Tag: addition u/s 69A
When assessee is given immunity from disclosing chicken, can’t be asked to disclose eggs – ITAT deleted addition u/s 69A In a recent judgment, ITAT quashed addition u/s 69A towards interest income on money declared under IDS-2016 observing that when the assessee is given immunity not to disclose …
Addition 69A deleted for cash deposit in bank during demonetisation period as the AO did not follow source specific general verification guidelines of CBDT. In a recent judgment, Hon’ble High Court of Chhattisgarh has deleted addition 69A for unexplained cash deposit in bank during demonetisation period as the …
There is no bar in holding cash after withdrawals for longer period before deposited into bank on subsequent dates – ITAT In a recent judgment, ITAT Visakhapatnam has deleted addition u/s 69A towards unexplained money holding that there is no bar in holding the cash after withdrawals for …
ITAT deleted addition for cash deposit on account of the statement given by the Prime Minister, press statement and CBDT SOP In a recent judgment, ITAT Chennai has held that addition u/s 69A cannot be sustained on account of the statement given by the Prime Minister, press statement …
No addition u/s 69A can be made for cash deposit in bank when the alleged bank accounts were duly recorded in the books of accounts of the assessee – ITAT In a recent judgment, ITAT Agra quashed addition made under section 69A for cash deposit in the bank …
Bank certificate stating that fixed deposits did not pertain to the assessee, despite PAN of assessee used, the onus casted upon the assessee stood discharged – ITAT In a recent judgment ITAT Mumbai deleted addition u/s 69A observing that once the bank issued a certificate stating that the …
Sales of two incomparable years cannot be compared. ITAT directed addition to be deleted after verification In a recent judgment, ITAT Delhi held that sales of two incomparable years cannot be compared to treat the increase in sale as unexplained money the basis that sales recorded by …
Cash withdrawn from the bank account cannot be considered as unexplained money when the turnover was not disputed – ITAT In a recent judgment, ITAT Jaipur deleted addition under section 69A holding that cash withdrawn from the bank account cannot be considered as unexplained money when the turnover …
Addition u/s 69A deleted as there was no difference in the quantity of jewellery found during search and jewellery declared in the wealth tax return. In a recent judgment, ITAT Hyderabad deleted addition u/s 69A as Assessing Officer (AO) made addition only on the basis of value of …
Source of cash deposit being savings and family support plausible to certain extent –ITAT deleted addition on account of cash deposit in bank. In a recent judgment, ITAT Visakhapatnam partly deleted addition for cash deposit in bank considering that the assessee’s submission regarding accumulation of savings and receipt …
