Judgement

The ITAT, after reviewing the case, found no valid justification for the cash deposits, and the addition of Rs. 8 lakhs  was upheld.

ITAT Dismisses Appeal in Cash Deposit Case, Upholds Rs. 8 Lakh Addition

ITAT held that reassessment based solely on third-party Insight Portal information, without independent verification and despite full disclosure by the assessee, is invalid in law and liable to be quashed.

ITAT Held Reassessment Based on Third-Party Information and Borrowed Satisfaction as Invalid

The Tribunal said that the case require further verification, and remanded the case back to the CIT(A).

ITAT Partly Allows Appeal Citing Need for Detailed Verification in Cash Deposit Transaction 

Uploading Unaudited, Director-Unsigned without UDIN in AOC-4 Filings by CA Held as Professional Misconduct

ICAI Reprimands CA for Uploading Unsigned Financial Statements Without UDIN and certifying AOC-4

News

Income Tax Department made a public appeal to curb use of Black Money during Maharashtra Municipal Elections 2025-26

Income Tax Department’s Appeal for Public Cooperation Against Black Money in Elections

ITAT rejects assessment due to complete lack of enquiry into cash deposits forming immediate source of loans and partner’s capital

ITAT Upholds Revision Where AO Failed to Examine Source of Cash Deposits Behind Unsecured Loans

One Stop Solution For CA CS CWA Direct Indirect Tax GST Business News

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts