ITAT Directed Assessee to furnish CA certificate in Form 26A for setting aside disallowance u/s 40(a)(ia)

Sandeep Surendran Nair Vs DCIT (ITAT Raipur)

ITAT Raipur restored the matter back to the file of AO in case of disallowance u/s. 40(a)(ia) of the Income Tax Act as the CA certificate submitted was not as per the prescribed form i.e. “Form 26A”. Post submission of CA certificate in prescribed form, disallowance u/s 40(a)(ia) will be vacated.

Facts-

The assessee, who is a mechanical contractor within the cement industry, had filed his return of income for A.Y. 2014-15 on 29.11.2014 declaring an income of Rs.69,30,640/-. Subsequently, the case of the assessee was selected for scrutiny assessment under CASS. Assessment was framed by the A.O vide his order passed u/s.143(3) dated 28.12.2016, determining the income of the assessee at 1,05,18,763/- after making additions in terms of mismatch of receipts as per books and 26AS and disallowance u/s. 40(a)(ia).

CIT(A) dismissed the appeal. Being aggrieved, the present appeal is filed.

Please become a Premium member. If you are already a Premium member, login here to access the full content.