Form 26AS Receipts Cannot Be Taxed Without Proper Reconciliation: ITAT Nagpur

Bizcloud Vs ITO (ITAT Nagpur) In the case of involving reassessment proceedings for AY 2017–18, the Income Tax Appellate Tribunal (ITAT), Nagpur Bench, partly allowed the assessee’s appeal for statistical purposes and restored the issue of turnover reconciliation to the Assessing Officer (AO) for fresh adjudication. The assessee, a partnership firm, was subjected to reassessment proceedings after the AO observed from the ITBA system that professional receipts amounting to ₹1,42,87,000 were reflected in Form 26AS on which tax had been deducted under Section 194J by M/s Excellon Softwares ...