Failure of Assessee to provide Evidence/Convincing reply about Goods received: ITAT made disallowance of 5% on account of Profit element [Read Order]

Failure of Assessee - Evidence-Convincing reply - Goods received-ITAT made disallowance-account of Profit element-TAXSCAN

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) made a disallowance of 5% on account of the profit element due to the failure of the assessee to provide evidence/convincing reply about the goods received. The Assessing Officer after receiving information from the Deputy Director of Income Tax DDIT (Inv.), Kolkata that Sri Sanjiw…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1599 + GST for 1 year

Subscribe Now

taxscan-loader