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

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Section 69A of the...

Proper Course of Action for Assessment Based on Information from Search must be u/s 153C: ITAT Rules S. 147 Invocation Invalid [Read Order]

Franklin Joshva

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) quashed the entire reassessment proceedings and ruled that proper course action must be...

Petrol Pump Operator’s Cash Deposits Fully Explained in Books: ITAT Deletes ₹14.10 Lakh Unexplained...

Unexplained Cash Deposits in Co-op Credit Society Require Verification: ITAT Remands ₹5 Cr Addition...

TDS Mismatch on Commission Income Compared to Form 26AS: ITAT Upholds Deletion of ₹2.16 Crore...

Reconciliation Establishes Cash Deposits as Agency Collections: ITAT Deletes ₹19.04 Lakh Addition...

Third-Party Statement Basis for Reassessment of ₹2.86 Cr Cash Deposit: ITAT remands File to CIT(A) for Source Verification [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) upheld the reassessment of ₹2.86 Cr cash deposit based on the third party's statement and remanded the file to CIT(A) for the verification of...

Non-Faceless Income Tax Reassessment Notices u/s 148 are Invalid: ITAT [Read Order]

The bench of the Income Tax Appellate Tribunal, Chennai, ruled that any reassessment notice issued by a Jurisdictional Assessing Officer (AO) after the introduction of the faceless regime is...

Assessee Claims Miscommunication Prevented Appearance Before Commissioner and led to Addition u/s 69A: ITAT remands Case to CIT(A) for Fresh Adjudication [Read Order]

The Nagpur bench of Income Tax Appellate Tribunal (ITAT) remanded the matter on money addition under section 69A after a miscommunication claim. In this case, the AO, had made an addition of ...

Fertilizer Dealer's 'October Spike' in Sales Saves the Day as ITAT Deletes Rs. 2.45 Cr Demonetization Addition [Read Order]

The Agra Bench of the Income Tax Appellate Tribunal (ITAT) dismissed a revenue appeal and upheld the deletion of an addition of Rs. 2.45 crore made on account of cash deposits during the...

Mere Presence of Blank Cheque w/o any other Evidence to show Assessee Earned any Income: ITAT upholds Deletion of Addition [Read Order]

The Delhi Bench “A” of the Income Tax Appellate Tribunal (ITAT) has held that mere possession of undated or blank cheques, without corroborative evidence of income generation or any underlying...

ITAT allows Assessee’s Plea of Farmhouse Construction from Funds Derived from Agricultural Activities, terms income “Undisclosed” [Read Order]

The Delhi Bench “A” of the Income Tax Appellate Tribunal (ITAT) has accepted the assessee’s claim that the construction of a farmhouse was funded through agricultural income and past savings, while...

Afterthought Evidence cannot Override Voluntary Returns: Kerala HC dismisses Income Tax Appeals in Cash Seizure Case [Read Order]

In a recent ruling, the Kerala High Court dismissed income tax appeals filed by two individuals who had cash seized during a travel inspection, holding that afterthought evidence cannot be used to...