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

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

Sandhra Suresh

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...

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

Assessee Claims Miscommunication Prevented Appearance Before Commissioner and led to Addition u/s...

Fertilizer Dealer's 'October Spike' in Sales Saves the Day as ITAT Deletes Rs. 2.45 Cr...

Mere Presence of Blank Cheque w/o any other Evidence to show Assessee Earned any Income: ITAT...

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...

Error in Reading Jewellery Sale as Purchase Costs CIT(A); ITAT Orders Fresh Look at Cash Deposit Addition [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal has set aside an order of the Commissioner of Income Tax (Appeals) after finding that a factual error had crept into the reading of evidence...

ITAT Reduces S.69A Additions on NRI’s Account to ₹63,133 from ₹2.28 Cr [Read Order]

The bench of the Income Tax Appellate Tribunal, Ahmedabad, has partly allowed an appeal concerning additions made under Section 69A of the Income Tax Act, 1961. The Tribunal ruled that except for...

Undisclosed Jewellery & Diary Expenses: ITAT Sets Aside Additions, Holds Family Inheritance and Household Withdrawals Sufficient to Explain Sources [Read Order]

The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) had set aside Income Tax additions of ₹41.48L under Section 69A and diary additions under section 69C and upheld the family source...

Interior Decorator’s Rs. 11 Lakh Added as Unexplained Money u/s 69A: ITAT Deletes Addition as Income was Offered to Tax [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the appeal of an interior decorator and deleted the addition of Rs. 11 lakh as unexplained money under section 69A of Income Tax ...

Time-Barred Income Tax Notice u/s 148 over Investment Scheme: ITAT quashes Reassessment [Read Order ]

The bench of the Income Tax Appellate Tribunal, Mumbai, has held that the reassessment notice issued under Section 148 of the Income Tax Act, 1961 beyond the permissible period of limitation was...