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. 69A : Unexplained money-Senior Citizen-Deposit of cash during demonetisation period-Withdrawal from bank-Addition was deleted. [S.115BBE]

Om Prakash Nahar v. ITO (2022)100 ITR 345 /(2023] 198 ITD 312 (Delhi)(Trib)

S. 69A : Unexplained money-Search and Seizure-Shortage of physical stock-Only profit element embedded in sale transaction can be brought to tax. [S. 132]

Dy. CIT v. Mahendra Brothers Exports Pvt. Ltd. (2022) 99 ITR 537 (Mum)(Trib)

S. 69A : Unexplained money-Cash deposited in the bank-Explanation was not satisfactory-Addition was justified-Income from undisclosed source-Stock valuation-Suppression of stock-Addition was deleted. [S. 69, 145]

Kuldeep Kumar v. ITO (2022) 213 DTR 201/217 TTJ 632(Asr)(Trib)

S. 69A : Unexplained money-Cash deposited in Bank account-Withdrawal from bank-Proper explanation was furnished-Addition was deleted.

Krishna Agarwal (Smt) v. ITO (2022) 215 TTJ 245 / 213 DTR 74 (Jaipur)(Trib)

S. 69A : Unexplained money-Cash deposit in bank-Demonetisation period-Sale of flat-Addition was deleted.

Karishma Sharma (Ms.) v. ITO(IT) (2022) 98 ITR 65 (SN)(Bang) (Trib)

S. 69 : Unexplained investments-Survey-Undervaluation of stocks-Reconciliation statement filed-Addition is not justified. [S. 133A]

Dy. CIT v. Plasto Electronics Pvt. Ltd. (2022)95 ITR 93 / 218 TTJ 1 (SN)(Kol) (Trib)

S. 69 : Unexplained investments-Difference between books of account and Valuation Report-Addition was deleted. [S. 142A]

VRL Logistics Ltd. v. ACIT (2022)95 ITR 221 (Bang)(Trib)

S. 69 : Unexplained investments-Amount received from director-Officer should have verified the return of the director-Source of funds are explained-Addition was deleted. [S. 147, 148]

Astral Properties and Constructions Pvt. Ltd v. ITO (2022)97 ITR 210 (SMC) (Delhi) (Trib)

S. 69 : Unexplained investment-Stock figures and cash position different in statement furnished to the bank and in book of accounts-Statement given to third party not admissible as evidence-CIT(A) is justified in deleting additions. [133(6)]

ITO v. Ramesh Chand (2022)97 ITR 421 (Delhi) (Trib)

S. 69 : Unexplained investments-Burden of proof on department-Documents impounded in the course of survey-Sale consideration was accepted in the assessment of seller-Addition is not justified. [S.115BBE, 133]

Vatika Ltd v. ACIT (2022) 100 ITR 23 (SN) (Delhi)(Trib)