Ad Agency's Income Discrepancy Explained: No Adjustment Needed for Differences Between Form 26AS and Books of Accounts.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition on account of non-reconciliation of Form 26AS - business of advertisement agency - the assessee reports only the commission portion as its income in its P & L account and not the gross receipts, hence, there is always bound to be difference with regard to the amounts reflected in the Form 26AS vis-à-vis books of accounts - the explanation is reasonable and it is highly impracticable for reconciling the same in this scenario - no addition....