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

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Unexplained Stock and Sales Suppression Additions: ITAT Upholds CIT(A)’s Order Citing Single CCTV Footage and Lack of Corroborative Evidence [Read Order]

Franklin Joshva

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)] order and ruled that the...

ITAT Gives Relief to Assessee in PAN Mix-Up Case: Remands Matter Back to AO with Cost Condition...

Income Tax Dept Could not Place alleged accommodation entries which led to Addition u/s 69A: ITAT...

ITAT Grants Assessee One More Opportunity to Substantiate Claims regarding S.69A in interest of...

Scrap Dealer Gets Second Chance: ITAT Orders Fresh Hearing After ₹3.84 Crore Tax Dispute Dismissed...

Income Tax Addition of ₹52.3 Lakh u/s 69A: ITAT Orders Remands for Enquiry Since Assessee Was Not Grossly Non-compliant [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has remanded an income tax addition of ₹52,34,050 which was made under section 69A of the Income Tax Act, 1961 for fresh adjudication....

Husband Funded Investment in Joint Property Not Taxable: ITAT Deletes ₹2.18 Cr Addition u/s 69A [Read Order]

The Ahmedabad Benchof the Income Tax Appellate Tribunal (ITAT) has deleted an addition of ₹2,18,19,600 made under section 69A of the Income Tax Act, 1961, holding that the investment in joint...

Business Receipts Is Substantiated Source of Cash Deposit: ITAT overturns ₹5.01 Lakh Addition [Read Order]

The Cuttack Bench of the Income Tax Appellate Tribunal (ITAT) has overturned the addition of Rs. 5,01,500 made by the Assessing Officer (AO) under Section 69A of the Income Tax Act, 1961 and ruled ...

ITAT Dismisses Rs. 6.80 Cr Addition u/s 69A as Finds Transactions Duly Recorded and Explained by Assessee [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue’s appeal and upheld the deletion of a Rs. 6.80 crore addition made under Section 69A of the Income Tax Act,...

ITAT Condones 66-day Delay in Filing Appeal due to COVID Lockdown and CA's Preoccupation [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT), condoned a 66-day delay in filing an appeal, noting the COVID-19 lockdown and the preoccupation of the assessee’s Chartered...

Source of Fund of Joint Purchase of Property by Mother and Son Sufficiently Explained: ITAT Deletes ₹1.36 Cr Addition [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted an addition of Rs. 1.36 crore made by the Assessing Officer ( AO ) as unexplained investment under Section 69 of the Income Tax...

Unverified Third-Party Pen Drive Data Cannot Justify Income Tax Addition Without Confronting Taxpayer: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) set aside an addition made under Section 69A of the Income Tax Act, 1961, ruling that third-party data from a pen drive and statements...