![Unexplained Cash Credits of Rs. 12.83 Crores Added u/s 68: ITAT Upholds CIT(A)s Deletion [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-Unexplained-Cash-Credits-CITA-Commissioner-of-Income-TaxAppeals-taxscan.jpg "Unexplained Cash Credits of Rs. 12.83 Crores Added u/s 68: ITAT Upholds CIT(A)s Deletion [Read Order]")
Unexplained Cash Credits of Rs. 12.83 Crores Added u/s 68: ITAT Upholds CIT(A)'s Deletion [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the decision of the Commissioner of Income Tax(Appeals) [ CIT(A) ] in deleting...
![No Incriminating Evidence Found in Search, Unexplained Cash Credit Declared Invalid: ITAT upholds CIT (A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-Commissioner-of-Income-Tax-Cash-Credit-Unexplained-Cash-Credit-TAXSCAN.jpg "No Incriminating Evidence Found in Search, Unexplained Cash Credit Declared Invalid: ITAT upholds CIT (A) Order [Read Order]")
![Proper Adjudication and Verification needed for Addition of Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Income-Tax-Section-68-Income-Tax-Act-Assessing-Officer-unexplained-cash-credits-taxscan.jpg "Proper Adjudication and Verification needed for Addition of Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]")
![Recoveries of farmer’s advances duly reflected in Cash Book, not Unexplained Cash credit u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Income-tax-Tax-news-Cash-Book-Unexplained-Cash-credit-taxscan.jpg "Recoveries of farmer’s advances duly reflected in Cash Book, not Unexplained Cash credit u/s 68 of Income Tax Act: ITAT [Read Order]")
![Transaction of Deposit by Assessee Company were Genuine: ITAT deletes Unexplained Credits u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Income-Tax-Act-ITAT-Delhi-income-tax-news-tax-news-taxscan.jpg "Transaction of Deposit by Assessee Company were Genuine: ITAT deletes Unexplained Credits u/s 68 of Income Tax Act [Read Order]")
Reversal of Deletion of Addition on Unexplained Cash Credit: Delhi HC Directs ITAT to state Valid Reasons for Reversal [Read Order]
In the case of reversal of deletion of addition on unexplained cash credit, the Delhi High Court directed the Income Tax Appellate Tribunal (ITAT) to state valid reason for the reversal. Om...
![Reversal of Deletion of Addition on Unexplained Cash Credit: Delhi HC Directs ITAT to state Valid Reasons for Reversal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Reversal-of-Deletion-of-Addition-on-Unexplained-Cash-Credit-Delhi-HC-Directs-ITAT-Reasons-for-Reversal-TAXSCAN.jpg "Reversal of Deletion of Addition on Unexplained Cash Credit: Delhi HC Directs ITAT to state Valid Reasons for Reversal [Read Order]")
Absence of Formal Loan Agreement or Repayment Schedule Does Not Justify Treating Unsecured Loan as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the absence of a formal loan agreement or repayment schedule does not justify treating the unsecured loan as unexplained cash...
![Absence of Formal Loan Agreement or Repayment Schedule Does Not Justify Treating Unsecured Loan as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/loan-agreement-unsecured-loan-unexplained-cash-credit-itat-income-tax-tax-absence-of-formal-loan-agreement-treating-unsecured-loan-as-unexplained-cash-credit-cash-credit-taxscan.jpg "Absence of Formal Loan Agreement or Repayment Schedule Does Not Justify Treating Unsecured Loan as Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]")
Treatment of Booking Advances as Unexplained Cash Credits: ITAT quashes Disproportionate Addition towards Co-Owners of Land [Read Order]
The Surat Bench of Income Tax Appellate Tribunal (ITAT) has quashed the disproportionate addition towards co-owners of land as the booking advances were treated as unexplained cash credits. The...
![Treatment of Booking Advances as Unexplained Cash Credits: ITAT quashes Disproportionate Addition towards Co-Owners of Land [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Treatment-of-Booking-Advances-Unexplained-Cash-Credits-ITAT-quashes-Disproportionate-Addition-Addition-ITAT-Co-Owners-of-Land-Income-Tax-taxscan.jpg "Treatment of Booking Advances as Unexplained Cash Credits: ITAT quashes Disproportionate Addition towards Co-Owners of Land [Read Order]")
Alimony Received on Divorce is not Unexplained Cash Credit u/s 68, not Taxable u/s115BBE: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Raipur Bench, has recently held that alimony received on divorce is not unexplained cash credit under Section 68, and that the same is not taxable under...
![Alimony Received on Divorce is not Unexplained Cash Credit u/s 68, not Taxable u/s115BBE: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Alimony-Received-on-Divorce-is-not-Unexplained-Cash-Credit-Alimony-Received-on-Divorce-Alimony-Unexplained-Cash-Credit-ITAT-Taxscan.jpg "Alimony Received on Divorce is not Unexplained Cash Credit u/s 68, not Taxable u/s115BBE: ITAT [Read Order]")
![No Addition can be made on Unexplained Cash Credit from Sale and Purchase of Shares: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Addition-can-be-made-on-Unexplained-Cash-Credit-Sale-and-Purchase-of-Shares-ITAT-TAXSCAN.jpg "No Addition can be made on Unexplained Cash Credit from Sale and Purchase of Shares: ITAT [Read Order]")
Treating Share Subscription by One Party as Unexplained Cash Credit: ITAT deletes Income Tax Addition [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench consisting of Sanjay Garg, Judicial Member and Dr. Manish Borad, Accountant Member deleted addition as there was treating share subscription...
![Treating Share Subscription by One Party as Unexplained Cash Credit: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Share-Subscription-Unexplained-Cash-Credit-Unexplained-Cash-Cash-Credit-ITAT-Taxscan.jpg "Treating Share Subscription by One Party as Unexplained Cash Credit: ITAT deletes Income Tax Addition [Read Order]")
'Purchase on Credit' included within the Meaning of 'Unexplained Cash Credit' u/s 68 of Income Tax Act: ITAT [Read Order]
While allowing a departmental appeal, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the term “purchase on credit” shall be included within the meaning of “unexplained...
![Purchase on Credit included within the Meaning of Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Credit-Unexplained-Cash-Credit-Income-Tax-Act-ITAT-taxscan.jpg "Purchase on Credit included within the Meaning of Unexplained Cash Credit u/s 68 of Income Tax Act: ITAT [Read Order]")