Cheque Fraud and Unexplained Cash Credit Under Section 68 Explained in M/s Rise Projects Pvt. Ltd. v. ACIT: Delhi

The Income Tax Appellate Tribunal (ITAT), Delhi Bench ‘G’ delivered an important judgment on 18 March 2026 in the case of M/s Rise Projects Private Limited Versus Assistant Commissioner of Income Tax, Central Circle-32, Delhi. The case primarily dealt with the issue of unexplained cash credit under Section 68 of the Income Tax Act, 1961, along with jurisdictional challenges under Section 147. Background of the Case The assessee, M/s Rise…