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ITAT Upholds ₹5.48 Lakh Brokerage Addition, Finds Seized Records Reflected Mock Trading, Not Unexplained Income [Read Order]

Sneha Sukumaran Mullakkal

The Jaipur Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner of Income Tax (Appeals)[CIT(A)]’s decision restricting the...

ITAT deletes Addition of Rs. 25 Lakh as Unexplained Cash Credits, Finds Loan from Promoters Genuine...

ITAT Orders Rehearing of Assessee's Appeal After CIT(A) Dismissal for Non-Prosecution [Read Order]

ITAT Remands Case to AO after CIT (A) Rejects ITR and other Documents Linked to Unexplained Cash...

CIT(A) Pronounces Ex-Parte decision on Unexplained Cash Credits ignoring Adjournment Request filed...

Gift received from mother shall not be termed as Unexplained Cash Credits: ITAT deletes addition imposed u/s 68 of Income Tax Act [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the gift received from the mother shall not be termed as unexplained cash credits hence no addition shall be imposed under...

Unsecured Loan Availed not to be Treated as Unexplained Cash Credits u/s 68 of Income Tax Act: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the unsecured loan availed by the assessee cannot be treated as unexplained cash credit under Section 68 of the Income Tax Act,1961...

Failure to Prove Authenticity of Loan Transactions: ITAT holds Unsecured Loans as Unexplained Cash Credits u/s 68 of Income Tax Act

The Raipur bench of Income Tax Appellate Tribunal (ITAT) has recently upheld the decision of the lower authority held that unsecured loans are unexplained cash credits under Section 68 of Income Tax...

Once Bogus Purchase is Sold then entire amount can’t be added as Unexplained Cash Credits: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that once a bogus purchase is sold than the entire amount cannot be added as Unexplained cash credits. The assessee, Brij Resources Pvt....

ITAT deletes Addition made on account of Unexplained Cash Credits to tune of Rs.5.76 Cr

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench deletes additions made on account of unexplained cash credits to the tune of Rs.5.76 Crores. The assessee, Mukesh Mittal had sold...

ITAT Upholds Deletion of Additions Made on Account of Share Application/Capital Received as Unexplained Cash Credits u/s 68 Income Tax Act [Read Order]

The Income Tax Appellate Tribunal (ITAT), upheld the deletion of additions made on account of share application or capital received as unexplained cash credits under Section 68 of the Income Tax Act...

Only Partners, Not a Firm Assessable to Unexplained Cash Credits for Capital Introduced by Partner: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) in ITO v. Bajaj Roadways, held that a Firm cannot be assessable to unexplained cash credits under Section 68 of the Income Tax Act in...