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

Last updated: 02 October 2021
Quick Summary
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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