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Income Tax Addition

Allahabad HC upholds Deletion of Income Tax addition u/s 68 of Income Tax Act as Assessee Proves Genuineness of Transaction [Read Order]

Yogitha S. Yogesh

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...

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]

AO cannot Trigger Reassessment When Pending Appeal on Income Tax Addition Sustain: Delhi HC [Read...

No Violation of Principle of Natural Justice on Income Tax addition made u/s 68 of Income Tax Act:...

Delhi HC upholds Deletion of Income Tax Addition made on investment in Wrist Watches [Read Order]

The Delhi High Court upheld the order ofthe Income Tax Appellate Tribunal [“Tribunal”] which deleted the Income Tax Addition made on investment in...

No investment made outside books of Accounts: ITAT deletes Income Tax Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench, while deleting the Income Tax Addition, held that no investment has been made by the assessee outside the books of account. The assessee, Direct...

Relief to Portfolio: ITAT Deletes Income Tax Addition against Consignment Agent on Account of Purchase Return [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has granted relief to portfolio deleting the income tax addition against the consignment agent on account of purchase return. The assessee,...

No Corroborative Evidence to show Bogus Purchase: ITAT sets aside Income Tax Addition [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal(ITAT) set aside the addition made under the Income Tax Act, 1961 in the absence of corroborative Evidence. M/s. Yashaswi Fish Meal and Oil...

Failure to Explain Source of Cash Deposit in Bank Account: ITAT Upholds Income Tax Addition [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the upheld income addition on failure to explain the source of cash deposit in bank account. The assessee, Mohan was engaged in...

Non-Consideration of Evidences Furnished to Prove Identity and Creditworthiness of Investors and Genuiness of Transaction: ITAT directs AO to Delete Income Tax Addition [Read Order]

The Kolkata Bench held that the assessee has furnished all the evidences proving identity and creditworthiness of the investors and genuineness of the transactions but AO has not commented on these...

Relief to Aditya Birla Finance Ltd: Supreme Court dismisses SLP on Deletion of Income Tax Addition as Sale Certificate and Auction Purchasers Placed on Possession [Read Judgement]

As a relief to Aditya Birla Finance Limited & Ors, the Supreme Court of India dismissed the Special Leave Petition(SLP) on the deletion of income tax addition as a sale certificate and...

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