![Calcutta HC Rejects S.68 Appeal as Tax Effect Falls Below ₹2 Crore Limit Under Circular No. 9/2024 [Read Order]](https://images.taxscan.in/h-upload/2025/12/06/500x300_2110545-appeal-tax-effect-falls-below-crore-limit-taxscan.webp "Calcutta HC Rejects S.68 Appeal as Tax Effect Falls Below ₹2 Crore Limit Under Circular No. 9/2024 [Read Order]")
Calcutta HC Rejects S.68 Appeal as Tax Effect Falls Below ₹2 Crore Limit Under Circular No. 9/2024 [Read Order]
The Calcutta High Court declined to entertain a revenue appeal challenging the deletion of an addition made under Section 68 of the Income Tax Act,...
![ITAT Sets Aside ₹6.90 Cr Share Premium Addition for Non-Consideration of Assessee’s Evidence [Read Order]](https://images.taxscan.in/h-upload/2025/11/29/250x150_2108701-itat-premium-addition-non-consideration-assessee-evidence-taxscan.webp "ITAT Sets Aside ₹6.90 Cr Share Premium Addition for Non-Consideration of Assessee’s Evidence [Read Order]")
![Cash Sales of Jeweller on Demonetisation Day Held Genuine: ITAT Deletes S.68 Addition as Books Were Not Rejected [Read Order]](https://images.taxscan.in/h-upload/2025/11/28/250x150_2108560-itat-cash-deposit-income-tax-act-taxscan.webp "Cash Sales of Jeweller on Demonetisation Day Held Genuine: ITAT Deletes S.68 Addition as Books Were Not Rejected [Read Order]")
![Relief Denied in ₹100 Cr GST Fake ITC Case: Rajasthan HC Says ‘He Who Comes Into Equity Must Come With Clean Hands [Read Order]](https://images.taxscan.in/h-upload/2025/12/01/250x150_2109271-gst-itc-case-hc-taxscan.webp "Relief Denied in ₹100 Cr GST Fake ITC Case: Rajasthan HC Says ‘He Who Comes Into Equity Must Come With Clean Hands [Read Order]")
Sale Proceeds Recorded in Books Cannot be Recharacterized as Unexplained Cash Credit: ITAT Deletes Addition [Read Order]
The Visakhapatnam Bench of the Income Tax Appellate Tribunal (ITAT) has held that once the books of accounts and the resultant trading results are accepted by the Assessing Officer (AO), a portion ...
![Sale Proceeds Recorded in Books Cannot be Recharacterized as Unexplained Cash Credit: ITAT Deletes Addition [Read Order]](https://images.taxscan.in/h-upload/2025/11/27/500x300_2108388-unexplained-cash-credits.webp "Sale Proceeds Recorded in Books Cannot be Recharacterized as Unexplained Cash Credit: ITAT Deletes Addition [Read Order]")
Proceeds of Sales Already Accounted Cannot be Added as Unexplained Cash Credit: ITAT Deletes Addition [Read Order]
before the Commissioner of Income Tax (appeals) [CIT(A)]. The Jaipur Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted an addition of ₹44,61,000 and held that since the turnover and sales...
![Proceeds of Sales Already Accounted Cannot be Added as Unexplained Cash Credit: ITAT Deletes Addition [Read Order]](https://images.taxscan.in/h-upload/2025/11/18/500x300_2106382-cash-credit-income-tax-taxscan.webp "Proceeds of Sales Already Accounted Cannot be Added as Unexplained Cash Credit: ITAT Deletes Addition [Read Order]")
Mere Ownership of Agricultural Land Insufficient to Prove Agri Income: ITAT Upholds 50% Addition as Unexplained u/s 68 [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) dismissed the appeals for Assessment Years (AY) 2018-19 and 2019-20, upholding the addition of 50% of the agricultural income as...
![Mere Ownership of Agricultural Land Insufficient to Prove Agri Income: ITAT Upholds 50% Addition as Unexplained u/s 68 [Read Order]](https://images.taxscan.in/h-upload/2025/11/13/500x300_2104840-agri-income-itat-addition-taxscan.webp "Mere Ownership of Agricultural Land Insufficient to Prove Agri Income: ITAT Upholds 50% Addition as Unexplained u/s 68 [Read Order]")
Relief to Indian Oil Corporation: CESTAT Sets aside Order rejecting Customs Duty Refund Citing Limitation [Read Order]
In a ruling in favour of Indian Oil Corporation, the Ahmedabad bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) set aside the order which reject the refund of customs duty...
![Relief to Indian Oil Corporation: CESTAT Sets aside Order rejecting Customs Duty Refund Citing Limitation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Indian-Oil-Corporation.jpg "Relief to Indian Oil Corporation: CESTAT Sets aside Order rejecting Customs Duty Refund Citing Limitation [Read Order]")
S. 145(3) of Income Tax Cannot Be Invoked Without Identifying Specific Defects in Books: ITAT [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) ruled that Section 145(3) of the Income Tax Act, 1961, cannot be invoked without identifying specific defects in the books of accounts and...
![S. 145(3) of Income Tax Cannot Be Invoked Without Identifying Specific Defects in Books: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Defects-in-Books-of-Account-1.jpg "S. 145(3) of Income Tax Cannot Be Invoked Without Identifying Specific Defects in Books: ITAT [Read Order]")
ITAT Orders Reassessment of Post-Demonetization Cash Deposits by Bar & Restaurant Business Owner [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) directed for a fresh examination of cash deposits made during the demonetisation period, asserting that the taxability of such deposits...
![ITAT Orders Reassessment of Post-Demonetization Cash Deposits by Bar & Restaurant Business Owner [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Demonetization.jpg "ITAT Orders Reassessment of Post-Demonetization Cash Deposits by Bar & Restaurant Business Owner [Read Order]")