![Failure to Prove Creditworthiness of Parties and Genuineness of Transaction :ITAT Upholds Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Creditworthiness-of-Parties-and-Genuineness-of-Transaction-Genuineness-of-Transaction-ITAT-Upholds-Addition-ITAT-Addition-Taxscan.jpg "Failure to Prove Creditworthiness of Parties and Genuineness of Transaction :ITAT Upholds Addition u/s 68 [Read Order]")
Failure to Prove Creditworthiness of Parties and Genuineness of Transaction :ITAT Upholds Addition u/s 68 [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has upheld addition under Section 68 of the Income Tax Act 1961 on failure to prove the...
![Notice Received via Email Despite Form No. 35 Request for Physical Service of Notice: ITAT sets aside Ex-Parte Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/EMAIL-NOTICES-ITAT-Notice-Received-via-Email-Despite-TAXSCAN.jpg "Notice Received via Email Despite Form No. 35 Request for Physical Service of Notice: ITAT sets aside Ex-Parte Order [Read Order]")
![Mere Furnishing of Income Tax Returns and Bank Statements without any Explanation for Deposits not Meet Requirements of S. 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Furnishing-of-Income-Tax-Returns-Income-Tax-Returns-Income-Tax-Bank-Statements-Deposits-ITAT-Taxscan.jpg "Mere Furnishing of Income Tax Returns and Bank Statements without any Explanation for Deposits not Meet Requirements of S. 68: ITAT [Read Order]")
![Addition made by AO u/s 68 of IT Act could not made in Absence of any Incriminating Material: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/IT-Act-could-not-made-Absence-of-any-Incriminating-Material-ITAT-TAXSCAN.jpg "Addition made by AO u/s 68 of IT Act could not made in Absence of any Incriminating Material: ITAT quashes Order [Read Order]")
![AO not bound to Make Enquiry unless Assessee has Discharged Initial Onus u/s 68: ITAT Upholds Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/AO-not-bound-to-Make-Enquiry-unless-Assessee-has-Discharged-Initial-Onus-us-68-ITAT-Upholds-Addition-TAXSCAN.jpg "AO not bound to Make Enquiry unless Assessee has Discharged Initial Onus u/s 68: ITAT Upholds Addition [Read Order]")
Failure to Prove Authenticity of Loan Transactions: ITAT holds Unsecured Loans as Unexplained Cash Credits u/s 68 of Income Tax Act
The Raipur bench of Income Tax Appellate Tribunal (ITAT) has recently upheld the decision of the lower authority held that unsecured loans are unexplained cash credits under Section 68 of Income Tax...
ITAT quashes Assessment Order Due to Lack of Opportunity given to be Heard to Assessee u/s 144A [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) recently quashed the assessment order passed under Section 144A of the Income Tax Act due to lack Opportunity to be heard for assessee. ...
![ITAT quashes Assessment Order Due to Lack of Opportunity given to be Heard to Assessee u/s 144A [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-quashes-Assessment-Order-ITAT-Assessment-Order-Heard-to-Assessee-taxscan.jpg "ITAT quashes Assessment Order Due to Lack of Opportunity given to be Heard to Assessee u/s 144A [Read Order]")
No Addition on Unaccounted Income on Inclusion of Sale of Jewellery as LTCG in ROI: ITAT quashes Assessment Order and Penalty [Read Order]
The Delhi bench of Income tax appellate tribunal (ITAT) quashed the assessment order and penalty which was passed by Deputy Commissioner of Income Tax (DCIT) and held that No addition could be made...
![No Addition on Unaccounted Income on Inclusion of Sale of Jewellery as LTCG in ROI: ITAT quashes Assessment Order and Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-Addition-on-Unaccounted-Income-No-Addition-Unaccounted-Income-Income-Inclusion-of-Sale-of-Jewellery-LTCG-ROI-ITAT-quashes-Assessment-Order-and-Penalty-taxscan.jpg "No Addition on Unaccounted Income on Inclusion of Sale of Jewellery as LTCG in ROI: ITAT quashes Assessment Order and Penalty [Read Order]")
Section 115BBE not applicable to Undisclosed Assets Deposited in Bank Post-Demonetization when Assets found in premises prior to Demonetization: ITAT
The Surat Bench of Income Tax Appellate Tribunal (ITAT) has held that Section 115BBE of the Income Tax Act 1961 would not be applicable as the undisclosed assets deposited in the bank accounts in the...
![No Addition can be made on Unexplained Cash Credit from Sale and Purchase of Shares: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Addition-can-be-made-on-Unexplained-Cash-Credit-Sale-and-Purchase-of-Shares-ITAT-TAXSCAN.jpg "No Addition can be made on Unexplained Cash Credit from Sale and Purchase of Shares: ITAT [Read Order]")
Addition made on Loan Amount u/s 68 of Act are based on Utter Suspicion and Conjectures: ITAT deletes Addition [Read Order]
The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that additions made on loan amount under Section 68 of the Income Tax Act 1961 are based on uttar suspicion and...
![Addition made on Loan Amount u/s 68 of Act are based on Utter Suspicion and Conjectures: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Addition-made-on-Loan-Amount-ITAT-deletes-Addition-Addition-Loan-Amount-Utter-Suspicion-Utter-Suspicion-and-Conjectures-Conjectures-ITAT-Income-tax-taxscan.jpg "Addition made on Loan Amount u/s 68 of Act are based on Utter Suspicion and Conjectures: ITAT deletes Addition [Read Order]")
Information relied upon by AO does not have any bearing to Search Conducted: ITAT deletes S. 153C Addition [Read Order]
The Mumbai Income Tax Appellate Tribunal (ITAT)has recently while deleting additions made under section 153C of Income Tax Act 1961 observed that Information relied upon by the assessing officer did...
![Information relied upon by AO does not have any bearing to Search Conducted: ITAT deletes S. 153C Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Information-AO-Search-Conducted-ITAT-TAXSCAN.jpg "Information relied upon by AO does not have any bearing to Search Conducted: ITAT deletes S. 153C Addition [Read Order]")