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Merely filing bank statement would not prove creditworthiness of creditor and genuineness of transaction: ITAT
Income Tax
Meetu KumariJun 14, 2022

Merely filing bank statement would not prove creditworthiness of creditor and genuineness of transaction: ITAT

Amendment to Sec 36(1)(va) and 43B of Income Tax Act will not have application for AY 2019-20: ITAT
Income Tax
Meetu KumariJun 14, 2022

Amendment to Sec 36(1)(va) and 43B of Income Tax Act will not have application for AY 2019-20: ITAT

Receipt which do not fall under definition of 'income' would not be includible in ‘book profit' u/s 115JB: ITAT
Income Tax
Meetu KumariJun 14, 2022

Receipt which do not fall under definition of 'income' would not be includible in ‘book profit' u/s 115JB: ITAT

ITAT restore the matter to CIT(A) to decide it on merits when assessee is not interested in pursuing appeal
Income Tax
CA Ayushi GoyalJun 14, 2022

ITAT restore the matter to CIT(A) to decide it on merits when assessee is not interested in pursuing appeal

AO cannot just levy penalty merely on ground that additions were made during quantum proceedings: ITAT
Budget
Meetu KumariJun 14, 2022

AO cannot just levy penalty merely on ground that additions were made during quantum proceedings: ITAT

Onus to explain identity and creditworthiness of person from whom credit is received lies on assessee: ITAT
Income Tax
CA Ayushi GoyalJun 14, 2022

Onus to explain identity and creditworthiness of person from whom credit is received lies on assessee: ITAT

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