![No Addition u/s 68 in Partnership Firm’s Hands if Credit is in Partner’s Capital Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Addition-Partnership-Firm-Capital-Account-ITAT-taxscan.jpeg "No Addition u/s 68 in Partnership Firm’s Hands if Credit is in Partner’s Capital Account: ITAT [Read Order]")
No Addition u/s 68 in Partnership Firm’s Hands if Credit is in Partner’s Capital Account: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) ruled that no addition is permissible under Section 68 of the Income Tax Act, 1961,...
![Cash Deposit Sources Insufficiently Verified before making Addition u/s 68 of Income Tax Act: ITAT Remands Matter Back to Assessing Officer for Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Cash-Deposit-Sources-Income-Tax-Act-ITAT-Assessing-Officer-Re-Adjudication-taxscan.jpeg "Cash Deposit Sources Insufficiently Verified before making Addition u/s 68 of Income Tax Act: ITAT Remands Matter Back to Assessing Officer for Re-Adjudication [Read Order]")
![ITAT deletes Income Tax Addition made on Cash Deposits during Demonetization Period [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-tax-Income-tax-addition-ITAT-Delhi-ITAT-Deletes-Income-Tax-Addition-Income-Tax-Appellate-Tribunal-taxscan.jpg "ITAT deletes Income Tax Addition made on Cash Deposits during Demonetization Period [Read Order]")
![Addition on Unaccounted Sales and Purchases under Income Tax Act Solely Based on Loose Slips is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-tax-appellate-tribunal-Income-tax-act-sales-and-purchases-TAXSCAN.jpg "Addition on Unaccounted Sales and Purchases under Income Tax Act Solely Based on Loose Slips is Invalid: ITAT [Read Order]")
ITAT confirms Rs. 1.45 Crore Income Tax Addition as Short-Term Capital Gain in Taxpayer's Non-Agricultural Land Sale [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) confirmed an Income tax addition of Rs. 1.45 crore as short-term capital gain from the taxpayer's sale of non-agricultural land. The...
![ITAT confirms Rs. 1.45 Crore Income Tax Addition as Short-Term Capital Gain in Taxpayers Non-Agricultural Land Sale [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Mumbai-Income-Tax-Addition-as-Short-Term-Capital-Gain-Taxpayers-Non-Agricultural-Land-Sale-taxscan.jpg "ITAT confirms Rs. 1.45 Crore Income Tax Addition as Short-Term Capital Gain in Taxpayers Non-Agricultural Land Sale [Read Order]")
Taxpayer discharges Burden to prove Identity, Creditworthiness and Genuineness of Loan Creditors: ITAT deletes Income Tax Addition of 1.17Cr u/s 68 [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of 1.17 crore under Section 68 of the Income Tax Act, 1961 as the taxpayer had discharged the burden to prove...
![Taxpayer discharges Burden to prove Identity, Creditworthiness and Genuineness of Loan Creditors: ITAT deletes Income Tax Addition of 1.17Cr u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-Tax-Income-Tax-Addition-Taxpayer-ITAT-mumbai-Section-68-of-the-Income-Tax-Act-taxscan.jpg "Taxpayer discharges Burden to prove Identity, Creditworthiness and Genuineness of Loan Creditors: ITAT deletes Income Tax Addition of 1.17Cr u/s 68 [Read Order]")
Creditworthiness of Shares Subscribers and Genuineness of Transactions proved by Supported Documents: ITAT deletes Income Tax Addition u/s 68 [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under Section 68, of Income Tax Act, 1961 as the identity and creditworthiness of the share subscribers, along...
![Creditworthiness of Shares Subscribers and Genuineness of Transactions proved by Supported Documents: ITAT deletes Income Tax Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-kolkata-Income-Tax-Addition-ITAT-deletes-Income-Tax-Appellate-Trribunal-taxscan.jpg "Creditworthiness of Shares Subscribers and Genuineness of Transactions proved by Supported Documents: ITAT deletes Income Tax Addition u/s 68 [Read Order]")
Cash Source Seized by CBI from Corporate Office Sufficiently Explained: ITAT deletes Income Tax Addition of Rs. 89 lakhs u/s 69 [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs. 89 lakhs under Section 69 of the Income Tax Act, 1961 after the source of cash seized by the Central Bureau...
![Cash Source Seized by CBI from Corporate Office Sufficiently Explained: ITAT deletes Income Tax Addition of Rs. 89 lakhs u/s 69 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Cash-Source-Seized-ITAT-ITAT-delhi-CBI-Corporate-Office-Income-Tax-Section-69-of-the-Income-Tax-Act-Central-Bureau-of-Investigation-taxscan.jpg "Cash Source Seized by CBI from Corporate Office Sufficiently Explained: ITAT deletes Income Tax Addition of Rs. 89 lakhs u/s 69 [Read Order]")
Cash Deposits made From Parent's Accumulated Savings and Income from Agricultural Activities: ITAT Deletes Income Tax Addition u/s 69A [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has deleted the Income tax addition of unexplained money. It was found that the cash deposit was made from the assessee's parent’s...
![Cash Deposits made From Parents Accumulated Savings and Income from Agricultural Activities: ITAT Deletes Income Tax Addition u/s 69A [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Ahmedabad-Cash-Deposits-made-From-Agricultural-Activities-ITAT-Deletes-Income-Tax-Addition-taxscan.jpg "Cash Deposits made From Parents Accumulated Savings and Income from Agricultural Activities: ITAT Deletes Income Tax Addition u/s 69A [Read Order]")
Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC [Read Order]
In a significant ruling the Delhi High Court observed that the income tax addition made towards unsubstantiated share capital is eligible for deduction under Section 80-IC of the Income Tax Act,...
![Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Income-Tax-Exemption-Salaried-Employees-Income-Tax-Exemption-for-Salaried-Employees-taxscan-1.jpg "Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC [Read Order]")
Income Tax Addition under Section 69 of Income Tax Act not Permitted without Examining and Finding Fault in Cash Book Produced by Assessee: ITAT [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that the income tax addition under Section 69 of the Income Tax Income Tax Act, 1961 is not permitted without examining and...
![Income Tax Addition under Section 69 of Income Tax Act not Permitted without Examining and Finding Fault in Cash Book Produced by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Income-Tax-Addition-Income-Tax-Income-Tax-Act-Examining-and-Finding-Fault-in-Cash-Book-taxscan.jpg "Income Tax Addition under Section 69 of Income Tax Act not Permitted without Examining and Finding Fault in Cash Book Produced by Assessee: ITAT [Read Order]")