![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]")
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...
![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]](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]](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]](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]")
![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]")
Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) ruled that share capital received from directors and shareholders of the company was duly discharged with evidence . Therefore the bench ...
![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]
Hyderabad Bench of Income Tax Appellate Tribunal ( ITAT ), directed readjudication on accounts of addition made under excess receipts from contracts works. The bench during the adjudication observed...
![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]
In a significant ruling the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the invocation of under Section 68 of the Income Tax Act, 1961, due to the failure to explain the amount...
![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]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed an appeal, emphasizing that the mere disclosure of addresses and identities of shareholders was not sufficient under section 68...
![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]")