ITAT Overturns Disallowance of Unpaid Service Tax Due to Lack of Deduction in P&L Account [Read Order]

The Tribunal directed the Assessing Officer to verify the mercantile system of accounting and allow relief if the assessee's claims were confirmed.
By Sneha Sukumaran Mullakkal - On October 17, 2024 1:04 pm - 2 mins read
ITAT - ITAT Surat - Service Tax Due - P&L Account - Taxscan

The Surat Bench of Income Tax Appellate Tribunal ( ITAT ) overturned the disallowance of Rs. 14,43,922/- under Section 43B of Income Tax Act,1961 concerning unpaid service tax, citing the lack of a deduction in the assessee’s Profit and Loss(P&L) Account .The Tribunal directed the Assessing Officer(AO) to verify the mercantile system of accounting and…

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