![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]")
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...
![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]](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]")
Mere Furnishing of Identity of Shareholders is not Sufficient to Discharge Onus u/s 68: Madras HC [Read Judgment]
In B.R Petrochem Pvt Ltd v. ITO, the division bench of the Madras High Court held that mere furnishing of identity of shareholders by the asseessee would not sufficient to discharge their onus under...
![Mere Furnishing of Identity of Shareholders is not Sufficient to Discharge Onus u/s 68: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/05/Shareholders.jpg "Mere Furnishing of Identity of Shareholders is not Sufficient to Discharge Onus u/s 68: Madras HC [Read Judgment]")
AO has No Power to Examine the Source of Source in Non-Share Capital Cases u/s 68 of Income Tax Act: ITAT Delhi [Read Order]
In CIT v. Prem Anand, the Delhi bench of the ITAT held that the Assessing Officer has no power to examine the source of source in non-share capital cases since the amendment in section 68 of the...
![AO has No Power to Examine the Source of Source in Non-Share Capital Cases u/s 68 of Income Tax Act: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/Assessing-officer-Tax-Scan.jpg "AO has No Power to Examine the Source of Source in Non-Share Capital Cases u/s 68 of Income Tax Act: ITAT Delhi [Read Order]")
Late Entry in Demat Pass Book cannot be a Sole Ground for Suspecting the Genuineness of Share Transaction: Allahabad HC
In Amita Bansal v. CIT, the division bench of the Allahabad High Court held that the genuineness of share purchase cannot be suspected merely on ground of Late Entry in the Demat pass book when there...
Bogus Share Capital cannot be assessed as Company’s Share Capital as Amendment to Sec 68 has no Retrospective Effect: Bombay HC [Read Judgment]
In CIT v. M/s. Gagandeep Infrastructure Pvt.Ltd, the division bench of the Bombay High Court held that the amendment to s. 68 requiring explanation for source of Share capital/premium has prospective...
![Bogus Share Capital cannot be assessed as Company’s Share Capital as Amendment to Sec 68 has no Retrospective Effect: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/07/Shares-TaxScan.jpg "Bogus Share Capital cannot be assessed as Company’s Share Capital as Amendment to Sec 68 has no Retrospective Effect: Bombay HC [Read Judgment]")
Provisions relating to Unexplained Cash Credit u/s 68 are Applicable to Share Capital/ Premium even before the amendment in 2012: ITAT Kolkata [Read Order]
In M/s. Classic Flour & Food Processing Pvt Ltd v. CIT, the division bench of the Income Tax Appellate Tribunal (ITAT), Kolkata held that the provisions of section 68 of the Income Tax Act...
![ITAT Dismisses Scan Ispats Appeal as Withdrawn Under Vivad Se Vishwas Scheme [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/ITAT-ITAT-Dismisses-Scan-Ispats-Appea-Scan-Ispats-Appeal-taxscan.jpg "ITAT Dismisses Scan Ispats Appeal as Withdrawn Under Vivad Se Vishwas Scheme [Read Order]")
Genuineness of Business Transaction Affirmed: ITAT Deletes Rs. 4.90 Lakh Addition for Director's Loan [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has set aside an addition of Rs. 4.90 lakh made under Section 68 of the Income Tax Act, 1961, and affirmed the genuineness of a business...
![Genuineness of Business Transaction Affirmed: ITAT Deletes Rs. 4.90 Lakh Addition for Directors Loan [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/ITAT-Delhi-ITAT-Unexplained-Cash-Unexplained-Cash-Credits-Taxscan-1.jpg "Genuineness of Business Transaction Affirmed: ITAT Deletes Rs. 4.90 Lakh Addition for Directors Loan [Read Order]")