Tax Tribunal Rules Against Incorrect EPF Interest Addition

Times of India - Business · business

The Income Tax Appellate Tribunal (ITAT) Mumbai has granted relief to a taxpayer, ruling that an addition of Rs 9.6 lakh to taxable income was unsustainable. The taxpayer had erroneously declared this amount as exempt EPF interest in his Income Tax Return (ITR) filed on July 25, 2022. Despite the Income Tax Department adding the sum to his taxable income on March 11, 2024, the tribunal found no evidence the taxpayer had.