Daily Archives: November 17, 2025

JOINT BANK ACCOUNT HOLDER को INCOME TAX के नोटिस आ रहे हैं ! हो जाए सावधान

ITR REFUND PROCESSING आयकर विभाग ने बताया रिफंड कब तक आएगा ! INCOME TAX LATEST UPDATE

Demonetization cash deposit addition deleted as AO accepted sales, stock and purchases without evidence of undisclosed income. Issue Whether the Assessing Officer (AO) can treat a portion of cash sales deposited during the demonetization period as unexplained cash credits, relying on assumptions and the lack of prior deposits, even when the assessee’s audited books, purchases,… Read More »

Cash Deposit Addition Deleted as Source Proven to be Re-deposit of Earlier Cash Withdrawals Issue Whether an addition made on account of unexplained cash deposits in a bank account is sustainable when the assessee demonstrates through bank statements that the deposits were merely re-deposits of cash withdrawals made a few days earlier. Facts The assessee… Read More »

ITAT Condones 1350-Day Delay; Deletes Addition on Cash Deposits & Penalty on Bonafide Error Issue Whether a massive delay of 1350 days in filing an appeal can be condoned due to business closure, personal tragedy (father’s death), and lack of knowledge of proceedings? Whether cash deposits in a partner’s bank account can be treated as… Read More »

ITAT Condonation of Delay & Remand due to Consultant’s Negligence (Appeal Allowed for Statistical Purposes) Issue Whether an ex-parte dismissal by the CIT(A) for non-prosecution can be set aside and the delay of 198 days in filing the ITAT appeal condoned, given that the assessee was not informed by their tax consultant about the proceedings… Read More »

Cash gifts from close relatives accepted as genuine; addition deleted as creditworthiness proven Issue Whether an addition of Rs. 36,05,000/- made by the Assessing Officer treating cash gifts received from close relatives as “unexplained income” is sustainable when the assessee provides documentary evidence (affidavits and audited accounts) and the creditworthiness of the donors is not… Read More »

Cash deposit in SBNs during demonetization not unexplained income if source is genuine; addition deleted. Issue Whether cash deposits made in Specified Bank Notes (SBNs) during the demonetization period can be treated as unexplained income under the Income Tax Act solely because they were accepted in violation of government notifications, even when the source of… Read More »

Ex-parte orders against NRI remanded to AO on cost as consultant failed to inform Issue Whether an ex-parte best judgment assessment and a subsequent ex-parte appellate order can be set aside and remanded for fresh adjudication when the assessee, residing abroad, claims non-receipt of information due to the negligence of his tax consultant. Facts The… Read More »

Revenue’s Appeal Dismissed Due to Low Tax Effect Below ₹60 Lakhs Threshold Issue Whether the appeal filed by the Revenue (Income Tax Department) is maintainable when the tax effect involved in the dispute is Rs. 9,75,379/-, which is below the monetary limit prescribed by the CBDT for filing appeals before the Appellate Tribunal. Facts Appeal… Read More »