![Source for Deposits made in Demonetisation Period Substantiated: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-tax-Demonetisation-deposits-Section-68-of-income-tax-act-taxscan.jpg "Source for Deposits made in Demonetisation Period Substantiated: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]")
Source for Deposits made in Demonetisation Period Substantiated: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has deleted the addition under Section 68 of the Income Tax Act, 1961 as the source...
![Taxpayers Document Validates Identity and Transaction Genuineness: ITAT deletes Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Kolkata-ITAT-Income-tax-Section-68-taxscan.jpg "Taxpayers Document Validates Identity and Transaction Genuineness: ITAT deletes Addition u/s 68 [Read Order]")
![No Adverse Findings on Purchases or Stock:Â ITAT deletes 39.2 Lakhs cash credit u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Delhi-Income-tax-Cash-credit-Stock-assessment-taxscan.jpg "No Adverse Findings on Purchases or Stock:Â ITAT deletes 39.2 Lakhs cash credit u/s 68 of Income Tax Act [Read Order]")
![No Addition u/s 68 based on turnover declared under 44 AD of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-taxscan.jpg "No Addition u/s 68 based on turnover declared under 44 AD of Income Tax Act: ITAT [Read Order]")
![Powers of CIT (A) coterminous with that of AO: ITAT upholds CIT(A) Order u/s 250 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Powers-of-CIT-A-CIT-A-AO-ITAT-CITA-Order-taxscan.jpg "Powers of CIT (A) coterminous with that of AO: ITAT upholds CIT(A) Order u/s 250 [Read Order]")
Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]
In recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted addition under Section 68 of Income Tax Act as genuineness of purchase and sale of shares is proven by...
![Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Purchase-and-Sale-of-Shares-Shares-taxscan.jpg "Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]")
Failure to establish Ingredients prescribed u/s 68 of Income Tax Act : ITAT upholds addition [Read Order]
The Kolkata  bench Income Tax Appellate Tribunal (ITAT) while confirming the addition made by the assessing officer held that the assessee failed to establish the ingredients prescribed uner...
![Failure to establish Ingredients prescribed u/s 68 of Income Tax Act : ITAT upholds addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Failure-Ingredients-Income-Tax-Act-ITAT-ITAT-upholds-addition-income-tax-itat-kolkata-taxscan.jpg "Failure to establish Ingredients prescribed u/s 68 of Income Tax Act : ITAT upholds addition [Read Order]")
ITAT directs Re adjudication with respect to Denial of LTCG incurred from Sale of Shares without Analyzing Proper Evidence [Read Order]
The Mumbai bench Income Tax Appellate Tribunal ( ITAT ) directs re adjudictaion with respect to the denial of Long Term Capital Gain ( LTCG ) incurred from the sale of shares without analyzing proper...
![ITAT directs Re adjudication with respect to Denial of LTCG incurred from Sale of Shares without Analyzing Proper Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Mumbai-ITAT-Income-Tax-Sale-of-Shares-LTCG-on-Shares-Sale-ITAT-Direction-ITAT-Shares-Sale-LTCG-Evidence-Taxscan.jpg "ITAT directs Re adjudication with respect to Denial of LTCG incurred from Sale of Shares without Analyzing Proper Evidence [Read Order]")
ITAT directs AO to verify Fabricated Financial Statements with respect to Share Application Money in P/L Account [Read Order]
The Chennai bench Income Tax Appellate Tribunal ( ITAT ) recently directed the Assessing Officer ( AO )to verify the fabricated financial statements with respect to share application money in Profit...
![ITAT directs AO to verify Fabricated Financial Statements with respect to Share Application Money in P/L Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Chennai-Income-Tax-Financial-Statements-TAXSCAN.jpg "ITAT directs AO to verify Fabricated Financial Statements with respect to Share Application Money in P/L Account [Read Order]")
Failure to controvert evidence with respect to Sale against Advance amount received from Trade Creditors by ITD: ITAT deletes addition [Read Order]
The Two member bench of Income Tax Appellate Tribunal ( ITAT ) of Mumbai while deleting the addition made by the assessing officer held that the Income Tax Department failed to controvert evidence...
![Failure to controvert evidence with respect to Sale against Advance amount received from Trade Creditors by ITD: ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-ITAT-deletes-addition-ITAT-sale-against-advance-TAXSCAN.jpg "Failure to controvert evidence with respect to Sale against Advance amount received from Trade Creditors by ITD: ITAT deletes addition [Read Order]")
Taxpayer submits ITRs and Bank statements for Proving Genuineness of Unsecured Loan: ITAT deletes addition u/s 68 [Read Order]
After the taxpayer presented Income Tax Returns ( ITRs ) and bank statements to demonstrate the authenticity of the unsecured loan, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT )...
![Taxpayer submits ITRs and Bank statements for Proving Genuineness of Unsecured Loan: ITAT deletes addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Ahmedabad-ITR-Income-Tax-Income-Tax-Return-Loan-Unsecured-Loan-taxscan.jpg "Taxpayer submits ITRs and Bank statements for Proving Genuineness of Unsecured Loan: ITAT deletes addition u/s 68 [Read Order]")
No addition shall be made u/s 68 of Income Tax Act, when Authenticity/Genuineness of Share Application Money received from various investors are fully explained: ITAT [Read Order]
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) ruled that addition under Section 68 of the Income Tax Act, 1961 should not be made, when authenticity/genuineness of share application money...
![No addition shall be made u/s 68 of Income Tax Act, when Authenticity/Genuineness of Share Application Money received from various investors are fully explained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Addition-TAXSCAN.jpg "No addition shall be made u/s 68 of Income Tax Act, when Authenticity/Genuineness of Share Application Money received from various investors are fully explained: ITAT [Read Order]")