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Repayment of Rs. 1.85 Cr Loan in Two Days alone Does not Prove its Paper Entry: Delhi HC Upholds Deletion of S. 68 Addition [Read Order]

In a recent ruling, the Delhi High Court held that repayment of Rs. 1.85 crore loan within two days alone does not prove it was a paper entry, and...

AO fails to Conduct Independent Enquiry after Onus Shift: ITAT Upholds Deletion of ₹15 Cr Share...

Search Assessment Invalid Without Incriminating Evidence: ITAT Quashes Section 153A Additions [Read...

ITAT Upholds Deletion of S.68 Share Premium Addition for 14 Investors as Verification Compliance...

Annual Income Tax Case Digest: ITAT Decisions 2025 [Part V]

ITAT Weekly Round-up

This weekly round-up encapsulates the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan during the previous week, from 23 November 2025 to 29 November 2025. ...

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 ...

Double Taxation: ITAT Deletes ₹19.03 Lakh Addition u/s 68 on Recorded Sales Receipts [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the ₹19.03 lakh addition made under Section 68 of Income Tax Act,1961 on recorded sales receipts, holding that the income had...

Purchase of Shares Accepted in Earlier AYs Cannot be Doubted Upon its Sale: ITAT Quashes ₹9.32 Cr Addition [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that investments accepted as genuine in earlier scrutiny assessments cannot be doubted when the shares are subsequently sold and...

Tribunal's Remand must be "Open" and Not Restrict Assessment Provisions: Kerala HC Clarifies ITAT Order in Director's Income Tax Case [Read Order]

In a recent ruling, the Kerala High Court clarified that a tribunal's remand must be "open" and not restrict assessment provisions, holding that the Income Tax Appellate Tribunal's observation...

Absence of PAN Alone Doesn’t Make Sales Unexplained if RTO Records Prove Transfer: ITAT Deletes Addition u/s. 68 [Read Order]

TheIncome Tax Appellate Tribunal (ITAT), Mumbai bench has set aside an addition under Section 68 of the Income Tax Act, 1961, related to the sale of old cars. The bench ruled that proper transfer of...

ITAT Weekly Round-Up (14th September- 20th September)

This weekly round-up analytically summarises the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan during the previous week, from 14th September 2025 to 20th...