that the
g.p. rate is continuously decreasing over the years and n.p. rate has
also decreased drastically. The assessee has not maintained ... applied g.p rate of 35% on turnover of Rs. 2,18,33,283/- resulting
into trading addition
said addition by 3% of the
turnover and has finally affirmed the addition of 2% of turnover
being Rs.22,51,893/- which is really ... observed that the assessee's GP margin has decreased
from 40.26% to 39.19%. He also noticed that the assessee has not maintained
quantitative details
assessment was getting time barred. The
A.O compared the turnover of the assessee in the preceding year vis-à-
vis the expenditure like wages ... telephone, diesel expenses etc.,
from the point of view of increase or decrease in the said expenditure.
So far as the disallowance of wages
total turnover of Rs.1,54,26,319/- as compared to 34.13% on a turnover
of Rs.1,36,6,026/- in the immediately preceding ... stated that
there was increase in manufacturing expenses by 2.07% and decrease in net margin
on sales of satin ribbon by 6.25% and the cost
Comparative G.P chart of
three years are as under:
A.Y. Turnover Gross Profit GP rate ... sale price of
the major items where sale realisation has been decreased
and purchase price has increase in comparison to last year.
He further stated
Prime Export vs. ITO, Jaipur .
assessee had achieved the increased turnover by reducing the sale price or
providing discount etc. The increase in cost ... fall in GP is on
account of decrease in export incentive during the year as compared to last
5
ITA No. 654/JP/2012
that the main reason for decrease in gross profit ratio was
because of higher cost of purchase and decrease in sale price ... assessee and estimated the gross
profit at 5% of the turnover and made the addition on this account.
The addition was challenged before the learned
M/S. New Delhi Television Ltd., New ... vs Dcit, New Delhi on 14 July, 2017
loss of Rs.1,75,74,887/- on the total turnover of Rs.1,69,62,106/-;
(b) the loss on sale of machinery ... sale and purchase of any
asset under any block can only increase/decrease in value of block and
depreciation can be accordingly claimed/allowed
Acit Cir. 6 (3) (2), Mumbai vs Kamani Oil Industries P. Ltd., Mumbai on 10
