2023 (6) TMI 1033

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.... Aggrieved by the order dated 18/03/2023 passed by the learned Commissioner of Income Tax (Appeals)- National Faceless Appeal Centre (NFAC), Delhi ("Ld. CIT(A)"), in the case of Zaid Enterprises ("the assessee") for the assessment year 2018-19, assessee preferred this appeal. 2. Brief facts of the case are that, the assessee is a partnership firm carrying on business of trading in beedileave....

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.... assessee under section 69C of the Act. 3. Assessee preferred appeal before the learned CIT(A) and submitted that as a matter of fact, the net purchases subject to TCS was only Rs. 94,70,358/- and other expenses were to the tune of Rs. 1,95,235/-, whereas the CGST at 9% was Rs. 8,69,903/- and SGST at 9% was Rs. 8,69,903/-. Assessee, therefore, submitted that the learned Assessing Officer failed....

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....ed the appeal. 5. Assessee is, therefore, before me in this appeal stating that the exclusive method treatment of taxes in the accounting followed by the assessee is not considered by the authorities below in fact such a method of accounting for taxes is permissible under law and also accepted by the department in earlier assessment years. Learned AR further contended that there are certain exp....

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....the assessee, the purchase chase was Rs. 96,65,593/- the difference of Rs. 15,44,567/- is straightaway added by the learned Assessing Officer to the income of the assessee under section 69C of the Act. 7. Learned CIT(A), however, considered the contention of the assessee that the invoice includes the CGST and SGST at 9% each. By calculating the same, the learned CIT(A) reached a figure of Rs. 1....