{"id":50195,"date":"2025-01-25T16:22:04","date_gmt":"2025-01-25T10:52:04","guid":{"rendered":"https:\/\/itatonline.org\/digest\/vijay-maneklal-banushali-v-ito-mum-tribwww-itatonline-org\/"},"modified":"2025-01-25T16:22:04","modified_gmt":"2025-01-25T10:52:04","slug":"vijay-maneklal-banushali-v-ito-mum-tribwww-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/vijay-maneklal-banushali-v-ito-mum-tribwww-itatonline-org\/","title":{"rendered":"Vijay Maneklal Banushali v. ITO ( Mum)( Trib)(www.itatonline .org"},"content":{"rendered":"<p>On the basis of information from investigation wing the Assessment of the appellant was reopened .The Assessing Officer added entire purchase and sales transactions with sub broker as cash credits under section 68 of the Act . On appeal the CIT(A) affirmed the addition . On appeal the Tribunal held that\u00a0 addition under section 68 cannot be made and only profit can be estimated . Accordingly the addition\u00a0 under Section 68 is deleted (AY. 2010 -11)( ITA No.1773\/\/2024 dt .13 -1 -2025 ) \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits \u2013 Purchase and sales through book entries with sub -broker -Commodity exchange \u2013 Futures Speculative transactions- Forward market commission-Accommodate bogus loss- Transaction with sub -broker \u2013 Addition is deleted . <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-50195","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-d3B","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=50195"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50195\/revisions"}],"predecessor-version":[{"id":50196,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50195\/revisions\/50196"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=50195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=50195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=50195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}