Hi Ajit,
I agree with hsp402 that your purpose of visit is not a compelling reason to visit Canada.
Each visa application is evaluated on what is called 'the balance of probabilities'.... although there are no guarantees/sureties that an applicant with a strong case will return home.
The visa officer assesses the probability of whether an applicant is likely to return to his/her home country.... based on documentation/evidence submitted, the personal situation, the purpose of visit, the financial situation, and also through phrases that giveaway the intentions.
For example: we want to visit there from which we will come to know how business will work there & know about the system before migrating there. = intention to remain long-term in Canada = possibility to overstay your visit.
A visa officer will not refuse a TRV because s/he has a bad day or due to bad weather. The onus is on the applicant to prove that s/he has compelling reasons to return home.
I think your TRV application lacked evidence to support your statements. IMO this has resulted in TRV refusals for yourself and your wife.
For example:
1. If your annual profit is INR 5-600,000 = CAD 10-12,000 (not deducting personal expenses)..... then this does not add up to your CAD 50,000 bank balance.... as I think no one would park CAD 50,000 for 4 years in a checking account (assuming you saved every cent for 4 years).... without investing any of it.
So was any of this bank balance transferred between your bank accounts or borrowed for the TRV applications?
Or was the CAD 50,000 balance in your company bank account?
If it is a company bank account then are you allowed to spend company finances on a personal trip? Do you draw a salary?
Did your wife show any finances of her own.... or would you be paying for her visit?
2. For your company/employment: You should have provided tax returns for your company + audit statements + proofs of ongoing orders + payments received from customers + Professional Tax paid for yourself and your employees to prove you have 10-12 employees (if applicable in New Delhi), etc etc
3. For your property: Property ownership documents + latest property tax receipts + maintenance bills (if it is a housing society), etc etc
.... similarly, you should have submitted other documents/evidence to prove your finances, your property valuation (not just a CA's assessment), your wife's self-employment, etc
Cheers