Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Hemant Samarataji Lohar. v. ACIT (2024) 207 ITD 312 (Mum) (Trib.)

S. 69A : Unexplained money-Search-Accumulated cash amount-Recorded in the books of account-Addition is deleted. [S. 132]

D.L. Heera Bhai Jewellery Arcade (P.) Ltd. v. ACIT (2024) 207 ITD 1 /229 TTJ 1/ 236 DTR 233 (TM) (Delhi) (Trib.)

S. 69A : Unexplained money-Demonetisation-Cash deposited-Statement of director-Addition made on basis of statement of director of RBPL and some CCTV footages obtained from bank-Addition is deleted. [S. 115BE, 132,132(4A), 153C,292C, Indian Evidence Act, 1872, S.65B]

Maple Destinations and Dreambuild (P.) Ltd. v. DCIT (2024) 207 ITD 376 (Delhi) (Trib.)

S. 69 :Unexplained investments-Investment in purchase of a farm house-Survey-Reassessment is up held-Addition is deleted on the ground that no opportunity to cross examination is provided-No addition can be made ignoring the registered sale deed. [S.133A, 147, 148]

Rameshlal Kailash. v. ITO (2024) 207 ITD 217 (Chenni) (Trib.)

S. 69 :Unexplained investments-Survey-Amount surrendered-money lending-Assessable as business income-Cannot be taxed under deeming provision.[S. 28(i), 115BBE, 133A]

ACIT v. Doshion Veolia Water Solution (P.) Ltd. (2024) 207 ITD 801 (Mum) (Trib.)

S. 68 : Cash credits-Share capital-Share premium-Identity, genuineness of transaction and creditworthiness of investor is established-Deletion of addition by CIT(A) is affirmed

GIIR Communications India (P.) Ltd. v. DCIT (2024) 207 ITD 697 (Delhi) (Trib.)

S. 68 : Cash credits-Additional evidence-Mismatch in receipts between profit and loss account and Form 26AS-Matter remanded back to Assessing Officer for de novo adjudication.[Form No 26AS, ITAT R. 29]

Rama Mittal. v. ITO, NFAC (2024) 207 ITD 336/116 ITR 383 (Amritsar) (Trib.)

S. 68 : Cash credits-Sale of shares-Penny stock-PMC Fin Corp script-Long term capital gains-D-Mat account-Sale through recognized stock exchange-STT paid-Purchasing shares from the stock exchange platform is not unlawful and continuous buying of shares at increased price does not contravene any provisions of SEBI laws-Denial of exemption is not valid. [S.10(38), 45]

Elara India Opportunities Fund Ltd. v. DCIT (IT) (2024) 113 ITR 275 / 207 ITD 330 (Mum) (Trib.)

S. 68 : Cash credits-Foreign portfolio investor-Sale of shares-Holding more than 10 years as investment-Addition is deleted-DTAA-India-Mauritius.[S.9(1)(i), 115BBE, Art. 22]

Dev Darshan Designs (P.) Ltd. v. ITO (2024) 207 ITD 260 (Kol) (Trib.)

S. 68 : Cash credits-Protective basis-Substantive addition is confirmed-Addition is deleted. [S. 45,143(3), Vivad se Vishwas Scheme]

DCIT v. Shree Rupanandham Steel (P.) Ltd. (2024) 207 ITD 115 (Raipur) (Trib.)

S. 68 : Cash credits-Share application money-Substantial turnover-Established genuineness of transaction-Addition is deleted. [S.56(2)(viib), 131]