https://www.taxtmi.com/caselaws?id=350004 The High Court held that the Tribunal's exclusion of certain items from the assessee's turnover for tax assessment was unjustified. The Court emphasized that all components, regardless of nature, should be included in turnover calculations. The Tribunal's exclusion of specific expenses and flawed calculation of gross profit percentage were deemed erroneous. The Court ruled in favor of the Revenue, highlighting the importance of including all items in turnover and holding that the assessee failed to justify the exclusion of certain items. en-us Mon, 25 Sep 2017 00:00:00 +0530 Mon, 14 May 2018 13:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350004 The High Court held that the Tribunal's exclusion of certain items from the assessee's turnover for tax assessment was unjustified. The Court emphasized that all components, regardless of nature, should be included in turnover calculations. The Tribunal's exclusion of specific expenses and flawed calculation of gross profit percentage were deemed erroneous. The Court ruled in favor of the Revenue, highlighting the importance of including all items in turnover and holding that the assessee failed to justify the exclusion of certain items. Case-Laws Income Tax Mon, 25 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350004