Judgement

The ITAT upheld the deletion of a Rs 1.80 crore addition under Section 68, holding that the increase in asset value arose from revaluation of assets acquired in an earlier financial year rather than any fresh unexplained investment.

ITAT Deletes Rs 1.80 Crore Addition, Holds Asset Revaluation Does Not Mean Fresh Investment

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 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

ITAT remands the Rs 40.46 lakh unexplained investment case to the AO to verify whether the amount was already disclosed and taxed by the assessee’s wife.

ITAT Remands Rs 40.46 Lakh Unexplained Investment Case for Fresh Examination, Directs AO to Verify Wife’s Tax Disclosure

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