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.
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scrutiny assessment for reduction in GPR
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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.
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