No Disallowance of Entire purchases when Sale of Finished product is Taxed: ITAT [Read Order]

No - Disallowance - of - Entire - purchases - Finished - product - is - Taxed - ITAT - TAXSCAN

A division Bench of the Income Tax Appellate Tribunal (ITAT), Ahmedabad ruled that no disallowance of entire purchases when sale of finished product is taxed. The assessee, M/s Accra Pac(India) PvtLtd is a manufacturer of perfumes and other beauty products. During the course of assessment, the AO observed that the assessee has not furnished PAN…

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