Tag: ITAT KOLKATA

Self-made cash payment vouchers disallowance made for truck hire charges doubting genuineness of expenditure without any enquiry deleted by ITAT

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 for 68 years aged retired scientist not conversant with Income Tax Act

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 …

Merging orders of re-assessment u/s 143(3)/147 and original assessment u/s 143(3) for the purpose of rectification time limit u/s 154 do not apply

In a recent judgment, ITAT Kolkata has held that the re-assessment under section 143(3)/147 is independent and separate from the original assessment order passed u/s 143(3) and it can not be said that the both the orders of assessment made u/s 143(3) originally and the assessment made subsequently u/s …

Loans Advance given on interest not deemed dividend u/s 2(22)(e) as the shareholder do not derive any benefit from the funds of the company

When the company was compensated by way of interest on loan taken, the assessee shareholder in real sense did not derive any benefit from the funds of the Company so as to attract the provisions deemed dividend under section 2(22)(e). INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘C’ BENCH, KOLKATA I.T.A. …

CIT Appeals order passed ex parte without giving another opportunity or mentioning reasons for additions sustained is bad

INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘A’, KOLKATA ITA No. 766/Kol/2013 : Asstt. Year : 2009-2010 Asish Ranjan Chowdhury (APPELLANT)  vs. I.T.O. (RESPONDENT) Date of Order: 11/03/2016 ORDER Per Shri S.S.Viswanethra Ravi, J.M. This appeal is filed by the assessee having aggrieved by the order dated 19.10.2011 passed by the CIT(Appeals)-XXXII, …

Section 12AA 80G5 charitable trust approval rejection on defective dissolution clause in the deed is beyond the scope of enquiry for grant of registration

INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘A’ BENCH, KOLKATA I.T.A. Nos. 1456 & 1457/KOL/ 2015 RP-Sanjiv Goenka Group CSR Trust …. Appellant vs. CIT (Exemptions) …. Respondent Date of Order: 04-03-2016 ORDER Per Shri P.M. Jagtap :- These two appeals filed by the assessee are directed against two separate orders passed …