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In course of appeal proceedings it is observed from the Tax Audit report for the A.Y 2022-23 vide sl. no. 40 of form 3CD as per below:

Oliria Foods and Beverages Limited vs. ITO In view of above report it is observed despite turnover increases from Rs. 4,67,60,488/- in preceding previous year to Rs. 19,64,96,990/- this preceding year, Gross profit to Turnover ratio decreases / reduces from 32.60% to 17.27% this preceding year. Simultaneously Net profit to Turnover ratio decreases / reduces from 6.00% to 1.34% in the year under consideration. The above two ratios again increases in the next financial year i.e in the F.Y 2022-23 i.e in the A.Y 2023-24 from 17.27% to 27.91% and from 1.34% to 2.73% respectively when the purported loan has been repaid though the turnover figure has been changed from Rs. 19,64,96,990/- to 19,84,96,990/- as well as Net profit amount changed from Rs 26,87,244/- to Rs. 38,47,296/-along with change of net profit % from 1.34 to 1.94 as per the reproduction of the relevant portion of the Audit report as under :