https://www.taxtmi.com/caselaws?id=755557 The ITAT Delhi upheld CIT(A)'s deletion of addition treating 75% of work in progress as sales, ruling that work in progress cannot be treated as sales for profit estimation. Regarding sales tax and service tax addition, the ITAT modified CIT(A)'s order, restricting the addition to Rs. 6,56,280/- by applying 3.94% sales tax rate only to closing stock on pro-rata basis rather than entire sales. The ITAT directed AO to consider allowing deduction under section 43B for additional sales tax from earlier years on payment basis. en-us Thu, 25 Jan 2024 00:00:00 +0530 Mon, 15 Jul 2024 08:18:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755557 The ITAT Delhi upheld CIT(A)'s deletion of addition treating 75% of work in progress as sales, ruling that work in progress cannot be treated as sales for profit estimation. Regarding sales tax and service tax addition, the ITAT modified CIT(A)'s order, restricting the addition to Rs. 6,56,280/- by applying 3.94% sales tax rate only to closing stock on pro-rata basis rather than entire sales. The ITAT directed AO to consider allowing deduction under section 43B for additional sales tax from earlier years on payment basis. Case-Laws Income Tax Thu, 25 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755557