Accounting discrepancies cannot be termed as suppression of purchases in the strict sense

Last updated: 02 October 2021

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The Income Tax Appellate Tribunal (ITAT) in Bangalore has ruled that simple accounting discrepancies cannot be strictly defined as a 'suppression of purchases'. The case involved an assessee who had an addition of Rs. 3,84,730 made by the Assessing Officer. The assessee argued this difference was due to accounting errors between their business and another entity, not a deliberate hiding of purchases. The Tribunal allowed the appeal, acknowledging the distinction.

Court :
ITAT Bangalore

Brief :
This appeal at the instance of the assessee is directed against the CIT(A)�s order dated 14.08.2017. The relevant assessment year is 2006-2007.

Citation :
ITA No.304/Bang/2021: Asst.Year 2006-2007

Daily Limit Reached