Additions u/s 40A(3) of Income Tax Act can’t be Initiated by AO without Furnishing Necessary Evidences: ITAT orders for Re-Consideration [Read Order]

By Sunayana Dhal - On August 25, 2023 6:00 pm - 2 mins read

Additions - Income Tax Act - Income Tax - Income Tax Act can't be Initiated by AO without Furnishing Necessary Evidences - AO - ITAT - Taxscan

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) held that additions under Section 40A(3) of the Income Tax Act, 1961 cannot be initiated by the assessing officer without furnishing necessary evidences. There was a search action in the case of the assessee under Section 132 of the Income Tax Act. Consequent to this…

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