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Non-disclosure of the amount of reimbursement of expenses, non-submission of the details of expenses incurred for verification during the assessment proceedings and non-production of any ledgers, bills and vouchers of expenses incurred on behalf of the principal companies could lead to reopening vide [2022] 446 ITR 163 (All)


Being the case of a C&F agent who routinely have to incur expenses for its clients and because the clients deducted tax at source on reimbursements and those transaction having been further reported in 26AS the case got caught within reopening action for failure to report such reimbursements in the profit and loss statement. 


Thus it is important to match the credit side of profit and loss statement with 26 AS in all situations to escape any reopening/ notice. 

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