Cost of Goods Cannot be Included in Denominator of PLI while Computing Net Profit Margin u/s 10(B)(1)(e) of Income Tax Act: ITAT [Read Order]

By Shabna Rahim - On July 7, 2023 7:00 am - 2 mins read

Cost - goods - indicator - profit - level - income tax act - income tax - taxscan

The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the cost of goods cannot be included in the part of Profit Level Indicator (PLI) while computing the net profit margin under section 10(B)(1)(e ) of the Income Tax Act,1961. ADM Agro Industries Kota & Akola P. Ltd, the appellant assessee was…

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