Payment for Scrap cannot be disallowed for mere non-matching with Form 26AS

Jai Balaji Industries Limited vs DCIT (ITAT Kolkata) The assessee has pointed out that it has made advance payment of Rs.9,39,708/- to Tata Metaliks DI Pipes Limited for purchase of scrap materials. This claim of the assessee has been rejected by the Revenue Authorities on the ground that this exact amount is not discernable from the statement of 26AS. The assessee has explained its position that in the statement of 26AS, the amount for which a bill was prepared by the concerned authority would reflect and sometime it is not necessary that advance given by the assessee should match ultimately ...