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Deposit Made as a Reserve Amount for Business During Demonetization Period not amount to Unexplained Income: ITAT Deletes Addition [Read Order]

Sunayana Dhal

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that deposits made as a reserve amount for the business during the demonetization...

Not Every Deposit during Demonetization Period will under category of Unaccounted Cash: ITAT directs...

ITAT restores matter to consider Source of Cash Deposited with Sale Proceeds of LPG Cylinder during...

Cash Deposited in Bank Accounts during Demonetization Period reflected in Books of Account of...

Source of Cash Deposit During Demonetization Cannot be Brushed Aside without Evidence to Contrary:...

Section 115BBE not applicable to Undisclosed Assets Deposited in Bank Post-Demonetization when Assets found in premises prior to Demonetization: ITAT

The Surat Bench of Income Tax Appellate Tribunal (ITAT) has held that Section 115BBE of the Income Tax Act 1961 would not be applicable as the undisclosed assets deposited in the bank accounts in the...

Alimony Received on Divorce is not Unexplained Cash Credit u/s 68, not Taxable u/s115BBE: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Raipur Bench, has recently held that alimony received on divorce is not unexplained cash credit under Section 68, and that the same is not taxable under...

ITAT quashes Addition Against Practicing Doctor for Cash Deposit during Demonetization [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has quashed the addition made against a practicing doctor for cash deposit during the demonetisation period. During the course of assessment...

Cash from Sister-In-Law received in Bank Accounts during Demonetization Period is not gift: ITAT upholds Addition [Read Order]

The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that cash received from sister-in-law deposited in bank accounts during the demonetization period is not a gift. Hence, the...

Cash Deposit during Demonetization out of Alimony from Husband: ITAT deletes Addition u/s 115BBE of Income Tax Act [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune bench has deleted an addition under section 115BBE of the Income Tax Act, 1961 considering the fact that the cash deposit during demonetization was out...

No Addition can be made Against Individual for Cash Deposit of Tuition Fee received from Students during Demonetization Period: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, has deleted an addition under section 69A of the Income Tax Act, 1961 in respect of cash deposit during demonetization period holding that the...

Re-Deposit of Cash during Demonetization for House Renovation and Marriage of Son is “Normal Conduct of an Ordinary Man”: ITAT deletes Addition [Read Order]

While deleting an addition under section 69A of the Income Tax Act, 1961, the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the re-deposit of cash after the declaration of the...

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