Addition on account of mismatch in the interest amount with form ...

Revenue Must Verify Form 26AS Transaction Claims Before Assuming Unreported Income, Especially for Expense Reimbursements.

March 4, 2023

Case Laws Income Tax AT

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 income in the hands of the assessee especially in a situation where the assessee has contended that the above amount representing was reimbursement of the expenses. In such a situation, the Revenue is expected to be more vigilant before reaching to the conclusion that the assessee has not shown certain income. - AT

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Addition on account of mismatch in the interest amount with form ...

Revenue Must Verify Form 26AS Transaction Claims Before Assuming Unreported Income, Especially for Expense Reimbursements.

March 4, 2023

Case Laws Income Tax AT

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