![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]")
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...
![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]](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]](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]](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]")
![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]")
Assessment not to Exceed the Scope of Prescribed ‘Limited’ Scrutiny, Except as per the Due Process of Law: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Pune has recently while allowing an appeal filed before it, held that the assessment shall not exceed the scope of prescribed limited scrutiny, except as...
![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]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench held that addition under section 68 of the Income Tax Act,1961 on the assessee company is not sustainable when the onus was discharged with...
![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]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has held that addiction under section 68 of the Income Tax Act,1961on scrap sale will invalidate the corresponding sales and relevant...
![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]
The Income Tax Appellate Tribunal (ITAT), Mumbai has held that unsecured loans are taken through banking channels from Directors / Shareholders and upholds deletion of addition under section 68 of...
![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]")