![Retd IAS officer’s Demonetization Cash Deposit Addition of ₹23.33 Lakh Cut to 50%: ITAT applies 30% Tax u/s 115BBE [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078053-retd-ias-demonetization-cash-deposit-itat-applies-tax-us-115bbe-taxscan.webp "Retd IAS officer’s Demonetization Cash Deposit Addition of ₹23.33 Lakh Cut to 50%: ITAT applies 30% Tax u/s 115BBE [Read Order]")
Retd IAS officer’s Demonetization Cash Deposit Addition of ₹23.33 Lakh Cut to 50%: ITAT applies 30% Tax u/s 115BBE [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) has allowed the appeal by the assessee by restricting the addition of demonetization...
![ITAT Weekly Round Up [August 10th - August 16th]](https://images.taxscan.in/h-upload/2025/08/16/250x150_2077449-itat-weekly-round-up-taxscan.webp "ITAT Weekly Round Up [August 10th - August 16th]")
![Circular Transactions could be added Substantively Only Once: ITAT quashes Income Tax Demand [Read Order]](https://images.taxscan.in/h-upload/2025/07/14/250x150_2063787-itat-chennai-income-tax-demand-circular-transactions-taxscan.webp "Circular Transactions could be added Substantively Only Once: ITAT quashes Income Tax Demand [Read Order]")
![lTAT Deletes Addition of Rs. 16,80,000 for SBN Deposits from Liquor Sales, Citing Exceptional Circumstances [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/lTAT-SBN-Deposits-from-Liquor-Sales-Citing-Exceptional-Circumstances-TAXSCAN.jpg "lTAT Deletes Addition of Rs. 16,80,000 for SBN Deposits from Liquor Sales, Citing Exceptional Circumstances [Read Order]")
![Source for Deposits made in Demonetisation Period Substantiated: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-tax-Demonetisation-deposits-Section-68-of-income-tax-act-taxscan.jpg "Source for Deposits made in Demonetisation Period Substantiated: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]")
Receipts that constitute business receipts cannot be held as unaccounted money of the assessee: ITAT directs re-computation [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that receipts constitute business receipts and nothing else and therefore, the same could not be held to be unaccounted money of the...
![Receipts that constitute business receipts cannot be held as unaccounted money of the assessee: ITAT directs re-computation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Receipts-Receipts-that-constitute-business-receipts-business-receipts-unaccounted-money-of-the-assessee-unaccounted-money-ITAT-directs-re-computation-ITAT-taxscan.jpg "Receipts that constitute business receipts cannot be held as unaccounted money of the assessee: ITAT directs re-computation [Read Order]")
Records maintained for sales carried out by assessee prevents credit to be held as unexplained cash U/S 68: ITAT deletes Addition [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that the credit could not be held to be unexplained cash credit and the impugned additions are not sustainable in law. The...
![Records maintained for sales carried out by assessee prevents credit to be held as unexplained cash U/S 68: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Records-sales-assessee-credit-ITAT-deletes-addition-addition-taxscan.jpg "Records maintained for sales carried out by assessee prevents credit to be held as unexplained cash U/S 68: ITAT deletes Addition [Read Order]")
President Promulgates Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 [Read Ordinance]
The President of India has approved the promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 today i.e. on 30th December, 2016. The Ordinance is a follow-up to the...
![President Promulgates Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 [Read Ordinance]](https://www.taxscan.in/wp-content/uploads/2016/12/Specified-Bank-Notes-Ordinance-TaxScan.jpg "President Promulgates Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 [Read Ordinance]")