![Swapping Company Shares among Shareholders does attract Addition u/s 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/12/Share-Broker-GST-Taxscan.jpg "Swapping Company Shares among Shareholders does attract Addition u/s 68: ITAT [Read Order]")
Swapping Company Shares among Shareholders does attract Addition u/s 68: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the provisions of section 68 of the Income Tax Act, 1961 would not be...
![ITAT Annual Digest [Part - 40]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Annual-Digest-Part-40-TAXSCAN.jpg "ITAT Annual Digest [Part - 40]")
![Opening Balance of Unsecured Loan cannot be treated as ‘Unexplained’: ITAT deletes Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Opening-Balance-Unsecured-Loan-ITAT-taxscan.jpg "Opening Balance of Unsecured Loan cannot be treated as ‘Unexplained’: ITAT deletes Addition u/s 68 [Read Order]")
![Mere Non-Production of Directors in person not a ground to confirm Addition u/s 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/09/Chartered-Accountant-ITAT-Taxscan.jpg "Mere Non-Production of Directors in person not a ground to confirm Addition u/s 68: ITAT [Read Order]")
![Income / Losses declared by Investor Companies not a Sole Criterion to examine Creditworthiness of Shareholders: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Share-Capital-Taxscan.jpg "Income / Losses declared by Investor Companies not a Sole Criterion to examine Creditworthiness of Shareholders: ITAT [Read Order]")
Statement of Third Parties can’t be relied as Evidence If No Opportunity for Cross-Examination was granted: ITAT [Read Order]
The New Delhi bench of Income Tax Appellate Tribunal in Rajat Exports Import (India) Pvt. Ltd versus ITO held that if no opportunity for cross-examination is granted then the statement of third...
![Statement of Third Parties can’t be relied as Evidence If No Opportunity for Cross-Examination was granted: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/10/Cross-Examination-ITAT-Taxscan.jpg "Statement of Third Parties can’t be relied as Evidence If No Opportunity for Cross-Examination was granted: ITAT [Read Order]")
Gift through Banking Channels can’t be treated as Genuine unless Conditions of S. 68 is satisfied: Delhi HC [Read Judgment]
In the Commissioner of Income Tax vs M.S Aggarwal the Delhi High Court reiterated the decision of Sumati Dayal versus Commissioner of Income Tax, Bangalore and held that a gift cannot be accepted as...
![Gift through Banking Channels can’t be treated as Genuine unless Conditions of S. 68 is satisfied: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/05/Monies-Taxscan.jpg "Gift through Banking Channels can’t be treated as Genuine unless Conditions of S. 68 is satisfied: Delhi HC [Read Judgment]")
No Addition If Delay in Depositing Cash withdrawn was explained by way of Oral Evidence: Delhi High Court [Read Judgment]
The Delhi High Court annulling the decisions of Income Tax Appellate Tribunal (ITAT) and Commissioner of Income Tax (Appeals) held that if there is a delay in depositing withdrawn cash to the...
![No Addition If Delay in Depositing Cash withdrawn was explained by way of Oral Evidence: Delhi High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/02/Delhi-High-Court-Taxscan.jpg "No Addition If Delay in Depositing Cash withdrawn was explained by way of Oral Evidence: Delhi High Court [Read Judgment]")
When Company has Sufficient Share Capital & Premium through Reserves, Its Capacity to Invest can’t be Suspected: ITAT [Read Order]
While hearing the case between Zion Promoters & Developers (P) Ltd and Additional Commissioner of Income Tax, Delhi bench of Income Tax Appellate Tribunal ( ITAT ) recently ruled that when the...
![When Company has Sufficient Share Capital & Premium through Reserves, Its Capacity to Invest can’t be Suspected: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "When Company has Sufficient Share Capital & Premium through Reserves, Its Capacity to Invest can’t be Suspected: ITAT [Read Order]")
ITAT confirms Addition since Assessee and Family received Huge Gifts and failed to prove any relationship with Donor [Read Order]
While hearing the case of Kamlesh Parwani, the Mumbai bench of Income Tax Appellate Tribunal (ITAT) confirmed the addition made by the Assessing Officer since the Assessee and family received huge...
![ITAT confirms Addition since Assessee and Family received Huge Gifts and failed to prove any relationship with Donor [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/Gifts-Taxscan.jpg "ITAT confirms Addition since Assessee and Family received Huge Gifts and failed to prove any relationship with Donor [Read Order]")
![No Addition if Assessee able to Prove Genuineness of Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/ITAT-Taxscan-1.jpg "No Addition if Assessee able to Prove Genuineness of Transaction: ITAT [Read Order]")
Re-Assessment passed after 4 years without Approval of Chief Commissioner or Commissioner of Income Tax is Invalid: Delhi HC [Read Judgment]
The Delhi High Court recently announced that the re-assessment passed under sections 147/ 148 of the Income Tax Act after 4 years without the approval of Chief Commissioner or Commissioner of Income...
![Re-Assessment passed after 4 years without Approval of Chief Commissioner or Commissioner of Income Tax is Invalid: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/02/Re-Assessment.jpg "Re-Assessment passed after 4 years without Approval of Chief Commissioner or Commissioner of Income Tax is Invalid: Delhi HC [Read Judgment]")