Home Highlights September 2012 Year 2012 This

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1. Addition on account of income as per TDS certificate - Difference in books of accounts and TDS certificate - addition wholly unwarranted. - AT

2. Additions towards difference in interest income between interest as per Form 26AS and interest income shown in the Return of Income - Since the alleged accommodation...

3. The Department initiated the case based on income tax documents, which were public documents, and the presumption is on their truthfulness. The difference in value based...

4. Estimation of Net profit - difference between the amount shown as turnover by the assessee and as reflected in Form 26AS - only because there is a mismatch between TDS...

5. TDS returns - Due dates - Rule 31A prescribing due dates for furnishing TDS statements amended

6. Disallowance of write off of tax deducted at source (TDS) - non–allowance of TDS credit to the assessee due to non–receipt of TDS certificates amounts to loss of income...

7. Addition u/s 69C – addition on the ground that assessee deducted TDS on higher value and issued TDS certificate for higher amount - assessee explained the reasons - no...

8. Transfer of property deemed as short-term capital gain due to holding period less than 36 months, disallowing deduction u/s 54F. Additions for difference in commission...

9. Difference in receipt shown in the Profit & Loss account and as per TDS certificate - the facts on record clearly show lack of proper enquiry by the Assessing Officer....

10. Assessing Officer was right in making additions towards difference in turnover as per books of account and TDS certificates - AT

11. Difference in job work income shown in the profit & loss account and income as per form no.26AS - It is settled position of the law that no addition can be made on the...

12. The assessment reopening u/s 147 read with Section 148 was found to be unsustainable due to the lack of independent application of mind by the Commissioner of Income Tax...

13. Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

14. Difference between income shown in 26AS and as shown in profit & loss account - Income recognition - If the assessee has offered the income pertaining to the month of...

15. Double taxation of income - Single TDS certificate for two years - AT