https://www.taxtmi.com/caselaws?id=471391 Alleged suppression of turnover based on a discrepancy between declared turnover and departmental Insight portal data requires verification against the relevant departmental records where the portal figures are substantially consistent with the financial statements and return. The turnover addition was therefore remanded to the Assessing Officer for fresh examination after giving the assessee an opportunity to be heard. GST late fees were treated as allowable business expenditure rather than disallowable penal payments, and the related disallowance was deleted. The central distinction is between a turnover discrepancy requiring factual reconciliation and a statutory late fee deductible in computing business income. en-us Fri, 04 Apr 2025 00:00:00 +0530 Tue, 01 Sep 2026 19:02:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471391 Alleged suppression of turnover based on a discrepancy between declared turnover and departmental Insight portal data requires verification against the relevant departmental records where the portal figures are substantially consistent with the financial statements and return. The turnover addition was therefore remanded to the Assessing Officer for fresh examination after giving the assessee an opportunity to be heard. GST late fees were treated as allowable business expenditure rather than disallowable penal payments, and the related disallowance was deleted. The central distinction is between a turnover discrepancy requiring factual reconciliation and a statutory late fee deductible in computing business income. Case-Laws Income Tax Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471391