verification.
(vi) Decrease in freight receipt over the preceding year's : Rs.1,62,558/- percentage
decrease is 2.9.
On analysis
indicated that the net profit of assessee was decreased from
.23% of total turnover to .13% in this year due to increase in this expense
Balrampur Chini Mills Ltd., Kolkata vs Assessee on 23 February, 2011
आयकर अपीलीय अधीकरण, Ûयायपीठ
