Turnover

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.... Secretary, Ministry Of Chemicals And Fertilizers, Govt. Of India Versus M/S. Cipla Ltd. And Others - 2003 (8) TMI 541 - Supreme Court 'Turnover' in its ordinary sense connotes amount of business usually expressed in terms of gross revenue transacted during a specified period (vide Collins Dictionary). Broadly speaking, it represents the value of the goods or services sold or supplied dur....

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....re stock in trade, say, lying in a godown and not calculated in business, cannot be regarded as turnover, even giving broadest meaning to the expression 'turnover.' The reasoning which could be spelt out from the order passed by NPPA (referred to supra) and in the counter-affidavits filed by the appellants that indigenous production plus imports furnishes an indicia of the total business i....