ITAT deletes Section 68 Addition

The Income Tax Appellate Tribunal, Delhi Bench, by its order dated 14 May 2026, dismissed the Revenue's appeal and upheld the deletion of an addition under Section 68 of the Income-tax Act. 

The Tribunal held that the amount received by the assessee represented repayment of an earlier advance and could not be treated as unexplained cash credit merely because the payer was subsequently alleged to be a shell company.