Read all Latest Updates on and about Section 69A of the Income Tax Act

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Scrap Dealer Gets Second Chance, Scrap Dealer

Scrap Dealer Gets Second Chance: ITAT Orders Fresh Hearing After ₹3.84 Crore Tax Dispute Dismissed Without Merit Review [Read Order]

Adwaid M S

The Income Tax Appellate Tribunal (ITAT), Pune bench, has granted relief to a Maharashtra-based scrap dealer by directing a fresh hearing in his ...

Income Tax Addition of ₹52.3 Lakh u/s 69A: ITAT Orders Remands for Enquiry Since Assessee Was Not...

Husband Funded Investment in Joint Property Not Taxable: ITAT Deletes ₹2.18 Cr Addition u/s 69A...

Business Receipts Is Substantiated Source of Cash Deposit: ITAT overturns ₹5.01 Lakh Addition [Read...

ITAT Dismisses Rs. 6.80 Cr Addition u/s 69A as Finds Transactions Duly Recorded and Explained by...

ITAT Condones 66-day Delay in Filing Appeal due to COVID Lockdown and CA's Preoccupation [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT), condoned a 66-day delay in filing an appeal, noting the COVID-19 lockdown and the preoccupation of the assessee’s Chartered...

Source of Fund of Joint Purchase of Property by Mother and Son Sufficiently Explained: ITAT Deletes ₹1.36 Cr Addition [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted an addition of Rs. 1.36 crore made by the Assessing Officer ( AO ) as unexplained investment under Section 69 of the Income Tax...

Unverified Third-Party Pen Drive Data Cannot Justify Income Tax Addition Without Confronting Taxpayer: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) set aside an addition made under Section 69A of the Income Tax Act, 1961, ruling that third-party data from a pen drive and statements...

Unexplained Cash Deposits during Demonetization: ITAT Directs AO to Verify Books of Accounts and Cash Sales of Diamond and Gold Dealer [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) restored the matter to the Assessing Officer (AO) for fresh verification of books of accounts and cash sales of Diamond and Gold Dealer...

Cash Deposits Linked to Pension and Property Sale Properly explained': ITAT Quashes Unexplained Income Addition under Section 69A [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) quashed the Unexplained Income Addition under Section 69A of the Income Tax Act, 1961, by noting that the assessee had sufficiently...

ITAT Overturns CIT(A) Order, Restores Gas Agency’s Appeal Over Rs. 10.42 Lakh Demonetization Cash Deposits [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Pune Bench, has set aside an order by the Commissioner of Income Tax (Appeals) CIT(A) and restored the appeal of a Gas Agency, a partnership firm dealing...

ITAT Grants Final Opportunity Citing Demonetization Hardships, Remands Rs. 69A Addition Case Back to CIT(A) [Read Order]

The Income Tax Appellate Tribunal (ITAT) has granted a final opportunity in a case involving additions made under Section 69A of the Income Tax Act, 1961, citing demonetization-related hardships as...