Omission of Sales

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Omission of Sales
Query (Issue) Started By: - Reghunath kuppusamy Dated:- 14-9-2016 Last Reply Date:- 15-9-2016 Income Tax
Got 2 Replies
Income Tax
Where that the A.O. can add the sales o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... mission in his assessment order or he can add only the gross profit of the sales omission? Reply By Ganeshan Kalyani: The Reply: Sir, the department is not bothered whether you have earned profit or .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... incurred loss in purchase or sale transaction. Sir, the amount of sale omitted to be included in the return shall be added in the revised turnover by the assessing authority. Thanks. Reply By MARIAP .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... PAN GOVINDARAJAN: The Reply: The Assessing Officer can add the sales omission if he finds the same in the course of assessment. Profit is not relevance for the taxation issues.
Discussion Forum - .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X