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

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ITAT Sets Aside Rs.22.39 Lakh Addition, Validates Senior Citizen's Demonetization Deposits [Read Order]

Adwaid M S

The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench ruled in favor of the assessee and set aside the addition of Rs.22.39 lakh made under...

CIT(A) Fails to Decide Co-operative Society’s Demonetization Cash Deposit Matter on Merits: ITAT...

Unexplained Cash Deposit of ₹22.78 Lakh u/s 69A: ITAT Deletes Addition due to Sufficient Evidence...

‘When Cash is Sourced out of Recorded Debtors, S. 69A cannot be invoked’: ITAT deletes Addition of...

ITAT Deletes Rs. 1 Crore Addition u/s 69A, Holds Bad Debt Recovery as Business Income [Read Order]

Continuous Absence of Assessee during Income Tax Appeal Proceedings: ITAT dismisses Appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has dismissed the appeal filed by Somnath Kelavni Mandal, a trust managing educational institution, due to non-prosecution and continuous...

Addition of ₹12 Lakh u/s 69A: ITAT holds Sundry Debtors do not Qualify as Unexplained Income [Read Order]

The Jaipur Bench of Income Tax Appellate Tribunal (ITAT) found that the addition of ₹12 Lakh under Section 69A of Income Tax Act,1961 was not justified, as the sundry debtors shown in the books did...

ITAT Deletes Rs. 29.82 Lakh Addition u/s 69A as Cash Deposits Duly Accounted in Books [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) deleted an addition of Rs. 29.82 lakh made under Section 69A of the Income Tax Act, 1961, and held that the cash deposits were duly...

Addition u/s 69A made by AO without Bringing any Concrete Evidence Incriminating the assessee not Sustainable: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) Mumbai deleted an addition of Rs. 2 crore made under Section 69A of the Income Tax Act, 1961, as the Assessing Officer (AO) made the...

Additions for Cash Deposits and Advances u/s 69A: ITAT Deletes Addition Based on Recorded Sales [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT)deleted the addition made under Section 69A of Income Tax Act,1961 for cash deposits and advances, holding that the amounts were sourced from...

Jurisdiction of PCIT not Invokable in absence of any Incorrectness and Incompleteness in Fact Appreciation by AO: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Jaipur bench while allowing the appeal has held that the jurisdiction of the Principle Commissioner of Income Tax (PCIT) is not invokable in absence of any...

ITAT Deletes ₹1.36Cr Addition as Travel Agent's Demonetization Deposits proved as Business Income [Read Order]

In a recent ruling, the Lucknow Bench of the Income Tax Appellate Tribunal ( ITAT ) overturned a tax demand related to ₹1.36 crores in cash deposits made during the demonetisation period by the...

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