Sales value cannot be enhanced with GST without Adjusting Opening/Closing Stock and Purchases Valuation

Infinite Water Solutions Pvt. Ltd. Vs CPC (ITAT Mumbai) Introduction: The recent verdict by the Income Tax Appellate Tribunal (ITAT) Mumbai in the case of Infinite Water Solutions Pvt. Ltd. vs. CPC addresses the issue of non-inclusion of GST on sales in the profit and loss account. This article provides an in-depth analysis of the case, examining the grounds of appeal, relevant legal provisions, and the tribunal’s decision. Detailed Analysis: In the appeal filed against the order of the Ld. CIT (A), NFAC, dated 20.07.2023, the assessee contested the addition made by the CPC on account of...