#Section 68
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Addition solely based on estimation without rejecting books is not sustainable

ITAT Denies SEZ Developer Section 80IAB Deduction on Food & Beverage Sales Income

Duly accounted cash sales during demonetization cannot be treated as unexplained cash credit

Revisionary power u/s 263 rightly invoked as order erroneous and prejudicial to interest of revenue

Section 148 Notice Void if AO Doesn’t examine Assessee’s Filed Return

Voluntary disclosure of LTCG under IDS Scheme: ITAT deletes Penalty

ITAT Orders Denovo Adjudication on Assessee-Tax Consultant Miscommunication

Addition u/s 68 unsustainable as identity, creditworthiness and genuineness of transaction established

ITAT Deletes Addition u/s 69 for Cash Withdrawal & Redeposit in Unsuccessful Property Deal

No Addition u/s 68 if Amount not appear in Books of accounts: ITAT

Assessee fails to submit documents due to Covid: ITAT allows one more opportunity

Initiation of proceedings u/s 153C based on loose sheets seized from third party unsustainable

Cash Credit Addition Deletion by CIT(A) without Verification is Unjustified

Addition u/s 68 invalid if Transaction genuineness & Creditors identity/creditworthiness proved
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.
