operating margins of
Access India Advisors Ltd. and there was short decrease in margins for the
succeeding years, which established that the assessment year ... assessee
that in the succeeding years, the margins have decreased i.e. in assessment
year 2009-10, it was 6.62% and in assessment year
that
turnover of the assessee in the assessment year under
appeal is higher as compared to earlier year, but, there is a
substantial decrease
figure of unaccounted turnover. Learned A. R. further submitted that figure
in the audited account for recorded turnover was supported by VAT returns
also ... Officer had applied a gross profit
rate of 3.7% on the unaccounted turnover which he calculated at
Rs.1,18,69,27,609/- The said
2015
A.Y.2010 -11
September, 2009. After demerger, turnover of the company has increased
from Rs.1562 milions in the immediately preceding Financial Year ... Financial Year 2009-10. Whereas, gross profit before
depreciation and interest has decreased from Rs.389.83 milions in the
immediately preceding Financial Year
2011_
ITO Vs Smt. Manju Devi
G.P. has decreased from 11.65% to 4.07% in the current
year. However, he failed to appreciate the significant ... business and also involved only part
of such period. Moreover, the turnover in the current year
has risen to 9.09 crores in compare
exempt
unit, on assumptions and surmises by referring to difference in turnover,
expenses and net profit rate of exempt and non-exempt units. This cannot ... book results cannot be rejected only on the
ground of decrease or difference in gross profit rate compared to other years
or another assessee. Neither
same is rejected by rejecting the explanation of the assessee for decrease in the gross profit rate disclosed in the books of account, has made ... adopting a higher gross profit rate on the turnover disclosed by the assessee. The Commissioner (Appeals) accepted the explanation furnished by the assessee
surcharge on their taxes. For small businessmen and companies with annual turnover of Rs. 50 crore, the tax liability has been reduced from ... forward, as envisaged by the demonetization drive. To reduce tax evasion and decrease dependence on cash, cash transactions over Rs. 3 lakh have been banned
3701/Ahd/2007
reflected turnover of Rs. 8,70,36,023/- as against turnover of Rs.8,67,35,824/- in
the preceding assessment year ... year rate of Rs.11.31 per meter while there
was no decrease in job rates in printing metres. Accordingly, the assessee
submitted that these
from its
investments in developing the value of a trademark from its turnover and market share
where it has a long-term contract of sole distribution ... additional return
from the owner of the trademark, perhaps through a decrease in the purchase price of
the product or a reduction in royalty rate
