Turnover

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..... 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 during a period .....

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..... k 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 in th .....

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..... r otherwise. However, we would like to make it clear that the production and import statistics are not altogether irrelevant. They are relevant in the sense that they furnish some basis for estimating the sales when there is no other reliable and comprehensive data of sales available. - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - taxma .....

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