#Section 68
Log in to FollowLatest Section 68 updates, provisions, case laws, compliance requirements, tax implications and expert analysis under Income-tax law on TaxGuru.

Addition u/s 68 towards unexplained cash credit unjustified as source of cash deposit proved

No addition u/s 41 for opening balance of trade payables in absence of verification of parties

No section 68 addition in absence of actual receipt of money & for accounting mistake

Cash Deposit Addition: ITAT provides opportunity to substantiate source

Section 271(1)(c) penalties leviable only in clear cases of income concealment or inaccurate reporting

ITAT Denies Exemption u/s 10(38) for Sham Transaction with Paper Companies

AO not considered Unsigned Reply: ITAT Directs Re-adjudication

No Cash Sales Abnormalities During Demonetization- ITAT deletes addition

Invocation of revisionary power u/s 263 unsustainable as inquiry was duly conducted by AO

Reopening of assessment based on wrong and irrelevant facts is unsustainable-in-law

ITAT Hyderabad: Cash Deposit by NRI, Deletion of Addition

Addition u/s. 69C treating share transactions as bogus only based on statement of broker unsustainable

Unjustified Section 68 Addition: Gold Sale Cash Receipts Recorded in Books

Addition u/s 68 unjustified as sufficient evidences placed to discharge initial onus
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.
