Accrual of income - Difference between the receipts as per books ...

August 12, 2022

Case Laws Income Tax AT

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 of 3% during the year. Having disclosed such huge turnover, and disclosed appropriate net profit and having duly explained the difference in the turnover, as reflected in its books and in Form No.26AS there is no reason to believe that the assessee had wrongly not disclosed sales on these very small amount of Rs.3.00 lakhs and Rs.21 lakhs (approximately) from the aforesaid two parties. - AT

View Source

← Previous Next →

Accrual of income - Difference between the receipts as per books ...

August 12, 2022

Case Laws Income Tax AT

You may also like:

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...

Addition on account of difference between commission receipt declared by the assessee and as per Form 26AS - assessee has miserably failed to provide a satisfactory...

Undisclosed income - addition on the basis of amount reflected in Form No.26AS - No dispute with regard to the fact that the AO taxed the entire difference of receipts -...

Addition u/s 68 - Addition on the basis of income shown in Form No. 26AS - Mercantile system of accounting - There can be overflow of income of one preceding previous...

Reconciliation of the difference between receipts as per TDS Certificates (26AS) and receipts disclosed by the assessee - the explanation put forth by the assessee in an...

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...

Accrual of interest on FDR - once no sum is credited in the books of accounts of the assesssee, it is really not known how any figure reflected in Form 26AS can be...

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...

Revision u/s 263 - There was no enquiries raised by the AO about the mismatch in the amount of gross receipts shown by the assessee viz a viz reported in the form 26AS...

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...

Difference in gross receipts as per Form no. 26AS and books of accounts of the assessee - The assessee is following the method of accounting as per which it was...

Unexplained Receipts shown in Form No. 26AS - By putting the onus on the assessee, the AO has grossly erred as the assessee is not responsible to explain the recipients...

Addition of interest income due to the difference of income of assessee as per 26AS statement and actual interest figure shown in the profit & loss account - Extra...

Addition on account of non-reconciliation of Form 26AS - business of advertisement agency - the assessee reports only the commission portion as its income in its P & L...

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...

Quick Updates: