Plese advise me that we r facing ascrtiny. our client during last year was selling round bars having turnover of Rs 2 crore. he incressed sale of m s sheets and his c. y. sale is Rs 20 crore. But GP ratio has reduced from 7% to 2% in current year. AO wants justification.
Menu
scrutiny assessment for reduction in GPR
Replies (1)
AO has right to call for justification through notice u/s 143(2) and you have no option other then comply with it . You can file an appeal against the order of AO to CIT(A) , if the order of AO is against your client.
Recent Topics :
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
Related Topics :
CAclubindia
