Judgement

As per the Tribunal order, money received from the father and deposited during the demonization cannot be considered unexplained under Section 69A.

Money received from father deposited during demonization cannot be treated as unexplained u/s 69A: ITAT

ITR is a sacred document prescribed in law and reporting-error cannot be pleaded lightly: ITAT

Reporting cash balance in ITR is a statutory requirement and cannot be taken so lightly: ITAT

News

As the new year approaching, the benefit of Revised ITR is no longer available after January 1, you must file it by 31st Dec, 2022.

Income Tax Return: Last date for filing ITR is very close for these people; Check Details

"The assessee is not under obligation to explain cash deposits when an income tax return is filed under the presumptive taxation scheme," says ITAT.

Presumptive Taxation: Assessee not under obligation to explain cash deposit when ITR is filed u/s 44AD, says ITAT

In circumstances where the said building has been duly reflected in the schedule of fixed assets and perquisite value has been duly taxed ITAT allowed Interest Deduction on Loan on House Property used by Directors for their residential purpose.

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Money received from father deposited during demonization cannot be treated as unexplained u/s 69A: ITAT

ITR is a sacred document prescribed in law and reporting-error cannot be pleaded lightly: ITAT

Reporting cash balance in ITR is a statutory requirement and cannot be taken so lightly: ITAT

Income Tax Return: Last date for filing ITR is very close for these people; Check Details

Presumptive Taxation: Assessee not under obligation to explain cash deposit when ITR is filed u/s 44AD, says ITAT

ITAT Allows Interest Deduction on Loan on House Property used by Directors for their residential purpose