![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]")
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...
![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]](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 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]](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]")
Allahabad HC upholds Deletion of Income Tax addition u/s 68 of Income Tax Act as Assessee Proves Genuineness of Transaction [Read Order]
The Allahabad High Court upheld the deletion of Income Tax Addition under section 68 of the Income Tax Act, 1961 as the assessee proved the genuineness of the transaction. The assessee not only...
![Allahabad HC upholds Deletion of Income Tax addition u/s 68 of Income Tax Act as Assessee Proves Genuineness of Transaction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Allahabad-High-Court-Allahabad-HC-Section-68-Income-Tax-Act-Genuineness-of-transaction-in-tax-law-Taxscan.jpg "Allahabad HC upholds Deletion of Income Tax addition u/s 68 of Income Tax Act as Assessee Proves Genuineness of Transaction [Read Order]")
![Income Tax Addition on bad and doubtful debts: SC rules in favour of Gillette India [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/debts-Income-Tax-Addition-Income-Tax-SC-Gillette-India-SC-rules-in-favour-of-Gillette-India-taxscan.jpg "Income Tax Addition on bad and doubtful debts: SC rules in favour of Gillette India [Read Order]")
![ITAT nullifies Income Tax Additions in Penny Stock Deal for Quick Gains [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Penny-stock-gains-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-Income-tax-additions-Taxation-on-penny-stocks-Income-Tax-taxscan.jpg "ITAT nullifies Income Tax Additions in Penny Stock Deal for Quick Gains [Read Order]")
AO cannot Trigger Reassessment When Pending Appeal on Income Tax Addition Sustain: Delhi HC [Read Order]
The Delhi High Court has held that the Assessing Officer cannot trigger reassessment when a pending appeal on income tax addition is sustained. The appellant/revenue challenged the common order...
![AO cannot Trigger Reassessment When Pending Appeal on Income Tax Addition Sustain: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Trigger-Reassessment-Reassessment-AO-Assessing-Officer-Pending-Appeal-Income-Tax-Addition-Income-Tax-Delhi-High-Court-TAXSCAN.jpg "AO cannot Trigger Reassessment When Pending Appeal on Income Tax Addition Sustain: Delhi HC [Read Order]")
No Violation of Principle of Natural Justice on Income Tax addition made u/s 68 of Income Tax Act: Kerala HC directs to File Statutory Appeal [Read Order]
The Kerala High Court was directed to file a statutory appeal against the Income Tax Addition under section 68 of the Income Tax Act, 1961 was made in violation of the principle of Natural...
![No Violation of Principle of Natural Justice on Income Tax addition made u/s 68 of Income Tax Act: Kerala HC directs to File Statutory Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-sets-aside-Income-Tax-Addition-Statutory-Appeal-kerala-high-court-natural-justice-TAXSCAN.jpg "No Violation of Principle of Natural Justice on Income Tax addition made u/s 68 of Income Tax Act: Kerala HC directs to File Statutory Appeal [Read Order]")
![Delhi HC upholds Deletion of Income Tax Addition made on investment in Wrist Watches [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Income-Tax-Addition-investment-in-Wrist-Watches-Delhi-high-court-Income-Tax-on-Wrist-Watches-investment-Wrist-Watches-taxscan.jpg "Delhi HC upholds Deletion of Income Tax Addition made on investment in Wrist Watches [Read Order]")