Tag: addition u/s 69A
When appeal is pending before CIT(A), revisionary jurisdiction u/s 263 can not be exercised – ITAT ABCAUS Case Law CitationABCAUS 3612 (2022) (09) ITAT Important Case Laws relied upon by parties Smt. Renuka Philip vs. ITO 409 ITR 567 (Mad)CIT vs. Vam Resorts and Hotels Pvt. Ltd. 418 …
ITAT admits additional evidences as assessee died before assessment proceedings and it could not be collected in time by legal heirs ABCAUS Case Law CitationABCAUS 3595 (2022) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in restricting the addition made …
AO not allowed to make addition in the hands of the housewives for cash deposit in bank during demonetization if less than 2.5 lakhs ABCAUS Case Law CitationABCAUS 3520 (2021) (07) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) National Faceless …
Addition u/s 69A for unexplained cash deposited in bank account of the assessee in excess of his yearly salary income deleted In the instant case, the assessee had challenged the order passed by the CIT(A) in upholding the addition made by the Assessing Officer (AO) towards the difference …
Earlier cash withdrawal can be explained as source for subsequent bank deposit of cash, provided there are no evidence to show that those withdrawals could not be available to as a source for subsequent deposits. ABCAUS Case Law CitationABCAUS 3471 (2021) (03) ITAT In the instant case, the …
Addition for jewellery found in search deleted as net weight found in search was lower than jewellery found during earlier search despite minor mismatch in items of jewellery. ABACUS Case Law CitationABCAUS 3376 (2020) (08) ITAT Important case law relied upon by the parties:Krishan Kumar Modi versus ACIT …
Addition as unexplained credit/Investment in case of money launderer / hawala operator. Supreme Court dismisses SLP against High Court order ABCAUS Case Law Citation:ABCAUS 3089 (2019) (07) SC The Income Tax Department had received information from the Enforcement Directorate (ED) that the appellant assessee had opened various bank …
ITAT reduced addition u/s 69A for cash deposits in bank by estimating the income assessee might have saved from the past incomes ABCAUS Case Law Citation:ABCAUS 2988 (2019) (06) ITAT The appeal was filed by the assessee HUF against the order of Commissioner of Income Tax (Appeals) in …
Peak credit addition does not include income after peak balance date. ITAT directed addition of further 8% profit after the date of peak value ABCAUS Case Law Citation: ABCAUS 2949 (2019) (05) ITAT The assessee was a partner in a firm. On the basis of the Annual Information …
Unrelated person unlikely to give false evidence to oblige the assessee, said ITAT deleting addition made for cash deposit on the strength of affidavit of lender. ABCAUS Case Law Citation: ABCAUS 2640 (2018) (11) ITAT Important Case Laws Cited/relied upon: Sonar Investment The appeal was filed by the …