![Addition u/s 68 cant be made in respect of receipt of Gift evident through Credit Entries in Bank Passbook: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/Credit-Entries-Taxscan.jpg "Addition u/s 68 cant be made in respect of receipt of Gift evident through Credit Entries in Bank Passbook: ITAT [Read Order]")
Addition u/s 68 can't be made in respect of receipt of Gift evident through Credit Entries in Bank Passbook: ITAT [Read Order]
While hearing the case of Nanoomal Gupta versus ACIT-Central Circle, Agra bench of Income Tax Appellate Tribunal ( ITAT ) ruled that addition on...
![Receipt from Sale of Shares held in DMAT A/c through Recognized Stock Exchange which is evident through Contract Note can’t be treated as Unexplained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Stock-Exchange-Taxscan.jpg "Receipt from Sale of Shares held in DMAT A/c through Recognized Stock Exchange which is evident through Contract Note can’t be treated as Unexplained: ITAT [Read Order]")
![CBDT lays down Standard Procedure for invoking provisions relating to Unexplained Cash Credit [Read Circular]](https://www.taxscan.in/wp-content/uploads/2018/01/Unexplained-Cash-Credit.jpg "CBDT lays down Standard Procedure for invoking provisions relating to Unexplained Cash Credit [Read Circular]")
![Share Application Money can’t be treated as Unexplained If AO doesn’t make any Investigation on Documentary Evidences filed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Share-Application-Money-Taxscan.jpg "Share Application Money can’t be treated as Unexplained If AO doesn’t make any Investigation on Documentary Evidences filed: ITAT [Read Order]")
Amount Received by Assessee from Firm as a beneficiary can’t be treated as ‘Unexplained’: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that amounts received by the assessee from the firm as a beneficiary cannot be treated as unexplained for the purpose of...
![Amount Received by Assessee from Firm as a beneficiary can’t be treated as ‘Unexplained’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Cash-Transaction-Limit.jpg "Amount Received by Assessee from Firm as a beneficiary can’t be treated as ‘Unexplained’: ITAT [Read Order]")
![ITAT upholds Addition of 4.99 Lakhs as ‘Unexplained Cash‘ against Muthoot Group MD [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/George-Alexander-Muthoot-MD-Taxscan.jpg "ITAT upholds Addition of 4.99 Lakhs as ‘Unexplained Cash‘ against Muthoot Group MD [Read Order]")
Share Transactions can’t be deemed as Unaccounted If it is evident through DMAT Account and Contract Notes: ITAT [Read Order]
The Mumbai bench of ITAT while dismissing the appeal of the revenue held that share transactions cannot be deemed as unaccounted for the purpose of section 68 of the Income Tax Act, 1961, if DMAT...
![Share Transactions can’t be deemed as Unaccounted If it is evident through DMAT Account and Contract Notes: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Share-Trading.jpg "Share Transactions can’t be deemed as Unaccounted If it is evident through DMAT Account and Contract Notes: ITAT [Read Order]")
Advance received for Car Booking without Invoice cannot be treated as Unexplained Cash Credit: ITAT [Read Order]
A division bench of the Kolkata ITAT, recently ruled that the advance amount received by a car dealer for booking by customers without invoice cannot be treated as unexplained cash credit under...
![Advance received for Car Booking without Invoice cannot be treated as Unexplained Cash Credit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/Car-Booking-Taxscan.jpg "Advance received for Car Booking without Invoice cannot be treated as Unexplained Cash Credit: ITAT [Read Order]")
Defense of Peak Credit cannot be taken where deposits remain unexplained u/s 68 of the Income Tax Act: Delhi HC [Read Order]
Justices S Muralidhar and Prathiba M Singh, in a recent ruling, held that the assesse cannot take a defence of peak credit theory when the deposits remain unexplained under Section 68 of the Income...
![Defense of Peak Credit cannot be taken where deposits remain unexplained u/s 68 of the Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Delhi-High-Court-Tax-Scan-1.jpg "Defense of Peak Credit cannot be taken where deposits remain unexplained u/s 68 of the Income Tax Act: Delhi HC [Read Order]")
Share Transaction cannot be treated as Bogus when Assessee produced all Relevant Documents but Parties are not Traceable: Bombay HC [Read Judgment]
In CIT v. M/s. Orchid Industries Pvt. Ltd, a division bench of the Bombay High Court held that share transactions cannot be treated as bogus under section 68 of the Income Tax Act when Assessee...
![Share Transaction cannot be treated as Bogus when Assessee produced all Relevant Documents but Parties are not Traceable: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Share Transaction cannot be treated as Bogus when Assessee produced all Relevant Documents but Parties are not Traceable: Bombay HC [Read Judgment]")
![Protective Assessment cannot be made without a Substantive Assessment: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/Assessing-officer-Tax-Scan.jpg "Protective Assessment cannot be made without a Substantive Assessment: ITAT Delhi [Read Order]")