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Unexplained Cash Deposit During Demonetisation Led to Addition in Income: 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) noting that the assessee had failed...

UPI Breaks Records To Overtake VISA As World’s Top Real-Time Payment System: 650 Million Daily...

Will ₹500 Note Disappear by 2026? Truth Behind the Talk

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ITAT Confirms Legitimacy of Aries Agro’s Cash Deposits During Demonetisation Citing Clear and...

ITAT Allows Appeal, Deletes Unexplained Cash Addition of Rs.3.45 Lakh Citing Agricultural Income & Bank Withdrawal Proof [Read Order]

The Income Tax Appellate Tribunal (ITAT) Surat Bench has deleted an addition of Rs.3,45,000 made towards unexplained cash deposits, accepting the assessee’s explanation supported by agricultural...

Cash Deposit during Demonetization: ITAT partly deletes Rs. 3.5 lakh Addition based on CBDT Guidelines [Read Order]

The Raipur Bench of the Income Tax Appellate Tribunal (ITAT) has partly deleted an addition of Rs. 11,00,000 made on account of cash deposits during the demonetization period, holding that Rs. 3.5...

Bombay HC Directs RBI to Accept ₹20 Lakh Demonetized Currency due to Seizure by Income Tax Department Prior to Bank Deposit Deadline [Read Order]

In a significant ruling, the Bombay High Court directed the Reserve Bank of India (RBI) to accept and exchange ₹20 lakh in demonetized currency notes held by a Kolhapur resident since their cash was...

Confused with 2000 Rupee notes lying around for Return? Here's All You Need to Know

In a recent report, Rediff has revealed that 98.08% of ₹2,000 Banknotes have returned to Banks, according to sources from the Reserve Bank of India (RBI). The ₹2,000 banknotes were introduced in...

How to return 2000 notes - return 2000 notes to rbi - 2000 note exchange - taxscan

Cash Deposit out of Gold Loan during Demonetization, duly Explained: ITAT deletes Addition [Read Order]

The Pune bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside the appellate order and deleted the addition made by the Assessing Officer(AO) of considering gold loan amount as...

ITAT upholds Cash Sales of Business of Trading of Gold/Silver Jewellery during Demonetisation Period were Bonafide [Read Order]

The two member bench of Delhi Income Tax Appellate Tribunal ( ITAT ) upheld that cash sales of business of trading of gold /silver jewelry during the demonetisation period were bonafide. The...

ITAT - ITAT Delhi - sales of business - Gold/silver jewellery - tax news - Taxscan

Transfer of FD of Deceased Husband during Demonetisation Period for purchase Agriculture plot: ITAT Remands matter to AO for verification [Read Order]

The single member bench of Income Tax Appellate Tribunal ( ITAT ) of Pune while observing the transfer of fixed deposits of deceased husbands during the demonetisation period for purchase of...