![Sale Proceed of Agricultural Produce without Invoice cannot be Doubted: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Sale-Proceed-Agricultural-Produce-Invoice-Doubted-ITAT-TAXSCAN.jpg "Sale Proceed of Agricultural Produce without Invoice cannot be Doubted: ITAT [Read Order]")
Sale Proceed of Agricultural Produce without Invoice cannot be Doubted: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) chaired by Saktijit Dey (Judicial Member) deleted the addition sustained by the Commissioner...
![Generation of Business Income Not Necessary to Claim Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Generation-of-Business-Income-Business-Income-Business-Expenditure-ITAT-taxscan.jpg "Generation of Business Income Not Necessary to Claim Business Expenditure: ITAT [Read Order]")
![ITAT deletes Income Tax Addition u/s 68 When Assessee submitted Corroborative Evidence related to Creditors [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-deletes-Income-Tax-Addition-ITAT-Income-Tax-Addition-Income-Tax-Corroborative-Evidence-Creditors-Assessee-Taxscan.jpg "ITAT deletes Income Tax Addition u/s 68 When Assessee submitted Corroborative Evidence related to Creditors [Read Order]")
![Receipt of Money through Banking Channel would not Make Transaction Genuine If Transaction is Not Explained with Documents: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Receipt-of-Money-Banking-Channel-Transaction-Documents-ITAT-Taxscan.jpg "Receipt of Money through Banking Channel would not Make Transaction Genuine If Transaction is Not Explained with Documents: ITAT [Read Order]")
Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income Tax Addition [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the condition of proving “source of source of funds” under 68 of the Income Tax Act,1961 does not apply to non-residents....
![Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Source-of-Funds-Non-Residents-ITAT-Income-Addition-taxscan.jpg "Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income Tax Addition [Read Order]")
Addition based on Unexplained Deposit becomes valid when Three conditions required u/s 68 not proved: Allahabad HC [Read Order]
The Allahabad High Court (HC) has held that an Addition based on an unexplained deposit becomes valid when Three conditions required under section 68 of the Income Tax Act,1961 are not proved. ...
![Addition based on Unexplained Deposit becomes valid when Three conditions required u/s 68 not proved: Allahabad HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Deposit-Allahabad-High-Court-taxscan.jpg "Addition based on Unexplained Deposit becomes valid when Three conditions required u/s 68 not proved: Allahabad HC [Read Order]")
No Addition u/s 68 can be Made When No Fresh Receipt of Money During the Year under Consideration: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench, has recently in an appeal filed before it, held that no addition u/s 68, can be made when there is no fresh receipt of money during the year...
![No Addition u/s 68 can be Made When No Fresh Receipt of Money During the Year under Consideration: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Money-Consideration-ITAT-taxscan.jpg "No Addition u/s 68 can be Made When No Fresh Receipt of Money During the Year under Consideration: ITAT [Read Order]")
Every Deposit during Demonetization period Not amounts to Unaccounted Cash, Addition u/s 68 not allowable: ITAT [Read Order]
Every deposit during demonetization period Not amounts to unaccounted cash , the Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition u/s 68 not allowable The...
![Every Deposit during Demonetization period Not amounts to Unaccounted Cash, Addition u/s 68 not allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Deposit-Demonetisation-Unaccounted-Cash-ITAT-taxscan.jpg "Every Deposit during Demonetization period Not amounts to Unaccounted Cash, Addition u/s 68 not allowable: ITAT [Read Order]")
'Purchase on Credit' included within the Meaning of 'Unexplained Cash Credit' u/s 68 of Income Tax Act: ITAT [Read Order]
While allowing a departmental appeal, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the term “purchase on credit” shall be included within the meaning of “unexplained...
![Purchase on Credit included within the Meaning of Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Credit-Unexplained-Cash-Credit-Income-Tax-Act-ITAT-taxscan.jpg "Purchase on Credit included within the Meaning of Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]")
Right to Appeal against Addition or Disallowance to Returned Income not Vitiated by Non-Compliance to Notices: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that right to appeal against addition or disallowance to returned income not vitiated by non...
![Right to Appeal against Addition or Disallowance to Returned Income not Vitiated by Non-Compliance to Notices: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Appeal-Returned-Income-Notices-ITAT-taxscan.jpg "Right to Appeal against Addition or Disallowance to Returned Income not Vitiated by Non-Compliance to Notices: ITAT [Read Order]")
Monetary Limit of Rs. 50 Lakhs not applicable to Notice u/s 148 unless Time Barred: Delhi HC dismisses Writ Petition by Assessee [Read Order]
In a recent decision of a Division Bench of the Delhi HIgh Court, it was held in favour of the Income Tax Department that, a notice served to the assessee under Section 148 of the Income Tax Act,...
![Monetary Limit of Rs. 50 Lakhs not applicable to Notice u/s 148 unless Time Barred: Delhi HC dismisses Writ Petition by Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Monetary-Limit-Notice-Delhi-HC-dismisses-Assessee-TAXSCAN.jpg "Monetary Limit of Rs. 50 Lakhs not applicable to Notice u/s 148 unless Time Barred: Delhi HC dismisses Writ Petition by Assessee [Read Order]")