![Business Cash Deposits During Demonetization: ITAT Accepts Diwali Holiday Delay as Valid Explanation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Business-Cash-Deposits-Cash-Deposits-During-Demonetization-Demonetization-ITAT-ITAT-Accepts-Diwali-Holiday-Diwali-Holiday-Diwali-Holiday-Delay-taxscan.jpg "Business Cash Deposits During Demonetization: ITAT Accepts Diwali Holiday Delay as Valid Explanation [Read Order]")
Business Cash Deposits During Demonetization: ITAT Accepts Diwali Holiday Delay as Valid Explanation [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the delay in depositing business cash due to Laxmi Pooja and subsequent...
![ITAT finds Unsecured Loans from Related Party on Account of Takeover Genuine as Actual Transaction Happened [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-finds-Unsecured-Loans-Unsecured-Loans-Account-of-Takeover-Actual-Transaction-Transaction-Account-of-Takeover-Genuine-taxscan.jpg "ITAT finds Unsecured Loans from Related Party on Account of Takeover Genuine as Actual Transaction Happened [Read Order]")
![Genuineness of Transaction for increase in Share Capital inconsequential for Business: ITAT upholds Deletion of Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Share-Capital-ITAT-Income-tax-taxscan.jpg "Genuineness of Transaction for increase in Share Capital inconsequential for Business: ITAT upholds Deletion of Addition [Read Order]")
![Unsecured Loan Transaction Duly Substantiated: ITAT upholds Deletion of Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Unsecured-Loan-Transaction-Duly-Substantiated-Transaction-Duly-ITAT-ITAT-upholds-Deletion-ITAT-upholds-Deletion-of-Addition-taxscan.jpg "Unsecured Loan Transaction Duly Substantiated: ITAT upholds Deletion of Addition [Read Order]")
![Unexplained Cash Deposits of ₹14.53 Lakh: ITAT Deletes Addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Unexplained-Cash-Deposits-ITAT-Addition-us-68-of-Income-Tax-Act-TAXSCAN.jpg "Unexplained Cash Deposits of ₹14.53 Lakh: ITAT Deletes Addition u/s 68 of Income Tax Act [Read Order]")
'Source of Source' Requirement Restricted to Share Capital, Excludes Unsecured Loans and Applies Prospectively from AY 2023-24: ITAT [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) clarified that the obligation to explain the "source of source" under Section 68 of the Income Tax Act, 1961, is restricted to credits...
![Source of Source Requirement Restricted to Share Capital, Excludes Unsecured Loans and Applies Prospectively from AY 2023-24: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Source-of-Loan-Requirement-Restricted-Requirement-Restricted-to-Share-Capital-Share-Capital-Excludes-Unsecured-Loans-Applies-Prospectively-ITAT-taxscan.jpg "Source of Source Requirement Restricted to Share Capital, Excludes Unsecured Loans and Applies Prospectively from AY 2023-24: ITAT [Read Order]")
Genuineness of ₹2.06 Crore Share Capital Received: ITAT Upholds CIT(A) Decision, Deletes Addition u/s 68 [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner of Income Tax(Appeals)[CIT(A)] decision, confirming the genuineness of ₹2.06 crore share capital received, and...
![Genuineness of ₹2.06 Crore Share Capital Received: ITAT Upholds CIT(A) Decision, Deletes Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Genuineness-Share-Capital-Share-Capital-Received-ITAT-ITAT-Upholds-CITA-Decision-CITA-Deletes-Addition-taxscan.jpg "Genuineness of ₹2.06 Crore Share Capital Received: ITAT Upholds CIT(A) Decision, Deletes Addition u/s 68 [Read Order]")
![Ex-Parte Order Over Unexplained Income: ITAT Remands 1.41 Cr Tax Dispute to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/itat-itat-ahmedabad-CITA-Unexplained-Income-Taxscan.jpg "Ex-Parte Order Over Unexplained Income: ITAT Remands 1.41 Cr Tax Dispute to CIT(A) [Read Order]")
![Income Tax Annual Digest 2024: ITAT Cases [Part 31]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-Annual-Digest-2024-ITAT-Cases-Income-Tax-Cases-Part-31-taxscan.jpg "Income Tax Annual Digest 2024: ITAT Cases [Part 31]")
Nature and Source of Credit Satisfactorily Explained: ITAT directs AO to delete Additions u/s 68 [Read Order]
The Surat Bench of Income Tax Appellate Tribunal ( ITAT ) in Surat has directed the Assessing Officer ( AO ) to delete additions made under Section 68 of the Income Tax Act, 1961, in relation to a...
![Nature and Source of Credit Satisfactorily Explained: ITAT directs AO to delete Additions u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Nature-Source-of-Credit-Satisfactorily-Explained-ITAT-AO-taxscan.jpg "Nature and Source of Credit Satisfactorily Explained: ITAT directs AO to delete Additions u/s 68 [Read Order]")
![ITAT quashes Addition of Rs. 179 Cr, Holds Share of Profit from LLP is Exempt [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Share-of-Profit-LLP-Quashes-Addition-taxscan.jpg "ITAT quashes Addition of Rs. 179 Cr, Holds Share of Profit from LLP is Exempt [Read Order]")
ITAT deletes Addition on Alleged Bogus LTCG due to Procedural Lapses and Denial of Cross-Examination Rights [Read Order]
In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the additions related to alleged bogus Long-Term Capital Gains (LTCG) due to procedural lapses and...
![ITAT deletes Addition on Alleged Bogus LTCG due to Procedural Lapses and Denial of Cross-Examination Rights [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-alleged-Bogus-LTCG-procedural-lapses-denial-cross-examination-rights-taxscan.jpg "ITAT deletes Addition on Alleged Bogus LTCG due to Procedural Lapses and Denial of Cross-Examination Rights [Read Order]")