ITAT Rejects Revenue’s Rs. 39.52 Lakh Overstatement of purchase claim, upholds CIT(A) Ruling due to GST Period Difference [Read Order]

The issue arose from a discrepancy between the sundry creditor balance in the balance sheet and the GST return, with the AO treating the excess as inflated purchases
By Sneha Sukumaran Mullakkal - On November 23, 2024 1:42 pm - 2 mins read
ITAT Ahmedabad - Overstatement of Purchase Claim - GST Period Difference - CIT(A) Ruling - ITAT - GST - Income Tax Appellate Tribunal - Goods and Service Tax - Commissioner of Income Tax - CIT(A - taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal( ITAT ) rejected the Revenue’s claim of Rs. 39.52 lakh overstatement of purchases, upholding the Commissioner of Income Tax(Appeals)[CIT(A)] ruling due to the discrepancy between the Goods and Service Tax( GST ) return period of 9 months and the 12-month period covered in the assessee’s books of…

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