Gujarat HC Upholds Deletion of Addition as AO Failed to Verify Form 26AS Difference

PCIT Vs MBC Infra Space Pvt. Ltd. (Gujarat High Court) The Gujarat High Court dismissed the Revenue’s appeal filed under Section 260A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate Tribunal for Assessment Year 2013-14. The dispute arose from the deletion of an addition of Rs. 3,74,27,513 made by the Assessing Officer on account of the difference between payments reflected in Form 26AS and the assessee’s books of account. The original assessment under Section 143(3) had also included a disallowance relating to employees’ contribution towards PF. However, th...