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Archive: 14 February 2025

Posts in 14 February 2025

Addition towards unexplained investment deleted as payment from NRI account proved

February 14, 2025 150 Views 0 comment Print

ITAT Rajkot held that addition on account of unexplained investment in purchase of immovable property u/s 69 of the Income Tax Act is liable to be deleted since assessee sufficiently proved that all the payments are made from wife’s NRI account.

Personal Hearing Required Before Adverse GST Order: AP HC

February 14, 2025 327 Views 0 comment Print

Andhra Pradesh High Court rules that a personal hearing must be granted before an adverse GST order, even if not requested, ensuring fair assessment under CGST Act.

Cash sourced out of recorded sales cannot be added again u/s. 69A: ITAT Chennai

February 14, 2025 189 Views 0 comment Print

ITAT Chennai held that when the cash is sourced out of recorded sales, the provisions of section 69A of the Income Tax Act could not be invoked since sales have already been offered to tax and taxing same again u/s. 69A would amount to double taxation.

Addition u/s. 69 towards unexplained investment deleted as source duly explained

February 14, 2025 324 Views 0 comment Print

ITAT Delhi held that the assessee has duly explained the source of his share of the investment made in the property purchased. Accordingly, addition towards unexplained investment under section 69 of the Income Tax Act is directed to be deleted.

Ex-Parte Order Set Aside: ITAT Remands Surrendered Income addition Case

February 14, 2025 144 Views 0 comment Print

ITAT Chandigarh sets aside ex-parte order against Karam Chand Sweets, remanding the case to CIT(A) for fresh hearing on merits. Assessee given one last chance.

Unexplained income addition sustained as genuineness of transaction not proved

February 14, 2025 78 Views 0 comment Print

ITAT Patna held that addition towards unexplained income upheld since assessee failed to prove genuineness of transaction and creditworthiness. Accordingly, appeal dismissed and addition upheld.

ITC Denial on Retrospectively Cancelled Registrations: Case Remanded for Re-adjudication

February 14, 2025 414 Views 0 comment Print

Calcutta High Court sets aside ITC denial due to retrospective GST registration cancellation and remands case for fresh adjudication.

Absence of Assessment Order: HC Allows Rectification Opportunity & Restores appeal for Denial of Hearing

February 14, 2025 159 Views 0 comment Print

Kerala High Court sets aside income tax orders against Kerala Minerals & Metals due to lack of opportunity for a hearing. Case remanded for fresh consideration.

AO doesn’t possess jurisdiction to tax any other income in reassessment order

February 14, 2025 174 Views 0 comment Print

ITAT Pune held that once primary reason to believe that income had escaped assessment fails then AO doesn’t possess jurisdiction to tax any other income in reassessment order. Hence, re-assessment is unsustainable and liable to be quashed.

ITAT Orders Reassessment of Post-Demonetization Cash Deposits

February 14, 2025 411 Views 0 comment Print

Bangalore ITAT remands case for reassessment of post-demonetization cash deposits by a bar & restaurant owner, directing AO to verify business income claims.

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