![Purchase and Sale of Share through Registered Stock Broker carried out through Demat Account cannot be Declared as Unexplained Income u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Purchase-Sale-of-Share-Registered-Stock-Broker-Demat-Account-cannot-be-Declared-as-Unexplained-Income-Income-Tax-Act-ITAT-Unexplained-Income-Demat-Account-taxscan.jpg "Purchase and Sale of Share through Registered Stock Broker carried out through Demat Account cannot be Declared as Unexplained Income u/s 68 of Income Tax Act: ITAT [Read Order]")
Purchase and Sale of Share through Registered Stock Broker carried out through Demat Account cannot be Declared as Unexplained Income u/s 68 of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that AO was not justified in assessing the sale value of shares as unexplained cash...
![Obligation of Taxpayer is fulfilled when he establishes Identity, Credit Worthiness and Genuineness of Transaction concerning Unexplained Income u/s 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Obligation-of-Taxpayer-establishes-Identity-Credit-Worthiness-Genuineness-of-Transaction-concerning-Unexplained-Income-ITAT-TAXSCAN.jpg "Obligation of Taxpayer is fulfilled when he establishes Identity, Credit Worthiness and Genuineness of Transaction concerning Unexplained Income u/s 68: ITAT [Read Order]")
![ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Cash-Deposits-Taxable-Income-Absence-Evidence-Source-IT-Act-TAXSCAN.jpg "ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]")
![Deposit Made as a Reserve Amount for Business During Demonetization Period not amount to Unexplained Income: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Demonetization-Unexplained-Income-Deposit-Made-as-a-Reserve-Amount-for-Business-taxscan.jpg "Deposit Made as a Reserve Amount for Business During Demonetization Period not amount to Unexplained Income: ITAT Deletes Addition [Read Order]")
![Claim of Loss against Surrendered Business Income Rejected on Ground of Unexplained Income: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Claim-of-Loss-Business-Income-Rejected-Unexplained-Income-ITAT-Re-adjudication-TAXSCAN.jpg "Claim of Loss against Surrendered Business Income Rejected on Ground of Unexplained Income: ITAT Directs Re-adjudication [Read Order]")
ITAT confirms Addition of Unexplained Income for SBN Deposits during Demonetization Period in Absence of Legitimate Source [Read Order]
The Cuttack Bench of the Income Tax Appellate Tribunal (ITAT) recently confirmed the addition of unexplained income for SBN deposits during the demonetization period in the absence of legitimate...
![ITAT confirms Addition of Unexplained Income for SBN Deposits during Demonetization Period in Absence of Legitimate Source [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Unexplained-Income-SBN-Deposits-during-Demonetization-Absence-of-Legitimate-Source-taxscan.jpg "ITAT confirms Addition of Unexplained Income for SBN Deposits during Demonetization Period in Absence of Legitimate Source [Read Order]")
![Deletion of Unexplained Income without a Remand Report is Invalid: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Deletion-of-unexplained-income-unexplained-income-remand-report-ITAT-order-taxscan.jpg "Deletion of Unexplained Income without a Remand Report is Invalid: ITAT quashes Order [Read Order]")
Gujarat HC quashed the Addition of Unexplained Income without Detailed Enquiry: SC upholds the Order of ITAT and AO [Read Order]
The Supreme Court of India in its recent judgement upheld the order of the Income Tax Appellate Tribunal (ITAT) and Assessing Officer (AO) since the court found that Gujarat High Court quashed the...
![Gujarat HC quashed the Addition of Unexplained Income without Detailed Enquiry: SC upholds the Order of ITAT and AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Gujarat-HC-quashed-the-Addition-of-Unexplained-Income-Gujarat-High-Court-Addition-of-Unexplained-Income-without-Detailed-Enquiry-Addition-of-Unexplained-Income-Unexplained-Income-Taxscan.jpg "Gujarat HC quashed the Addition of Unexplained Income without Detailed Enquiry: SC upholds the Order of ITAT and AO [Read Order]")
Addition of Unexplained Income based on Information from SEBI not valid in Absence of Opportunity to produce Evidence: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition of Unexplained income based on information from SEBI is not valid in absence of an opportunity to produce...
![Addition of Unexplained Income based on Information from SEBI not valid in Absence of Opportunity to produce Evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Addition-of-Unexplained-Income-Unexplained-Income-SEBI-Absence-of-Opportunity-Evidence-ITAT-Income-Tax-Income-taxscan.jpg "Addition of Unexplained Income based on Information from SEBI not valid in Absence of Opportunity to produce Evidence: ITAT [Read Order]")
Income already Disclosed under Pradhan Mantri Garib Kalyan Yojana, 2016 can’t be treated as Unexplained Income: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Jaipur Bench held that income already disclosed under Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016 can not be treated as unexplained income under section...
![Income already Disclosed under Pradhan Mantri Garib Kalyan Yojana, 2016 can’t be treated as Unexplained Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-Pradhan-Mantri-Garib-Kalyan-Yojana-income-unexplained-income-Taxscan.jpg "Income already Disclosed under Pradhan Mantri Garib Kalyan Yojana, 2016 can’t be treated as Unexplained Income: ITAT [Read Order]")
Customary Practice of NRI Providing Cash to Parents not 'Suspicious': ITAT deletes Cash Deposit by NRI out of Savings of Family Members
The Income Tax Appellate Tribunal (ITAT), Chennai bench comprising Shri Mahavir Singh (Vice President) and Shri Manoj Kumar Aggarwal, (AM) has recently deleted an addition against a non-resident...
Amount Paid towards License Fee in the First Year of starting Business can’t be treated as Unexplained Income: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the amount paid towards license fee in the first year of commencement of business cannot be treated as unexplained income....
![Amount Paid towards License Fee in the First Year of starting Business can’t be treated as Unexplained Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/License-Fee-Taxscan-1.jpg "Amount Paid towards License Fee in the First Year of starting Business can’t be treated as Unexplained Income: ITAT [Read Order]")