Stories with the ‘ tag ‘ you searched for "Section 68 of Income Tax Act"

AO Can Make Addition Of Unexplained Cash Credit U/s 68 Only In Previous Year In Which Such Cash Credit Was Made And Assessee Fails To Explain Same: Mumbai ITAT
Addition U/s 68 Should Be Restricted To Extent Of Gross Profit At Same Rate Of Genuine Purchases If Sales Are Not Disputed: Mumbai ITAT
Assessee Has Not Benefited From Round-Tripping Of Share Transactions; Mumbai ITAT Deletes Addition U/s 68
Commission Expenses Can Be Allowed If Taxpayer Satisfies Rendering Of Services By Commission Agents And Income From Same Is Shown In Return: Mumbai ITAT
No Addition Permitted U/s 68 Once Taxpayer Establishes Genuineness & Creditworthiness Of Share Subscribers: Mumbai ITAT
Making Deposit At One Go After Declaration Of Demonetization Is No Reason For Doubting Cash Sales: Indore ITAT
Receipts By Taxpayer Can't Be Added To Its Income U/s 68 For Just Non-Compliance Of Summons Issued U/s 131: Kolkata ITAT
Cash Deposits Made During Demonetization Is No Basis For Addition U/s 68, Without Rejecting Audited Books Of Account: Delhi ITAT
AO Must Make Independent Enquiry To Verify Veracity Of Identity, Genuineness & Credit-Worthiness Of Lenders Before Making Addition U/s 68: Kolkata ITAT
If Purchases Are Treated As Genuine And Stock Is Also Accepted, Then Treating Sales As Bogus Is Not Logical: New Delhi ITAT
Sec 68 Can Be Invoked Only If Taxpayer Fails To Explain Amount Found Credited In Its Books: Mumbai ITAT
ITR Reflecting PAN, Bank Statement & Confirmation Of Creditors Duly Adduced: Delhi ITAT Deletes Addition Based On Unsecured Loan