Deposit of Huge Amount of SBN Notes in Bank Account: ITAT Confirms Income Tax Addition, Directs Authorities to Investigate Role of Bank Employees
While upholding an addition under section 68 of the Income Tax Act, 1961, the Income Tax Appellate Tribunal (ITAT), Hyderabad bench has directed the...
![Builder not liable to Pay Notional Rent on Residential Assets held as Stock-in-Trade: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Builder-Residential-Assets-Notional-Rent-Notional-Rent-on-Residential-Assets-Stock-in-Trade-ITAT-Income-Tax-Addition-taxscan-.jpg "Builder not liable to Pay Notional Rent on Residential Assets held as Stock-in-Trade: ITAT deletes Income Tax Addition [Read Order]")
![Foreign Currency is not a ‘Commodity’, Income Tax Addition based on Speculative Transactions not permissible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Foreign-Currency-Commodity-Income-Tax-Addition-Income-Tax-Tax-Speculative-Transactions-ITAT-Taxscan.jpg "Foreign Currency is not a ‘Commodity’, Income Tax Addition based on Speculative Transactions not permissible: ITAT [Read Order]")
![Relief to Doloo Tea Company: ITAT deletes Income Tax Addition made by Taxing Sale of Tea bushes and Shade Trees [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Doloo-Tea-Company-ITAT-Income-Tax-Addition-Taxing-Tea-bushes-Shade-Trees-TAXSCAN.jpg "Relief to Doloo Tea Company: ITAT deletes Income Tax Addition made by Taxing Sale of Tea bushes and Shade Trees [Read Order]")
![Excess Claim of Expenditure not be proved by relevant Bills: ITAT confirms Income Tax Addition. [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Claim-of-Expenditure-Bills-ITAT-Income-Tax-Addition-TAXSCAN.jpg "Excess Claim of Expenditure not be proved by relevant Bills: ITAT confirms Income Tax Addition. [Read Order]")
Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income Tax Addition [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the condition of proving “source of source of funds” under 68 of the Income Tax Act,1961 does not apply to non-residents....
![Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Source-of-Funds-Non-Residents-ITAT-Income-Addition-taxscan.jpg "Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income Tax Addition [Read Order]")
Bonus Paid to Partners attracts S. 40(b)(v) of Income Tax Act: ITAT allows Income Tax Addition to Luthra and Luthra LLP [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT), allowed income tax addition to Luthra and Luthra LLP on the ground that Bonus paid to partners attracts Section 40(b)(v) of Income Tax...
![Bonus Paid to Partners attracts S. 40(b)(v) of Income Tax Act: ITAT allows Income Tax Addition to Luthra and Luthra LLP [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Bonus-Paid-to-Partners-attracts-Income-Tax-Act-ITAT-allows-Income-Tax-Addition-to-Luthra-and-Luthra-LLP-TAXSCAN.jpg "Bonus Paid to Partners attracts S. 40(b)(v) of Income Tax Act: ITAT allows Income Tax Addition to Luthra and Luthra LLP [Read Order]")
![Income Tax Addition u/s 69A cant be based on Doubt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Addition-Income-Tax-Tax-ITAT-Taxscan.jpg "Income Tax Addition u/s 69A cant be based on Doubt: ITAT [Read Order]")
Income Tax Addition u/s 68 not permissible in the absence of any Books of Account: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Income Tax Addition under section 68 of the Income Tax Act,1961 is not valid in the absence of any books of account. ...
![Income Tax Addition u/s 68 not permissible in the absence of any Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Addition-u-s-68-absence-of-any-Books-of-Account-ITAT-Books-of-Account.jpg "Income Tax Addition u/s 68 not permissible in the absence of any Books of Account: ITAT [Read Order]")
![Investment on Gold Proved with Bills and Vouchers: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Investment-Gold-Proved-Bills-Vouchers-ITAT-deletes-Income-Tax-Addition-TAXSCAN.jpg "Investment on Gold Proved with Bills and Vouchers: ITAT deletes Income Tax Addition [Read Order]")