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![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...
![Addition made on Loan Amount u/s 68 of Act are based on Utter Suspicion and Conjectures: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Addition-made-on-Loan-Amount-ITAT-deletes-Addition-Addition-Loan-Amount-Utter-Suspicion-Utter-Suspicion-and-Conjectures-Conjectures-ITAT-Income-tax-taxscan.jpg "Addition made on Loan Amount u/s 68 of Act are based on Utter Suspicion and Conjectures: ITAT deletes Addition [Read Order]")
![Initiation of Revision Jurisdiction on Mere Conjectures, Suspicions and Surmises is invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Revision-Jurisdiction-Conjectures-Suspicions-ITAT-Income-Tax-Tax-Taxscan.jpg "Initiation of Revision Jurisdiction on Mere Conjectures, Suspicions and Surmises is invalid: ITAT [Read Order]")
![No Disallowance of Expenditure merely on the basis of Surmises and Conjectures of AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Expenditure-Taxscan.jpg "No Disallowance of Expenditure merely on the basis of Surmises and Conjectures of AO: ITAT [Read Order]")