cash deposit in bank

  • Income Tax

A rural lady who was never a tax-payer unlikely to have unexplained money

The fact that assessee was a rural lady and never been in a tax-payer category in itself is sufficient that…

11 months ago
  • Income Tax

Addition for unexplained cash deleted as assessee regularly declared tuition income & paid tax

Addition for unexplained cash deleted as assessee consistently declared tuition income and paid tax over 20 -25 years ABCAUS Case…

11 months ago
  • Income Tax

NFAC passes copy paste order narrating wrong facts. ITAT deleted addition u/s 69A

NFAC passes copy paste order narrating wrong facts. ITAT deleted addition towards cash deposits u/s 69A ABCAUS Neutral Case Law…

1 year ago
  • Income Tax

Cash deposit on same day of sale deed has direct nexus between source of cash and sale – ITAT

Cash deposited on same day of sale deed execution has a prima facie direct nexus between source of cash deposit…

1 year ago
  • Income Tax

40% deduction for cash deposit in undisclosed bank account was very liberal says ITAT

40 percent deduction for cash deposit in undisclosed bank account was very liberal as no details/evidences of expenses submitted by…

1 year ago
  • Income Tax

Addition for cash deposit upheld for absence of cash flow statement/cash book

Addition for cash deposit upheld for absence of cash flow statement/cash book  ABCAUS Case Law CitationABCAUS 3633 (2023) (01) ITAT…

1 year ago
  • Income Tax

ITAT admits additional evidences as assessee died and legal heirs could not collect it in time  

ITAT admits additional evidences as assessee died before assessment proceedings and it could not be collected in time by legal…

2 years ago
  • Income Tax

Addition for cash deposit set aside as AO accepted turnover under presumptive taxation

Addition for cash deposit in bank set aside where AO accepted the turnover under presumptive taxation ABCAUS Case Law CitationABCAUS…

2 years ago
  • Income Tax

Reassessment invalid without serving notice personally/by affixture where notice returned

Reassessment proceedings without sending Inspector to serve notice personally or by affixture where notice served by speed post was returned…

2 years ago
  • Income Tax

No addition for cash deposit by housewives during demonetization if less than 2.5 lakhs

AO not allowed to make addition in the hands of the housewives for cash deposit in bank during demonetization if…

3 years ago