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Taxpayer Yet to Prove Source of Deposit from Property Sale to Father: ITAT Remands Cash Deposit Matter for Verification [Read Order]

Franklin Joshva

The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has remanded the to the file of the Assessing Officer (AO) for fresh adjudication...

Bank Confirmed No Demonetized Currency Deposit on Specific Date: ITAT Deletes ₹15.45 Lakh Cash...

Reassessment on Demonetization Cash Deposits already Examined in Original Assessment Held Void ab...

Error in Reading Jewellery Sale as Purchase Costs CIT(A); ITAT Orders Fresh Look at Cash Deposit...

ITAT quashes Ex-Parte Order in Real Estate Cash Deposit Case Directing Fresh Hearing on Income Tax...

Cash Deposit of Rs. 8 Lakh from Sale of Casuarina Trees Treated as ‘Income from Other Sources’: ITAT Deletes Addition [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) deleted an addition of Rs. 8,00,000 made by the Assessing Officer (AO), which was treated as ‘income from other sources’ despite being a ...

Cash Deposit of ₹10 Lakh Claimed as Gift from Deceased Grandmother Lacked Evidence: ITAT Grants Partial Relief by Deleting ₹5 Lakh [Read Order]

The Pune Bench of Income Tax Appellate Tribunal ( ITAT ) partly allowed the appeal of the assessee, noting that the ₹10 lakh cash deposit claimed as a gift from his deceased grandmother lacked ...

Addition of Rs. 6.75 Lakh Gifts from Sister and Father-in-Law by AO: ITAT Deletes Addition, Accepts Proof of Receipt [Read Order]

The Chandigarh Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs. 6.75 lakh gifts from the sister and father-in-law made by the Assessing Officer (AO ), accepting the proof...

Senior Citizen’s Demonetization ₹10.46L Deposits Explained as Prior Withdrawals: ITAT Sets Aside Cash Deposit Addition u/s 69A [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has held that cash deposits made by the assessee during the demonetization period were explained as being sourced from earlier...

Retd IAS officer’s Demonetization Cash Deposit Addition of ₹23.33 Lakh Cut to 50%: ITAT applies 30% Tax u/s 115BBE [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) has allowed the appeal by the assessee by restricting the addition of demonetization cash deposits to 50% and held that the...

Wedding Gifts Not Taxable under Income Tax: ITAT deletes ₹10 Lakh Cash Deposit Addition [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ), while deleting an addition of ₹10L made as unexplained cash deposit under Section 69A of the Income Tax Act, 1961, held that...

Tax Consultant’s Negligence and Rural Location Causes 253-Day Appeal Delay: ITAT Remands Cash Deposit Case for fresh Adjudication [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) has condoned a delay of 253 days in filing an appeal and observed that the delay was due to the assessee’s location in a backward...