Judgement

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

The ITAT Mumbai holds assessee should not be shut out from producing necessary evidence.

ITAT Mumbai Remands Rs 4.03 Crore Unexplained Investment Addition to AO

ITAT deleted the Section 69 addition, holding that a DVO’s disputed construction-cost estimate cannot alone establish unexplained investment without corroborative evidence.

DVO’s Estimated Construction Cost Not Enough for Section 69 Unexplained Investment Addition, Holds ITAT

ITAT has restored the Rs 86.51 lakh unexplained mutual fund investment addition for fresh assessment, allowing the assessee an opportunity to prove that the investment came from earlier mutual fund redemptions.

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

ITAT Mumbai Remands Rs 4.03 Crore Unexplained Investment Addition to AO

DVO’s Estimated Construction Cost Not Enough for Section 69 Unexplained Investment Addition, Holds ITAT

Double Taxation Claim Over Mutual Fund Redemption Prompts ITAT Fresh Assessment in Rs 86.51 Lakh Unexplained Investment Case