https://www.taxtmi.com/caselaws?id=446810 The ITAT Surat allowed the assessee's appeal against addition made under income from other sources based on Form 26AS entries. The CPC had added the difference between interest income in Form 26AS and net interest shown in income computation. The tribunal found the assessee had properly shown bank interest under other sources and netted interest earned against interest incurred in business income. The tribunal held that additions cannot be made solely on Form 26AS basis without factual verification, as established by various tribunal benches. The addition made by AO and confirmed by CIT(A) was deleted. en-us Wed, 27 Sep 2023 00:00:00 +0530 Tue, 12 Dec 2023 09:02:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446810 The ITAT Surat allowed the assessee's appeal against addition made under income from other sources based on Form 26AS entries. The CPC had added the difference between interest income in Form 26AS and net interest shown in income computation. The tribunal found the assessee had properly shown bank interest under other sources and netted interest earned against interest incurred in business income. The tribunal held that additions cannot be made solely on Form 26AS basis without factual verification, as established by various tribunal benches. The addition made by AO and confirmed by CIT(A) was deleted. Case-Laws Income Tax Wed, 27 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446810