VAT collected Separately from Customer differ from Charges u/s 40 (a) (iib), Deduction allowable: ITAT quashes Revisional Order [Read Order]

VAT - Customer - differ - Charges - Deduction - ITAT - Revisional - Order - TAXSCAN

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) VAT collected separate from customers different from charges u/s 40 (a) (iib) of the Income Tax Act,1961 and deductionis allowable. M/s. Tamilnadu State Marketing Corporation Ltd., the assessee challenged the revision order passed by PCIT by holding the assessment framed as erroneous and prejudicial to…

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.)
  ₹1199 + GST for 1 year

Subscribe Now