Sending monthly sales figures hurriedly by 10th of every month is not a genuine reason for declaring lower sales

Last updated: 02 October 2021

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The Income Tax Appellate Tribunal has ruled that hastily submitting monthly sales figures by the 10th of each month is not a genuine justification for reporting lower sales. In this case, an assessee's appeal was partly allowed, but the tribunal noted that a discrepancy in sales figures between VAT returns and trading accounts led to an addition to total income. The tribunal also condoned a minor delay in filing the appeal.

Court :
ITAT Bnagalore

Brief :
This appeal at the instance of the assessee is directed against the CIT(A)�s order dated 29.01.2019. The relevant assessment year is 2015-2016.

Citation :
ITA No.917/Bang/2019: Asst.Year 2015-2016

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1999

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3499

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4999

(Excl. of GST ₹899)

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Attached File : 1442821_4501_1632131755_917_holebasaveshwar_petroleums.pdf

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Judgement posted by

Poojitha Raam Vinay

Practice

I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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