Income Tax : Overview of Income Tax Sections 69A, 69B, on unexplained income, investments, and expenditures. Key cases and interpretations incl...
Income Tax : The Sections by which the assessees are suffering too much due to high pitched assessments passed by NFAC are from 68 to 69D and 1...
Income Tax : Recent Chennai ITAT decisions address unexplained income, underreporting, and penalties under Sections 69A, 68, 270A, and 271. Key...
Corporate Law : Assessees face 78% tax and 6% penalty for unexplained investments or expenditures under Sections 69 to 69C of Income Tax Act if de...
Income Tax : Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key ...
Income Tax : ITAT Chennai held that when cash is sourced out of recorded debtors, provisions of section 69A of the Income Tax Act could not be ...
Income Tax : M/s. GRR Holdings is a firm was incorporated on 31.01.2014 with two partners Shri Gaddam Shyam Prasad Reddy & Shri Syed Fayaz Moha...
Income Tax : ITAT Lucknow held that addition by calculating sales on hypothetical basis and completely ignoring various evidences submitted dur...
Income Tax : ITAT Chennai held that addition under section 69A of the Income Tax Act towards unexplained money not legally sustainable since na...
Income Tax : ITAT Mumbai held that addition under section 69 towards unexplained cash made by the AO without bringing any concrete evidence on ...
ITAT Delhi sets aside search assessment in Amit Gupta & Sons HUF case, citing lack of proper approval under Section 153D of the Income Tax Act.
ITAT Jaipur remands EFY Technologies case to the Assessing Officer for fresh adjudication due to lack of reasonable opportunity during initial assessment.
ITAT Lucknow deletes ₹5.39 lakh addition u/s 69A, accepting assessee’s explanation for cash deposits during demonetization period. Bank certificate supports claim of ₹39,500 in old currency.
ITAT Panaji ruled in favor of Ganga Suresh Rathod, setting aside NFAC’s order after her video hearing request was denied, citing a breach of natural justice.
ITAT deletes the Rs.6 lakh addition made for unexplained cash found during a search, considering family savings and past declarations.
Addition against unexplained cash deposit of ₹49.50 lakh was remanded back to AO for verification if the deposits were from business activities, the addition under Section 69A could not stand.
ITAT Ahmedabad sets aside ex-parte NFAC order but imposes ₹10,000 cost on the assessee for failure to justify non-compliance in the appellate stage.
ITAT Pune remands an ex-parte order after considering the senior citizen assessee’s tech constraints, allowing fresh appeal proceedings with a fair hearing.
Rajasthan High Court quashes penalty proceedings under Section 271E of Income Tax Act citing lack of satisfaction recording in reassessment orders.
Addition made under Section 69A for an alleged unexplained cash loan was not justified as assessee provided evidence of receiving the loan through banking channels and not through cash.
