Cash-Basis Professional Can’t Be Taxed on Mere 26AS Entries; ITAT Deletes Addition  

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 deducted or inco...