![AO Bound to give Explanation for Not Accepting Submissions of Assessee through a Speaking Order u/s 69 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/AO-Explanation-Assessee-Income-Tax-Act-ITAT-Income-Tax-Taxscan.jpg "AO Bound to give Explanation for Not Accepting Submissions of Assessee through a Speaking Order u/s 69 of Income Tax Act: ITAT [Read Order]")
AO Bound to give Explanation for Not Accepting Submissions of Assessee through a Speaking Order u/s 69 of Income Tax Act: ITAT [Read Order]
The Chandigarh Income Tax Appellate Tribunal (ITAT) has recently held that assessing officers are bound to give explanation for not accepting...
![Addition cannot be Solely Based on Statement of Director of Company during Survey without Independent Finding by AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Addition-Statement-Director-of-Company-Survey-AO-ITAT-Taxscan.jpg "Addition cannot be Solely Based on Statement of Director of Company during Survey without Independent Finding by AO: ITAT [Read Order]")
![No Evidence to prove Nature and Source of Property: ITAT upholds Income Addition u/s 69 A [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Evidence-Nature-and-Source-of-Property-Source-of-Property-ITAT-Income-Tax-Property-Income-Addition-taxscan-.jpg "No Evidence to prove Nature and Source of Property: ITAT upholds Income Addition u/s 69 A [Read Order]")
![No Addition u/s 69 of Income Tax Act when Cash Deposit, genuinely made in Bank Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Cash-Deposit-Bank-Account-Addition-Income-Tax-Act-ITAT-Income-Tax-taxscan.jpg "No Addition u/s 69 of Income Tax Act when Cash Deposit, genuinely made in Bank Account: ITAT [Read Order]")
![No Evidence to Prove that Assessee made Payment beyond Sale Agreement: ITAT deletes Addition for Unexplained Investment [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/03/site-image3-2-6.jpg "No Evidence to Prove that Assessee made Payment beyond Sale Agreement: ITAT deletes Addition for Unexplained Investment [Read Order]")
Assessing Authority exceeds Jurisdiction for making Assessment in respect of Acquisition of the Property: ITAT Deletes Addition [Read Order]
The Jodhpur bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the Assessing officer exceeded jurisdiction for making assessment in respect of acquisition of the property and...
![Assessing Authority exceeds Jurisdiction for making Assessment in respect of Acquisition of the Property: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Assessing-Authority-Jurisdiction-Assessment-Acquisition-Property-Acquisition-of-the-Property-ITAT-taxscan.jpeg "Assessing Authority exceeds Jurisdiction for making Assessment in respect of Acquisition of the Property: ITAT Deletes Addition [Read Order]")
Account Holder must prove that Money Deposited in the Joint Account belongs to Another Account Holder: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Amritsar bench recently held that the account holder must be able to prove that the money deposited in his joint account belongs to another account holder...
![Account Holder must prove that Money Deposited in the Joint Account belongs to Another Account Holder: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Money-Deposited-Taxscan.jpg "Account Holder must prove that Money Deposited in the Joint Account belongs to Another Account Holder: ITAT [Read Order]")
No Addition when Source of Funds was referable to Monies Pooled from Customers in the Form of Advances Received and Sales effected in Business: ITAT [Read Order]
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) in Dyapa Rajini vs. Income Tax Officer held that no addition under Section 69 of the Income Tax Act, 1961 could be made when source of funds...
![No Addition when Source of Funds was referable to Monies Pooled from Customers in the Form of Advances Received and Sales effected in Business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/05/Monies-Taxscan.jpg "No Addition when Source of Funds was referable to Monies Pooled from Customers in the Form of Advances Received and Sales effected in Business: ITAT [Read Order]")
Investment in Jewellery can’t be treated as Unexplained when it is Reflected in Books & the Source of Fund is Evidenced through Bank A/c: ITAT [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal, in its recent order said that Investment in Jewellery cannot be treated as Unexplained when it is reflected in the books & the source of Fund is...
![Investment in Jewellery can’t be treated as Unexplained when it is Reflected in Books & the Source of Fund is Evidenced through Bank A/c: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/05/excise-duty-on-jewellers.jpg "Investment in Jewellery can’t be treated as Unexplained when it is Reflected in Books & the Source of Fund is Evidenced through Bank A/c: ITAT [Read Order]")
Investment Shown under the head ‘Current Asset’ in the balance Sheet can’t be treated as Unexplained: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that if the assessee has disclosed investment under current assets in the balance sheet, then the same cannot be treated as...
![Investment Shown under the head ‘Current Asset’ in the balance Sheet can’t be treated as Unexplained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/Investment-Funds-Taxscan.jpg "Investment Shown under the head ‘Current Asset’ in the balance Sheet can’t be treated as Unexplained: ITAT [Read Order]")
Amount Received by Assessee from Firm as a beneficiary can’t be treated as ‘Unexplained’: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that amounts received by the assessee from the firm as a beneficiary cannot be treated as unexplained for the purpose of...
![Amount Received by Assessee from Firm as a beneficiary can’t be treated as ‘Unexplained’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Cash-Transaction-Limit.jpg "Amount Received by Assessee from Firm as a beneficiary can’t be treated as ‘Unexplained’: ITAT [Read Order]")