Omission of Sales

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....mission of Sales<br> Query (Issue) Started By: - Reghunath kuppusamy Dated:- 14-9-2016 Last Reply Date:- 15-9-2016 Income Tax<br>Got 2 Replies<br>Income Tax<br>Where that the A.O. can add the sales om....

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....ission in his assessment order or he can add only the gross profit of the sales omission? Reply By Ganeshan Kalyani: The Reply: Sir, the department is not bothered whether you have earned profit or ....

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....incurred loss in purchase or sale transaction. Sir, the amount of sale omitted to be included in the return shall be added in the revised turnover by the assessing authority. Thanks. Reply By MARIAPP....

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....AN GOVINDARAJAN: The Reply: The Assessing Officer can add the sales omission if he finds the same in the course of assessment. Profit is not relevance for the taxation issues.<br> Discussion Forum - ....

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....Knowledge Sharing ....