Addition shall not be sustained solely on basis of AIR information and when Receipt declared by Assessee far exceeds the Amount: ITAT [Read Order]

ITAT - AIR information - exceeds the Amount - Income Tax Appellate Tribunal - Income Tax - Appellate - Annual Information Return -AIR-TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that addition shall not be sustained on the basis of Annual Information Return (AIR) information and when the receipt declared by the assessee far exceeds the amount mentioned in the information.  The assessee company filed its return of income declaring a loss of Rs.2,83,48,393/-….

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

Related Stories