ITAT Rules Mere Suspicion over "Source of Income" Cannot Justify Addition Under Section 68 :

ITAT Rules Mere Suspicion over "Source of Income" Cannot Justify Addition Under Section 68

The Income Tax Appellate Tribunal (ITAT) Mumbai has upheld the deletion of an addition of Rs 60.03 crore under Section 68 holding that the assessee had successfully established the genuineness of the contribution.

ITAT Deletes Rs 60.03 Crore Section 68 Addition

authorSaimadateJul 2, 2026
Last update on Jul 2, 2026
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ITAT Rules Mere Suspicion over "Source of Income" Cannot Justify Addition Under Section 68

The Income Tax Appellate Tribunal (ITAT) Mumbai has upheld the deletion of an addition of Rs 60.03 crore under Section 68 holding that the assessee had successfully established the genuineness of the contribution.

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Saima

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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.
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Delhi, Delhi, India
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