![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]")
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]](https://www.taxscan.in/wp-content/uploads/2023/11/No-investment-investment-books-of-Accounts-ITAT-Income-Tax-Addition-taxscan.jpg "No investment made outside books of Accounts: ITAT deletes Income Tax Addition [Read Order]")
![Relief to Portfolio: ITAT Deletes Income Tax Addition against Consignment Agent on Account of Purchase Return [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Relief-Relief-to-Portfolio-ITAT-Income-Tax-Addition-ITAT-Deletes-Income-Tax-Addition-Consignment-Agent-Purchase-Return-taxscan.jpg "Relief to Portfolio: ITAT Deletes Income Tax Addition against Consignment Agent on Account of Purchase Return [Read Order]")
![No Corroborative Evidence to show Bogus Purchase: ITAT sets aside Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Corroborative-Evidence-Bogus-Purchase-ITAT-Income-Tax-Addition-taxscan.jpg "No Corroborative Evidence to show Bogus Purchase: ITAT sets aside Income Tax Addition [Read Order]")
![Failure to Explain Source of Cash Deposit in Bank Account: ITAT Upholds Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-to-Explain-Source-Cash-Deposit-in-Bank-Account-ITAT-Income-Tax-Addition-TAXSCAN.jpg "Failure to Explain Source of Cash Deposit in Bank Account: ITAT Upholds Income Tax Addition [Read Order]")
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...
![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]](https://www.taxscan.in/wp-content/uploads/2023/10/Additions-Income-Tax-Act-Income-Tax-Income-Tax-Act-cant-be-Initiated-by-AO-without-Furnishing-Necessary-Evidences-AO-ITAT-Taxscan.jpg "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]")
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...
![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]](https://www.taxscan.in/wp-content/uploads/2023/10/Aditya-Birla-Finance-Ltd-Income-Tax-Addition-Supreme-Court-dismisses-SLP-Deletion-of-Income-Tax-Addition-Sale-Certificate-Auction-Purchasers-Placed-on-Possession-taxscan.jpg "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]")
Failure to Substantiate Source of Claim of Investment for claiming S.54F Deduction: ITAT upholds Income Tax Addition [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that appellant failed to substantiate source of claim of investment in the said property for the purpose of Section 54F of the Income Tax...
![Failure to Substantiate Source of Claim of Investment for claiming S.54F Deduction: ITAT upholds Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-to-Substantiate-Claim-of-Investment-Deduction-ITAT-upholds-Income-Tax-Addition-Income-Tax-Addition-ITAT-Investment-taxscan.jpg "Failure to Substantiate Source of Claim of Investment for claiming S.54F Deduction: ITAT upholds Income Tax Addition [Read Order]")
ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) confirms the Income Tax addition under Section 68 of the Income Tax Act, 1961 in the absence of evidence proving the unsubstantial...
![ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Confirms-Income-Tax-Addition-ITAT-Absence-of-Evidence-Income-Tax-Addition-Income-Tax-Business-Capital-taxscan.jpg "ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]")
Income Tax Addition on Account of Unexplained Investment u/s 69B of Income Tax Act due to Failure of Assessee to Compile Data and Information Due Covid-19 Pandemic: ITAT Restores matter to AO
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that due to unprecendent situation of Covid-19 the assessee could not explain the facts of his case, hence there is absence of relevant...
No Income Tax Addition can be made if Assessee Successfully Demonstrated Source of Cash Deposits in Bank Account during Demonitization Period: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT), held that the assessee has successfully demonstrated source of cash deposit to its bank account during demonetization period thus no income...
![No Income Tax Addition can be made if Assessee Successfully Demonstrated Source of Cash Deposits in Bank Account during Demonitization Period: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Addition-Assessee-Demonstrated-Source-of-Cash-Deposits-Cash-Deposits-Demonstrated-Source-Bank-Account-Demonitization-Period-ITAT-taxscan.jpg "No Income Tax Addition can be made if Assessee Successfully Demonstrated Source of Cash Deposits in Bank Account during Demonitization Period: ITAT [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]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the assessee has successfully demonstrated source of cash deposit of Rs. 2,40,00,000 to its bank account during demonetization period...
![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]")