Tag: addition u/s 69A
Income Tax Act provides complete machinery for assessment/reassessment of tax, assessee is not permitted to abandon that machinery and invoke jurisdiction of High Court under Article 226 ABCAUS Case Law Citation:ABCAUS 3790 (2023) (08) SC Important Case Laws relied upon:Gurinder Mohan Singh Nindrajog v. Commission of Income Tax, …
When there is no other/separate source of income identified during the course of survey or during the course of assessment proceedings, any income arising to the assessee shall be treated to be out of the normal business of the assessee only ABCAUS Case Law Citation:ABCAUS 3788 (2023) (08) …
Addition for cash payments made to builder for purchase of residential house – ITAT deletes addition for want of any clinching evidence ABCAUS Case Law Citation:ABCAUS 3787 (2023) (08) ITAT Important Case Laws relied upon:Dinesh Kumar Goyal vs. UOI & Others 453 ITR 535Laxmi Narain Agency vs. Income …
Explanation that jewellery was acquired out of agricultural income of Bigger HUF before its partition cannot be termed as not plausible – ITAT ABCAUS Case Law Citation:ABCAUS 3753 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition …
Assessee committed fraud by applying registration u/s 12AA without surrendering earlier PAN issued as firm in the very same name – High Court ABCAUS Case Law Citation:ABCAUS 3751 (2023) (05) HC The Petitioner assessee had challenged the assessment order passed making addition towards unexplained money u/s 69A of …
Bitumen not valuable article u/s 69A as it requires ownership in large quantity to treat it valuable – Supreme Court ABCAUS Case Law Citation:ABCAUS 3742 (2023) (05) SC Important Case Laws relied upon:Dhirajlal Haridas v. Commissioner of Income TaxCommissioner of Income Tax v. Amrit lal ChunilalKotak Mahindra Bank …
Delay in filing appeal condoned as assessee was not a tech savvy person and could not see notice sent to email mentioned in Form No. 35 ABCAUS Case Law Citation:ABCAUS 3730 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) …
Addition u/s 69A for cash gifts received on the occasion of marriage and deposited in bank deleted ABCAUS Case Law Citation:ABCAUS 3715 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the ational Faceless Appeal Centre (NFAC)/CIT(A) in confirming the addition u/s …
Assessee cannot be asked to explain the bank transactions of an unrelated party – ITAT deleted addition u/s 69A ABCAUS Case Law Citation:ABCAUS 3707 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition representing alleged unexplained gold …
NFAC passes copy paste order narrating wrong facts. ITAT deleted addition towards cash deposits u/s 69A ABCAUS Neutral Case Law Citation:ABCAUS 3696 (2023) (04) ITAT Important Case Laws relied upon by parties:Chuharmal Vs CIT (1988) 172 ITR 250Smt. Srilekha Banerjee and others vs CIT 1964 AIR 697Rajendran & …
