2025 (3) TMI 1544

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....e Revenue : Ms. Monika H. Pande, Sr. DR ORDER PER AMARJIT SINGH, ACCOUNTANT MEMBER: The appeal of the assessee for the assessment year 2022-23 is directed against the order dated 04.10.2024 passed by the Commissioner of Income Tax, Appeal [CIT(A)]. The assessee has raised the following grounds of appeal: "1. On the facts and in the circumstances of the case and in law, the ld. Ad....

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....ing to Rs. 4,61,01,105 without appreciating the fact that the Appellant follows exclusive method of accounting and corresponding VAT/GST credits and debits have not been routed through Profit & Loss Account and thus as no expenditure on payment of VAT/GST is claimed, refund of the same is not liable to tax. 4. On the facts and in the circumstances of the case and in law, Ld. CIT(A)/the CP....

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....08.2023 made adjustment in respect of Value Added Tax (VAT) and Goods and Services Tax (GST) refund of Rs. 5,42,62,952/- to the total income of the assessee. As a result of total income was computed u/s 143(1) to the amount of Rs. 17,04,50,120/- as against total income from profit and gain from business and profession shown by the assessee at Rs. 12,43,49,015/-. 3. The assessee filed appeal bef....

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.... which were not debited to the profit and loss account while computing the total income. Correspondingly, refund amount received out of such VAT/GST payment was also not routed through the profit and loss account. The assessee also explained that information pertaining to VAT/GST was reflected in the tax audit report under clause 16(b) only for the purpose of disclosure of information pertaining t....