2024 (10) TMI 854

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....nue : Shri P.D. Chougule, Addl. CIT, Sr. DR ORDER PER AMARJIT SINGH, AM: The present appeal filed by the assessee is directed against the order dated 09.11.2023 of the Ld. Commissioner of Income Tax (Appeal), NFAC, Delhi for Assessment Year 2018-19. 2 Fact in brief is that the case of the assessee was subject to scrutiny assessment u/s 143(3) of the Act. The assessment u/s 143(3) of th....

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....ax rate @ 30% instead of tax rate 25% as the turnover of the assessee was below Rs. 50 crores as under: Particulars Amount (in Rs. ) Sale of goods 50,09,90,069.00 Sale of services 1,46,54,001.00 Gross Total 51,56,44,070.00 Less: Excise Duty 5,39,13,756.00 Less: Service Tax 17,86,031.00 Net Sales 45,99,44,283.00 5. We have also perused the Guidance note ....

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....maintained and the payment made to the tax authorities were debited in the same account therefore, the same would not be included in the turnover. 7. Looking to the above facts and circumstances, we direct the assessing officer to consider the income tax rate @ 25% instead of 30% since the turnover for the F.Y. 2015-16 in the case of assessee was below Rs. 50 crores, since it had maintained sep....