Only Profit element can be added to income, not sales amount
Last updated: 12 December 2022
Court :
ITAT Jaipur
Brief :
The Income Tax Appellate Tribunal, Jaipur ("the ITAT") in the case of Mr. Nikhil Garg v. Income Tax Officer (ITA No. 180/JP/2018) dated February 14, 2022 held that in no case the entire sales amount can be treated as income and only the profit embedded should be treated as income for the purpose of computation of income under Income Tax Act, 1961 ("the IT Act").
Citation :
ITA No. 180/JP/2018
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Bimal Jain
Published in Income Tax
Views : 287
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