No disallowance u/s 40(a)(ia) if recipient offered payment made by assessee as income – ITAT remands matter back to AO

ACIT Vs Manish Raichand Shah (ITAT Ahmedabad)

The present appeal has been filed by the Revenue against the order dated 22.01.2019 passed by the Commissioner of Income Tax (Appeals)-3, Ahmedabad, as against the Assessment order passed under section 154 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Year (A.Y) 2009-10.

2. The brief facts of the case is that the assessee is an individual and engaged in the business of trading in shares. For the Assessment Year 2009-10, t

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