S. 69C: Unexplained expenditure-Brokerage payment-Loose paper-Recovered from the partner of the firm-Order of CIT(A) deleting the addition was affirmed. [S. 132,153C]
DCIT v. Saarrthi Reality and Infra LLP (2025) 214 ITD 27 (Mum) (Trib)
Digest of case laws
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This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
Click here to download the pdf versions of the Digest of case laws S. 69A : Unexplained money-Accommodation entries-long-term capital gains-Accommodation entries-Penny stock-Reassessment was affirmed-Addition was deleted on merits. [S.10(38), 45, 147, 148]
ITO v. Harsha Asheshbhai Patel. (2025) 214 ITD 502 (Ahd) (Trib.)S. 69A: Unexplained money-On money-Sale of flats-Uncorroborated document-WhatsApp chat-No independent supporting evidence-Order of CIT(A) deleting the addition was affirmed.[S. 43CA, 153C]
DCIT v. Saarrthi Reality and Infra LLP (2025) 214 ITD 27 (Mum) (Trib)S. 68: Cash credits-Cash deposits-Demonetization-Proved sales with VAT returns, stock records, supplier confirmations-Books of account not rejected-Addition was deleted. [S. 145(3)]
ITO v. Rajeshkumar Rameshchandra Shah. (2025) 214 ITD 725 (Ahd) (Trib.)S. 68: Cash credits-Unsecured loan-Additional evidence –Interest paid to related parties-Denial of exemption-Matter remanded to the Assessing officer-corpus without written direction from donor, same would not qualify as corpus under section 11(1)(d).[S.11(1)(d), 13, ITAT R. 29]
Smt. Ramanandi Anangpuria Charitable Trust. v. DCIT (2025) 214 ITD 574 (Chd) (Trib.)S. 68: Cash credits-Share capital-Share premium-Equity shares of Rs 10 each-Premium of Rs 990 per share –Summons not complied with-Failure to establish creditworthiness-Addition made by the Assessing Officer was affirmed. [S.131]
Winsher Vinimay (P.) Ltd. v. ITO (2025) 214 ITD 328/125 ITR 219 (Kol) (Trib.)S. 68: Cash credits-Long-term capital gains-Accommodation entry-Off market-Paid cash-Sole transaction-Investigation report-Order of CIT(A) denying the exemption and assessing as cash credits affirmed.[S. 10(38), 45, 115BBE]
Jelly Samkit Doshi. v. ITO (2025) 214 ITD 255 (Ahd) (Trib.)S. 68: Cash credits-Cash deposits in its bank-Demonetization period-Opening cash balance-Addition was deleted as cash credits read with section 115BBE of the Act. [S.115BBE]
G.N. International (P.) Ltd. v. ACIT (2025) 214 ITD 180 (Delhi) (Trib.)S. 68: Cash credits-Sale of shares-Shares held for more than 19 years-Long-term capital gains cannot be assessed as cash credits-Entitled to exemption. [S. 10(38), 45]
ITO v. Ketan Dilip Shah. (2025) 214 ITD 85 (Mum) (Trib.)S. 56: Income from other sources-Fixed deposit with bank-Assessable as income from other sources-Interest expenditure-, Deduction under section 57(iii) was to be allowed after examining the nexus of the same with interest income. [S 57 (iii)]
Shapoorji Pallonji Energy (Gujarat) (P) Ltd. v. DCIT (2025) 214 ITD 297 (Mum) (Trib.)