Omission of Sales

[Reghunath kuppusamy]

Where that the A.O. can add the sales omission in his assessment order or he can add only the gross profit of the sales omission?

AI Summary

Assessing Officer Can Include Omitted Sales Amount in Revised Turnover, Profit Irrelevant for Taxation A query was raised about whether an Assessing Officer (A.O.) can add omitted sales or just the gross profit from such omissions in an assessment order. One response clarified that the department is concerned with the omitted sales amount, which should be included in the revised turnover by the assessing authority, regardless of profit or loss. Another response confirmed that the A.O. can add the sales omission discovered during assessment, emphasizing that profit is irrelevant for taxation purposes.