Income Tax : ITAT Mumbai held that an addition under Section 69A cannot be sustained when the assessee is denied the opportunity to cross-exami...
Income Tax : Income without satisfactory explanation is taxed at a special high rate under Section 115BBE. The provisions place strict liabilit...
Income Tax : Explains the centralization of digital platforms, surveillance powers, and opaque governance. Key takeaway: citizens have limited ...
Income Tax : Detailed overview of penalties under various sections of the Income Tax Act, covering defaults in tax payment, reporting, document...
Income Tax : An overview of Sections 68-69D of India's Income-tax Act, which empower tax authorities to assess unaccounted income from unexplai...
Corporate Law : Details on Indian government's blocking of YouTube channels, citing IT Rules 2021 and Section 69A of IT Act 2000. Learn about reas...
Income Tax : ITAT Indore held that appellate order violated principles of natural justice after finding that key hearing notices were sent to a...
Income Tax : ITAT Rajkot held that cash deposits made during demonetization were fully supported by audited books of account, cash books, and b...
Income Tax : ITAT Hyderabad held that addition of Rs. 13 lakh under Section 69A through rectification proceedings exceeded the scope of Section...
Income Tax : The Tribunal held that the reassessment notice issued on 26.07.2022 was beyond the permissible timeline under the surviving limita...
Income Tax : Tribunal dismissed a Revenue appeal after finding that additions were made solely on basis of entries in a seized Excel file. It h...
The Tribunal held that additions under Section 153C cannot be sustained when based on unverified third-party statements and documents. It found the evidence lacked credibility and was not corroborated. The ruling highlights strict evidentiary standards in search-based assessments.
ITAT Hyderabad holds that Section 249(4)(b) cannot bar appeal where no income is admitted and no advance tax is payable; sets aside dismissal and directs AO to treat demonetisation cash deposits as business turnover (if normal) and estimate income u/s 44AD instead of Section 69A addition.
The Tribunal deleted the addition under Section 69A since the evidence pertained to a partnership firm. It held that without proof of personal receipt, income cannot be taxed in the partner’s hands.
The issue was whether reassessment beyond three years is valid for small additions. ITAT held that without meeting the ₹50 lakh threshold under Section 149, the notice is void.
The tribunal held that cash deposits cannot be treated as unexplained when sufficient recorded cash receipts exist. Once books support availability, Section 68 additions fail.
ITAT Mumbai deletes ₹27.40 lakh addition under Section 69A, holding cash deposits as genuine business advances for car bookings, duly supported by confirmations, PAN, and invoices; non-response of customers cannot justify addition without proper verification.
ITAT Hyderabad quashes reassessment as Section 148 notice, though dated 31.03.2021, was actually issued on 01.04.2021; failure to follow mandatory Section 148A procedure and obtain proper approval rendered proceedings invalid.
ITAT Hyderabad deletes Section 69A additions in alleged penny stock case, holding that documented share transactions cannot be treated as bogus based on suspicion or general investigation reports without specific evidence against the assessee.
The issue involved additions based on mismatch between property registration and payment dates. The Tribunal held that delayed encashment of cheques does not indicate unexplained investment. It concluded that the additions lacked factual basis and directed deletion.
The Tribunal held that the addition of ₹8.44 crore was unsustainable as it was based on incorrect assumptions about multiple bank accounts. It ruled that properly recorded and explained transactions cannot be treated as unexplained income under Section 69A.
