https://www.taxtmi.com/caselaws?id=763900 ITAT Delhi ruled in favor of the assessee regarding reopening of assessment based on turnover discrepancies between income tax return and service tax declarations. The tribunal found that service tax turnover is calculated on receipt of advances while income tax turnover is based on project completion, creating legitimate differences. Despite the assessee providing reconciliation statements and supporting documents to lower authorities, these were not properly considered. The tribunal deleted the estimated profit additions made by the AO on undisclosed turnover. en-us Fri, 27 Dec 2024 00:00:00 +0530 Tue, 31 Dec 2024 08:43:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763900 ITAT Delhi ruled in favor of the assessee regarding reopening of assessment based on turnover discrepancies between income tax return and service tax declarations. The tribunal found that service tax turnover is calculated on receipt of advances while income tax turnover is based on project completion, creating legitimate differences. Despite the assessee providing reconciliation statements and supporting documents to lower authorities, these were not properly considered. The tribunal deleted the estimated profit additions made by the AO on undisclosed turnover. Case-Laws Income Tax Fri, 27 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763900