Difference in Share of Profit treated as ‘Income from Other Sources’: ITAT holds difference due to Mistake, Deletes Addition

Difference - Share of Profit - Income from Other Sources - ITAT - Difference - Mistake - Deletes Addition - Taxscan

The Pune Bench of the Income Tax Appellate Tribunal ( ITAT ) in the issue of difference in the share of profit treated as ‘Income from other sources, held that difference was due to mistake and deletes addition. The appellant, Sumit Tayal, is an individual who filed his revised return claiming exemption of 10% share…

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