Judgement

The ITAT Mumbai holds that an NRI’s property investment was fully explained through a complete Dubai to India fund trail, quashing the section 69

ITAT Mumbai Deletes Rs. 2 Crore Section 69 Addition: NRI Proves Property Investment Came Entirely From Foreign Salary Savings

ITAT Mumbai Deletes 2 Crore Addition; NRI Proves Property Investment Came Entirely From Foreign Salary Savings

News

The Income Tax Department has empowered CPC Bengaluru to fix refund-related issues faster, reducing delays for taxpayers.

Good News for Taxpayers! Faster ITR Processing as CPC Takes Over Key Functions

The Tribunal highlighted the statutory requirement under section 69A which says that if an explanation is supported by credible evidence and is not proved false, no addition should be made

Cash Deposits from Property Sale Cannot Be Taxed as Unexplained

The ITAT Delhi restricts the disallowance of bogus purchases to 8% and treats it as a business expense instead of unexplained cash credits.

Fake Purchases to Be Disallowed as Business Expense, Not Cash Credits: ITAT

ITAT Hyderabad upheld the deletion of Rs. 25.24 crore after confirming that all unsecured loans were fully supported by a clear banking trail.

ITAT Confirms Deletion of Rs. 25.24 Crore Section 68 Addition After Assessee Proves Full Money Trail

The ITAT condoned the delay for 146 days and sent the assessee's rejected registration application filed under Section 12AB of the Income Tax Act, back to the CIT(A) for fresh consideration.

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ITAT Mumbai Deletes 2 Crore Addition; NRI Proves Property Investment Came Entirely From Foreign Salary Savings

Good News for Taxpayers! Faster ITR Processing as CPC Takes Over Key Functions

Cash Deposits from Property Sale Cannot Be Taxed as Unexplained

Fake Purchases to Be Disallowed as Business Expense, Not Cash Credits: ITAT

ITAT Confirms Deletion of Rs. 25.24 Crore Section 68 Addition After Assessee Proves Full Money Trail

ITAT Restores Section 12AB Registration Request After Accepting Genuine Condonation of Delay for 146 Days