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No Addition of LTCG can be made u/s 69A on Account of Alleged Unexplained Investment in Jewellery: ITAT [Read Order]

Shabna Rahim

The New Delhi bench of Income Tax Appellate Tribunal(ITAT) held that addition of long term capital gain can be made by the assessing officer under...

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...

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

ITAT deletes Additions on Unexplained Cash Deposit u/s 69A and 68 due to Proper Explanation by...

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...

No Evidence to prove Nature and Source of Property: ITAT upholds Income Addition u/s 69 A [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has upheld the addition under section 69 of the Income Tax Act,1961 in the absence of evidence to prove the nature and source of property. ...

Cash Gifts during Marriage is Customary in India: ITAT deletes Addition Including Demonetized Notes received as Marriage Gift [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has deleted an addition under section 69A of the Income Tax Act, 1961 where the assessee received cash including the demonetized...

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

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

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