The ITAT accepted the assessee's explanation regarding the ...

WhatsApp Chat Deemed Insufficient Evidence for Income Addition, TDS Credit Upheld.

January 2, 2025

Case Laws Income Tax AT

The ITAT accepted the assessee's explanation regarding the WhatsApp chat and held that the provisions of section 69A cannot be invoked for the addition of Rs. 30 lakhs, as the assessee had not received this amount from Omaxe Limited or any other party. The credit of TDS of Rs. 30 lakhs was duly given to the assessee by the income tax department after Omaxe Limited deposited the same. Consequently, the addition of Rs. 30 lakhs made by the AO was deleted.

View Source

← Previous Next →

The ITAT accepted the assessee's explanation regarding the ...

WhatsApp Chat Deemed Insufficient Evidence for Income Addition, TDS Credit Upheld.

January 2, 2025

Case Laws Income Tax AT

You may also like:

Addition u/s 68 OR 41(1) - unexplained cash credit - Cessation of liability - The appellant contested additions to their income, alleging bogus sundry creditors. Despite...

Tax deducted at source (TDS) credit was denied in the intimation u/s 143(1) to the assessee. The Commissioner of Income Tax (Appeals) upheld the Centralized Processing...

Credit of TDS - consideration received for offshore supply of rolling stock, when no corresponding income has been offered for taxation by the assessee - The ITAT cited...

Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

The Appellate Tribunal addressed two issues regarding TDS credit. Firstly, the Tribunal emphasized that income and TDS must align in any assessment year when income is...

Addition made u/s 69C of the Income Tax Act for alleged cash payments based on a WhatsApp message and statement of a third party. The key points are: The WhatsApp...

The Appellate Tribunal upheld the reopening of assessment u/s 147 due to the assessee providing bogus accommodation loss entries. The AO had reasons to believe in the...

Denial of TDS credit - Credit deferred to next year - To rest the adjudication, it suffice to voice that, the combined reading of Section 199(3) r.w. Rule 37BA(3) makes...

TDS credit - AO did not allow the TDS credit on the ground that the corresponding income of this TDS has not been offered to tax by the assessee as it was not received...

Tax Credit Entitlement - Credit of TDS if deductor failed to deposit the TDS to the Government

Claiming TDS credit whereas interest income was not recognized following cash basis of accounting - TDS amount deserves to be treated as income - but tds credit cannot...

This case deals with the levy of penalties u/ss 271AAA and 271(1)(c) of the Income Tax Act in relation to various additions made to the assessee's income based on seized...

Credit of TDS - Deductor deducted the TDS in the subsequent year - Income was shown in the ITR for the earlier year - since the assessee has shown income, the assessee...

Key legal issues and the Tribunal's holdings: Agricultural land sold by assessee situated beyond municipal limits cannot be treated as capital asset u/s 2(14). Addition...

The Appellate Tribunal considered a case involving additions u/s 68 where the assessee declared income u/s 44AD for trading grey clothes. The Assessing Officer deemed...

Quick Updates: