ITAT Holds Receipt of Sale Consideration Through Banking Channel Cannot Be Treated as Unexplained Credit Without Proper Examination of Transaction:
The Income Tax Appellate Tribunal (ITAT), Delhi, has set aside an addition of Rs. 71 lakh made under Section 68 of the Income Tax Act and restored the matter to the AO for fresh adjudication.
ITAT Deletes Rs. 71 Lakh Addition Under Section 68
Saima
Jul 2, 2026Premium
ITAT Holds Receipt of Sale Consideration Through Banking Channel Cannot Be Treated as Unexplained Credit Without Proper Examination of Transaction
The Income Tax Appellate Tribunal (ITAT), Delhi, has set aside an addition of Rs. 71 lakh made under Section 68 of the Income Tax Act and restored the matter to the AO for fresh adjudication.
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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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