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

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Reopening Assessment for Cash Deposits valid if failed to substantiate with evidence: Delhi HC allows to submit details of Unexplained Cash deposits before Appellate Authority

Taxscan Team

While considering a writ petition the Delhi High Court observed that reopening assessment for cash deposits is valid if failed to substantiate with...

ITAT Weekly Round-Up

Cash available out of Past Savings justifiable as Source of Unexplained Money u/s 69A: ITAT [Read...

Deposit of Demonetized Currency proved with the Bank Statement, Addition u/s 69A not sustainable:...

Income Tax Appeal Filed after Moratorium Period as per IBC is not Maintainable: ITAT [Read Order]

Confiscation of Smuggled Silver not allowable as 'Business Loss': Supreme Court [Read Judgement]

In a recent judgement, the Supreme Court of India held that confiscation of smuggled silver is not allowable as a’ business loss'. A search was conducted by the Directorate of Revenue Intelligence...

Smuggled Silver - Business Loss - Supreme Court - Confiscation of Smuggled Silver - Taxscan

No Addition can be made Against Individual for Cash Deposit of Tuition Fee received from Students during Demonetization Period: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, has deleted an addition under section 69A of the Income Tax Act, 1961 in respect of cash deposit during demonetization period holding that the...

Re-Deposit of Cash during Demonetization for House Renovation and Marriage of Son is “Normal Conduct of an Ordinary Man”: ITAT deletes Addition [Read Order]

While deleting an addition under section 69A of the Income Tax Act, 1961, the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the re-deposit of cash after the declaration of the...

Failure to Prove Genuineness of Heavy Denomination Cash Gifts: ITAT Upholds Addition u/s 69A

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on account of the appellant’s failure to prove the genuineness of heavy denomination cash gifts,...

Cash Gift from Brother and Sister during Medical Emergencies cannot be treated as 'Unexplained': ITAT deletes Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has, while deleting an addition under section 69A of the Income Tax Act, 1961 has held that the cash gift from brother and sister cannot be...

Past Savings kept in Locker not Unexplained Investment If Source is Explained: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Indore bench has held that the past savings kept in the bank locker cannot be treated as Unexplained Investment merely for the reason that the amount was not...

Jewellery received by a Lady during the Span of 20 years of Marriage can’t be treated as Unexplained: ITAT [Read Order]

In a recent ruling in Suneela Soni vs Deputy Commissioner of Income Tax, Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that jewellery received by a lady during the span of 20 years...

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