failed to appreciate that the percentage of transportation expense to the
turnover has decreased by 1.50% as compared to the previous year.
4. The appellant
would be proper to take GP rate at 27% as the turnover has
decreased [almost 20%) because it is trite law that with increase ... rate @ 27% for the reason that there was a decrease
in the turnover without providing opportunity to the assessee in
contravention of the provisions
year
decreased to Rs.51378.17 Lacs from Rs. 54119.34 Lacs shown in the immediate preceding
year. Considering the decrease in gross turnover, the corresponding
year
decreased to Rs.51378.17 Lacs from Rs. 54119.34 Lacs shown in the immediate preceding
year. Considering the decrease in gross turnover, the corresponding
there is a substantial increase in the
turnover of the assessee, therefore, merely there is a decrease in the GP rate does
not warrant ... decrease
in the GP from 1.08% to 0.92% is not so significant having regard to the three-fold
increase in the turnover. Even otherwise
that the increase in the expenses under this head is 30.73%. The
turnover of the appellant has increased from Rs. 4.29 crores ... matter of fact, the
increase/decrease of the expenses as well as turnover does not take place in a
mechanical manner since various factors result
rate is slightly decreased but the fall is very much justified from
the multifold increase turnover.
Your honour, even the books are rejected than ... should be appreciate.
Considering the above facts I find that the turnover of the appellant also
increase from
applying the upper limit of 200 crorers for the
turnover filter applied by the TPO by placing
Date of Judgment ... turnover filter even when
the turnover has no linkage with the margins
and in fact the TPO in order demonstrated that
when turnover is high
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
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
