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

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ITAT estimates Cheque Discounter’s Taxable Income at 10% of Cash and Other Credit due to Possible Revenue Leakage [Read Order]

In a notable ruling, the Surat Bench of the Income Tax Appellate Tribunal (ITAT) proceeded to estimate the taxable income of a cheque discounter at...

All bank transactions and Credit Entries not Taxable if amounts immediately Debited by Clearance:...

Lack of evidence and improper enquiry: ITAT Remands Case to AO for Fresh Examination [Read Order]

ITAT Intervenes: Orders CIT(A) to Admit Appeal, Citing 'Good and Sufficient Reasons' [Read Order]

ITAT upholds Addition of Rs. 70.95 Lakh u/s 69A due to Assessee's Non-Compliance [Read Order]

ITAT quashes Penalty under Section 271(1)(c), Directs AO to reconsider Quantum Addition [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal ( ITAT ) Agra Bench has set aside the penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961, and directed the Assessing...

Notices sent to Inactive Email ID: ITAT directs fresh hearing on Unexplained Demonetization Cash Deposits matter [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) directed a fresh hearing in a case involving unexplained cash deposits during the demonetization period citing assessing officer (AO)...

Income Tax Annual Digest 2024: ITAT Cases [Part 29]

This annual round-up analytically summarizes all the Income Tax related Orders of the Income Tax Appellate Tribunal (ITAT) Benches of India reported at Taxscan.in during 2024. ITAT orders...

Rs. 1.19 Crore Unexplained Cash Deposits Dispute: ITAT allows Cash Flow Statement as New Evidence and directs Reassessment [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the assessee to submit a new cash flow statement as evidence and directed the Assessing Officer ( AO ) to reassess the matter...

ITAT Slashes Addition, Allows Partial Relief to Assessee on Cash Deposit during Demonetization [Read Order]

In a significant ruling, the Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) granted partial relief by reducing the addition made under Section 69A of the Income Tax Act, 1961. The appeal...

ITAT - ITAT Slashes Addition - Partial Relief - Assessee on Cash Deposit - Cash Deposit - Demonetization - taxscan

AO adds Rs. 24 lakhs u/s 69A Income Tax Act: ITAT confirms Agriculture Income, reduces addition to Rs. 2 lakhs to prevent Revenue Loss [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that the income obtained from agriculture and reduced additions made by the Assessing officer to 2 Lakhs in order to prevent revenue...

AO added Rs.89,49,138 u/s 69A as unexplained money, Taxpayer submitted paper book explaining each entries: ITAT Remands Matter for Reconsideration [Read Order]

The Ranchi Bench of Income Tax Appellate Tribunal (ITAT) remanded the addition of Rs. 89,49,138 under section 69A of the Income Tax Act matter back to the Commissioner of Income Tax (Appeals)...

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