Judgement

The ITAT Mumbai held that cash deposits that arise from disclosed business turnover can not be treated as unexplained money in absence of any material proving that such deposits represented unaccounted income

ITAT Held That Business Cash Deposits Cannot Be Treated as Unexplained Without Contrary Evidence 

News

ITAT deleted Rs 9.25 lakh of a tax addition after accepting part of a Mumbai taxpayer's family gift claim for cash credit card payments.

Mumbai Taxpayer Gets ITAT Relief in Rs 13.95 Lakh Credit Card Cash Payment Case

Articles

Most salaried taxpayers are waiting for Form 16 before filing their ITR. Here's why this document is important, what details it contains, and how it helps ensure accurate tax return filing.

ITR Filing FY 2025-26: Why Form 16 Matters Before You File

The ITAT Delhi held that once a transaction is covered under a binding APA under Section 92CC, the Revenue cannot disallow the same expenditure under Section 37(1), deleting the Rs 15.77 crore addition.

ITAT Deletes Rs 15.77 Crore Disallowance, Holds Business Expediency Cannot Be Reopened Under Section 37(1)

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.

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ITAT Held That Business Cash Deposits Cannot Be Treated as Unexplained Without Contrary Evidence

Mumbai Taxpayer Gets ITAT Relief in Rs 13.95 Lakh Credit Card Cash Payment Case

ITR Filing FY 2025-26: Why Form 16 Matters Before You File

ITAT Deletes Rs 15.77 Crore Disallowance, Holds Business Expediency Cannot Be Reopened Under Section 37(1)

Cash Deposits During Demonetisation Cannot Be Treated as Unexplained Income

Pune ITAT Restricts Taxation of Unrecorded Real Estate Receipts