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Section 68 of Income...

Long-Term Capital Gains cannot be deemed Bogus as AO fails to prove Price Rigging: ITAT [Read Order]

In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that in the present case, long-term capital gains cannot be...

ITAT invalidates Reassessment proceeding: No addition made by AO in respect of the issue for which...

ITAT Remands Case Back to CIT(A) for Fresh Adjudication Over Unsecured Loans of Rs.1.42 Crore [Read...

₹3 Crores Gift from NRI Son to Mother Deemed Valid and Non-Taxable: ITAT Citing Donor's Sufficient...

Income Tax - Case Digest - Addition on Cash - Digest - Income Tax Act 1961- taxscan

Income Tax Case Digest: Addition on Cash Deposits - Part 1

Madras HC rules 60% Tax Rate for Demonetization Deposits u/s 115BBE applies Prospectively from 01.04.2017, Orders 30% Tax Reassessment [Read Order]

In a recent ruling, the Madurai Bench of Madras High Court ruled that the increased 60% tax rate under Section 115BBE of the Income Tax Act applies prospectively from 01.04.2017 and ordered...

Madras HC -Tax Rate for Demonetization Deposits- Prospectively -Tax Reassessment - taxscan

ITAT Weekly Round Up

This weekly round-up analytically summarizes the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the previous week 9th November 2024 to 15th November...

ITAT Remands Case to CIT(A) for Reassessment, Allowing Assessee Another Opportunity to Substantiate Rs. 51.20 Lacs Cash Credit [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the case to the Commissioner of Income Tax (Appeals) [CIT(A)] for reassessment, allowing the assessee another opportunity to...

ITAT directs AO to delete Additions u/s68, confirming Source of Investment [Read Order]

The Visakhapatnam Bench of Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer ( AO ) to delete the additions made under section 68 of the Income Tax Act,1961 confirming that the...

Revisionary Proceedings u/s 263 Income Tax Act cannot be invoked merely on Stock Valuation on Second Opinion: ITAT [Read Order]

In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) held that the revisionary proceedings under Section 263 Income Tax Act, 1961, cannot be invoked merely on stock...

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

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) checked cash deposits made during the demonetisation period, ultimately deleting an addition of ₹18.25 lakh imposed by the Assessing...

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

In a ruling recently, the Income Tax Appellate Tribunal ( ITAT ) of Bangalore, directed an individual assessee to substantiate the genuineness of a large cash deposit made during the 2016...

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