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Cash-Basis Professional Can’t Be Taxed on Mere 26AS Entries; ITAT Deletes Addition
Case Law Details
- Case Name
- Rajesh Mohan Singh Hajari Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Mumbai
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Rajesh Mohan Singh Hajari Vs ITO (ITAT Mumbai)
Reassessment u/s 147 was initiated on the basis of Form 26AS reflecting higher professional receipts than those offered by Assessee, a medical professional consistently following cash system of accounting. AO taxed ₹2,02,968 as accrued professional income & also denied Chapter VI-A deduction of ₹1.30 lakh in computation.
Tribunal held that where Assessee follows cash basis regularly & there is no change in method of accounting, income not actually received during the year cannot be brought to tax merely because TDS was...
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