Tag: unexplained credit
Change in explanation of assesseee due to change of council cannot be summarily brushed aside – ITAT In a recent judgment, the ITAT Raipur has held that the claim that explanation regarding the source of cash deposits in the assessee’s bank account as was advanced before the AO …
Presumption that donors have meagre source of income because they are agriculturists may not be appropriate – ITAT ABCAUS Case Law CitationABCAUS 3573 (2022) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in upholding the addition made by the CIT(A) …
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 …
If identity and genuineness of loan transactions proved addition on capacity ground can be made only in the hands of investor-ITAT follows SC The appellant assessee had preferred the instant appeal against the order of the CIT(A) in upholding the additions on account of unexplained loan u/s 68 …
Addition based on judicial precedence in other cases unsustainable without first addressing the factual inadequacy of assessee’s explanation – ITAT ABCAUS Case Law Citation: ABCAUS 2112 (2017) (11) ITAT The Challenge/Grievance: The appellant assessee had challenged the correctness of the order passed by CIT(A) confirming the additions …
Addition for Unexplained Investment u/s 69 quashed as Muslims religion bars Interest income therefore cash was kept at home INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW ITA No.697/LKW/2015 Assessment year:2010-11 Mehrun Nisha (Appellant) vs. Income Tax Officer (Respondent) Date of Order: 04-03-2016 ORDER PER A. K. GARODIA, A.M. This is …
