<PAGE> PAGE 1
000 B000000 12/31/96
000 C000000 088064
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 SCUDDER INVESTMENT TRUST
001 B000000 811-43
001 C000000 6172952567
002 A000000 TWO INTERNATIONAL PLACE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02110
002 D020000 4103
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 SCUDDER GROWTH AND INCOME FUND
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007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
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008 B00AA01 A
008 C00AA01 801-252
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02110
008 D04AA01 2267
011 A00AA01 SCUDDER INVESTOR SERVICES, INC.
011 B00AA01 8-298
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02110
012 A00AA01 SCUDDER SERVICE CORPORATION
012 B00AA01 84-1489
012 C01AA01 BOSTON
012 C02AA01 MA
<PAGE> PAGE 2
012 C03AA01 02110
013 A00AA01 COOPERS & LYBRAND
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
014 A00AA01 SCUDDER INVESTOR SERVICES, INC.
014 B00AA01 8-298
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 40
019 C00AA00 SCUDDERRRR
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020 C000001 434
020 A000002 MERRILL LYNCH
020 C000002 274
020 A000003 UBS SECURITIES
020 C000003 227
020 A000004 GOLDMAN, SACHS & CO.
020 C000004 224
020 A000005 THE FIRST BOSTON CORPORATION
020 C000005 196
020 A000006 SALOMON BROTHERS
020 C000006 189
020 A000007 SBC CAPITAL MARKETS INC.
020 C000007 138
020 A000008 UBS SECURITIES
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020 A000009 PAINE WEBBER
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022 D000003 56546
022 A000004 MERRILL LYNCH
022 C000004 87959
022 D000004 114903
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022 C000005 122863
022 D000005 33439
022 A000006 SALOMON BROTHERS
022 C000006 64009
022 D000006 85966
022 A000007 LEHMAN BROTHERS SECURITIES
<PAGE> PAGE 3
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<PAGE> PAGE 4
062 C00AA00 0.0
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<PAGE> PAGE 5
086 A02AA00 0
086 B01AA00 0
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015 B000102 S
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015 C020102 NY
015 C030102 10005
015 E010102 X
015 A000103 CITIBANK, N.A.
015 B000103 S
015 C010103 BUENOS AIRES
015 D010103 ARGENTINA
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015 A000104 WESTPAC BANKING CORPORATION
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015 C010105 VIENNA
015 D010105 AUSTRIA
015 E040105 X
015 A000106 GENERALE BANK
015 B000106 S
015 C010106 BRUSSELS
015 D010106 BELGIUM
015 E040106 X
015 A000107 THE FIRST NATIONAL BANK OF BOSTON
015 B000107 S
015 C010107 SAO PAULO
015 D010107 BRAZIL
015 E040107 X
015 A000108 CANADA TRUSTCO MORTGAGE COMPANY
015 B000108 S
015 C010108 TORONTO
015 D010108 CANADA
<PAGE> PAGE 6
015 E040108 X
015 A000109 CITIBANK, N.A.
015 B000109 S
015 C010109 SANTIAGO
015 D010109 CHILE
015 E040109 X
015 A000110 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000110 S
015 C010110 BOGOTA
015 D010110 COLOMBIA
015 E040110 X
015 A000111 DEN DANSKE BANK
015 B000111 S
015 C010111 COPENHAGEN
015 D010111 DENMARK
015 E040111 X
015 A000112 MERITA BANK LIMITED
015 B000112 S
015 C010112 HELSINKI
015 D010112 FINLAND
015 E040112 X
015 A000113 BANQUE PARIBAS
015 B000113 S
015 C010113 PARIS
015 D010113 FRANCE
015 E040113 X
015 A000114 DRESDNER BANK AG
015 B000114 S
015 C010114 FRANKFURT
015 D010114 GERMANY
015 E040114 X
015 A000115 NATIONAL BANK OF GREECE
015 B000115 S
015 C010115 ATHENS
015 D010115 GREECE
015 E040115 X
015 A000116 STANDARD CHARTERED BANK
015 B000116 S
015 C010116 HONG KONG
015 D010116 HONG KONG
015 E040116 X
015 A000117 CITIBANK BUDAPEST RT.
015 B000117 S
015 C010117 BUDAPEST
015 D010117 HUNGARY
015 E040117 X
015 A000118 STANDARD CHARTERED BANK
015 B000118 S
015 C010118 JAKARTA
015 D010118 INDONESIA
015 E040118 X
<PAGE> PAGE 7
015 A000119 BANK OF IRELAND
015 B000119 S
015 C010119 DUBLIN
015 D010119 IRELAND
015 E040119 X
015 A000120 MORGAN GUARANTY TRUST COMPANY
015 B000120 S
015 C010120 MILAN
015 D010120 ITALY
015 E040120 X
015 A000121 SUMITOMO TRUST & BANKING CO. LTD
015 B000121 S
015 C010121 TOKYO
015 D010121 JAPAN
015 E040121 X
015 A000123 CITIBANK, N.A.
015 B000123 S
015 C010123 SEOUL
015 D010123 KOREA
015 E040123 X
015 A000124 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B000124 S
015 C010124 KUALA LUMPUR
015 D010124 MALAYSIA
015 E040124 X
015 A000125 CITIBANK MEXICO, S.A.
015 B000125 S
015 C010125 MEXICO CITY
015 D010125 MEXICO
015 E040125 X
015 A000126 MEESPIERSON, N.V.
015 B000126 S
015 C010126 AMSTERDAM
015 D010126 THE NETHERLANDS
015 E040126 X
015 A000127 ANZ BANKING GROUP LIMITED
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015 C010127 AUCKLAND
015 D010127 NEW ZEALAND
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015 A000128 CHRISTIANIA BANK OG KREDITKASSE
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015 C010128 OSLO
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015 E040128 X
015 A000129 DEUTSCHE BANK, AG
015 B000129 S
015 C010129 KARACHI
015 D010129 PAKISTAN
015 E040129 X
015 A000130 CITIBANK, N.A.
<PAGE> PAGE 8
015 B000130 S
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015 D010130 PERU
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015 A000131 STANDARD CHARTERED BANK
015 B000131 S
015 C010131 MANILA
015 D010131 PHILIPPINES
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015 A000132 BANCO COMMERCIAL PORTUGUES
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015 C010132 LISBON
015 D010132 PORTUGAL
015 E040132 X
015 A000133 THE DEVELOPMENT BANK OF SINGAPORE LTD
015 B000133 S
015 C010133 SINGAPORE
015 D010133 SINGAPORE
015 E040133 X
015 A000134 BANCO SANTANDER, S.A.
015 B000134 S
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015 A000136 HONG KONG & SHANGHAI BANKING CORP., LTD.
015 B000136 S
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015 D010136 SRI LANKA
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015 A000137 SKANDINAVISKA ENSKILDA BANKEN
015 B000137 S
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015 A000138 UNION BANK OF SWITZERLAND
015 B000138 S
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015 D010138 SWITZERLAND
015 E040138 X
015 A000139 CENTRAL TRUST OF CHINA
015 B000139 S
015 C010139 TAIPEI
015 D010139 TAIWAN
015 E040139 X
015 A000140 STANDARD CHARTERED BANK
015 B000140 S
015 C010140 BANGKOK
015 D010140 THAILAND
015 E040140 X
015 A000141 CITIBANK, N.A.
015 B000141 S
<PAGE> PAGE 9
015 C010141 ISTANBUL
015 D010141 TURKEY
015 E040141 X
015 A000142 STATE STREET BANK & TRUST COMPANY, LONDON
015 B000142 S
015 C010142 LONDON
015 D010142 UNITED KINGDOM
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015 A000144 CITIBANK, N.A.
015 B000144 S
015 C010144 CARACAS
015 D010144 VENEZUELA
015 E040144 X
015 A000145 STANDARD CHARTERED BANK
015 B000145 S
015 C010145 DHAKA
015 D010145 BANGLADESH
015 E040145 X
015 A000146 BARCLAYS BANK OF BOTSWANA LIMITED
015 B000146 S
015 C010146 BOTSWANA
015 D010146 BOTSWANA
015 E040146 X
015 A000147 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B000147 S
015 C010147 PRAGUE
015 D010147 CZECH REPUBLIC
015 E040147 X
015 A000148 HONG KONG AND SHANGHAI BANKING CORP. LTD.
015 B000148 S
015 C010148 SHANGHAI
015 D010148 CHINA
015 E040148 X
015 A000149 BARCLAYS BANK OF GHANA LIMITED
015 B000149 S
015 C010149 GHANA
015 D010149 GHANA
015 E040149 X
015 A000150 DEUTSCHE BANK AG
015 B000150 S
015 C010150 BOMBAY
015 D010150 INDIA
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015 A000151 BANK HAPOALIM, B.M.
015 B000151 S
015 C010151 TEL AVIV
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015 A000152 CITIBANK POLAND S.A.
015 B000152 S
015 C010152 POLAND
<PAGE> PAGE 10
015 D010152 POLAND
015 E040152 X
015 A000153 STANDARD BANK OF SOUTH AFRICA LTD.
015 B000153 S
015 C010153 SOUTH AFRICA
015 D010153 SOUTH AFRICA
015 E040153 X
015 A000154 CITIBANK, N.A.
015 B000154 S
015 C010154 MONTEVIDEO
015 D010154 URUGUAY
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015 A000155 BARCLAYS BANK OF ZIMBABWE LTD.
015 B000155 S
015 C010155 HARARE
015 D010155 ZIMBABWE
015 E040155 X
015 A000156 BARCLAYS BANK PLC
015 B000156 S
015 C010156 NICOSIA
015 D010156 CYPRUS
015 E040156 X
015 A000164 STATE STREET BANK AND TRUST COMPANY
015 B000164 C
015 C010164 BOSTON
015 C020164 MA
015 C030164 02101
015 E010164 X
025 D000101 0
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<PAGE> PAGE 11
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051 000100 N
052 000100 N
053 A000100 N
054 A000100 Y
054 B000100 Y
054 C000100 Y
054 D000100 N
054 E000100 N
054 F000100 N
<PAGE> PAGE 12
054 G000100 N
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 Y
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 1000
066 A000100 Y
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066 D000100 N
066 E000100 Y
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 Y
070 C010100 Y
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070 D010100 Y
070 D020100 Y
070 E010100 Y
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070 F010100 Y
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070 G010100 Y
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070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 Y
<PAGE> PAGE 13
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 Y
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
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071 B000100 965117
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<PAGE> PAGE 14
073 A010100 0.5700
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075 A000100 0
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076 000100 0.00
080 A000100 ICI MUTUAL INSURANCE COMPANY
080 B000100 GULF INSURANCE CO.
080 C000100 40000
081 A000100 Y
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<PAGE> PAGE 15
SIGNATURE THOMAS F. MCDONOUGH
TITLE
Coopers Coopers & Lybrand L.L.P.
& Lybrand
a professional services firm
Report of Independent Accountants
To the Trustees of Scudder Investment Trust, and
the Shareholders of Scudder Growth & Income Fund:
In planning and performing our audit of the financial statements and
financial highlights of Scudder Growth & Income Fund for the year ended December
31, 1996, we considered its internal control structure, including procedures for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and financial
highlights and to comply with the requirements of Form N-SAR, not to provide
assurance on the internal control structure.
The management of Scudder Growth & Income Fund is responsible for
establishing and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of internal control structure policies and
procedures. Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure,
errors or irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the effectiveness of
the design and operations may deteriorate.
Our consideration of the internal control structure would not
necessarily disclose all matters in the internal control structure that might be
material weaknesses under standards established by the American Institute of
Certified Public Accountants. A material weakness is a condition in which the
design or operation of the specific internal control structure elements does not
reduce to a relatively low level the risk that errors or irregularities in
amounts that would be material in relation to the financial statements and
financial highlights being audited may occur and not be detected within a timely
period by employees in the normal course of performing their assigned functions.
However, we noted no matters involving the internal control structure, including
procedures for safeguarding securities, that we consider to be material
weaknesses, as defined above, as of December 31, 1996.
This report is intended solely for the information and use of management
of Scudder Growth & Income Fund and the Securities and Exchange Commission.
/s/Coopers & Lybrand L.L.P.
Boston, Massachusetts COOPERS & LYBRAND L.L.P.
February 14, 1997
Coopers & Lybrand L.L.P. is a member of Coopers & Lybrand International, a
limited liability association in corporated in Switzerland.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Growth & Income Fund Annual Report for the fiscal year ended December 31, 1996
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> Scudder Growth & Income Fund
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 3,071,305,690
<INVESTMENTS-AT-VALUE> 4,188,414,215
<RECEIVABLES> 37,670,126
<ASSETS-OTHER> 259,825,314
<OTHER-ITEMS-ASSETS> 20,224
<TOTAL-ASSETS> 4,485,929,879
<PAYABLE-FOR-SECURITIES> 10,050,401
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 289,398,273
<TOTAL-LIABILITIES> 299,448,674
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,992,575,185
<SHARES-COMMON-STOCK> 180,244,068
<SHARES-COMMON-PRIOR> 151,318,741
<ACCUMULATED-NII-CURRENT> 6,401,797
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 70,381,341
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,117,122,882
<NET-ASSETS> 4,186,481,205
<DIVIDEND-INCOME> 117,546,539
<INTEREST-INCOME> 9,381,108
<OTHER-INCOME> 0
<EXPENSES-NET> 27,738,643
<NET-INVESTMENT-INCOME> 99,189,004
<REALIZED-GAINS-CURRENT> 212,741,586
<APPREC-INCREASE-CURRENT> 415,550,751
<NET-CHANGE-FROM-OPS> 727,481,341
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (95,258,805)
<DISTRIBUTIONS-OF-GAINS> (149,937,532)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 51,282,565
<NUMBER-OF-SHARES-REDEEMED> (32,205,566)
<SHARES-REINVESTED> 9,848,328
<NET-CHANGE-IN-ASSETS> 1,125,273,625
<ACCUMULATED-NII-PRIOR> 2,471,598
<ACCUMULATED-GAINS-PRIOR> 7,577,287
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17,628,873
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 27,738,643
<AVERAGE-NET-ASSETS> 3,576,590,915
<PER-SHARE-NAV-BEGIN> 20.23
<PER-SHARE-NII> .60
<PER-SHARE-GAIN-APPREC> 3.84
<PER-SHARE-DIVIDEND> (.57)
<PER-SHARE-DISTRIBUTIONS> (.87)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.23
<EXPENSE-RATIO> .78
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
