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Section 115BBE of Income Tax Act Applies on Transactions On or After 01.04.2017 Only: ITAT [Read Order]

Advika Dwivedi

The Income Tax Appellate Tribunal (ITAT), Delhi, held that the provisions of Section 115BBE of the Income Tax Act, 1961, are applicable only to...

Income Tax Notices sent to Old E-mail Address, Made Ex-parte Addition u/s 69A: ITAT Restores Matter...

Inadvertent Email Oversight: ITAT remits Appeal to CIT(A) for Adjudication on Merits with ₹15,000...

ITAT Orders Fresh Probe into Rs.50 Lakh Cash Robbery Case, Asks Department to Verify Farmers’ Claims...

Reassessment Initiated Based on Incorrect Non-Filing of ITR Alert from Insight Portal: Patna HC...

ITAT Sets Aside Assessment Order on Cash Deposits During Demonetization due to Violation of Natural Justice [Read Order]

The assessee, Keyur Rajeshbhai Agrawal, has appealed against the order passed by the Commissioner of Income Tax (Appeals) [CIT(A)] for the assessment year 2017-18. It was the 8th time the case was...

Cash Deposits during Demonetization as Duly Explained: ITAT Deletes Rs. 15 Lakh addition u/s 69A [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs. 15 lakhs made under Section 69A of the Income Tax Act as the cash deposits that were made by the assessee...

Double Taxation and Procedural Lapses: ITAT Quashes Addition of ₹62 Lakhs as Unexplained Cash [Read Order]

The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) set aside an addition of ₹ 62 Lakhs on the assessee based on alleged dissimilarities in the amount of cash recorded in the audit books and...

AO cannot question Creditor's Creditworthiness When Books Clearly Reflect Source, Identity, and Repayment of Funds: ITAT [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the Assessing Officer ( AO ) cannot question the creditworthiness of creditors when the assessee’s books of account and...

ITAT directs Reconsideration of LTCG Claim owing to New Evidence including Cheque Transactions [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ranchi Bench, has set aside the order of the Commissioner of Income Tax (Appeals) (CIT(A)) and directed the reassessment of the long-term capital gain (LTCG)...

Inadequate Decision by CIT(A) on Rs. 11.45 Lacs Unexplained Money Addition: ITAT Remits Matter [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) remitted the matter back due to inadequate discussion by the Commissioner of Income Tax(Appeals)/National Faceless Assessment...

Cash Deposits from Business Income during Demonetization cannot be treated as Unexplained Entirely: ITAT upholds 20% of Additions due to Unknown Source

The Surat Bench of Income Tax Appellate Tribunal ( ITAT ) held that the cash deposits made during demonetization out of business income cannot be treated as unexplained cash deposits completely....