https://www.taxtmi.com/caselaws?id=462367 The ITAT Kolkata upheld the CIT(A)'s decision to disallow IGST payable on import of goods under section 43B. The assessee failed to route the IGST through the P&L Account, showing identical GST components in opening stock and purchases versus consumption and closing stock, with no impact on P&L. The tribunal held that routing tax through P&L Account is mandatory under sections 145 and 145A, not discretionary. The assessee's method of depicting GST components without including them in sales figures prevented proper P&L impact assessment. The appeal was decided against the assessee. en-us Wed, 14 Aug 2024 00:00:00 +0530 Mon, 16 Jun 2025 12:27:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462367 The ITAT Kolkata upheld the CIT(A)'s decision to disallow IGST payable on import of goods under section 43B. The assessee failed to route the IGST through the P&L Account, showing identical GST components in opening stock and purchases versus consumption and closing stock, with no impact on P&L. The tribunal held that routing tax through P&L Account is mandatory under sections 145 and 145A, not discretionary. The assessee's method of depicting GST components without including them in sales figures prevented proper P&L impact assessment. The appeal was decided against the assessee. Case-Laws Income Tax Wed, 14 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462367