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 April 2021 Year 2021 This

Estimation of Net profit - difference between the amount shown ...


Tax Discrepancy in Turnover vs. Form 26AS Needs More Than Mismatch for Justifying Additions.

April 17, 2021

Case Laws     Income Tax     AT

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 certificate (26AS) and turnover shown by the assessee in its P& L account cannot be the sole basis on which the entire addition of the difference could have been brought to tax. - AT

View Source

 


 

You may also like:

  1. Assessee failed to justify receipt discrepancy between ITR and Form 26AS, AO made addition considering it as fees for technical services and imposed penalty u/s 270A for...

  2. Non-payment of service tax - manpower supply service - differences in the figures reflected in ST-3 Returns and in form 26AS - form 26AS is not a statutory document for...

  3. Accrual of income - Difference between the receipts as per books and form No.26AS - Assessee has shown turnover of Rs.10.09 crores, declaring GP at 9.16% and Net Profit...

  4. Short payment of service tax - Difference in receipts between ST-3 return and Form-26AS (TDS certificate) - It is established principle of law that the turnover figures...

  5. Validity Of Order - Tax demand based on Audit observations - variation between the GSTR 3B return and Form 26AS - The High Court observed that there could be duplication...

  6. ITAT allowed partial relief to appellant, a railway guard, regarding TDS credit denial. While non-response to notices due to frequent travel was deemed an inadequate...

  7. Petitioner challenged impugned order regarding GST discrepancies, failing to avail opportunity of personal hearing. Court held that notice was issued by respondent based...

  8. Interpretation of statute - Levy of VAT - credit note received subsequent to the date of the invoice - Determination of Turnover - Input Tax Credit - Large Bench...

  9. Addition on account of mismatch in the interest amount with form 26AS - The transaction shown in form 26AS cannot be taken as the gospel truth that it represents the...

  10. Un-reconciled entries on account of non-reconciliation of AIR information - Entries in the 26AS form not accepted by the assessee - Addition on the basis of AIR...

  11. Addition in the income of the assessee by treating as income from other sources - Additions based on TDS form 26AS - As per the record, the assessee was not having any...

  12. Additions based on 26AS statement - undisclosed income - Petitioner has not made any complaint at any stage regarding any fictitious or wrong entries in the 26AS...

  13. Evasion of tax - mismatch in the e-way bill and the branch transfer invoice - levy of penalty and tax on the petitioner - The High Court observed that, even if there was...

  14. The High Court ruled that when tax deducted at source (TDS) is not initially credited but the relevant certificate or Form 26AS is subsequently presented, the Assessing...

  15. Penalty levied u/ss 271(1)(c) and 271AAA for unexplained investment and addition made by adopting net profit as per the books of accounts at 12.85% on the suppressed...

 

Quick Updates:Latest Updates