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Addition made by AO u/s 69A r.w.s 115BBE of Income Tax Act due to Non Filing of ROI : ITAT Directs Re-adjudication [Read Order]

Shabna Rahim

The NewDelhi bench of the Income Tax Appellate Tribunal (ITAT) directed re-adjudication to the assessing officer for an addition made under section...

Addition made u/s 69 of Income Tax Act on ground of Unexplained Investment on Bank Account: ITAT...

S. 69 Addition not Sustainable on Mere Delay in Deposit During Demonetisation Period: ITAT [Read...

No Addition of LTCG can be made u/s 69A on Account of Alleged Unexplained Investment in Jewellery:...

Section 69A of IT Act not applicable if Assessee has plausible Explanation regarding Source of...

Bitumen not 'Valuable Article’, Carrier of Bitumen not ‘Owner' u/s 69A of Income Tax Act: Supreme Court [Read Judgement]

In a major ruling the Supreme Court of India observed that bitumen cannot be treated as a ‘valuable article’ under Section 69A of the Income Tax Act, 1961 and the ownership of the goods did not pass...

Undisclosed Investments in Unaccounted Stock should be Taxed Separately: ITAT [Read Order]

The Pune Bench of Income Tax Appellate Tribunal (ITAT) has held that, the undisclosed investments in the unaccounted stocks of the assessee should be taxed separately. The assessee, Saitawadekar...

ITAT deletes Additions on Unexplained Cash Deposit u/s 69A and 68 due to Proper Explanation by Assessee [Read Order]

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) deleted the additions on unexplained cash deposits under Sections 69A and 68 of Income Tax Act, 1961 upon receipt of proper explanation...

ITAT quashes Addition Against Practicing Doctor for Cash Deposit during Demonetization [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has quashed the addition made against a practicing doctor for cash deposit during the demonetisation period. During the course of assessment...

S. 69A Addition cannot be Based on Surmises, Conjectures and Hypothesis: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has held that Section 69A addition under the Income Tax Act, 1961 cannot be based on surmises conjectures and hypothesis. The Revenue...

Cash Deposits can be Accepted during Demonetization Period If Source is Explained: ITAT [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the cash deposits could be accepted during the demonetisation period if the source has been explained. The assessee R....

“Close Relatives” include Uncle and Aunt: ITAT deletes Addition for Cash Gift from Close Relatives during Emergency [Read Order]

The Income Tax Appellate Tribunal (ITAT) has recently deleted additions made for cash gifts from close relatives to meet the emergency situation and held that uncle and aunt are considered close...

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