Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the appli...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : Income without satisfactory explanation is taxed at a special high rate under Section 115BBE. The provisions place strict liabilit...
Income Tax : A doctrinal analysis of unexplained cash credits, investments, and expenditure under Sections 68–69D. Explains burden of proof a...
Income Tax : ITAT Mumbai deleted a Section 69 addition after finding documentary evidence established joint ownership, source of funds, and ear...
Income Tax : ITAT held that a registered sale deed without corroborative evidence is not incriminating material and cannot support additions in...
Income Tax : ITAT held that multiplying a seized figure without supporting evidence was unjustified and restricted the Section 69 addition to t...
Income Tax : The Tribunal ruled that proceedings initiated under the old Section 153C framework after the Finance Act, 2021 amendments were leg...
Income Tax : Tribunal held that omission to mention the exact charging provision did not vitiate the assessment where unexplained cash and bull...
It was held that sale consideration from trust property, when donated to charitable institutions, cannot be taxed as income. The ruling confirms protection for genuine charitable application of capital receipts.
Cash deposits arising from routine business collections cannot be wholly treated as unexplained income. The ruling confirms that estimations must reflect the nature of the taxpayer’s business.
The Tribunal held that reopening based only on generalized information about a scrip, without independent inquiry or linkage to the taxpayer, is invalid. Entire addition on alleged bogus LTCG was deleted.
The High Court held that an addition for unexplained investment cannot rest solely on an unsigned and unexecuted agreement. The key takeaway is that Section 69 requires concrete evidence of actual payment, not assumptions drawn from incomplete documents.
The issue was whether reassessment beyond three years was valid without approval from the correct authority. ITAT held the notice void as sanction was taken from the wrong officer, reaffirming strict compliance with Section 151.
The issue was whether cash and cheque payments could be taxed as unexplained investment in AY 2013–14. The Tribunal held that the major payments pertained to FY 2010–11 and could not be assessed in a later year.
The Tribunal examined whether a cash addition under section 69 could rest solely on an Excel sheet seized from a third party. It held the addition unsustainable due to lack of corroborative evidence and violation of natural justice.
The Tribunal held that additions for completed assessment years under section 153A are invalid when no incriminating material is found during search. Reliance on third-party documents and uncorroborated statements was held insufficient to sustain additions.
The Tribunal held that cash deposited in demonetised notes cannot be taxed under Section 69A when it represents recorded business sales. The key takeaway is that duly accounted turnover cannot be treated as unexplained merely due to demonetisation.
The ITAT held that additions based on survey material cannot be sustained without proper opportunity of hearing. The matter was remitted for fresh adjudication after finding violation of natural justice.
