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...
AO had added ₹11,38,000/- towards the amount paid to a builder — ₹8,00,000/- by cheque & ₹3,38,000/- in cash — treating it as unexplained. CIT(A)/NFAC upheld the addition on the ground that Assessee failed to substantiate the source of payment.
ITAT Ahmedabad held that an addition under Section 69 based only on an untested third-party statement, without cross-examination, violates natural justice. The ₹60 lakh on-money allegation was deleted.
ITAT Ahmedabad upheld annulment of a ₹1.73 crore assessment, ruling that Section 148 notice was issued in name of a person who had died four years earlier. Tribunal affirmed that proceedings against a deceased person are a fatal jurisdictional defect and void ab initio.
ITAT Jaipur held that Rs. 8.9 lakh surrendered during a survey and included in books as business income cannot be taxed under section 69C or 115BBE of Income Tax Act.
The Tribunal held that the Assessing Officer rightly accepted excess stock and cash disclosed during survey as business income after enquiry. Section 115BBE was not applicable, and PCIT’s revision under Section 263 was invalid.
ITAT Chennai held that when sales are accepted and supported by records, entire purchases cannot be treated as bogus merely because suppliers were untraceable. Addition restricted to 12.5% as profit element.
The ITAT Rajkot significantly reduced an addition made under Section 69, ruling that in cases of alleged “on-money” payments found during a search, only the embedded profit component is taxable. Following the Gujarat High Court precedent, the Tribunal restricted the unexplained investment addition of Rs.1.25 lakh to just 30% (Rs.37,500).
Pune ITAT dismissed a firm’s appeal, confirming the PCIT’s order to tax Rs 19.44 lakh in unexplained cash and stock found in a survey under the stringent Section 115BBE.
The Pune ITAT allowed the assessee’s appeal, confirming that the alleged unexplained investment transaction occurred in the earlier financial year. The ruling emphasizes the Assessing Officer’s duty to verify the correct assessment year before invoking Section 69, as liability must attach to the right period.
ITAT Mumbai held that addition for providing accommodation entries of bogus LTCG under section 68 of the Income Tax Act is rightly deleted by CIT(A) since assessee has duly discharged the primary onus. Accordingly, appeal of revenue dismissed.
