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Cash Deposits during Demonetization Period Explained by Bank Withdrawals and “Pin Money” Household Savings: ITAT deletes Addition [Read Order]

Advika Dwivedi

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, allowed the appeal by holding that cash deposits made during demonetization could not be...

Cash Withdrawal from NRE A/c of Son-in Law deposited during Demonetization Period Sufficiently...

Income Tax Exemption Denied due to Wrong PAN Used by Sikkimese Proprietor: ITAT Allows Claim u/s...

Demonetized Notes Received from Disclosed Debtors Cannot Be Treated as Unexplained Cash: ITAT [Read...

ITAT Remands Case to AO Citing Lack of Opportunity, Orders Fresh Scrutiny of ₹2.15 Cr Demonetization...

Unexplained Cash Deposit During Demonetization Added u/s 69A: ITAT Sets Aside CIT(A) Ex-Parte Order [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) set aside the ex-parte order passed by the Commissioner of Income Tax(Appeals)[CIT(A)] concerning the addition of Rs. 12,48,000 as ...

Addition of Rs.41 Lakh in Demonetized Notes Treated as Unexplained Income Due to Deposits After 03.12.2016: ITAT Sets Aside CIT(A) Order [Read Order]

The Pune Bench of Income Tax Appellate Tribunal (ITAT) sets aside theCommissioner of Income Tax (Appeals)[CIT(A)] order confirming addition of Rs.41 lakh as unexplained income for deposits of...

Demonetization Cash Deposits with Explained Source Not Taxable under Income Tax Act: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that when source of the cash deposited to a bank account during the demonetization period is explained, then it cannot be...

ITAT Allows Appeal in Demonetization-Era Case, Finds CIT(A) Order Deficient in Reasoning [Read Order]

The Income Tax Appellate Tribunal (ITAT) Pune Bench has allowed an appeal filed by Jyoti Santosh Parakh Swaraj Cement Distributors, setting aside an order by the Commissioner of Income Tax (Appeals)...

Cash Deposits During Demonetization from Amul Parlour Sales: ITAT Accepts Source, Deletes Rs. 27.37 Lakh Addition [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) deleted an addition of Rs. 27,37,800 and ruled that the cash deposits made during the demonetization period were explained as arising...

Cash Deposits during Demonetization: ITAT directs Normal 30 % Tax Rate citing S. 115BBE not Retrospective [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the higher tax rate introduced under Section 115BBE could not be applied retrospectively in the case involving cash deposit...

ITAT gives Second Chance to Fruit Trader in Rs.28 Lakh Demonetization Case Over Procedural Lapses [Read Order]

The Income Tax Appellate Tribunal (ITAT), Panaji Bench, has granted relief to a fruit trader by remanding the matter back to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh adjudication...