Judgement

The ITAT deleted a Rs. 2,696,730 addition under Section 69A, ruling that Sanhati Infocom’s demonetisation-era cash deposits were legitimate business turnover substantiated by consistent sales records and bank statements.

Demonetisation Cash Deposits Accepted as Regular Business Income by ITAT

Delay excused; Tribunal restores the unexplained investment issue for reconsideration on merits by the AO.

Section 69 Addition Remanded After ITAT Condones Filing Delay

Tribunal rules a penalty cannot be imposed merely for rejected claims made on disclosed facts.

ITAT Grants Relief; Unsustainable Claims Do Not Attract Penalty

The Supreme Court dismisses Revenue SLP, affirms the quashing of reassessment for lack of PE evidence.

SC Upholds Delhi HC; Reopening Against GE Entities Held Invalid

Articles

A simple guide to Section 80C, covering eligible investments, tax benefits, and smart strategies to maximise savings.

Section 80C Tax Saving Guide: Investments, Benefits and Strategies

Tribunal holds SFT data alone insufficient and directs verification of foreign remittance claims.

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Demonetisation Cash Deposits Accepted as Regular Business Income by ITAT

Section 69 Addition Remanded After ITAT Condones Filing Delay

ITAT Grants Relief; Unsustainable Claims Do Not Attract Penalty

SC Upholds Delhi HC; Reopening Against GE Entities Held Invalid

Section 80C Tax Saving Guide: Investments, Benefits and Strategies

Unreconciled SFT Entries Not Enough for Addition, Rules ITAT