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Addition for Consignment Sales Commission Unwarranted if same duly reflected in P&L account
Case Law Details
- Case Name
- ITO Vs Smt. Keshar Devi (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
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ITO Vs Smt. Keshar Devi (ITAT Delhi)
Introduction: In a recent case between the Income Tax Officer (ITO) and Smt. Keshar Devi, the issue at hand was whether additions should be made for unverified sales in the trading account. The Income Tax Appellate Tribunal (ITAT) Delhi delivered a crucial ruling, highlighting the treatment of commission earned from consignment sales in the Profit and Loss (P&L) account.
Detailed Analysis: The appeal by the Revenue concerned the addition of Rs. 25,57,22,855/- in the trading account of Smt. Keshar Devi, representing unverified sales. However, the ITAT De...
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