No Automatic Addition Based on Form 26AS Mismatch if No Matching Bank Credits

Bimal Dilip Samani Vs ITO (ITAT Mumbai) The Mumbai Income Tax Appellate Tribunal (ITAT) partly allowed the assessee’s appeal against the order of the CIT(A)/NFAC for AY 2012-13 relating to reassessment proceedings and addition of alleged commission income based on Form 26AS entries. The assessee, proprietor of Prisha Enterprises, was engaged in distribution of SIM cards and recharge coupons for Unitech Wireless (Tamilnadu) Private Limited. No return of income had originally been filed for AY 2012-13. Based on information regarding cash deposits of ₹23.29 lakh and commission transactions re...