Case Law Analysis
|Income Tax Appellate Tribunal
Exclusive Accounting Method | GST Refunds Excluded from Taxable Income Under Consistent Practice : ITAT Bangalore
ITAT Bangalore rules that GST refunds are not taxable if the assessee follows the exclusive accounting method, bypassing the profit & loss account. The decision reinforces that consistent accounting practices prevail over revenue adjustments, impacting tax assessments for businesses claiming refunds.