Mere reporting in GST return doesn’t make amount taxable under Income Tax: ITAT Ahmedabad

Advertisement ITO Vs Aman Enterprise (ITAT Ahmedabad) ITAT Ahmedabad held that mere reporting in the GST return doesn’t make the amount taxable as per the provisions of the Income Tax Act. Considering entire booking advance, as per GST return, as income without examining the income in accordance with percentage completion method not correct. Facts- During the course of assessment, AO made additions towards understatement of receipt of service; over statement of purchase and expenditure from unaccounted source. CIT(A) allowed the appeal of the assessee. Being aggrieved, revenue has preferr...