https://www.taxtmi.com/caselaws?id=359158 The ITAT Chennai upheld the CIT(Appeals) decision to delete the addition of excess sales tax collected by the assessee as trading receipts were not retained, thus confirming the deletion. Additionally, the ITAT Chennai agreed that the excess sales tax collected and remitted to the Government account cannot be treated as income, upholding the decision. Regarding the disallowance under Section 40A(2)(b) of the Income-tax Act, 1961, the matter was remitted for re-examination to determine market rates for laundry services payments, emphasizing the need for a detailed assessment. The appeals for the assessment years were partly or fully allowed for statistical purposes. en-us Thu, 22 Mar 2018 00:00:00 +0530 Wed, 25 Apr 2018 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359158 The ITAT Chennai upheld the CIT(Appeals) decision to delete the addition of excess sales tax collected by the assessee as trading receipts were not retained, thus confirming the deletion. Additionally, the ITAT Chennai agreed that the excess sales tax collected and remitted to the Government account cannot be treated as income, upholding the decision. Regarding the disallowance under Section 40A(2)(b) of the Income-tax Act, 1961, the matter was remitted for re-examination to determine market rates for laundry services payments, emphasizing the need for a detailed assessment. The appeals for the assessment years were partly or fully allowed for statistical purposes. Case-Laws Income Tax Thu, 22 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359158