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

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ITAT Overturns CIT(A) Order, Restores Gas Agency’s Appeal Over Rs. 10.42 Lakh Demonetization Cash Deposits [Read Order]

Adwaid M S

The Income Tax Appellate Tribunal ( ITAT ), Pune Bench, has set aside an order by the Commissioner of Income Tax (Appeals) CIT(A) and restored the...

ITAT Grants Final Opportunity Citing Demonetization Hardships, Remands Rs. 69A Addition Case Back to...

Cash Deposits Duly Recorded in Books Cannot Be Taxed as Unexplained Money Without Rejecting...

ITAT Quashes ₹84 Lakh Addition Made u/s 69A, accepts Assessee’s Explanation on Cheque Discounting...

Additions u/s 69A Set Aside: ITAT Directs Fresh Assessment Allowing Taxpayer to File Additional...

ITAT Allows Appeal in Demonetization-Era Case, Finds CIT(A) Order Deficient in Reasoning [Read Order]

The Income Tax Appellate Tribunal (ITAT) Pune Bench has allowed an appeal filed by Jyoti Santosh Parakh Swaraj Cement Distributors, setting aside an order by the Commissioner of Income Tax (Appeals)...

Cash Deposits Were Duly Recorded in NBFC’s Books: ITAT Deletes Rs. 14.84 Lakh Addition [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs. 14.84 lakhs made under Section 69A of the Income Tax Act, 1961, on the grounds that the cash deposits in...

AO Relied on Bank Account Not Admitted by Taxpayer: ITAT Quashes Rs. 4 Crore Addition [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) quashed an addition of over Rs. 4 crore after observing that the Assessing Officer (AO) had relied on a bank account which was not...

ITAT Admits Additional Evidence, Remands Rs. 17 Lakh Unsecured Loan Case to AO for Fresh Assessment [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT), set aside an appeal order and remanded the case back to the Assessing Officer (AO) for fresh assessment, admitting additional...

Unexplained Cash Deposits: ITAT Reduces ₹72 Lakh Addition to ₹2 Lakh on Verifying Home Loan Credits and ITRs [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) reduced the addition made under Section 69A of the Income Tax Act, 1961, from Rs. 72,81,674 to Rs. 2,00,000 by considering the assessee's...

Cash Deposit during Demonetization: ITAT partly deletes Rs. 3.5 lakh Addition based on CBDT Guidelines [Read Order]

The Raipur Bench of the Income Tax Appellate Tribunal (ITAT) has partly deleted an addition of Rs. 11,00,000 made on account of cash deposits during the demonetization period, holding that Rs. 3.5...

Loose Papers, Scribbled Notes, and Unregistered Agreements cannot be sole basis for Taxing Income: ITAT [Read Order]

The Nagpur Bench of the Income Tax Appellate Tribunal (ITAT) ruled that additions to income based solely on loose sheets, handwritten notations, or unregistered agreements are not sustainable under...

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