While deleting the addition made u/s 68 of the Income Tax Act, the Mumbai ITAT held that in the absence of any dispute and discrepancy in the sales, the addition should be restricted to the extent.
The Mumbai ITAT recently clarified that mere deposit of employee s contribution before due date of filing return of income as per Section 139 of Income tax Act, will not make it eligible for.
The Mumbai ITAT restored the matter back to the file of AO to consider the lower deduction of TDS certificates and give opportunity to the assessee to explain the case.The Bench of Amit Shukla.
Relying upon the decisions of the Co-ordinate Bench, the Mumbai ITAT upheld the decision of CIT(A) in deleting the addition made u/s 68 read with section 147 of the Income Tax Act, 1961.The Bench.
The Mumbai ITAT upheld the CIT(A) s order to delete the addition made u/s 68 of the Income Tax Act, 1961 finding no unexplained cash credit in the books of assessee.The Bench of Pavan Kumar Gadale.