Curated legal news, case breakdowns, and workflow tips for fast-moving practitioners.
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ITAT Bangalore rules cash deposits of a fruit dealer were genuine business receipts, deleting additions under Section 68 for unexplained cash credits.
ITAT Mumbai rules that cash received from property sale cannot be treated as unexplained income under Section 68 if supported by a registered sale deed and bank records. Landmark …
ITAT Amritsar rules that entire cash deposits cannot be taxed as unexplained income. Tribunal applies 8% presumptive tax rate in accommodation entry cases, granting major relief u…
Patna High Court rules that taxpayers are not required to prove the “source of source” under Section 68 once creditor identity is established. ITAT order set aside, major relief i…
ITAT rules that unexplained cash additions under Section 68 are invalid unless books are rejected under Section 145(3), deleting a ₹64 lakh addition.