![ITAT deletes addition u/s 68 of Income Tax Act on Submission of Requisite Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Submission-of-Requisite-Documents-taxscan.jpg "ITAT deletes addition u/s 68 of Income Tax Act on Submission of Requisite Documents [Read Order]")
ITAT deletes addition u/s 68 of Income Tax Act on Submission of Requisite Documents [Read Order]
In a major ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under section 68 of the Income Tax Act, 1961...
![Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Share-Capital-Directors-Shareholders-Directors-and-Shareholders-of-Company-ITAT-taxscan.jpg "Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]")
![ITAT directs readjudication on accounts addition made under Excess Receipts from Contract Works [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Income-Tax-ITAT-Hyderabad-Excess-receipts-Contract-Works-Receipts-from-Contract-Work-taxscan.jpg "ITAT directs readjudication on accounts addition made under Excess Receipts from Contract Works [Read Order]")
![Failure to explain amount found credited in Books: ITAT upholds Invocation u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Mumbai-Income-Tax-Explanation-failure-credited-amount-taxscan.jpg "Failure to explain amount found credited in Books: ITAT upholds Invocation u/s 68 of Income Tax Act [Read Order]")
![Disclosure of Address and Identity of Shareholders not Sufficient u/s 68 of Income Tax: ITAT Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Delhi-Income-Tax-Tax-news-identity-of-shareholders-taxscan.jpg "Disclosure of Address and Identity of Shareholders not Sufficient u/s 68 of Income Tax: ITAT Dismisses Appeal [Read Order]")
No Violation of Principle of Natural Justice on Income Tax addition made u/s 68 of Income Tax Act: Kerala HC directs to File Statutory Appeal [Read Order]
The Kerala High Court was directed to file a statutory appeal against the Income Tax Addition under section 68 of the Income Tax Act, 1961 was made in violation of the principle of Natural...
![No Violation of Principle of Natural Justice on Income Tax addition made u/s 68 of Income Tax Act: Kerala HC directs to File Statutory Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/ITAT-sets-aside-Income-Tax-Addition-Statutory-Appeal-kerala-high-court-natural-justice-TAXSCAN.jpg "No Violation of Principle of Natural Justice on Income Tax addition made u/s 68 of Income Tax Act: Kerala HC directs to File Statutory Appeal [Read Order]")
Charging High Premium not correct Test for making Addition u/s 68 of Income Tax Act: Delhi HC [Read Order]
The Delhi High Court recently ruled that charging high premium not correct test for making addition under Section 68 of the Income Tax Act, 1961. By this appeal, the appellant/revenue sought to...
![Charging High Premium not correct Test for making Addition u/s 68 of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Charging-High-Premium-correct-Test-for-making-Addition-Test-for-making-Addition-High-Premium-Income-Tax-Act-Delhi-High-Court-making-Addition-correct-Test-Tax-News-TAXSCAN.jpg "Charging High Premium not correct Test for making Addition u/s 68 of Income Tax Act: Delhi HC [Read Order]")
Non-issuance of Show Cause Notice as to Dissatisfaction on Insufficient Evidence is a Sufficient Cause preventing from Filing Additional Evidence: ITAT directs Re-adjudication [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has directed re-adjudication as non-issuance of show cause notice as to dissatisfaction on insufficient evidence was a sufficient cause...
![Non-issuance of Show Cause Notice as to Dissatisfaction on Insufficient Evidence is a Sufficient Cause preventing from Filing Additional Evidence: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Show-Cause-Notice-Dissatisfaction-Insufficient-Evidence-Filing-Additional-Evidence-ITAT-Re-adjudication-taxscan.jpg "Non-issuance of Show Cause Notice as to Dissatisfaction on Insufficient Evidence is a Sufficient Cause preventing from Filing Additional Evidence: ITAT directs Re-adjudication [Read Order]")
No Addition shall be made u/s 68 of Income Tax Act when creditworthiness of Loan provider through Banking Channel satisfactorily explained: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Surat bench, held that an addition shall not be made under section 68 of the Income Tax Act, 1961 when the creditworthiness of the loan provider through the...
![No Addition shall be made u/s 68 of Income Tax Act when creditworthiness of Loan provider through Banking Channel satisfactorily explained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/addition-Income-Tax-Act-creditworthiness-of-loan-provider-banking-channel-satisfactorily-explained-ITAT-taxscan.jpg "No Addition shall be made u/s 68 of Income Tax Act when creditworthiness of Loan provider through Banking Channel satisfactorily explained: ITAT [Read Order]")
Addition u/s 68 of Income Tax Act can be made for Cash Credits Received by Assessee in its Account during the year Relevant to AY: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) held that additions under Section 68 of Income Tax Act,1961 would be made for the cash credits received by an assessee in its accounts during...
![Addition u/s 68 of Income Tax Act can be made for Cash Credits Received by Assessee in its Account during the year Relevant to AY: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-Income-Tax-Act-Cash-Credits-Assessee-Account-year-Relevant-AY-ITAT-TAXSCAN.jpg "Addition u/s 68 of Income Tax Act can be made for Cash Credits Received by Assessee in its Account during the year Relevant to AY: ITAT [Read Order]")
No Income Tax Addition can be made u/s 68 of Income Tax Act if AO Assessed the Agricultural Income Excluding Leased Land, and not in Accordance with Previous AY: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT), held that no income tax addition can be made under section 68 of Income Tax Act if Assessing Officer (AO) excluded leased land while assessing...
![No Income Tax Addition can be made u/s 68 of Income Tax Act if AO Assessed the Agricultural Income Excluding Leased Land, and not in Accordance with Previous AY: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-Income-Tax-Addition-Income-Tax-Act-AO-Assessed-Agricultural-Income-Land-Accordance-AY-ITAT-TAXSCAN.jpg "No Income Tax Addition can be made u/s 68 of Income Tax Act if AO Assessed the Agricultural Income Excluding Leased Land, and not in Accordance with Previous AY: ITAT [Read Order]")