Judgement

The ITAT Mumbai held that if the cash deposits are supported by a book of accounts, stock records, sales registers and VAT returns can not be held as unexplained money only because they were deposited during demonetisation.

Cash Deposits During Demonetisation Cannot Be Treated as Unexplained Income 

ITAT holds only the profit element in unaccounted receipts taxable and grants peak credit benefit.

Pune ITAT Restricts Taxation of Unrecorded Real Estate Receipts

The ITAT Agra quashed reassessment proceedings in a Rs 3.5 lakh donation deduction case, holding the Section 148 notice as time-barred and legally invalid.

ITAT Sets Aside Reassessment, Says Rs 3.5 Lakh Escaped Income Below Rs 50 Lakh Threshold for Extended Limitation

ITAT condones six-day delay and restores appeal for decision on merits by CIT(A).

ITAT Pune Restores Appeal Dismissed Over 6-Day Delay, Directs CIT(A) to Decide Matter on Merits

The ITAT Pune ruled that alleged unaccounted cash transactions recorded in seized cash books of the Viraj Group cannot be taxed separately in the hands of individual directors and entities.

ITAT Grants Major Relief to Viraj Group, Rules Seized Cash Transactions Cannot Be Taxed Separately

The ITAT condones the delay of 2157 days and remands the case back to the CIT(A), criticising them for dismissing the appeal ex-parte merely for being time-barred.

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Cash Deposits During Demonetisation Cannot Be Treated as Unexplained Income

Pune ITAT Restricts Taxation of Unrecorded Real Estate Receipts

ITAT Sets Aside Reassessment, Says Rs 3.5 Lakh Escaped Income Below Rs 50 Lakh Threshold for Extended Limitation

ITAT Pune Restores Appeal Dismissed Over 6-Day Delay, Directs CIT(A) to Decide Matter on Merits

ITAT Grants Major Relief to Viraj Group, Rules Seized Cash Transactions Cannot Be Taxed Separately

ITAT Condones 2157-Days Delay, Criticises CIT(A) For Not Hearing Case on Merits and Dismissing Appeal Ex-parte