ITAT Indore held that the peak credit theory should be adopted for determining income of assessee. Under this theory, only peak balance in bank account should be considered for taxation The… Read More

ITAT Indore held that addition u/s. 68 on account of bogus long term capital gains unsustainable as the alleged transaction is not found recorded in the books of accounts including the Dmat… Read More

ITAT Indore held that addition unsustainable as genuineness of the agricultural operations of the assesse and sales made by the assesse duly accepted. The post Addition unsustainable as genu… Read More

Shri Manish Kumar Girdhari Lal Lath Vs ACIT (ITAT Indore) 1. We find that the Information is reported by third party agencies to Income-tax Department and the possibility of wrong reporting… Read More

ITAT Indore held that addition on the standalone basis of statement of assessee u/s 132(4) of the Income Tax Act cannot be held as sustainable in absence of collaborative evidence found in s… Read More

ITAT Indore held that addition u/s 69 of the Income Tax Act towards gifts received from family members unsustainable as receiving gift from family members, namely father and mother for perso… Read More

Apex Realities Vs ITO (ITAT Indore) We find that during the course of survey, it was found that assessee had made the cash payment of Rs. 70,00,000/- to the land owners against the purchase… Read More

Shri Yogesh Jhingan Vs DCIT (Central) (ITAT Indore) Since the addition in the instant appeal crops out of the issue referred above pertaining to A.Y. 2008-09, we will have to examine the cor… Read More

Smt. Archana Agrawal Vs DCIT (ITAT Indore) During the course of search gold jewellery was found and seized from the residence and bank locker owned by the assessee. Gold jewellery weighing 2… Read More

Shri John Jacob Vs JCIT (ITAT Indore) Assessee had produced books of account and audited statements, which proved that the assessee had sufficient surplus in his capital account to give inte… Read More

Omprakash Gupta Vs ACIT (Central)- II (ITAT Indore) Conclusion: No addition could be made in case of concluded assessments and non abated assessments in absence of an incriminating material… Read More

CBDT cracks down on corruption, compulsorily retires 21 Group B ITO officers: Finance Ministry sources CBDT cracks down on corruption, comp… Read More