Lower Quality Goods supplied to Sister Concern under Discount credited books of account: ITAT upholds quashing of Reassessment [Read Order]

By Aparna. M - On October 24, 2023 7:00 pm - 2 mins read
Lower Quality Goods supplied - Sister Concern - Discount credited books - account-ITAT upholds - Reassessment-TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Raipur bench, observed that goods supplied to a sister concern under a discount amount had been credited to the books of account of the assessee. Therefore, the bench upheld the CIT(A) order that quashed the reassessment order of the AO. The assessee, Sunil Sponge Pvt. Ltd, engaged in the…

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