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

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Section 69A of the...

Taxpayer Not Well Versed with Income Tax Proceedings: ITAT Gives Final Opportunity, Directs Compliance [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench, gave the assessee-appellant a final opportunity to comply and participate in the proceedings...

AO & CIT(A) Denied Hearing in Income Tax Assessment: ITAT Directs De Novo Speaking Order for ₹17L...

ITAT Weekly Round-up

Proper Course of Action for Assessment Based on Information from Search must be u/s 153C: ITAT Rules...

Petrol Pump Operator’s Cash Deposits Fully Explained in Books: ITAT Deletes ₹14.10 Lakh Unexplained...

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

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, holding that cash deposits in a co-operative credit...

TDS Mismatch on Commission Income Compared to Form 26AS: ITAT Upholds Deletion of ₹2.16 Crore Addition citing Audited Books [Read Order]

The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) confirmed the deletion of an addition of ₹2,16,27,822 made under Section 69A of the Income Tax Act, 196 due to a mismatch between the ...

Reconciliation Establishes Cash Deposits as Agency Collections: ITAT Deletes ₹19.04 Lakh Addition u/s 69A [Read Order]

The bench of the Income Tax Appellate Tribunal, Chandigarh (ITAT), deleted the addition of ₹19,04,800 made under Section 69A of the Income Tax Act, 1961, holding that the assessee had duly...

Third-Party Statement Basis for Reassessment of ₹2.86 Cr Cash Deposit: ITAT remands File to CIT(A) for Source Verification [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) upheld the reassessment of ₹2.86 Cr cash deposit based on the third party's statement and remanded the file to CIT(A) for the verification of...

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

The bench of the Income Tax Appellate Tribunal, Chennai, ruled that any reassessment notice issued by a Jurisdictional Assessing Officer (AO) after the introduction of the faceless regime is...

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...