ITAT Deletes Section 68 Addition After Assessee Proves Bank-to-Bank Transfer:
The ITAT Mumbai holds transfer of closing balance between assessee’s bank accounts cannot be treated as unexplained credit.
ITAT Deleted Rs 3.08 Lakh Addition
Saima
Sep 17, 2026
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ITAT Deletes Section 68 Addition After Assessee Proves Bank-to-Bank Transfer
The ITAT Mumbai holds transfer of closing balance between assessee’s bank accounts cannot be treated as unexplained credit.
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About Author
Saima
Content Writer
Saima is a Law graduate with a passion for research and content writing. She writes for Finance, Taxation and Legal Updates at Studycafe.in, simplifying complex legal decisions by the ITAT, High Court, AAR and GSTAT into uncomplicated and clear explanations.
Saima is a Law graduate with a passion for research and content writing. She writes for Finance, Taxation and Legal Updates at Studycafe.in, simplifying complex legal decisions by the ITAT, High Court, AAR and GSTAT into uncomplicated and clear explanations.
StudyCafe
Delhi, Delhi, India
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