![Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Delhi-ITAT-Income-Tax-Legitimate-fund-transfers-and-tax-implications-Balance-sheet-proof-for-Section-68-cases-Taxscan.jpg "Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]")
Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal( ITAT )has held that addition under section 68 is invalid when the creditworthiness of money was...
![Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Share-Capital-Directors-Shareholders-Directors-and-Shareholders-of-Company-ITAT-taxscan.jpg "Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]")
![ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ESOP-ESOP-Expenditure-Share-Capital-Capital-ESOP-Expenditure-Incurred-towards-Raising-Share-Capital-Revenue-Revenue-Expenditure-ITAT-taxscan.jpg "ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]")
![Addition of Share Premium and Share Capital u/s 68 of Income Tax Act cant be imposed by ignoring Evidences produced by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-Share-Premium-Share-Capital-Income-Tax-Act-imposed-ignoring-Evidences-produced-Assessee-ITAT-taxscan.jpg "Addition of Share Premium and Share Capital u/s 68 of Income Tax Act cant be imposed by ignoring Evidences produced by Assessee: ITAT [Read Order]")
![Issue of Share Capital through QIP with Qualified Institutional Buyers are Public Subscription: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Issue-of-Share-Capital-through-QIP-Share-Capital-Qualified-Institutional-Qualified-Institutional-buyers-Public-Subscription-ITAT-directs-Re-adjudication-ITAT-Re-adjudication-taxscan.jpg "Issue of Share Capital through QIP with Qualified Institutional Buyers are Public Subscription: ITAT directs Re-adjudication [Read Order]")
Addition made by AO in Respect of Share Capital without Considering Relevant Documents and Evidences: ITAT Deletes Addition [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made by the assessing officer in respect of share capital without considering the relevant documents and evidence by...
![Addition made by AO in Respect of Share Capital without Considering Relevant Documents and Evidences: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Upholds-Rejection-of-Claim-of-Exemption-of-Income-Tax-Act-due-to-Utilisation-of-Income-for-Religious-Expenses-More-than-Prescribed-Limit-TAXSCAN-1.jpg "Addition made by AO in Respect of Share Capital without Considering Relevant Documents and Evidences: ITAT Deletes Addition [Read Order]")
No Addition can be made on Unaccounted Share Capital when it already Taxed under Category of ‘Source of Income’ : ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that no addition can be made on any unaccounted share capital when it was already taxed under the category of ‘source of income’. ...
![No Addition can be made on Unaccounted Share Capital when it already Taxed under Category of ‘Source of Income’ : ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-Addition-Unaccounted-Share-Capital-Source-of-Income-Income-Tax-ITAT-taxscan.jpg "No Addition can be made on Unaccounted Share Capital when it already Taxed under Category of ‘Source of Income’ : ITAT [Read Order]")
Sale Proceeds of Land introduced as Share Capital in AOP taxable u/s 45(3): ITAT upholds Addition of Suo Motu Offering for Tax [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, while upholding the addition of suo motu offering for tax, held that sale proceeds of land introduced...
![Sale Proceeds of Land introduced as Share Capital in AOP taxable u/s 45(3): ITAT upholds Addition of Suo Motu Offering for Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Sale-Proceeds-of-Land-Land-Share-Capital-AOP-taxable-ITAT-Suo-Motu-Offering-for-Tax-Suo-Motu-Tax-taxscan-.jpg "Sale Proceeds of Land introduced as Share Capital in AOP taxable u/s 45(3): ITAT upholds Addition of Suo Motu Offering for Tax [Read Order]")
Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the addition of unverified share capital without incriminating material is not sustainable u/s 153 of Income Tax Act 1961. A...
![Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Unverified-share-capital-material-ITAT-taxscan.jpg "Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]")
Section 68 has No Application if Share Capital/Premium/Application money was not Received in the Relevant FY: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal has held that Section 68 has no application if share capital/premium/application money was not received in the relevant Financial Year. A search...
![Section 68 has No Application if Share Capital/Premium/Application money was not Received in the Relevant FY: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Section-68-has-No-Application-Share-Capital-Premium-Application-money-Relevant-FY-ITAT-Taxscan.jpeg "Section 68 has No Application if Share Capital/Premium/Application money was not Received in the Relevant FY: ITAT [Read Order]")
Assessee discharged it onus to prove all Shareholders were Corporate entities, duly assessed to Tax but Income Tax Dept. failed to Rebut: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the assessee discharged its onus to prove all shareholders were corporate entities, duly assessed to tax but Income Tax Department...
![Assessee discharged it onus to prove all Shareholders were Corporate entities, duly assessed to Tax but Income Tax Dept. failed to Rebut: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Assessee-onus-shareholders-corporate-entities-tax-Income-Tax-Department-ITAT-Rebut-Taxscan.jpeg "Assessee discharged it onus to prove all Shareholders were Corporate entities, duly assessed to Tax but Income Tax Dept. failed to Rebut: ITAT [Read Order]")
Additions towards share capital in question would not ipso facto tantamount to alleged concealment of income: ITAT deletes penalty
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench while deleting the penalty held that the Additions towards share capital in question would not be ipso facto tantamount to alleged...
