ITAT upholds CIT(A) decision, Rejects Revenue’s Claim of Rs.8.77 Crore Income Understatement, Confirms Booking Advances, Not Consultancy Fees [Read Order]

The ITAT noted that no TDS had been deducted on the amount, further supporting the fact that it was not income from consultancy services

By Sneha Sukumaran Mullakkal - On November 24, 2024 11:29 am - 2 mins read

ITAT - Income Tax - ITAT Ahmedabad - Income Tax Appellate Tribunal - Commissioner of Income Tax - TAXSCAN

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the decision of the Commissioner of Income Tax(Appeals)[CIT(A)], rejecting the Revenue’s claim of Rs. 8.77 Crore income understatement. It confirmed that the amount in question represented booking advances for flat sales, not income from consultancy services. The Revenue-appellant has filed this appeal against…

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