Wrongful deduction u/s 194-IB instead of 194 C: Madras HC quashes Income Tax Addition [Read Order]

The respondents proposed three additions to the declared income, but the additions were dismissed without adequate reasoning

By Aiswarya Krishnadas - On September 16, 2024 4:59 pm - 2 mins read

Madras High Court - Madras HC - Income Tax - Income Tax Addition - Wrongful Deduction - taxscan

The Madras High Court quashed the income tax addition due to wrongful deduction under Section 194-IB instead of Section 194C of the Income Tax Act, 1961. The respondents proposed three additions to the declared income, but the additions were dismissed without adequate reasoning. The assessment proceedings in question began following the petitioner’s filing of income…

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