Turnover u/s 145A - Determination of turnover declared by the assessee, whether it should be inclusive...

Turnover u/s 145A - Determination of turnover declared by the assessee, whether it should be inclusive of excise duty or not. Taxability of income at a higher tax slab of 30% despite turnover not exceeding INR 250 Crores. Whether such adjustment can be raised by the CPC in the intimation while processing the return of income u/s 143(1) of the Act to find the rate of tax in pursuance to First schedule of Finance (No. 2) Act 2019. Held that the purpose of including excise duty in turnover u/s 145A was different from determining the rate of tax based on turnover. The meaning of turnover u/s 145A cannot be adopted for determining the rate of tax. The issue of including or excluding excise duty from turnover for determining the tax rate is debat..... .....

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