https://www.taxtmi.com/caselaws?id=458196 The ITAT Chandigarh allowed the assessee's appeal against an addition made u/s 143(1) based on interest income reflected in Form 26AS. The AO's remand report verified that the same transaction was accepted in subsequent assessment year proceedings. The CIT(A) failed to consider the nexus between income and expenditure or address the AO's remand report accepting the assessee's claim. The tribunal found no merit in sustaining the addition and directed its deletion, noting the CIT(A) only considered quantum differences between assessment years without proper analysis. en-us Mon, 15 Jan 2024 00:00:00 +0530 Mon, 14 Oct 2024 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458196 The ITAT Chandigarh allowed the assessee's appeal against an addition made u/s 143(1) based on interest income reflected in Form 26AS. The AO's remand report verified that the same transaction was accepted in subsequent assessment year proceedings. The CIT(A) failed to consider the nexus between income and expenditure or address the AO's remand report accepting the assessee's claim. The tribunal found no merit in sustaining the addition and directed its deletion, noting the CIT(A) only considered quantum differences between assessment years without proper analysis. Case-Laws Income Tax Mon, 15 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458196