Read all Latest Updates on and about Section 69A of the Income Tax Act

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Unexplained Cash Deposits in Co-op Credit Society Require Verification: ITAT Remands ₹5 Cr Addition u/s 69A for Fresh Adjudication [Read Order]

Sandhra Suresh

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has remanded a ₹5 crore addition made under Section 69A of the Income Tax Act,...

TDS Mismatch on Commission Income Compared to Form 26AS: ITAT Upholds Deletion of ₹2.16 Crore...

Reconciliation Establishes Cash Deposits as Agency Collections: ITAT Deletes ₹19.04 Lakh Addition...

Third-Party Statement Basis for Reassessment of ₹2.86 Cr Cash Deposit: ITAT remands File to CIT(A)...

Non-Faceless Income Tax Reassessment Notices u/s 148 are Invalid: ITAT [Read Order]

Assessee Claims Miscommunication Prevented Appearance Before Commissioner and led to Addition u/s 69A: ITAT remands Case to CIT(A) for Fresh Adjudication [Read Order]

The Nagpur bench of Income Tax Appellate Tribunal (ITAT) remanded the matter on money addition under section 69A after a miscommunication claim. In this case, the AO, had made an addition of ...

Fertilizer Dealer's 'October Spike' in Sales Saves the Day as ITAT Deletes Rs. 2.45 Cr Demonetization Addition [Read Order]

The Agra Bench of the Income Tax Appellate Tribunal (ITAT) dismissed a revenue appeal and upheld the deletion of an addition of Rs. 2.45 crore made on account of cash deposits during the...

Mere Presence of Blank Cheque w/o any other Evidence to show Assessee Earned any Income: ITAT upholds Deletion of Addition [Read Order]

The Delhi Bench “A” of the Income Tax Appellate Tribunal (ITAT) has held that mere possession of undated or blank cheques, without corroborative evidence of income generation or any underlying...

ITAT allows Assessee’s Plea of Farmhouse Construction from Funds Derived from Agricultural Activities, terms income “Undisclosed” [Read Order]

The Delhi Bench “A” of the Income Tax Appellate Tribunal (ITAT) has accepted the assessee’s claim that the construction of a farmhouse was funded through agricultural income and past savings, while...

Afterthought Evidence cannot Override Voluntary Returns: Kerala HC dismisses Income Tax Appeals in Cash Seizure Case [Read Order]

In a recent ruling, the Kerala High Court dismissed income tax appeals filed by two individuals who had cash seized during a travel inspection, holding that afterthought evidence cannot be used to...

Error in Reading Jewellery Sale as Purchase Costs CIT(A); ITAT Orders Fresh Look at Cash Deposit Addition [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal has set aside an order of the Commissioner of Income Tax (Appeals) after finding that a factual error had crept into the reading of evidence...

ITAT Reduces S.69A Additions on NRI’s Account to ₹63,133 from ₹2.28 Cr [Read Order]

The bench of the Income Tax Appellate Tribunal, Ahmedabad, has partly allowed an appeal concerning additions made under Section 69A of the Income Tax Act, 1961. The Tribunal ruled that except for...