Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2022 Year 2022 This

Additions towards difference in the 26AS (TDS statement) and the ...


Court Accepts Assessee's Reconciliation of TDS Statement and Audited Accounts; Revenue's Proposed Additions Deleted.

March 16, 2022

Case Laws     Income Tax     AT

Additions towards difference in the 26AS (TDS statement) and the books results - books of account of the assessee duly audited - We have noted that the audited books of accounts and reconciliation and the various entities contract amount offered for tax over a period & time. Only difference between the contract value of each party matches over a period of time irrespective of the year offered by the assessee and therefore, grievance of the Revenue that the assessee has not offered correct income is fully explained by the assessee by filing the chart. - Additions deleted - AT

View Source

 


 

You may also like:

  1. Onus on Revenue to establish taxability of alleged receipts reflected in Form 26AS but not recorded in assessee's audited books. Assessee denied transaction with...

  2. Addition made on account of sundry creditors - AO of the assessee had accepted the statement of account of that supplier as sacrosanct and proceeded to make addition in...

  3. Revenue recognition - Additions based on TDS statement 26AS - Assessee claimed a part of the amount as received in Advance while claiming the entire TDS credit in the...

  4. The assessee university's application for registration u/s 10(23C)(vi) was rejected due to non-submission of audited accounts and failure to provide necessary...

  5. Penalty u/s 271B - assessee failed to get the accounts audited - AO after due application of mind and carrying out the necessary verification has accepted the income...

  6. Penalty u/s 271B - assessee failed to get his account audited and furnish report u/s 44AB even after release of documents where were seized by the authorities - If the...

  7. CIT(A) deleted addition of interest income, accepting assessee's audited accounts following mercantile system. ITAT upheld CIT(A)'s order, allowing assessee to recognize...

  8. Assessee had filed two sets of final accounts before the AO - one of the sets was audited statement of accounts - the CIT(A) has very correctly considered the audited...

  9. TDS u/s 194J - Audit fees - Disallowance made u/s 40(a)(ia) - non deduction of tds - the name of the payee (i.e the auditor) is very well known to the assessee in order...

  10. Levy of late filing fee u/s. 234E - Due to certain technical error committed (incorrect interchanging of PAN numbers of buyer and seller in online filing of Statement...

  11. Obsolete inventory written off in accordance with accounting standards and audited financial statements should be allowed as deduction. Coordinate Bench in BG...

  12. Validity of special audit u/s 142(2A) - The Jharkhand High Court upheld the orders for a special audit of the petitioner’s accounts for the assessment years 2020-21 and...

  13. In a recent High Court case, the issue of whether advertisement expenditure could be considered as allowable revenue expenditure was discussed. The ITAT allowed the...

  14. Penalty u/s 234E - delay in filling of TDS return - Contention of the AR that since the TDS statement pertains to the period i.e for the financial year 2013-14(1st...

  15. Appeal ex-parte decided by CIT-A - AO objected to admission of the additional evidence - Audited financial statements and audited report could not be filed during the...

 

Quick Updates:Latest Updates