Judgement

The ITAT held that the addition under section 69A can only be made if the assessee is found to be the owner of money which is not recorded in the books of account.

Additions Under Section 69A Can be Made Only When Assessee Owns Unrecorded Money: ITAT

A luxury hotel operator tried to write off Rs. 4.90 crore in failed payments, including a deposit lost after a major fire and money gone from a failed business bid.

Forfeiture of Earnest Money/Security Deposits allowed as Deductible Income Tax Expense

Assessee bought a flat at a lower price than stamp value; ITAT held booking date value applies (not registration date) and deleted the ₹29.22 lakh addition under Section 56(2)(x).

ITAT Recognizes Booking Date for Valuation of Immovable Property for Income Tax

HC quashes Section 148 notice, as broker register entry lacked nexus with assessee.

HC Sets Aside Section 148 Notice Based on Vague Broker Entries

The Gujarat High Court quashes reopening as broker register entries lacked nexus and failed to show income escapement.

High Court Quashes Reopening Based on Broker Register Without Nexus

The ITAT Mumbai rules the securitisation trust is a revocable trust under Sections 61–63; it rejects AOP classification and deletes additions.

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Additions Under Section 69A Can be Made Only When Assessee Owns Unrecorded Money: ITAT

Forfeiture of Earnest Money/Security Deposits allowed as Deductible Income Tax Expense

ITAT Recognizes Booking Date for Valuation of Immovable Property for Income Tax

HC Sets Aside Section 148 Notice Based on Vague Broker Entries

High Court Quashes Reopening Based on Broker Register Without Nexus

ITAT Holds Trust Income Taxable in Hands of Security Receipt Holders, Not Trust