#Section 68
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Penny Stocks and Legal Framework: Strengthening Revenue’s Position

Assessee not required to prove source of amount in bank account of cash creditors: ITAT Jaipur

Addition based on loose papers without corroborative material not Valid: ITAT Nagpur

Revision u/s. 263 set aside as based on assumption and presumption: ITAT Jaipur

Assessee Proving Three Ingredients U/S 68 Shifts Burden to AO: ITAT Pune

ITAT Dismisses Revenue’s Appeal as Tax effect was Below Rs. 60 Lakh

No Additions in Search Assessment Without Incriminating Material: ITAT Lucknow

Truck Sale Proceeds Not Unexplained Cash: ITAT Pune

Bombay HC: Unexplained Bank Credits Taxable under Sec 68, Orders Probe into Accommodation Entry Racket

Delhi HC dismisses writ against addition share application money as sham transaction

Gain from Land Held as Investment Rightly Treated as Capital Gain, Not Business Income: ITAT Jodhpur

Section 68 Addition Invalid if Assessee Proves Genuineness of Unsecured Loans: ITAT Mumbai

Penny Stock: No Sections 68 & 69 Additions Solely on Suspicion or General Trends

Once repayment is established, Section 68 additions unwarranted: ITAT Jaipur
Explore the latest Section 68 updates on TaxGuru, including relevant Income-tax Act provisions, rules, notifications, circulars, judicial decisions and compliance guidance. The coverage highlights important tax positions, procedural requirements, assessments, deductions, penalties and litigation developments to help taxpayers and professionals understand the practical implications of changes in income-tax law.
