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Method of accounting & provisons of the income tax act,1961

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(Querist)
02 August 2013 Sir/Madam,

A Sale is made during FY 2011-12 and the said sale is returned in FY 2012-13.
What is the accounting treatment to be made in line with provisions of The Income Tax Act, 1961?
Please provide case laws, if any.

Thank you,
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 August 2013 Under Income tax provision, Sales return is allowed, only VAT provision if it is with in 6 months from the sale of goods allowed

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