ITAT says 26AS Can Expose a Misread Cash-Withdrawal Transaction

The Assessing Officer treated ₹10.97 lakh as interest income from Canara Bank and denied the corresponding Section 80P deduction. The Tribunal found that Form 26AS and the bank statement clearly showed TDS under Section 194N on cash withdrawals, with no TDS under Section 194A for interest, and deleted the resulting addition.