![No Addition u/s 68 in Partnership Firm’s Hands if Credit is in Partner’s Capital Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Addition-Partnership-Firm-Capital-Account-ITAT-taxscan.jpeg "No Addition u/s 68 in Partnership Firm’s Hands if Credit is in Partner’s Capital Account: ITAT [Read Order]")
No Addition u/s 68 in Partnership Firm’s Hands if Credit is in Partner’s Capital Account: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) ruled that no addition is permissible under Section 68 of the Income Tax Act, 1961,...
![Cash Deposit Sources Insufficiently Verified before making Addition u/s 68 of Income Tax Act: ITAT Remands Matter Back to Assessing Officer for Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Cash-Deposit-Sources-Income-Tax-Act-ITAT-Assessing-Officer-Re-Adjudication-taxscan.jpeg "Cash Deposit Sources Insufficiently Verified before making Addition u/s 68 of Income Tax Act: ITAT Remands Matter Back to Assessing Officer for Re-Adjudication [Read Order]")
![Scrip cant be Penny Stock: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Scrip-Penny-Stock-ITAT-Income-Tax-Act-taxscan.jpg "Scrip cant be Penny Stock: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]")
![Supreme Court takes up Newsclicks Petition against Income Tax Demand, Issues Notice to Dept [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/07/Supreme-Court-Newsclick-Petition-Income-Tax-Demand-Issues-Notice-Dept-taxscan.jpg "Supreme Court takes up Newsclicks Petition against Income Tax Demand, Issues Notice to Dept [Read Judgement]")
Taxpayer discharges Burden to prove Identity, Creditworthiness and Genuineness of Loan Creditors: ITAT deletes Income Tax Addition of 1.17Cr u/s 68 [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of 1.17 crore under Section 68 of the Income Tax Act, 1961 as the taxpayer had discharged the burden to prove...
![Taxpayer discharges Burden to prove Identity, Creditworthiness and Genuineness of Loan Creditors: ITAT deletes Income Tax Addition of 1.17Cr u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-Tax-Income-Tax-Addition-Taxpayer-ITAT-mumbai-Section-68-of-the-Income-Tax-Act-taxscan.jpg "Taxpayer discharges Burden to prove Identity, Creditworthiness and Genuineness of Loan Creditors: ITAT deletes Income Tax Addition of 1.17Cr u/s 68 [Read Order]")
Assessee failed to Prove Entries of Credit against Addition section/s 68 of Income tax Act: ITAT allows Revenue Dept's Appeal [Read Order]
In a recent ruling, the Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) confirmed the addition made under Section 68 of the Income Tax Act, 1961 while allowing the revenue department’s...
![Assessee failed to Prove Entries of Credit against Addition section/s 68 of Income tax Act: ITAT allows Revenue Depts Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Assessee-Prove-Entries-Credit-against-Income-tax-Act-ITAT-Revenue-Depts-Appeal-taxscan.jpg "Assessee failed to Prove Entries of Credit against Addition section/s 68 of Income tax Act: ITAT allows Revenue Depts Appeal [Read Order]")
No addition is Permitted u/s 68 of Income Tax Act as Unsecured Loan when Cash Deposits in Bank A/c of Lender Firm is Accepted: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition made under Section 68 of the Income Tax Act, 1961 on unsecured loan obtained from a firm by the Assessee on the...
![No addition is Permitted u/s 68 of Income Tax Act as Unsecured Loan when Cash Deposits in Bank A/c of Lender Firm is Accepted: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Income-Tax-Act-Section-68-of-the-Income-Tax-Act-Income-Tax-Tax-news-Taxscan.jpg "No addition is Permitted u/s 68 of Income Tax Act as Unsecured Loan when Cash Deposits in Bank A/c of Lender Firm is Accepted: ITAT [Read Order]")
ITAT dismisses Appeal u/s 68 of Income Tax Act Due to Absence of Explanation for Transactions [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal under Section 68 of the Income Tax Act,1961 due to the absence of an explanation for the transactions. The...
![ITAT dismisses Appeal u/s 68 of Income Tax Act Due to Absence of Explanation for Transactions [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Income-tax-appellate-tribunal-income-tax-acts-Income-tax-sections-Section-68-TAXSCAN.jpg "ITAT dismisses Appeal u/s 68 of Income Tax Act Due to Absence of Explanation for Transactions [Read Order]")
Identity, Creditworthiness of Shares Subscribing Companies, Transaction Genuineness Proven: ITAT deletes addition of 40 Lakhs u/s 68 of Income Tax Act [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs. 40 lakhs under Section 68 of the Income Tax Act, 1961 as the identity, creditworthiness of the...
![Identity, Creditworthiness of Shares Subscribing Companies, Transaction Genuineness Proven: ITAT deletes addition of 40 Lakhs u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-ITAT-Kolkata-Income-Tax-Section-411-of-Income-Tax-Act-Trading-Liability-Due-Absence-of-Liability-in-Books-Taxscan-1.jpg "Identity, Creditworthiness of Shares Subscribing Companies, Transaction Genuineness Proven: ITAT deletes addition of 40 Lakhs u/s 68 of Income Tax Act [Read Order]")
![AO cannot Draw Adverse Inference on Non response of Directors to Notices: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/AO-Draw-Adverse-Inference-Non-response-Directors-Notices-Calcutta-HC-taxscan.jpg "AO cannot Draw Adverse Inference on Non response of Directors to Notices: Calcutta HC [Read Order]")