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UNEXPLAINED CASH CREDIT
Hong Kong-based son gets tax notice after father buys insurance policy in his name with cash; he fights back and wins case in ITAT Mumbai- Paying tax won't legitimise cash stashes
- Lady sold apartment, took Rs 2.5 lakh cash, bought new apartment from son-in-law, paid no tax, got income tax notice; she fights back and wins case in ITAT Chennai
- CBDT tells tax officers to tighten scrutiny of unexplained income, assetsThe Central Board of Direct Taxes has directed tax officers to be more careful and consistent when using rules against hidden income and as...02 Jun, 2026, 12.33 AM IST
- Rs 13 lakh cash payment for credit card bill triggers tax notice; man wins case after ITAT accepts ‘family gift’ explanationA Mumbai man faced a tax notice for using Rs 13 lakh cash to pay his credit card bill. He explained the cash as gifts from his wife, father...01 May, 2026, 07.00 AM IST
- Deposited Rs 80 lakh cash during demonetisation: ITAT rejects property purchase claim, calls it unexplained incomeA Surat businessman's Rs 80 lakh cash deposit during demonetisation was deemed unexplained by ITAT Surat. The tribunal rejected his claim o...09 Apr, 2026, 05.57 PM IST
- Self-reporting of unexplained income in ITR to save 50%: A permanent Voluntary Disclosure of Income Scheme (VDIS) in Budget 2026?Budget 2026 reshapes taxation of unexplained income. Self-reporting undisclosed income now attracts a 30% tax rate. This is a significant r...13 Feb, 2026, 08.02 AM IST
- Pay reduced tax at 39% rate on unexplained income compared to 78% earlier, with close eye on penalty, Budget 2026 announcement?Budget 2026 brings a major tax relief for unexplained income. The tax rate has been slashed to 39 percent from the earlier 78 percent. This...06 Feb, 2026, 06.39 PM IST
- Fruit dealer earns Rs 92 lakh in a year; files no ITR; gets tax notice for unexplained cash credit; he fights back and wins case in ITAT BangaloreA Bengaluru fruit dealer successfully challenged a tax notice for unexplained cash credit. The Income Tax Appellate Tribunal (ITAT) Bangalo...31 Jan, 2026, 11.35 AM IST
- Rs 7 crore held as unexplained cash credit; man fights and wins case in ITAT Mumbai as it rules loose papers, chats can’t be treated as evidenceThe Income Tax Appellate Tribunal in Mumbai has ruled in favour of Mr. Nilawar. The tribunal cleared him of unexplained cash credit charges...30 Jan, 2026, 11.16 AM IST
- Rs 1.91 crore ‘unexplained cash’: HC grants relief to taxpayer despite ITR lapse by cash giverThe Patna High Court has provided relief to a taxpayer in a significant unexplained cash case. The court overturned an ITAT order concernin...20 Jan, 2026, 06.09 PM IST
- Lady sells property for Rs 94 lakh, gets Rs 38 lakh in cash; files no ITR, gets tax notice for unexplained income, wins case in ITAT MumbaiA homeowner who sold property for Rs 61 lakh and received Rs 38 lakh in cash has won a tax case. The Income Tax Appellate Tribunal Mumbai r...31 Dec, 2025, 11.18 AM IST
- Man sells Delhi property, shifts to Australia; tax dept adds Rs 40 lakh as unexplained cash credit, but he wins in ITAT DelhiThe Income Tax Appellate Tribunal in Delhi has made waves with its recent ruling. Taxpayers can now benefit from capital gains tax exemptio...02 Dec, 2025, 12.21 PM IST
- Pan masala and Bidi trader with Rs 5 crore turnover gets tax notice for unexplained cash credit, wins relief at ITAT Surat; here's whyA wholesale trader of Pan Masala and Bidi secured a significant victory at the ITAT Surat. The tribunal deleted an addition of Rs 12.29 lak...02 Dec, 2025, 11.04 AM IST
- Petrol pump owner declares Rs 37 lakh income in ITR, gets tax notice for Rs 14 lakh unexplained cash deposit, wins case in ITAT BangaloreA petrol pump owner declared Rs 37 lakh income on Rs 37 crore turnover. He received a tax notice for Rs 14 lakh cash deposit. The ITAT Bang...15 Nov, 2025, 12.43 PM IST
- Investors in penny stocks may get court relief to reduce tax burden if trades proved genuineThe income tax department views the sale of proceeds of such shares as “unexplained cash credit” or “unexplained money” subjecting it to a ...24 Feb, 2024, 01.57 PM IST
- Tax tribunal rules in favour of actor who got Rs 30 lakh gift from fatherKushal Tandon, a popular Bollywood actor, filed an appeal with the Income Tax Appellate Tribunal. The appeal was over several disputed tax ...09 Sep, 2021, 12.00 PM IST
- I-T dept unearths undisclosed income of Rs 1,000 crore from searches in Tamil Nadu"The searches, so far, have resulted in the detection of undisclosed income of more than Rs 1,000 crore. Unaccounted cash of Rs. 1.2 crore ...07 Mar, 2021, 01.34 PM IST
- Taxman may invoke Benami Act for unexplained credits, investmentsTax experts, however, said even now a distinction between unexplained tax credits, where higher tax is applicable, and a benami transaction...08 Dec, 2017, 07.11 AM IST
- Amended I-T law harsh, prone to misuse by taxmen: ExpertsI-T dept may question your income and expenditure details and tax you at a higher rate if you fail to offer a “satisfactory explanation” to...23 Jan, 2017, 07.44 AM IST
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