ITAT Ahmedabad rules no tax on cash deposits from relatives if affidavits provided. Sakina Ahmedali Kantavala vs ITO case highlights proper affidavit usage in tax assessments. The post Cash… Read More

ITAT Chennai's order regarding the transfer from current to deposit account as non-income, and deletion of addition. Full text of the order provided. The post No Income arises due to Transfe… Read More

Read the detailed analysis of Vivek Prahladbhai Patel vs ITO case where ITAT Ahmedabad deletes cash deposit addition under section 69A of Income Tax Act 1961. The post ITAT deletes Addition… Read More

ITAT Chennai rules that recoveries of farmers' advances reflected in cash books are not unexplained cash credits under Section 68 of the Income Tax Act. The post No addition for cash deposit… Read More

ITAT Chennai deletes Rs. 16.8 lakhs addition, finding no evidence to prove properties sold by taxpayer were agricultural land in D. Ramagopal Vs ACIT case. The post ITAT deletes addition for… Read More

Discover why ITAT Jodhpur ruled that cash deposits made by a 77-year-old assesse during demonetization couldn't be added under section 68 of the Income Tax Act. The post ITAT deletes additio… Read More

ITAT Hyderabad grants partial relief to agriculturist in cash deposit case during demonetization, citing agricultural income sources. Addition reduced to Rs. 2 lakhs. The post Addition for C… Read More

Understand the verdict of Vishakhapatnam ITAT on unexplained cash deposits. Detailed analysis on taxpayer's explanation, legal provisions, and conclusions. The post Cash deposits during demo… Read More

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

Appeal against order of any authority can be filed by the party aggrieved by the order, i.e., the Assessee or the Department. Filing of appeal involves lots of cost and effort and also takes… Read More

In the case of Aashish Luthra vs. ITO, ITAT Mumbai deletes cash deposit addition after establishing the source as property sale advance received by the father. The post ITAT Deletes Cash Dep… Read More

Dive into the case of Pravinbhai Mumabhai Bharwad vs ITO as ITAT Ahmedabad annuls addition under section 69A, highlighting oversight of cash deposit proofs by AO and CIT(A). The post ITAT de… Read More

In the landmark Mudhol Pattina Sahakari Sangh Niyamita vs. ACIT case, ITAT Bangalore held additions under Section 68 need examination of cash deposit source. The post Section 68: Source of C… Read More

ITAT Delhi deletes addition under section 69A of Income Tax Act in Viren Bakhru vs. ACIT case. Assessee's explanation of cash deposit during demonetization accepted. The post No Addition u/s… Read More

Nayagi Fireworks Ltd. vs. ACIT case, where cash deposits of Rs. 99.50 Lacs were disputed and ITAT provides an opportunity to substantiate source. The post Cash Deposit Addition: ITAT provide… Read More

Chander Lekha Vashishtha Vs ITO (ITAT Delhi) Background: The appellant, a senior citizen lady aged 67 years, filed her return of income for the assessment year 2017-18. The Assessing Officer… Read More

ITAT Chennai upholds income tax addition due to failure in explaining the source of a significant cash deposit in a bank account. Learn more in this analysis. The post ITAT Upholds Income Ta… Read More

ITAT Ahmedabad held that addition under section 68 of the Income Tax Act towards unexplained cash credit unjustified as source of cash deposit on account of sale of petrol, diesel and other… Read More

In a case involving Smt. Madhuvalli Lakamraju vs. ADIT, ITAT Hyderabad deletes the addition under section 68 of the Income Tax Act due to lack of source for cash deposits. The post ITAT Hyde… Read More

ITAT Chennai held that provisions of section 115BBE not invocable in case of addition u/s. 69A towards unexplained money as assessee is having only one source of income from business and cla… Read More

Analysis of ITAT Delhi's decision in Sheo Chand Yadav vs ITO, where the tribunal deleted the income tax addition related to cash deposits during demonetization. The post Cash Deposit during… Read More

An in-depth analysis of the Pitchi Reddy Garlapati Vs ITO (ITAT Hyderabad) case, focusing on the addition for a generous cash gift to a grandson by his maternal grandfather. The post Additio… Read More

Review of ITAT Mumbai's ruling in Kamlesh Vasant Nerkar Vs CIT, emphasizing the need for AO to recognize income that has been adequately explained by the taxpayer. The post ITAT deletes addi… Read More

ITAT Mumbai held that cash sales accepted and then deposit of said cash in bank account cannot be treated as deposits made out of any undisclosed income. Accordingly, addition under section… Read More

ITAT Chennai held that addition towards unexplained money under section 69A of the Income Tax Act sustained as cash deposited during demonetization period cannot be said to be cash gifts rec… Read More

ITAT Delhi held that addition of interest free security deposit sustained as the same is not refunded to the Developer even after lapse of more than seven years by merely stating that the De… Read More

Shiva Goods Carrier Pvt Ltd Vs DCIT (ITAT Lucknow) ITAT Lucknow held that addition towards cash deposited during demonetization period as unexplained deposit under section 68 of the Income T… Read More

ITAT Delhi partially approves the appeal by the assessee in Sudha Vs ITO, eliminating additional cash deposit sourced from past savings and agricultural activities. The post ITAT deletes add… Read More

ITAT find from assessment order that there has been no abnormal cash deposit and assessment order is based on estimation and strange logic and without any legal basis and hence, held to be l… Read More

Shri T. Sriranga (HUF) Vs ITO (ITAT Bangalore) Admittedly cash has been deposited to the current account of the assessee amounting to Rs.46,85, 140/-. The only explanation offered by assesse… Read More

Deepa Satish Borse Vs  Income Tax Officer (ITAT Pune) ITAT held that once it has come on record that the assessee’s matrimonial matter has already supported her case of having rec… Read More

Shri Duraisamy Shanmugasundaram Vs ITO (ITAT Chennai) As per assessee’s submissions, the money deposited in NRE account was withdrawn by assessee’s parents in India. The same has… Read More

ITAT Delhi held that addition of interest income on fixed deposit with Canara Bank sustainable as contention of the assessee that fixed deposit is misplaced and hence there is no question of… Read More

ITAT Bangalore held that addition under section 68 with regard to deposit of Specified Bank Notes [SBN's] it was clarified that every deposit during demonetization doesn’t fall under c… Read More

Shail Jayesh Shah Vs ITO (ITAT Mumbai) From the copy of the bank statement of Kotak Mahindra Bank, we find that assessee had deposited Rs.6 lakh in cash in 600 old currency notes of Rs. 1000… Read More

Crawley & Roy Founders Engineers Pvt. Ltd Vs DCIT (ITAT Mumbai) In respect of addition made for delay in depositing of employees’ contribution to ESI, from the perusal of Form 3CD… Read More

R. Yuvaraj Vs ITO (ITAT Chennai) In the assessment order, the Assessing Officer asked the assessee to prove the source of the additional amount of ₹.52 lakhs found deposited in his sav… Read More

The Karnataka High Court has granted an interim stay on a demand of over Rs. 1100 crore against Flipkart India for assessment years (AYs) 2016–17 and 2018–19, wh… Read More

R.S. Diamonds India Private Limited Vs ACIT (ITAT Mumbai) The Assessing Officer noticed that the assessee has deposited a sum of Rs. 45 lakhs into its bank account during demonetization peri… Read More

Natarajan Purushothaman Vs ITO (ITAT Chennai) During appellate proceedings, the assessee submitted that he used to bring cash during visits to India and it was customary to provide some cash… Read More