Income Tax : Discover the implications of a significant Delhi ITAT ruling on cash sales pre-demonetization. Learn how it affects taxation and f...
Income Tax : Explore the impact of demonetization on cash deposits in India and the key legal insights from Section 69A vs. Section 44AD cases....
Fema / RBI : Public can continue to use ₹2000 banknotes for their transactions and also receive them in payment. However, they are encouraged...
Finance : Understand the implications of depositing the Rs. 2000 note in banks amid its withdrawal from circulation. Explore challenges, inc...
Income Tax : Explore the potential pitfalls and opportunities of the new income tax amnesty scheme. Learn how to convert black money into white...
CA, CS, CMA : SFIO, Ministry of Corporate Affairs, arrests CA Nalin Prabhat Panchal in Hyderabad for failure to honor summons related to Nityank...
Income Tax : No study on effect of withdrawal of legal tender character of the Specified Bank Notes (SBNs) on Indian economy has been published...
Income Tax : Demonetisation, inter alia, led to detection of black money, increase in tax collection and widening of tax base: Union MoS for Fi...
Fema / RBI : Value of counterfeit notes detected in banking system reduced from ₹43.47 crores in 2016-17 to ₹8.26 crores in 2021-22 since d...
Income Tax : An analysis of the search cases, conducted by Income Tax Department (ITD), involving cash seizures of more than Rs 5 crores in the...
Income Tax : Bibekananda Pradhan appeals against CIT(A)'s order; ITAT finds cash deposits during demonetization reasonable, deletes ₹16,80,00...
Income Tax : Arbuda Builders challenges addition for cash deposits during demonetization, arguing against assumptions of unexplained income. De...
Income Tax : ITAT Bangalore allows Vikas Co-operative's appeal, stating addition under Section 69A cannot be made solely on the basis of not ac...
Income Tax : ITAT Delhi directs the Assessing Officer to delete the addition made in the case of Puneet Utreja. The Tribunal ruled that the exp...
Income Tax : ITAT Jaipur upheld the deletion of Rs. 72 lakh addition, ruling that the assessee sufficiently explained the source of cash deposi...
Fema / RBI : RBI provides an update on the withdrawal status of ₹2000 banknotes, with 98% of notes returned by October 31, 2024....
Fema / RBI : RBI has extended deadline for withdrawal of ₹2000 banknotes to October 7, 2023. Learn about new guidelines and arrangements....
Fema / RBI : Reserve Bank of India's decision to withdraw ₹2000 banknotes has been highly effective, with 93% of these notes already returned...
Company Law : Introduction: In a significant move towards ensuring financial transparency and accountability, the Ministry of Corporate Affairs ...
Fema / RBI : Addressing circulating media reports, the Reserve Bank of India emphatically denies allegations of missing banknotes. The RBI stre...
RBI provides an update on the withdrawal status of ₹2000 banknotes, with 98% of notes returned by October 31, 2024.
Bibekananda Pradhan appeals against CIT(A)’s order; ITAT finds cash deposits during demonetization reasonable, deletes ₹16,80,000 addition.
Arbuda Builders challenges addition for cash deposits during demonetization, arguing against assumptions of unexplained income. Details on the ITAT Ahmedabad ruling.
ITAT Bangalore allows Vikas Co-operative’s appeal, stating addition under Section 69A cannot be made solely on the basis of not accepting demonetized currency.
ITAT Delhi directs the Assessing Officer to delete the addition made in the case of Puneet Utreja. The Tribunal ruled that the explanation on Term Deposit maturity and redemption was adequate.
ITAT Jaipur upheld the deletion of Rs. 72 lakh addition, ruling that the assessee sufficiently explained the source of cash deposits made during demonetization.
ITAT Chennai overturns addition of Rs. 28.57 Lacs for cash deposits by Gouthamchand Jain, ruling the source as valid and directing a reassessment.
ITAT Pune rules in favor of Ashok Ravsaheb Tambe, deleting addition of cash deposits during demonetization, explained as proceeds from a gold loan.
In the case of Anil Champalal Jain vs ITO (ITAT Mumbai), learn why Mumbai ITAT ruled that cash deposits during demonetization alone cannot justify income addition without clear evidence of accounting errors. Read the full text of the order for detailed insights.
In the case of Mewar Hospital Pvt. Ltd. Vs ACIT (ITAT Jodhpur), Bench ruled no addition for explained demonetization currency deposited in bank, validating proper accounting practices.
