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

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Denial of Fair Opportunity and Inadequate Evidence Examination: ITAT Restores Matter to AO [Read Order]

Sneha Sukumaran Mullakkal

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT)restored the matter to the Assessing Officer (AO) after finding that the Commissioner of...

Addition of Unexplained Share Application Money and Expenditure: ITAT Upholds Deletion by CIT(A)...

ITAT Weekly Round-Up [Feb 8th-Feb 14th,2025]

Credit Card payment without showing Income Source attracts S. 69A Addition

Таx onсe Accоunted u/s 245D(4) cаnnоt be Reаssessed u/s 69С: IТАТ deletes Additiоn Prеvеnting Dоuble...

AO classifies Agricultural Expenses as Undisclosed Income u/s 69(c): ITAT Deletes Addition [Read Order]

The Surat bench of the Income Tax Appellate Tribunal (ITAT) deleted an addition made by the Assessing Officer (AO) against the assessee on agricultural expenses as undisclosed income under Section...

ITAT sets aside Addition of Rs. 90.52 Crores under Sections 69A/69B, Remits Interest Expenditure Issue back to AO [Read Order]

Recently, the Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) set aside an enhancement of Rs. 90.52 crores made by the Commissioner of Income Tax (Appeals) CIT(A) holding that the CIT(A) had...

ITAT upholds CIT(A) Order, Dismissing Revenue's Challenge on Unexplained Loan Repayment of Rs. 1.04 Crore, based on Bank Statement Evidence [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner of Income Tax (Appeals) [CIT(A)] order, dismissing the Revenue's challenge on the unexplained loan repayment of...

Undisclosed Foreign Credit Card Expenses: ITAT sustains Income Tax Additions towards Lalit Modi [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Delhi, recently confirmed income tax additions made by an Assessing Officer on prominent business personality Lalit Kumar Modi, alleging undisclosed...

ITAT Upholds Deletion of Rs. 4 Crore Addition for Unexplained Expenditure, Citing Insufficient Evidence of Off-Book Payments [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the deletion of a Rs. 4 crore addition for unexplained expenditure under section 69C of Income Tax Act,1961, ruling that there was...

ITAT Absolves Income Taxpayer of Advance Tax Liability u/s 209 observing Lack of Implicating Material [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Hyderabad recently quashed an Order issued by the Commissioner of Income Taxes (Appeals) - National Faceless Assessment Centre ( CIT (A) ), Delhi citing...

Non filing of ITR: ITAT upholds Reassessment Proceedings [Read Order]

The Ahmedabad bench of Income Tax Appellate Tribunal ( ITAT ) upheld the reassessment proceedings after finding that the assessee did not file the income tax return. The Assessee Shivam...