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Section 69C

Latest Articles


Analysis of Undisclosed Incomes under Sections 68 to 69D of Income Tax Act, 1961

Income Tax : A Comprehensive Analysis of Undisclosed Incomes under Sections 68 to 69D of the Income-tax Act, 1961, Taxation of these Incomes Un...

June 20, 2025 3 Views 0 comment Print

Unaccounted deposits treated as Liabilities, and not income?

Income Tax : ITAT Chennai rules unaccounted customer deposits, with traceable identities and commercial substance, are liabilities, not income ...

April 12, 2025 831 Views 0 comment Print

Unexplained Income and Investments: Sections 69A and 69B

Income Tax : Overview of Income Tax Sections 69A, 69B, on unexplained income, investments, and expenditures. Key cases and interpretations incl...

March 2, 2025 2205 Views 0 comment Print

 Section 68 to 69D and 115BBE: Remove these draconian sections from statute

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...

January 24, 2025 7809 Views 3 comments Print

78% Tax Plus 6% Penalty for Unexplained Investments

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...

September 18, 2024 6099 Views 0 comment Print


Latest Judiciary


No Evidence of Cash Received Back for Purchases: HC Dismisses Revenue Appeal

Income Tax : In the matter abovementioned Delhi HC dismissed appeal filed by revenue after observing that there is no allegation or finding tha...

June 3, 2025 495 Views 0 comment Print

Survey Income Linked to Business Not Taxable at Higher Section 115BBE Rates

Income Tax : ITAT Pune ruled for Yash Construction Co., holding that declared income during survey, if linked to business, cannot be taxed at h...

June 2, 2025 537 Views 0 comment Print

ITAT Chandigarh Quashes Addition by Gross Profit Rate as Purchases Proven Genuine

Income Tax : ITAT Chandigarh held that addition by applying gross profit rate on alleged bogus purchases not justified since it was proved that...

June 2, 2025 261 Views 0 comment Print

ITAT Pune ruling on non applicability of Section 68/69 for Business Income

Income Tax : The ITAT Pune ruled that additional income declared during a survey at Patel Shoes Co., consisting of excess stock, cash, and furn...

May 30, 2025 963 Views 0 comment Print

Section 69A Addition Based on Unverified Third-Party Statement Deleted

Income Tax : ITAT Mumbai held that addition under section 69A of the Income Tax Act on the basis of a third party statement without bringing an...

May 17, 2025 264 Views 0 comment Print


Latest Posts in Section 69C

Analysis of Undisclosed Incomes under Sections 68 to 69D of Income Tax Act, 1961

June 20, 2025 3 Views 0 comment Print

A Comprehensive Analysis of Undisclosed Incomes under Sections 68 to 69D of the Income-tax Act, 1961, Taxation of these Incomes Under Section 115BBE and Penalty Provisions under Sections 271AAC & 271AAD With Insights on Explained vs. Unexplained Income, Judicial Precedents & Finance Act, 2025 Amendments 1. Introduction & Legal Context. The robust and equitable functioning […]

No Evidence of Cash Received Back for Purchases: HC Dismisses Revenue Appeal

June 3, 2025 495 Views 0 comment Print

In the matter abovementioned Delhi HC dismissed appeal filed by revenue after observing that there is no allegation or finding that cash had been received back by the assessee in respect of the purchases reflected in its books of account.

Survey Income Linked to Business Not Taxable at Higher Section 115BBE Rates

June 2, 2025 537 Views 0 comment Print

ITAT Pune ruled for Yash Construction Co., holding that declared income during survey, if linked to business, cannot be taxed at higher rates under Section 115BBE.

ITAT Chandigarh Quashes Addition by Gross Profit Rate as Purchases Proven Genuine

June 2, 2025 261 Views 0 comment Print

ITAT Chandigarh held that addition by applying gross profit rate on alleged bogus purchases not justified since it was proved that alleged purchases were made at par and were not under-valued or inflated. Thus, appeal of assessee allowed.

ITAT Pune ruling on non applicability of Section 68/69 for Business Income

May 30, 2025 963 Views 0 comment Print

The ITAT Pune ruled that additional income declared during a survey at Patel Shoes Co., consisting of excess stock, cash, and furniture expenditure, is business income, not unexplained income under Sections 69/69C, overriding an initial misclassification.

Section 69A Addition Based on Unverified Third-Party Statement Deleted

May 17, 2025 264 Views 0 comment Print

ITAT Mumbai held that addition under section 69A of the Income Tax Act on the basis of a third party statement without bringing any corroborative material is liable to be deleted. Accordingly, addition deleted and appeal of assessee allowed.

Reassessment Additions: ITAT dismisses Appeal as Assessee Opt for Vivad Se Vishwas

May 14, 2025 102 Views 0 comment Print

ITAT Lucknow dismisses appeal by Raghav Agarwal (HUF) challenging reassessment and additions following settlement under Vivad se Vishwas Scheme.

ITAT Orders Re-Assessment of Demonetisation Period Additions

May 13, 2025 192 Views 0 comment Print

ITAT Ahmedabad sets aside CIT(A) order, sending back case of Tosifbhai Tajdin Halani to AO for fresh assessment on unexplained cash, gifts, and expenditure.

Weighted deduction u/s. 35(1)(ii) disallowed as institution didn’t had valid registration

May 12, 2025 156 Views 0 comment Print

ITAT Ahmedabad held that weighted deduction under section 35(1)(ii) of the Income Tax Act rightly disallowed as donation is given to Arvindo Institute of Applied Scientific Research Trust who doesn’t have valid registration. Accordingly, appeal of assessee dismissed.

Non-response to summons by 3rd party cannot be reason for addition towards bogus purchase

May 8, 2025 3507 Views 0 comment Print

ITAT Delhi held that addition under section 69C of the Income Tax Act towards bogus purchases cannot be sustained merely for failure on the part of 3rd party in not responding to the summons. Addition set aside since genuineness of transaction proved.

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