S. 69A : Unexplained money-Agricultural income-Disallowance at 25 Per Cent of expenses incurred for earning agriculture income is held to be reasonable.
Jigar Ashok Hebra v. ITO (2022) 96 ITR 310 (SMC) (Ahd) (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-Money received from relatives-entries recorded in the books of accounts-Explanation of the purpose of receiving the money given-Identity of persons not in doubt-payments received through banking channel-Addition made not proper.
Jagmohan Kaur Bajwa (Smt.) v. ITO (2022)97 ITR 149 (Chd) (Trib)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)