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Unexplained Money

Bank Account Opened Fraudulently in Assessee’s Company, AO adds Rs. 15 cr as Protective Addition: ITAT Deletes Addition [Read Order]

Sneha Sukumaran Mullakkal

The Amritsar Bench of Income Tax Appellate Tribunal ( ITAT ) deletes ₹15 crore protective addition after finding that a bank account was...

Cash Deposits during Demonetisation: ITAT deletes Addition u/s 69A of Income Tax Act [Read Order]

Revenue Challenges ₹2.41 Crore Deletion by CIT(A): ITAT Confirms Stamp Paper Purchases for Customer...

AO added Rs.89,49,138 u/s 69A as unexplained money, Taxpayer submitted paper book explaining each...

Inadequate Decision by CIT(A) on Rs. 11.45 Lacs Unexplained Money Addition: ITAT Remits Matter [Read...

Rs.19 Lakh ‘Unexplained Money’ with Golgappa Vendor: ITAT Remands Income Tax matter Directing Opportunity for Personal Hearing [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chandigarh recently remanded an income tax matter while directing the provision of personal hearing opportunity to a golgappa vendor who landed in a soup,...

Old Loans Converted into Share Allotment Cannot be Unexplained Money: ITAT deletes Addition under Income Tax Act [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Unexplained money under the Income Tax Act, 1961 as the amount was the old loan converted into share allotment....

Provisions of sections 115BBE will not be applied on Surrendered Income which cannot be treated as unexplained money u/s 69A of Income Tax Act: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench, held that provisions of Section 115BBE would not be applied to surrendered income, which could not be treated as unexplained money under Section...

Acceptance of Demonetized Currency from 08.11.2016 Contrary to RBI Notification:ITAT Directs AO to Accept 50% Cash Deposits as Sale Proceeds received in Cash and Balance as Unexplained Money

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has directed the Assessing Officer (AO) to accept 50% of cash deposits as sale proceeds received in cash and balance as unexplained money as...

Assessment Order for Addition on account of unexplained money u/s 69A of Income Tax Act not followed by mandate DIN is invalid: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT), held that assessment order for addition under Section 69A of Income Tax Act,1961 as unexplained income, not followed by mandate document...

Failure to Furnish Material Evidence of Rs. 1 crore Gift Received on Marriage: ITAT sustains addition of Partial Amount as Unexplained Money [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) sustainedthe addition of partial amount of Rs. 1 crore as unexplained money under Section 69A of the Income Tax Act, 1961. The tribunal...

Re-adjudication of Income Tax Addition as Unexplained Money: ITAT Restores Delayed Application [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) restored the matter to the file of the Commissioner of Income Tax (Appeals) [CIT (A)] for proper adjudication on the addition of...