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…

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