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Demonetization

Unexplained Cash Deposit During Demonetization Added u/s 69A: ITAT Sets Aside CIT(A) Ex-Parte Order [Read Order]

Sneha Sukumaran Mullakkal

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) set aside the ex-parte order passed by the Commissioner of Income Tax(Appeals)[CIT(A)]...

Addition of Rs.41 Lakh in Demonetized Notes Treated as Unexplained Income Due to Deposits After...

Demonetization Cash Deposits with Explained Source Not Taxable under Income Tax Act: ITAT [Read...

ITAT Allows Appeal in Demonetization-Era Case, Finds CIT(A) Order Deficient in Reasoning [Read...

Cash Deposits During Demonetization from Amul Parlour Sales: ITAT Accepts Source, Deletes Rs. 27.37...

Cash Deposits during Demonetization: ITAT directs Normal 30 % Tax Rate citing S. 115BBE not Retrospective [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the higher tax rate introduced under Section 115BBE could not be applied retrospectively in the case involving cash deposit...

ITAT gives Second Chance to Fruit Trader in Rs.28 Lakh Demonetization Case Over Procedural Lapses [Read Order]

The Income Tax Appellate Tribunal (ITAT), Panaji Bench, has granted relief to a fruit trader by remanding the matter back to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh adjudication...

AO Adds Rs. 5.38 Lakh as Unexplained Cash Deposit: ITAT Confirms Rs. 48,000 Addition as Taxpayer Fails to Prove Source [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) confirmed Rs. 48,000 as assessee failed to prove source of deposits in the case where the Assessing Officer (AO) had made an addition...

ITAT Sets Aside Rs.22.39 Lakh Addition, Validates Senior Citizen's Demonetization Deposits [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench ruled in favor of the assessee and set aside the addition of Rs.22.39 lakh made under Section 69A of the Income Tax Act, 1961. The tribunal...

CIT(A) Fails to Decide Co-operative Society’s Demonetization Cash Deposit Matter on Merits: ITAT Remands Matter [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal (ITAT) remanded the Cash deposit during the demonetization matter back to the Commissioner of Income Tax (Appeals) [CIT(A)] citing to decide the case...

Rs. 54.70 Lacs Addition for Cash Deposits During Demonetization: ITAT Grants Another Opportunity with Cost [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal(ITAT) granted another opportunity to the assessee to substantiate cash deposits of Rs. 54.70 Lakh made during the demonetization period, subject to...

ITAT Deletes ₹12 Lakh Addition on SBN Deposits Post-Demonetization, Accepts Sales as Source [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) deleted the ₹12 lakh addition made on cash deposits of Specified Bank Notes (SBNs) post-demonetization, accepting recorded sales as the...