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ITAT Lucknow Rules on Crore Loan Addition and Sustains Partial Penalty
Explore the recent ITAT Lucknow ruling regarding a massive loan addition deletion under Section 68 and the upholding of a specific partial amount.
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ITAT Chennai Rules Identified Cash Commission Cannot Be Taxed as Unexplained Credit
ITAT Chennai deletes major tax addition under Section 68, ruling that identified cash commission and capital introduction cannot be treated as unexplained credit.
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ITAT Deletes Section 68 Addition of Rs 24.01 Lakh on Machinery Sale
Learn how the Rajkot ITAT deleted a Section 68 addition of Rs 24.01 lakh on machinery sale receipts supported by proper books and balance sheets.
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ITAT Kolkata Quashes Assessment Over ACIT Pecuniary Jurisdiction
ITAT Kolkata sets aside a major Section 68 assessment worth Rs.13.29 crore, ruling that the ACIT lacked proper pecuniary jurisdiction.
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Delhi High Court Upholds Section 68 Addition for Unproved Loan Creditworthiness
Delhi High Court sustains a ₹7 lakh addition under Section 68 after the assessee failed to establish the financial capacity of lenders.
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ITAT Mumbai Deletes Rs 2.48 Crore Section 68 Addition for Money Transfer Business
ITAT Mumbai upholds the deletion of a Rs 2.48 crore Section 68 addition after bank credits were successfully reconciled with money transfer operations.
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ITAT Mumbai Rules on Section 68 Share Premium Additions Using Investor Evidence
ITAT Mumbai deletes Section 68 share premium additions following verified investor evidence and confirms the post-2013 proviso is not retrospective.
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ITAT Remands Rs 1.30 Crore Loan Addition Case for Fresh Verification
Learn how the ITAT Mumbai admitted new evidence regarding a Rs 1.30 crore loan addition under Section 68 and remanded the matter for re-evaluation.
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Low Income Does Not Equal Low Creditworthiness Under Section 68
Discover why low returned income does not automatically prove lack of creditworthiness under Section 68 based on recent appellate tribunal rulings.
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ITAT Raipur Upholds Deletion of Rs 1.15 Crore Section 68 Addition on Repaid Loans
ITAT Raipur confirms deletion of Rs 1.15 crore Section 68 addition and interest disallowance after verifying loan repayments.