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Unexplained Cash

Pattern Transactions Categorise ₹1.77 Cr Unsecured Loan as Unexplained Cash Credit: ITAT upholds Addition u/s 68 [Read Order]

Advika Dwivedi

The bench of the Income Tax Appellate Tribunal, Ahmedabad, has upheld the addition of ₹1,77,24,909/- towards unexplained cash credits under Section...

Rs. 3.5 Lakh Gift from Daughter Treated as Unexplained Cash by AO: ITAT Deletes Addition, Accepts...

CBDT Recommends Tax Authorities Given Aadhaar Access, Stricter Powers to Demolish Benami Property...

ITAT Quashes Part of Income Tax Addition u/s 69A on Cash Deposits During Demonetization Based on...

Bogus Accommodation Entries for Purchases: ITAT Restricts Unexplained Credit Addition to ₹12.50 Lakh...

Demonetized Notes Received from Disclosed Debtors Cannot Be Treated as Unexplained Cash: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that cash deposits in Specified Bank Notes (SBNs) received from disclosed debtors during the demonetization period cannot be treated...

Unexplained Cash Deposit during Demonetization: ITAT directs Assessee to Establish Genuineness [Read Order]

In a ruling recently, the Income Tax Appellate Tribunal ( ITAT ) of Bangalore, directed an individual assessee to substantiate the genuineness of a large cash deposit made during the 2016...

Availability of cash with different companies is sufficient to explain cash found at time of search: ITAT [Read Order]

The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) observed that availability of cash with different companies is sufficient to explain cash found at time of search. The issue to be...

Income from Unexplained cash u/s 68 of Income Tax Act can't be claimed as an Exemption: ITAT dismisses Appeal [Read Order]

The Kolkata bench of Income Tax Appellate Tribunal (ITAT) held that Income received from the unexplained cash under Section 68 of the Income Tax, 1961 Act can’t be claimed as an exemption under...

No Due Verification of Records by AO: ITAT allows deletion of Addition on Unexplained Cash Deposits [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT), allowed deletion of addition on unexplained cash deposits as there was no due verification of records by Assessing Officer (AO). On...

Addition of Unexplained Cash based on Single Document is not permissible: Delhi HC upholds ITAT Order [Read Order]

The Delhi High Court has held that the addition of unexplained cash based on a single document is not permissible. The Revenue challenged the order dated 05th October 2018 passed by Income Tax...

Addition of Unexplained Cash based on Third-Party Statements without Opportunity for Cross-Examination is not sustainable: ITAT [Read Order]

While considering a bunch of appeals the Lucknow bench of the Income Tax Appellate Tribunal (ITAT) held that the addition of unexplained cash based on third-party statements without allowing...