https://www.taxtmi.com/highlights?id=78073 The ITAT Ahmedabad addressed various issues. On the 40(a)(ia) addition, the assessee failed to provide necessary details justifying deductions disallowed in earlier years due to non-TDS deduction. The Tribunal emphasized the need for supporting documents and allowed deductions on actual payment basis. Regarding u/s 36(1)(va), the Tribunal dismissed the appeal based on a precedent. For unsecured loan waiver, the Tribunal held that waiver of loan is not taxable u/s 28(iv) as it's a cash benefit. The Tribunal directed deletion of the addition u/s 41(1) as neither the AO nor CIT(A) invoked this provision. The assessee was granted another opportunity to present their case before the AO. en-us Mon, 03 Jun 2024 06:03:32 +0530 Mon, 03 Jun 2024 06:03:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=78073 The ITAT Ahmedabad addressed various issues. On the 40(a)(ia) addition, the assessee failed to provide necessary details justifying deductions disallowed in earlier years due to non-TDS deduction. The Tribunal emphasized the need for supporting documents and allowed deductions on actual payment basis. Regarding u/s 36(1)(va), the Tribunal dismissed the appeal based on a precedent. For unsecured loan waiver, the Tribunal held that waiver of loan is not taxable u/s 28(iv) as it's a cash benefit. The Tribunal directed deletion of the addition u/s 41(1) as neither the AO nor CIT(A) invoked this provision. The assessee was granted another opportunity to present their case before the AO. Highlights Income Tax Mon, 03 Jun 2024 06:03:32 +0530 https://www.taxtmi.com/highlights?id=78073