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Additions on account of income on which tds has been deducted but not credited to p&l account
The ld. AO made addition on account of income on which TDS was deducted as found in Form 26AS but the income was not credited by the assessee to the P&L account. At the time of finalizing the accounts the assessee could not get details of Form No. 26AS therefore could not reconcile the income from the same. Is there any way that the assessee can take any defense against the addition?
Replies (3)
Do you have any ground to proove that the income has been offered to tax anywhere?
no you can't take any defence for addition but instead you can take immunity from 271(1)(c) penalty
No, it has not been offered to tax anywhere else. But sir, can we take our plea on the ground that the assessee is in practice of crediting the income in the p&l account on cash basis i.e., as and when the income is received by him? (although the TDS has been claimed in the return of the same year)
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