Tag: ITAT KOLKATA
PCIT cannot invoke the revisionary jurisdiction u/s 263 of the Income Tax Act upon a proposal from the Assessing Officer – ITAT In a recent judgment, ITAT Kolkata has held that PCIT cannot invoke the revisionary jurisdiction u/s 263 of the Income Tax Act, 1961 upon a proposal …
No addition can be made only on basis of Whatsapp Chats between director and employee of the company as apart from the Whatsapp Chat there was no evidence on record. In a recent judgment, ITAT Kolkata has deleted addition made only on the basis of Whatsapp Chats between …
Advances received in normal course of business and adjusted against sale bills cannot be added u/s 68 of the Income Tax Act In a recent judgment, ITAT Kolkata has upheld that advances received in the normal course of business cannot be added u/s 68 of the Act when …
ITAT quashed reassessment as notice u/s 148 was issued even prior to the due communication of approval u/s 151 to the Assessing Officer. In a recent judgment, ITAT Kolkata has quashed reopening of assessment as nullity and invalid in the eyes of law when the notice issued u/s …
In an unabated assessment, statement made by a third party can’t be treated as incriminating material In a recent judgment, ITAT Kolkata has held that in an unabated assessment incriminating material in terms of provisions of Section 153A cannot be in the form of statement of a third …
Addition u/s 69C towards alleged bogus purchase deleted due to failure of AO to bring on record any material/evidence for alleging such transactions. In a recent judgment, Kolkata ITAT has deleted addition made u/s 69C towards alleged bogus purchase due to failure of the AO to bring on …
Once repayment of the loan is established, credit entries cannot be added to income in isolation ignoring the debit entries despite being made in the later years – ITAT In a recent judgment, ITAT Calcutta has deleted addition for unexplained cash credit observing that once repayment of the …
Self-made cash payment vouchers disallowance additions made for truck hire charges doubting genuineness of expenditure without making any enquiry was deleted by ITAT Kolkata. Case Law Details: I.T.A. No. 1182 /KOL/ 2013 Assessment Year: 2008-2009 Assistant Commissioner of Income Tax vs. Shyam Sundar Agarwal Date of Judgment/Order: 27/05/2016 Important …
Penalty 271(1)(c) quashed for non-malafide conduct to evade tax payment in the case of 68 years aged retired scientist not very much conversant with the provisions of the Income Tax Act by ITAT Kolkata in its recent judgment as under: Case Law Details: ITA No.1900/Kol/2014 Assessment year : 2006-07 Dr.S.N.Ganguly vs. ACIT Date …
Addition made as stop gap arrangement till TDS return revised to ascertain the true nature of the transactions set aside by ITAT Kolkata in a recent judgment as under: Case Law Details: ITA No.2301/Kol/2013 Assessment year : 2009-10 Ashok Kumar Shaw vs. ITO Date of Judgment/Order: 06/05/2016 Brief Facts of …
