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![Draft Return Unrealistic, Books Absent: ITAT Deletes S.68 Additions, Estimates Liquor Firm’s Net Profit at 2.5% of Gross Sales [Read Order]](https://images.taxscan.in/h-upload/2025/11/11/500x300_2104209-draft-return-itat-net-profit-gross-sales-estimates-liquor-firms-taxscan.webp "Draft Return Unrealistic, Books Absent: ITAT Deletes S.68 Additions, Estimates Liquor Firm’s Net Profit at 2.5% of Gross Sales [Read Order]")
Draft Return Unrealistic, Books Absent: ITAT Deletes S.68 Additions, Estimates Liquor Firm’s Net Profit at 2.5% of Gross Sales [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench, in for the Assessment Year 2017-18, partly allowed the appeal of the assessee, a...
![Trade Payables and Receivables Carried Forward from Earlier Years Not Fresh Credits: ITAT Deletes ₹5.99 Cr total Addition [Read Order]](https://images.taxscan.in/h-upload/2025/10/29/250x150_2100878-trade-payable-itat-taxscan.webp "Trade Payables and Receivables Carried Forward from Earlier Years Not Fresh Credits: ITAT Deletes ₹5.99 Cr total Addition [Read Order]")
![Alleged Shell Company Transactions: ITAT deletes ₹15 Lakh Addition u/s 68 [Read Order]](https://images.taxscan.in/h-upload/2025/10/01/250x150_2093043-itat-itat-roundup-weeklyrounup-taxscan-1.webp "Alleged Shell Company Transactions: ITAT deletes ₹15 Lakh Addition u/s 68 [Read Order]")
![Additional Evidence Filed for Supporting Genuineness of Business Advance: ITAT Remands ₹30 Cr Unexplained Credit Matter [Read Order]](https://images.taxscan.in/h-upload/2025/07/31/250x150_2071408-additional-evidence-filed-supporting-genuineness-business-advance-itat-remands-30-cr-unexplained-credit-taxscan.webp "Additional Evidence Filed for Supporting Genuineness of Business Advance: ITAT Remands ₹30 Cr Unexplained Credit Matter [Read Order]")
![Unexplained Credit Addition u/s 68: ITAT Upholds CIT(A)’s Order, Citing Retraction of Statements and Documentary Evidence [Read Order]](https://images.taxscan.in/h-upload/2025/07/31/250x150_2071634-unexplained-credit-unexplained-credit-addition-section-68-of-the-income-tax-act-taxscan.webp "Unexplained Credit Addition u/s 68: ITAT Upholds CIT(A)’s Order, Citing Retraction of Statements and Documentary Evidence [Read Order]")
₹25 Lakh Loan from Unverified Entity: Delhi HC Dismisses Income Tax Appeal for Lack of Genuineness and Creditworthiness [Read Order]
The High Court of Delhi, dismissed an income tax appeal involving a ₹25 lakh loan received from an unverified entity, M/s Oxygen Projects Pvt. Ltd., due to lack of evidence establishing the...
![₹25 Lakh Loan from Unverified Entity: Delhi HC Dismisses Income Tax Appeal for Lack of Genuineness and Creditworthiness [Read Order]](https://images.taxscan.in/h-upload/2025/07/25/500x300_2068969-loan-from-unverified-entity-unverified-entity-delhi-hc-delhi-hc-dismisses-income-tax-appeal-taxscan.webp "₹25 Lakh Loan from Unverified Entity: Delhi HC Dismisses Income Tax Appeal for Lack of Genuineness and Creditworthiness [Read Order]")
Taxpayer Wins Remand Despite Lapses: ITAT Orders New Hearing on ₹34 Lakh Unexplained Credit [Read Order]
The Nagpur Bench of the Income Tax Appellate Tribunal (ITAT) has set aside an ex-parte appellate order and directed a fresh hearing in the case of the appellant, who faced an addition of ₹34,31,971...
![Taxpayer Wins Remand Despite Lapses: ITAT Orders New Hearing on ₹34 Lakh Unexplained Credit [Read Order]](https://images.taxscan.in/h-upload/2025/07/10/500x300_2062424-itat-nagapur-unexplained-credit-taxpayer-taxscan.webp "Taxpayer Wins Remand Despite Lapses: ITAT Orders New Hearing on ₹34 Lakh Unexplained Credit [Read Order]")