assessee has shown gross loss of Rs.3,84,90s/- on
turnover of Rs. 97,00,9007- giving a negative G.P. rate ... Particular AY 2005-06 AY 2006-07 AY 2007-08
s
1 Turnover 1046512 4110820 9700908
2 Gross 233660 321520 -384905
Profit
assessee firm and
estimation of GP rate @25% of the turnover is purely on the basis of surmises and conjectures
and therefore should ... various reasons such as increase in the cost of
raw material, decrease in the market price of finished product, increase in the cost
of processing
Chopra Agencies, Phagwara vs Assessee on 11 June, 2013
1
I.T.A. No. 105
M/S. Chirag Marbles Pvt. Ltd. , ... vs Department Of Income Tax on 31 May, 2013
should have considered
cumulative effect of all the factors which resulted in decrease in GP.
In other words, raw material prices have been increase ... that on non
furnishing of certain information net profit @ 2.31% of the
turnover, net of all expenses, was made after detailed
examination/verification
Indore Composite P.Ltd, Mumbai vs Department Of Income Tax on 7 February, 2013
IN
