Judgement

ITAT deletes Rs. 15.10 lakh addition, holding time gap alone insufficient to treat cash re-deposit as unexplained income

Demonetization Cash Deposits from Prior Withdrawals Can’t Be Taxed Just for Time Gap: ITAT

Articles

The Ministry of Finance has introduced some significant changes in buy-back taxation in the Finance Act (No. 2), 2024, which is effective from October 1, 2024.

Important Income Tax Alert: Major Amendment in Buy-Back Taxation

ITAT quashes 1.32 crore addition for cash deposit during demonetization, holding sales genuine

Cash During Demonetization: ITAT Says VAT Accepted Sales Can’t Be Taxed Again u/s 68

ITAT quashes 2.79 crore additions; holds AO’s actions lacked fair hearing, evidence, and legal justification.

No Proof, No Tax: ITAT Quashes 2.79 Cr Additions Based on Assumptions

High Court sets aside reassessment as 148A(b) notice didn’t mention escaped income of Rs. 11.37 Cr. AO acted beyond the notice scope.

Income Tax: HC Quashes Reopening Based on Insight Portal & Form 15CA/15CB Data

Missed claiming the Section 87A rebate? ITAT rules that such omissions are correctable. CPC can't deny a rebate if a revised return is filed under Section 139(5).

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

Demonetization Cash Deposits from Prior Withdrawals Can’t Be Taxed Just for Time Gap: ITAT

Important Income Tax Alert: Major Amendment in Buy-Back Taxation

Cash During Demonetization: ITAT Says VAT Accepted Sales Can’t Be Taxed Again u/s 68

No Proof, No Tax: ITAT Quashes 2.79 Cr Additions Based on Assumptions

Income Tax: HC Quashes Reopening Based on Insight Portal & Form 15CA/15CB Data

Income Tax Section 87A Rebate Denied by CPC? ITAT Rules in Favor of Taxpayer