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Unexplained Expenditure Addition of ₹77.47 Crore: ITAT Sets Aside Assessment Over Natural Justice Violation [Read Order]

Sneha Sukumaran Mullakkal

The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT) set aside an assessment order involving an unexplained expenditure addition of ₹77.47...

ITAT Upholds CIT(A) Deletion of ₹2.17 Crore Addition u/s 69C Due to Lack of Evidence on Unexplained...

Reassessment u/s 147 Requires Fresh Tangible Material, Mere Reliance on Investigation Report...

ITAT Directs AO to Consider Fresh Evidence in Unexplained Expenditure Addition u/s 69C [Read Order]

Madras HC - I-T Assessment Order - Unexplained Expenditure - Reasonable - Orders Portal Reopening - TAXSCAN

Madras HC quashes I-T Assessment Order adding Rs. 16Cr Unexplained Expenditure without Providing...

Addition on Unexplained Expenditure of Income not Justifiable when Income is Estimated u/s 44 AD of Income Tax Act: ITAT Deletes Income Tax Addition [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that addition under Section 69 of the Income Tax Act was not justifiable when the income was estimated under Section 44 A.D of the...

ITAT quashes GP Ratio Application on Gross Receipts in Absence of Suppression or Discrepancy, upholds Addition of Unexplained Expenditure u/s 69C of IT Act as Negotiations Not Proved

The Income Tax Appellate Tribunal (ITAT), Delhi bench has quashed the rejection of books of accounts of the assessee and the Gross Profit (GP) Ratio application on Gross Receipts in the absence of...

Additional Income cannot be Treated as Unexplained Expenditure to Invoke Section 115BBE of Income Tax Act: ITAT [Read Order]

The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) held that the additional income cannot be treated as unexplained expenditure under Section 69C of the Income Tax Act, 1961 to attract...

Sales Reversal Entry is not Unexplained Expenditure: ITAT quashes Revision Proceedings [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), quashed revision proceedings under Section 263 of the Income Tax Act, 1961 and held that the sales reversal entry is not unexplained...

Income Addition on Unexplained Expenditure is valid When Assessee fails to Explain the Source of Expenditure: ITAT [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that income Addition on unexplained Expenditure is valid when assessee fails to explain the source of expenditure Shri...

WhatsApp Messages are 'Dumb Document' without Corroborative Evidence: ITAT quashes Addition against BJP MLA for alleged Distribution of Cash for Votes [Read Order]

In a major relief to BJP MLA Shri A John Kumar, the Income Tax Appellate Tribunal (ITAT), Chennai bench has deleted an addition under section 69C of the Income Tax Act for alleged distribution of...

Addition for Unexplained Expenditure cannot be made merely on Assumptions without Documents: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the addition for unexplained expenditure under section 69C of the Income Tax Act, 1961 cannot be made merely on the assumptions...