Income Tax : Learn about unexplained cash credits under Section 68, tax implications, key legal cases, and compliance requirements to avoid pen...
Income Tax : Understand the applicability of Section 68 (cash credit) and Section 69 (unexplained investments) under the Income Tax Act with re...
Income Tax : The Sections by which the assessees are suffering too much due to high pitched assessments passed by NFAC are from 68 to 69D and 1...
Income Tax : Recent Chennai ITAT decisions address unexplained income, underreporting, and penalties under Sections 69A, 68, 270A, and 271. Key...
Income Tax : Learn about penalty provisions under the IT Act, including penalties for defaults in tax payment, income reporting, and more. Key ...
Income Tax : ITAT Bangalore reverses addition of ₹12 lakh under Section 68, accepting sales as the source of cash deposits made during demone...
Income Tax : ITAT Raipur held that penalty under section 271(1)(c) of the Income Tax Act justifiable since no plausible explanation provided fo...
Income Tax : ITAT Delhi held that when the sale consideration as per conveyance deed and circle rates are different, matter must be referred to...
Income Tax : ITAT Jaipur held that addition of the amount already recorded as cash sales cannot be treated as unexplained cash deposits under s...
Income Tax : ITAT Ahmedabad held that addition, treating share application money as unexplained income, based on surmises and conjectures witho...
Income Tax : Assessing Officers should follow the sequence as noted below for applying provisions of section 68 of the Act: Step 1: Whether the...
Kolkata ITAT rules in favor of Dream Valley Barter Pvt. Ltd., stating no addition under Section 68 for share premium if taxpayer proves identity and creditworthiness.
Kolkata ITAT justifies addition u/s 68 in ITO Vs Mangalvani Commercial Pvt. Ltd. for unexplained share capital & premium. Detailed analysis of the case provided.
ITAT Chennai rules that recoveries of farmers’ advances reflected in cash books are not unexplained cash credits under Section 68 of the Income Tax Act.
Read the detailed analysis of ITAT Kolkata’s dismissal of Ideal Vyapaar Pvt Ltd appeal under section 68 of the Income Tax Act due to absence of explanation for transactions.
ITAT Kolkata deletes Rs. 40 Lakh addition against City Shoppe Estates, affirming identity, creditworthiness of share subscribers, and transaction genuineness.
ITAT upholds addition of alleged gift from father-in-law as unexplained cash credit. Sujeet Kumar vs ITO case. Read the full text of the order.
The Delhi High Court ruled that once a TPO issues an order, the AO must pass an assessment order per Section 92CA(4) of the Income Tax Act.
ITAT Delhi confirms ACIT vs. Delhi Spot Bullion Trading Co. cash sales during demonetisation were legitimate, dismissing Revenue’s appeal.
Explore the ITAT Kolkata ruling on Sunil Khaitan Vs DCIT, delving into the adequacy of fund sources under Section 68 of the Income Tax Act.
Devki Nandan Maheshwari vs ACIT (ITAT Delhi) case: Exploring how cash deposits in lender’s bank account were accepted as explained sources, justifying an unsecured loan under Section 68 of Income Tax Act.
