Tag: addition u/s 69A
Addition u/s 69A confirmed as alleged capital contribution by partners was deposited in bank account of assessee not in account of partnership firm In a recent judgment, Andhra Pradesh High Court confirmed addition under section 69A of Income Tax Act as the alleged capital contribution by the partners …
No addition can be made only on basis of Whatsapp Chats between director and employee of the company as apart from the Whatsapp Chat there was no evidence on record. In a recent judgment, ITAT Kolkata has deleted addition made only on the basis of Whatsapp Chats between …
Cash deposited in bank before giving unsecured loan. The addition if at all can be made u/s 69A in the hands of loan creditor and not u/s 68 in the hands of receiver. In a recent judgment, ITAT Raipur has held where loan creditor deposited cash just before …
Amount of Rs. 6 lakh claimed to have been received as gift from parents in law not an excessively or unreasonably high amount – ITAT In a recent judgment, ITAT Lucknow has held that amount of Rs. 6,00,000/- claimed by assessee to have been received as gift from …
Once investment amount reflected as payable and receivable in the books of accounts of both parties, no addition can be made towards unexplained money u/s 69A of the Act. In a recent judgment, ITAT Hyderabad deleted addition u/s 69A observing that once the investment amount is reflected in …
When the income determined as taxable is below exemption limit, provisions of section 115BBE can not be invoked. In a recent case, ITAT Lucknow deleted the addition made by the Assessing Officer (AO) by invoking provisions of section 115BBE of the Income Tax Act, 1961 (the Act) merely …
Documentary evidences filed on the day on which assessment order was passed are not additional evidence requiring compliance Rule 46A – ITAT In A recent judgment, ITAT Agra held that documentary evidences filed electronically on the day on which assessment order was passed are not additional evidence requiring …
Addition u/s 69A deleted as assessee was an employee authorized for replenishment of cash in ATM machines and bank wrongly associated his PAN In a recent judgment, ITAT Agra upheld deletion of addition u/s 69A as assessee was an employee authorized for replenishment of cash in ATM machines …
ITAT set aside addition and remands issue of difference of income with Form 26AS due to Percentage Completion Method followed by the assessee. In a recent judgment, ITAT Ahmedabad has set aside the addition and remanded issue of difference of income declared and as appearing in Form 26AS …
Addition u/s 69A for solely cash deposits in bank account deleted as it was covered by income declared u/s 44AD of the Act In a recent judgment, ITAT Rajkot held that AO erred in making addition under section 69A of the Income Tax Act, 1961 solely on the …
