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ITAT remands Section 69A addition after AO failed to verify donors’ creditworthiness. Tribunal stresses fair inquiry before taxing unexplained money.
ITAT Bengaluru rules meals, transport & courier expenses are not deductible under Section 48 while computing capital gains on NRI property sales.
ITAT Amritsar rules that entire cash deposits cannot be taxed as unexplained income. Tribunal applies 8% presumptive tax rate in accommodation entry cases, granting major relief u…
ITAT rules that unexplained cash additions under Section 68 are invalid unless books are rejected under Section 145(3), deleting a ₹64 lakh addition.
ITAT rules that survey statements alone cannot justify bogus purchase additions under Section 68. Corroborative evidence is mandatory in tax assessments.