![Mere Non-Appearance of Directors Cannot Justify Additions When Documentary Compliance is Complete: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/itat-itat-roundup-weeklyrounup-taxscan-.jpg "Mere Non-Appearance of Directors Cannot Justify Additions When Documentary Compliance is Complete: ITAT [Read Order]")
Mere Non-Appearance of Directors Cannot Justify Additions When Documentary Compliance is Complete: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that mere non-appearance of directors does not justify additions under Section 68...
![ITAT estimates Cheque Discounter’s Taxable Income at 10% of Cash and Other Credit due to Possible Revenue Leakage [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-estimates-Cheque-Discounters-Taxable-Income-Income-Cash-and-Other-Credit-Credit-due-Revenue-Leakage-taxscan.jpg "ITAT estimates Cheque Discounter’s Taxable Income at 10% of Cash and Other Credit due to Possible Revenue Leakage [Read Order]")
![Unexplained Income from Rigged Stock Trades: ITAT upholds Rs. 44L Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Surat-Unexplained-Income-Rigged-Stock-Trades-Income-Tax-Appellate-Tribunal-Section-68-of-Income-Tax-Act-Income-Tax-taxscan.jpg "Unexplained Income from Rigged Stock Trades: ITAT upholds Rs. 44L Addition [Read Order]")
![Addition of Unexplained Income u/s 69 of Income Tax Act in absence of Proper Documents: Kerala HC allows one more Opportunity Considering Mental Illness of MD [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Kerala-High-Court-Income-Tax-Unexplained-income-Section-69-of-the-income-tax-act-MD-mental-illness-in-income-tax-case-TAXSCAN.jpg "Addition of Unexplained Income u/s 69 of Income Tax Act in absence of Proper Documents: Kerala HC allows one more Opportunity Considering Mental Illness of MD [Read Order]")
Assessee has Sufficient Source of Income beyond Doubt for Investment in Immovable Property: ITAT deletes Addition for Unexplained Source of Income [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition for unexplained source of income as the assessee had sufficient source of income beyond the doubt for investment in...
![Assessee has Sufficient Source of Income beyond Doubt for Investment in Immovable Property: ITAT deletes Addition for Unexplained Source of Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-Excise-Duty-Demand-Data-Received-on-Pen-Drive-Reliable-Evidence-CESTAT-taxscan.jpg "Assessee has Sufficient Source of Income beyond Doubt for Investment in Immovable Property: ITAT deletes Addition for Unexplained Source of Income [Read Order]")
Purchase and Sale of Share through Registered Stock Broker carried out through Demat Account cannot be Declared as Unexplained Income u/s 68 of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that AO was not justified in assessing the sale value of shares as unexplained cash credit in both the years under consideration and...
![Purchase and Sale of Share through Registered Stock Broker carried out through Demat Account cannot be Declared as Unexplained Income u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Purchase-Sale-of-Share-Registered-Stock-Broker-Demat-Account-cannot-be-Declared-as-Unexplained-Income-Income-Tax-Act-ITAT-Unexplained-Income-Demat-Account-taxscan.jpg "Purchase and Sale of Share through Registered Stock Broker carried out through Demat Account cannot be Declared as Unexplained Income u/s 68 of Income Tax Act: ITAT [Read Order]")
Obligation of Taxpayer is fulfilled when he establishes Identity, Credit Worthiness and Genuineness of Transaction concerning Unexplained Income u/s 68: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that discharging the initial onus cast by section 68 of the Act, the assessee has to establish (1) identity, (2) credit worthiness and...
![Obligation of Taxpayer is fulfilled when he establishes Identity, Credit Worthiness and Genuineness of Transaction concerning Unexplained Income u/s 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Obligation-of-Taxpayer-establishes-Identity-Credit-Worthiness-Genuineness-of-Transaction-concerning-Unexplained-Income-ITAT-TAXSCAN.jpg "Obligation of Taxpayer is fulfilled when he establishes Identity, Credit Worthiness and Genuineness of Transaction concerning Unexplained Income u/s 68: ITAT [Read Order]")
ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]
The Rajkot bench of the Income Tax Appellate Tribunal (ITAT) has allowed only 10% of the cash deposits made by an assessee as taxable income, citing a lack of evidence of the source of the deposits...
![ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-Cash-Deposits-Taxable-Income-Absence-Evidence-Source-IT-Act-TAXSCAN.jpg "ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]")
Deposit Made as a Reserve Amount for Business During Demonetization Period not amount to Unexplained Income: ITAT Deletes Addition [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that deposits made as a reserve amount for the business during the demonetization period do not amount to unexplained income. The...
![Deposit Made as a Reserve Amount for Business During Demonetization Period not amount to Unexplained Income: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Demonetization-Unexplained-Income-Deposit-Made-as-a-Reserve-Amount-for-Business-taxscan.jpg "Deposit Made as a Reserve Amount for Business During Demonetization Period not amount to Unexplained Income: ITAT Deletes Addition [Read Order]")
Claim of Loss against Surrendered Business Income Rejected on Ground of Unexplained Income: ITAT Directs Re-adjudication [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer to re-adjudicate the rejection of a claim of loss against the surrendered business income as...
![Claim of Loss against Surrendered Business Income Rejected on Ground of Unexplained Income: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Claim-of-Loss-Business-Income-Rejected-Unexplained-Income-ITAT-Re-adjudication-TAXSCAN.jpg "Claim of Loss against Surrendered Business Income Rejected on Ground of Unexplained Income: ITAT Directs Re-adjudication [Read Order]")
ITAT confirms Addition of Unexplained Income for SBN Deposits during Demonetization Period in Absence of Legitimate Source [Read Order]
The Cuttack Bench of the Income Tax Appellate Tribunal (ITAT) recently confirmed the addition of unexplained income for SBN deposits during the demonetization period in the absence of legitimate...
![ITAT confirms Addition of Unexplained Income for SBN Deposits during Demonetization Period in Absence of Legitimate Source [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Unexplained-Income-SBN-Deposits-during-Demonetization-Absence-of-Legitimate-Source-taxscan.jpg "ITAT confirms Addition of Unexplained Income for SBN Deposits during Demonetization Period in Absence of Legitimate Source [Read Order]")