APMC Cess Does Not Prove Unaccounted Turnover: ITAT Mumbai

DCIT Vs Chilles & Garlic Commission Co. (ITAT Mumbai) APMC Cess Does Not Prove Unaccounted Turnover: ITAT Accepts Commission Agent’s Explanation, But Revives Debtors Verification The Mumbai ITAT partly allowed the Revenue’s appeal in the case of Chilles & Garlic Commission Co., a registered APMC commission (Del Credere) agent dealing in agricultural commodities. The Tribunal upheld the deletion of additions made by treating APMC cess as evidence of undisclosed sales, but restored issues relating to sundry debtors and creditors for fresh verification. The Assessing Officer had reope...