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VAT vs. Books Difference: ITAT Deletes Purchase Disallowance on ITC Reversal
Case Law Details
- Case Name
- Ankur Fine Products Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Ahmedabad
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Ankur Fine Products Vs ITO (ITAT Ahmedabad)
VAT vs Books Difference Explained – ITAT Ahmedabad Deletes ₹9.99 Lakh Disallowance for Statutory ITC Reversal in Pharma Trade
Ahmedabad ITAT deleted the disallowance of ₹9,99,393/- made on account of alleged inflated purchases arising from a difference between VAT returns & audited books of accounts.
Assessee, a partnership firm dealing in pharmaceuticals & bulk drugs, had declared purchases of ₹29.89 crore in its books, whereas the VAT return reflected ₹29.74 crore, leading the AO to conclude that pur...
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