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Income Tax Exemption Denied due to Wrong PAN Used by Sikkimese Proprietor: ITAT Allows Claim u/s 10(26AAA) [Read Order]

Sneha Sukumaran Mullakkal

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the appeal of a Sikkim-based proprietor after finding that the exemption under...

Demonetized Notes Received from Disclosed Debtors Cannot Be Treated as Unexplained Cash: ITAT [Read...

ITAT Remands Case to AO Citing Lack of Opportunity, Orders Fresh Scrutiny of ₹2.15 Cr Demonetization...

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

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 Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that when source of the cash deposited to a bank account during the demonetization period is explained, then it cannot be...

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

The Income Tax Appellate Tribunal (ITAT) Pune Bench has allowed an appeal filed by Jyoti Santosh Parakh Swaraj Cement Distributors, setting aside an order by the Commissioner of Income Tax (Appeals)...

Cash Deposits During Demonetization from Amul Parlour Sales: ITAT Accepts Source, Deletes Rs. 27.37 Lakh Addition [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) deleted an addition of Rs. 27,37,800 and ruled that the cash deposits made during the demonetization period were explained as arising...

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...