Judgement

ITAT deletes the Rs 1.44 crore addition under Section 69, observing that the disputed unlisted share investments were duly recorded in the books of account.

ITAT Deletes Rs 1.44 Crore Unexplained Investment Addition Under Section 69, Says Investments Were Recorded in Books

ITAT remanded the appeal to the CIT(A) for fresh adjudication after noting that evidence submitted against various income tax additions required proper examination.

ITAT Remands Appeal of Unexplained Investments and Loans After CIT(A) Allegedly Overlooked Submitted Evidence

The ITAT Ahmedabad holds mere Initial-Year balance sheet insufficient to establish compliance with Section 11(2)(b).

ITAT Denies Section 11(2) Exemption for Failure to Prove Continued Investment of Accumulated Funds

The ITAT Agra deleted unexplained investment additions of Rs 30 lakh and Rs 97 lakh made under Section 69 of the Income Tax Act.

ITAT Held Additions Based on Excel Sheets and Statements Without Corroborative Evidence Cannot Sustain Section 69 Proceedings 

The ITAT Mumbai allows final opportunity to assessee after ex parte assessment and appeal.

ITAT Remits Rs 1.65 Crore Unexplained Investment Case for Fresh Adjudication

The ITAT Ahmedabad held that mere comparison of year-end investments with six years’ accumulation insufficient to invoke Section 68.

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ITAT Deletes Rs 1.44 Crore Unexplained Investment Addition Under Section 69, Says Investments Were Recorded in Books

ITAT Remands Appeal of Unexplained Investments and Loans After CIT(A) Allegedly Overlooked Submitted Evidence

ITAT Denies Section 11(2) Exemption for Failure to Prove Continued Investment of Accumulated Funds

ITAT Held Additions Based on Excel Sheets and Statements Without Corroborative Evidence Cannot Sustain Section 69 Proceedings

ITAT Remits Rs 1.65 Crore Unexplained Investment Case for Fresh Adjudication

ITAT Holds FDR-Bank Balance Difference Cannot Alone Be Treated as Unexplained Income