https://www.taxtmi.com/caselaws?id=427240 The ITAT Kolkata allowed the appeal, overturning the disallowance of purchases amounting to Rs. 9,06,200/- due to alleged overstatement. The ITAT found that the inclusion of transportation charges in the purchase cost was reconciled with other expenses, aligning the total purchases with the audited trading account figures. Emphasizing the need for accurate reconciliation and providing necessary details during assessment, the ITAT concluded there was no overstatement, setting aside the decision of the ld. CIT(A) and deleting the disallowance. en-us Wed, 31 Aug 2022 00:00:00 +0530 Mon, 05 Sep 2022 07:22:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427240 The ITAT Kolkata allowed the appeal, overturning the disallowance of purchases amounting to Rs. 9,06,200/- due to alleged overstatement. The ITAT found that the inclusion of transportation charges in the purchase cost was reconciled with other expenses, aligning the total purchases with the audited trading account figures. Emphasizing the need for accurate reconciliation and providing necessary details during assessment, the ITAT concluded there was no overstatement, setting aside the decision of the ld. CIT(A) and deleting the disallowance. Case-Laws Income Tax Wed, 31 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427240