hi all,
I have a query of whether it is auditable u/s 44AB or not.
In one of the case, a party is selling Fruits on commission basis, in which purchasing from many parties & selling onbehalf of them on commission basis.
But that party is receiveing cash from retail sale & then he just transfer the whole amount of collection to creditors( from whom he is purchaseing), after deducting his commission from that amt. && The Purchase bill clearly shows the amt of commssion of that party.
& books clearly shows same amt of commission's purchase = Commission Sales .
please kindly, help me out with proper explanation, is it liable to Audit or not in case where after adding commission's sales its may goes more than 5 crores. orelse just 10 to 12 lacs.
thanking You in Advance.
& happy New year to all.
CAclubindia
