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Can AO made the addition ignoring the claim of the assessee that the cash withdrawn from the bank was available with the assessee for the deposit in the bank account?Section 69A
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ITAT DELHI “SMC” BENCH Pronouncement the order on 27.5.2022 in the case of Bharat Bhushan Jain Vs. ITO.
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Demonetization . Deposit of cash into bank. Before making addition for cash deposit into bank during Demonetization period the Ld. AO has to consider on merits the opening balance for which evidence were produced for allowing credit of cash withdrawal, financials of previous years and audit report if any. Accordingly, the issues raised in this appeal are restored to the files of the Assessing Officer. ITAT- Bangalore in the case of Sri Mohan Ramachandra Basawa, … vs ITO on on 20 January, 2021. Section 68, 69A and 115BBE:
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Section 68, 69A and 115BBE: Demonetization . Deposit of cash into bank. Where the assessee proves that regular bank deposits of cash from 01.04.2016 to 2.11.2016, as well as after demonetization and also Opening balance are commensurate with the accepted turnover then the addition was not warranted and it is directed to be deleted. ITAT- Gauhati on on 20 January, 2021 in the case of Nurul Islam, Nagaon vs Income Tax Officer, Ward-Nagaon, … A.Y. 2017-18
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Section 69A:क्या होगा जब बुक्स की क्रेडिट एंट्री के बारे में करदाता क्रेडिटवर्थनेस प्रमाणित कर देता है और कर निर्धारण अधिकारी अपनी फाइंडिंग को बिना बताए आय में एडिशन कर देता है? ITAT Delhi ने 10 नवंबर 2020 को VIKASH vs.ITO
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Section 69A, 69B, 148, 254 CHANDULAL AMRUTLAL SHAH (HUF) & ORS. vs. ITO May 4, 2020 ITAT SURAT AY 2000-01 & 2004-05. Supreme Court in the case of MCorp Global (P) Ltd. v. CIT [2009] 309 ITR 434 (SC) held that It is well-settled that the Tribunal is not authorized to take back the benefit granted to the assessee by the Assessing Officer. It has no power to enhance the assessment. In view of the statutory provisions. AO cannot enhanced the income originally assessed under section 143 (3) in set-aside proceeding in consequence of direction of the tribunal.
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सर्वे के दौरान अगर आप ने कोई आय सरेंडर करते समय यह लिखा कि यह आय इनकम फ्रॉम बिजनेस एंड प्रोफेशन से है तो यह आय इनकम फ्रॉम बिजनेस एंड प्रोफेशन स्की मानी जाएगी एवं प्रॉफिट एंड लॉस अकाउंट में इनकम सरेंडर के रूप में दर्शाई जाएगी और पूरा प्रॉफिट एंड लॉस अकाउंट निकाला जाएगा लेकिन यहीं आय आपने इनकम फ्रॉम अदर सोर्सेज बताइ तो यह आय इनकम फ्रॉम अदर सोर्सेस मानी जाएगी। कृपया ध्यान रखें इसका बहुत फर्क पड़ता है