![Relief to Raw Pressery: ITAT sets aside Addition of Rupees 115 Cr [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Relief-to-Raw-Pressery-ITAT-taxscan.jpg "Relief to Raw Pressery: ITAT sets aside Addition of Rupees 115 Cr [Read Order]")
Relief to Raw Pressery: ITAT sets aside Addition of Rupees 115 Cr [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai granted relief to Raw Pressery Private Limited thereby setting aside an addition of Rupees 115...
![Assessment not to Exceed the Scope of Prescribed ‘Limited’ Scrutiny, Except as per the Due Process of Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Assessment-Scrutiny-Law-ITAT-taxscan.jpeg "Assessment not to Exceed the Scope of Prescribed ‘Limited’ Scrutiny, Except as per the Due Process of Law: ITAT [Read Order]")
![Addition u/s 68 on Assessee Company not sustainable when the onus was discharged with sufficient evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Addition-assessee-sufficient-evidence-ITAT-taxscan.jpeg "Addition u/s 68 on Assessee Company not sustainable when the onus was discharged with sufficient evidence: ITAT [Read Order]")
![Addition u/s 68 on Scrap Sale will invalidate Corresponding Sales and relevant Expenditure charged to Profit and Loss A/c: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Addition-Scrap-Sale-Profit-and-Loss-ITAT-TAXSCAN.jpg "Addition u/s 68 on Scrap Sale will invalidate Corresponding Sales and relevant Expenditure charged to Profit and Loss A/c: ITAT [Read Order]")
![Unsecured Loans taken through Banking Channels from Directors / Shareholders: ITAT upholds Deletion of Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Unsecured-Loans-Banking-Shareholders-ITAT-taxscan.jpg "Unsecured Loans taken through Banking Channels from Directors / Shareholders: ITAT upholds Deletion of Addition u/s 68 [Read Order]")
No Deeming Provision stands when Source of Income explained with Corroborative Evidence: ITAT sets aside Revisional Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chandigarh bench has held that no deeming provision can be invoked when the source of the income was explained with the corroborative evidence and set aside...
![No Deeming Provision stands when Source of Income explained with Corroborative Evidence: ITAT sets aside Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/No-deeming-provision-source-of-income-corroborative-evidence-ITAT-revisional-order-taxscan.jpg "No Deeming Provision stands when Source of Income explained with Corroborative Evidence: ITAT sets aside Revisional Order [Read Order]")
Addition of Unexplained Cash Credit not sustained when Creditworthiness and genuineness of Transaction proven: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that the addition of unexplained cash credit does not sustain when the creditworthiness and genuineness of the transaction are...
![Addition of Unexplained Cash Credit not sustained when Creditworthiness and genuineness of Transaction proven: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/cash-credit-transaction-ITAT-taxscan.jpg "Addition of Unexplained Cash Credit not sustained when Creditworthiness and genuineness of Transaction proven: ITAT [Read Order]")
Suppression in Net Sales assessable as 'Business Income', can’t be treated as Deemed Income u/s 68: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the income surrendered for suppression in the net sales shall be assessable as “Income from Business or Profession” and the same...
![Suppression in Net Sales assessable as Business Income, can’t be treated as Deemed Income u/s 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Suppression-Net-Sales-assessable-Business-Income-treated-Deemed-Income-ITAT-Taxscan.jpeg "Suppression in Net Sales assessable as Business Income, can’t be treated as Deemed Income u/s 68: ITAT [Read Order]")
Once Bogus Purchase is Sold, Section 68 cannot be invoked to Tax the entire Amount: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that once bogus purchase is sold than the entire amount cannot be added under section 68 of the Income Tax Act, 1961....
![Once Bogus Purchase is Sold, Section 68 cannot be invoked to Tax the entire Amount: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/07/Bogus-Purchase-ITAT-Taxscan.jpg "Once Bogus Purchase is Sold, Section 68 cannot be invoked to Tax the entire Amount: ITAT [Read Order]")
Delhi High Court stays Faceless Assessment Order, directs to allow Personal Hearing to Assessee [Read Order]
The Delhi High Court while staying the recovery proceedings against disputed tax demand and initiation of penalty proceedings held that prima facie Assessee to be heard Before passing Assessment...
![Delhi High Court stays Faceless Assessment Order, directs to allow Personal Hearing to Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Delhi-High-Court-Faceless-Assessment-Order-Personal-Hearing-Taxscan.jpg "Delhi High Court stays Faceless Assessment Order, directs to allow Personal Hearing to Assessee [Read Order]")
![Deposit of Business Income of Wife in Joint Bank A/c can’t attract Addition u/s 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/03/site-image3-6-5-1.jpg "Deposit of Business Income of Wife in Joint Bank A/c can’t attract Addition u/s 68: ITAT [Read Order]")
Tax Authorities should consider Documentary Evidence before confirming Addition for Cash Credits: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) has held that though the onus is cast upon the assessee to prove the cash credits received by it, the tax authorities shall consider all the documentary...
![Tax Authorities should consider Documentary Evidence before confirming Addition for Cash Credits: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Cash-Credits-Taxscan.jpg "Tax Authorities should consider Documentary Evidence before confirming Addition for Cash Credits: ITAT [Read Order]")