Income Tax Department — Huge no two business in garg steels udyog india pvt ltd

Address:

Hyderabad, Andhra Pradesh, 500008

Garg steels udyog india pvt ltd (Gsupl) aadcg2935l they are having 3 units at janwada village, bollaram village, kamaram village with ecc no's aadcg2935lxm001, aadcg2935lxm002, aadcg2935lxm003 and tin no [protected] directors pan no s. K. Agarwal affpa8126d, r. P agarwal aakpa8671k, k. K. Agarwal aenpk9443a, anuja agarwal agepa6450a they are having huge no 2 business and they are having a trading division in the same name in which they are issuing the bill whereas the material is going from there factories during the year 2015-16 they are having profit from trading division of rs 86944083/- and they are showing a loss in the manufacturing units 71800000/- and the final balance sheet is filled with net profit of 15100000/- for a turnover of rs 245 crores and the closing stock is valued at a very lower rate of rs 22700/- as the average rate of sales as on 31.03.2016 is rs 28250/- and total stock as on 31.03.2016 is qty 4909.595 mts and the raw material is valued at 20000/- instead of rs 24500/- qty is 1752.275 mts they have purchases ms scrap in trading and sold the same as bars and sections/tmt about 5000 mts