Expression “any previous year” in Section 68 refers to previous year relevant to the Assessment Year in question - High…
No Addition u/s 68 to be made as unexplained cash credit if loan creditor had deposited cash before issue of…
Addition u/s 68 made without issuing notice to creditors deleted by ITAT as AO failed to conduct inquiry. Had creditors…
Addition for unexplained cash credit u/s 68 deleted when assessee’s accountant wrongly passed such entries in the books of accounts…
Harassing assessee in the pretext of verifying documents futile exercise - ITAT deleted additions u/s 68 made for cash deposits…
Share Capital/Premium can not be regarded as undisclosed income. High Court deleted addition made for share premium u/s 68 ABCAUS…
Explanation can not be rejected applying prudent mans behaviour test. High Court deletes addition made for cash deposits applying Principle…
Assessee cannot be penalized for non response or non attendance by creditors in response to notice when all details regarding…
Execution of registered sale deed adjusting cash credit entries in books establishes identity of depositors of money beyond doubt-High Court…
In a latest judgment, ITAT Chennai has quashed penalty proceedings u/s 271(1)(c) for concealment holding that there is a difference…