![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]")
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...
![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]](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]](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]")
![Addition made by Dept is Invalid in view of Quashing of Penalty Proceedings: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/02/Directing-Penalty-Supreme-Court-Taxscan.jpg "Addition made by Dept is Invalid in view of Quashing of Penalty Proceedings: SC [Read Judgment]")
![No Addition on Share Premium If Shares were allotted under a Barter System: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/Share-Premium-ITAT-Taxscan.jpg "No Addition on Share Premium If Shares were allotted under a Barter System: ITAT [Read Order]")
![Addition for Unexplained Cash Credit can’t be merely on Suspicion: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Unexplained-Cash-Credit.jpg "Addition for Unexplained Cash Credit can’t be merely on Suspicion: ITAT [Read Order]")
Genuineness of Share Application Money can’t be suspected without Proper Inquiry: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the genuineness of the share application money cannot be suspected without a proper inquiry by the Assessing Officer. In the...
![Genuineness of Share Application Money can’t be suspected without Proper Inquiry: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/03/site-image3-7-5.jpg "Genuineness of Share Application Money can’t be suspected without Proper Inquiry: ITAT [Read Order]")
Creditworthiness can be Ascertained only from Availability of Funds and not from Period of Existence and Revenue Earning: Delhi HC upholds Deletion of Addition u/s 68 [Read Order]
The Delhi Bench of High court has upheld the deletion of addition under Section 68 of Income Tax ACT 1961 holding that creditworthiness could be ascertained only from availability of funds and not...
![Creditworthiness can be Ascertained only from Availability of Funds and not from Period of Existence and Revenue Earning: Delhi HC upholds Deletion of Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Creditworthiness-Ascertained-only-from-Availability-of-Funds-Period-of-Existence-and-Revenue-Earning-Delhi-HC-upholds-Deletion-of-Addition-TAXSCAN.jpg "Creditworthiness can be Ascertained only from Availability of Funds and not from Period of Existence and Revenue Earning: Delhi HC upholds Deletion of Addition u/s 68 [Read Order]")
ITAT Upholds Deletion of Additions Made on Account of Share Application/Capital Received as Unexplained Cash Credits u/s 68 Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), upheld the deletion of additions made on account of share application or capital received as unexplained cash credits under Section 68 of the Income Tax Act...
![ITAT Upholds Deletion of Additions Made on Account of Share Application/Capital Received as Unexplained Cash Credits u/s 68 Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/ITAT-Upholds-Deletion-of-Additions-ITAT-Share-Application-Capital-Share-Capital-Unexplained-Cash-Credits-Income-Tax-Act-ITAT-Upholds-Deletion-Additions-Made-on-Account-of-Share-Application-Taxscan.jpg "ITAT Upholds Deletion of Additions Made on Account of Share Application/Capital Received as Unexplained Cash Credits u/s 68 Income Tax Act [Read Order]")