Case Law Analysis
|Income Tax Appellate Tribunal
Form 26AS Receipts Taxable on Cash Basis If Accrual Method Not Substantiated : ITAT Delhi
ITAT Delhi rules that contractual receipts reflected in Form 26AS are taxable in the year of receipt if the taxpayer fails to prove deferral under the accrual or completed contract method. The ruling shifts the burden of proof to the assessee to justify deferral, impacting tax assessments for businesses with disputed or unrecognized revenue.