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...
Assessee had strongly contended that he was unaware of who Shri Kaustubh Latke and Shri Shailesh Patil are, since they were not connected with him or Rucha Group.
ITAT Rajkot held that addition towards unexplained cash deposit under section 69A of the Income Tax Act not sustained since assessee has adequate evidence supporting its claim of cash deposits. Accordingly, appeal allowed.
Held that the invoices issued by the assessee contained a barcode. A barcode on a tax invoice serves as a verification mechanism, ensuring that the sale is recorded in the system and adds a layer of authenticity.
It was held that in the original assessment under Section 143(1), the issue related to the deed of purchase of land was not looked into as the same was not reported in the assessee’s income before the Revenue.
ITAT Cochin remands case after CIT(A) dismisses appeal without considering additional evidence under Rule 46A in an unexplained money addition dispute.
ITAT Cochin remanded Baiju Kabeer’s case to CIT(A) for reassessment, citing lack of opportunity to explain cash deposits. Review the details of the judgment here.
ITAT Ahmedabad dismisses Somnath Kelavni Mandal’s income tax appeal due to continuous absence in proceedings. Case pertains to unexplained cash deposits under Section 69A.
ITAT Chennai deletes additions under Section 69A for cash deposits made during demonetization by P. Tamilmani. Case highlights proper accounting and unjustified suspicions.
Additional income offered by assessee on account of cash and excess stock is liable to be taxed as business income and not unexplained investment under section 69A at special rates of 115BBE.
ITAT Chennai rules bad debt recovery as business income, deleting Rs. 1 crore addition under Section 69A. Read full details on the tribunal’s decision.
