Fruit Dealer Wins Landmark Tax Case in ITAT Bangalore
ITAT Bangalore rules cash deposits of a fruit dealer were genuine business receipts, deleting additions under Section 68 for unexplained cash credits.
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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.
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.
ITAT Mumbai upholds deletion of share premium addition under Section 68, holding that genuine investments backed by DCF valuation and banking trail cannot be taxed.
ITAT rules jeweller’s cash sales on demonetisation day as genuine, deleting Section 68 addition. Major clarity for businesses facing scrutiny over cash deposits.