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TMI Blog2024 (10) TMI 854X X X X Extracts X X X X X X X X Extracts X X X X ..... f Chartered Accountants of India on tax audit under section 44AB of the Income-tax Act, 1961 filed before us wherein it is mentioned that if, however, the excise duty and /or sales tax recovered are credited separately to excise duty or sales tax account (being separate accounts) and payments to the authority are debited in the same account, they would not be included in the turnover. However, sal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing payment to the respective tax authorities as prescribed in the guidance notes on tax audit u/s 44AB - Assessee appeal allowed. - Shri Amarjit Singh, Hon ble Accountant Member And Shri Anikesh Banerjee, Hon ble Judicial Member For the Assessee : Shri Prateek Jain For the Revenue : Shri P.D. Chougule, Addl. CIT, Sr. DR ORDER PER AMARJIT SINGH, AM: The present appeal filed by the assessee is di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome. 3. The assessee filed appeal before the ld. CIT(A). The ld. CIT(A) has also dismissed the appeal filed by the assessee. 4. Heard both the sides and also perused the material on record. The assessee has filed rectification u/s 154 of the Act to consider the tax rate @ 30% instead of tax rate 25% as the turnover of the assessee was below Rs. 50 crores as under: Particulars Amount (in Rs. ) Sale ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... payable and service tax payable ledger account for the period 01.04.2015 to 31.03.2016 demonstrating that it had credited the excise duty and service tax recovered separately to the respective account separately maintained and the payment made to the tax authorities were debited in the same account therefore, the same would not be included in the turnover. 7. Looking to the above facts and circum ..... X X X X Extracts X X X X X X X X Extracts X X X X
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