![Credit Entries in Saving Account Cannot be treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT quashes Reassessment Proceedings initiated based on Conjectures and Surmises [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Credit-Entries-in-Saving-Account-Unexplained-Cash-Credit-Income-Tax-Act-ITAT-Reassessment-Proceedings-Conjectures-and-Surmises-TAXSCAN.jpg "Credit Entries in Saving Account Cannot be treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT quashes Reassessment Proceedings initiated based on Conjectures and Surmises [Read Order]")
Credit Entries in Saving Account Cannot be treated as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT quashes Reassessment Proceedings initiated based on Conjectures and Surmises [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench held that credit entries in the savings account in a bank could not be treated as unexplained...
![Relief to Havells India: ITAT deletes disallowance of sales incentive payable to dealers and distributors under “Shahenshah Scheme” [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Havells-India.jpg "Relief to Havells India: ITAT deletes disallowance of sales incentive payable to dealers and distributors under “Shahenshah Scheme” [Read Order]")
![No TDS applicable u/s 194C of Income Tax Act towards Casual labour expenses incurred for Road Construction, Crane Hiring and Site Machine Shifting: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-TDS-Income-Tax-Act-Casual-labour-expenses-Road-Construction-Crane-Hiring-Site-Machine-Shifting-ITAT-TAXSCAN.jpg "No TDS applicable u/s 194C of Income Tax Act towards Casual labour expenses incurred for Road Construction, Crane Hiring and Site Machine Shifting: ITAT [Read Order]")
![ITAT Deletes Addition u/s 69C of Income Tax Act made Solely on Basis of WhatsApp chat [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Addition-Income-Tax-Act-WhatsApp-chat-Income-Tax-taxscan.jpeg "ITAT Deletes Addition u/s 69C of Income Tax Act made Solely on Basis of WhatsApp chat [Read Order]")
![Deletion of Income Tax Addition on successful Demonstration of Source of Cash Deposits to bank during Demonitization: ITAT dismisses Revenue Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deletion-of-Income-Tax-Addition-on-successful-Demonstration-of-Source-of-Cash-Deposits-to-bank-during-Demonitization-ITAT-dismisses-Revenue-Appeal-TAXSCAN.jpg "Deletion of Income Tax Addition on successful Demonstration of Source of Cash Deposits to bank during Demonitization: ITAT dismisses Revenue Appeal [Read Order]")
ITAT directs to compute addition towards 2% of profit on sale of silver by assessee found during Search proceedings [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench directed to compute addition towards 2% of profit on silver sold by assessee found during the course of search proceedings. The AO made additions...
![ITAT directs to compute addition towards 2% of profit on sale of silver by assessee found during Search proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-to-compute-addition-towards-profit-on-sale-of-silver-by-assessee-found-during-Search-proceedings-TAXSCAN.jpg "ITAT directs to compute addition towards 2% of profit on sale of silver by assessee found during Search proceedings [Read Order]")
ITAT directs to compute addition towards 2% of Profit on Sale of Gold by assessee found during Search and Seizure [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench directed to compute addition towards 2% of profit on gold sold by assessee found during the course of search proceedings. During the ...
![ITAT directs to compute addition towards 2% of Profit on Sale of Gold by assessee found during Search and Seizure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-to-compute-addition-towards-Profit-on-Sale-of-Gold-by-assessee-found-during-Search-and-Seizure-TAXSCAN.jpg "ITAT directs to compute addition towards 2% of Profit on Sale of Gold by assessee found during Search and Seizure [Read Order]")
ITAT deletes Addition made u/s 69 of Income Tax Act without detecting material to establish Undisclosed Transactions involving Sale/Purchase of Gold in Cash outside Books of Accounts [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench deleted additions made under Section 69 of the Income Tax Act, 1961 without detecting material to establish undisclosed transactions involving...
![ITAT deletes Addition made u/s 69 of Income Tax Act without detecting material to establish Undisclosed Transactions involving Sale/Purchase of Gold in Cash outside Books of Accounts [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-ncome-Tax-Act-material-to-establish-Undisclosed-Transactions-involving-Sale-Purchase-of-Gold-in-Cash-outside-Books-of-Accounts-TAXSCAN.jpg "ITAT deletes Addition made u/s 69 of Income Tax Act without detecting material to establish Undisclosed Transactions involving Sale/Purchase of Gold in Cash outside Books of Accounts [Read Order]")
Bank Statement Needs to be Obtained Before Issuing Notice for Reassessment u/s 148: ITAT Deletes Income Tax Addition [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) held that the revenue authorities are expected at least to obtain the bank statement before issue of notice under Section 148 of the Income Tax...
![Bank Statement Needs to be Obtained Before Issuing Notice for Reassessment u/s 148: ITAT Deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Bank-Statement-Obtained-Issuing-Notice-Reassessment-ITAT-Income-Tax-Addition-TAXSCAN.jpg "Bank Statement Needs to be Obtained Before Issuing Notice for Reassessment u/s 148: ITAT Deletes Income Tax Addition [Read Order]")
Internal CUP is the most appropriate method for Undertaking the Determination of Arm’s Length Price: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the internal Comparable Uncontrolled Price Method (CPU) is the most appropriate method for undertaking the determination of the...
![Internal CUP is the most appropriate method for Undertaking the Determination of Arm’s Length Price: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Internal-CUP-is-the-most-appropriate-method-for-Undertaking-the-Determination-of-Arms-Length-Price-ITAT-TAXSCAN.jpg "Internal CUP is the most appropriate method for Undertaking the Determination of Arm’s Length Price: ITAT [Read Order]")