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Calcutta HC upholds ITAT's deletion of Income Tax Addition u/s 69 of the Income Tax Act due to lack of Direct Evidence against Assessee [Read Order]

Varda Marakkar

The Calcutta HC in a recent case upheld the Income Tax Appellate Tribunal’s ( ITAT ) decision to delete Income tax addition made under section 69 of...

‘Beyond Scope’ of Section 153A: ITAT quashes Assessment Order [Read Order]

Receipt of Subscription Amount from Holding Company: Calcutta HC reaffirms Income Tax Addition...

Community Service Contributions by Employer as per MOU with Workers Union is Business Expenditure,...

Non-compliance with Section 151A: Bombay HC quashes Income Tax Notice u/s 148A outside Faceless...

Requirement of Filing Audit Report In Form 10B is only Procedural: ITAT grants Income Tax Exemption [Read Order]

In a recent case, the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT) held that the requirement of filing an audit report in Form 10B is only procedural and allowed exemption under Income...

Non-Cooperation in Assessment Proceedings: Calcutta HC grants Appellant Final Opportunity to Substantiate Case under Income Tax Act

The Calcutta High Court in a recent ruling gave the appellant a final opportunity to substantiate their case of non-cooperation in assessment proceedings under the Income Tax Act 1961 ( ITA ) before...

Deemed Dividends u/s 2(22)(e) of the Act Taxed only in Shareholders' Hands: Calcutta High Court upholds ITAT Decision [Read Order]

In the recent case, the High Court Of Calcutta, upholding the Income Tax Appellate Tribunal’s ( ITAT ) decision that deemed dividends under Section 2(22)(e) of the Income Tax Act,1961 can only be...

Relief Granted to Trust Despite Late Audit Report Submission: Calcutta High Court Upholds ITAT's Decision [Read Order]

In the recent case, the High Court of Calcutta dismissed the revenue petitioner’s appeal challenging the Income Tax Appellate Tribunal’s( ITAT ) decision for assessment year(AY) 2020-21. The Court...

Addition u/s 68 of Income Tax Act is invalid as AO fails to Verify Genuineness of Transaction: Calcutta High Court dismiss Appeal [Read Order]

The Calcutta High court dismissed the appeal as it lacked a substantial question of law. The Court found that the addition was made under section 68 of the Income Tax Act, 1961 as the Assessing...

21 months Delay in Filing Income Tax Appeal due to Covid Pandemic: ITAT condones Delay citing SC Ruling [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) set aside the Commissioner of Income Tax (Appeals) order and allowed 21 months of delayed income tax appeal due to the COVID-19...

Expense Disallowance u/s 14A exceeds Exempt Income, no Error or Revenue Prejudice Found: ITAT criticizes PCIT's unnecessary revision [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) criticized the Principal Commissioner of Income Tax for not recognizing that the assessee had already disallowed a higher amount of...

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