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Section 68 of Income...

Re-Deposits of Cash in Hand during Demonetisation: ITAT deletes ₹18.25 Lakh Addition [Read Order]

Manu Sharma

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) checked cash deposits made during the demonetisation period, ultimately deleting an...

Unexplained Cash Deposit during Demonetization: ITAT directs Assessee to Establish Genuineness [Read...

CIT(A) Erroneous in dismissing Appeal for Non-Compliance w/o Addressing Merits: ITAT [Read Order]

ITAT Remands Case to AO after CIT (A) Rejects ITR and other Documents Linked to Unexplained Cash...

CIT (A) cannot Dismiss Appeal for Non-Prosecution u/s 250 (6): ITAT orders for Fresh-Adjudication...

Non-Verification of Gifts from Grandmother: ITAT remands Matter for Consideration of Additional Documents [Read Order]

In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) ordered JAO to consider additional documents filed before CIT(A) due to non - verification of gifts that were...

Proper Adjudication and Verification needed for Addition of Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the matter to the Assessing Officer (AO) for proper verification and adjudication under Section 68 of Income Tax Act, 1961 after...

Genuineness of small-time Investments: ITAT directs AO to delete Additions of Rs.22,02,620/- [Read Order]

In a recent decision by the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ), the question of the genuineness of investments made by small-time investors in a limited company was addressed....

Receipt of Subscription Amount from Holding Company: Calcutta HC reaffirms Income Tax Addition Deleted by ITAT [Read Order]

The Calcutta High Court recently in a case reaffirmed Income Tax Appellate Tribunal ( ITAT ) deletion of addition made on Income Tax under section 68 of the Income Tax Act 1961. Consequently, the...

Addition u/s 68 of Income Tax Act is invalid as AO fails to Verify Genuineness of Transaction: Calcutta High Court dismiss Appeal [Read Order]

The Calcutta High court dismissed the appeal as it lacked a substantial question of law. The Court found that the addition was made under section 68 of the Income Tax Act, 1961 as the Assessing...

No Physical Notice of Hearing served by Income Tax First Appellate: ITAT sets aside CIT (A)’s Ex Parte Order [Read Order]

In a recent case, The Income Tax Appellate Authority (ITAT) of Delhi set aside the Ex Parte order given by the Commissioner of Income Tax (Appeals) [ CIT(A) ]. The appellant/assessee, K...

Identity of Parties, Share Applicant, Vendor, Promoters and Genuineness of Transaction of Land is duly established: ITAT deletes addition of ₹3 Cr [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of 3 crore Rupees, finding that the identity of the parties, share applicants, vendors, and promoters, as well...

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