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
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S. 69C: Unexplained expenditure-Un accounted cash-Seized material, diary notings-Transfer within group-Taxed in respective entities-Addition is deleted-Unexplained receipts and payments-Estimation of gross receipts-CIT(A) is justified in adopting a profit rate of 30 per cent on total receipts, based on principle of taxing real income.
Kailash Ramavatar Goenka. v. ACIT (2025) 211 ITD 317 (Ahd) (Trib.)
S. 69C: Unexplained expenditure-Search and seizure-Seized document was found from third party premises-Addition is deleted-Payment to travel agent-Payment received on the basis of rooms booked-Addition is deleted. [S. 132]
DCIT v. Triton Hotels and Resorts (P.) Ltd. (2025) 211 ITD 1 (Mum) (Trib.)
S. 69A : Unexplained money-Search-Cash withdrawal-No explanation for reason for withdrawal-Addition cannot be made-Jewellery-Silver articles-Residence and bank locker-Joint family-Explanation have to be considered as belonging to family as a whole-Addition is deleted. [S. 132]
Ajay Data v. ACIT (2025) 211 ITD 701 (Jaipur)(Trib.)
S. 69 :Unexplained investments-Immoveable property-Non-Resident-Source of investment-Produced bank statement-Addition is deleted.
Anil Dhansukhlal v. ITO (2025) 211 ITD 236 (Rajkot)(Trib.)
S. 69 :Unexplained investments-Investment in flat which was made in earlier year-Reflected in balance sheet-Addition is deleted.
Kajari Banerjee (Smt.) v. ITO (2025) 211 ITD 358 (Kol.)(Trib.)
S. 69 :Unexplained investments-Immovable property-Loan from mother-Creditworthiness is established-Addition is deleted-Interest paid to mother-Matter remanded to the AO for verification. [S. 22, 24]
Ankur Goyal. v. ITO (2025) 211 ITD 571 (Delhi) (Trib.)
S. 68 : Cash credits-Share application money and share premium-Filed necessary details-Deletion of order by CIT(A) is affirmed.[S. 133(6)]
DCIT v. J.A. Infracon (P.) Ltd. (2025) 211 ITD 471 (Ahd) (Trib.)
S. 68 : Cash credits-Cash deposit-Demonetisation-Justified in treating as unexplained and lev levy tax as prescribed in section 115BBE of the Act.[S.2(37A,),115BBE, 131, 133(6)]
Spectra Equipment (P.) Ltd. v. ITO (2025) 211 ITD 61 (Hyd.)(Trib.)
S. 68 : Cash credits-Loans and advances-Cash deposit-Demonetisation-Best judgement assessment-Matter remanded to CIT(A) [S.69, 144]
Meena Jewellers Extension (P.) Ltd. v. ACIT (2025) 211 ITD 216 (Hyd) (Trib.)
S. 56 : Income from other sources-Fraudulently received refunds from income tax department by producing forged challans and parked same in accounts operated by him-Taxable on accrual basis even if the said amount was recovered by the Govt. of India in subsequent years-Deduction-Recovery of income did not constitute an expense incurred wholly and exclusively for purpose of earning income under section-Disallowance is affirmed. [S. 2(24), 4,57, 132]
Mukesh Rasiklal Shah. v. ACIT (2025) 211 ITD 74 (Ahd) (Trib.)