![AO fails to verify Genuineness of Credible Information before issuing Notice: ITAT quashes Notice u/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Kolkatha-ITAT-quashed-the-notice-issued-under-Section-148-of-the-ITA-AO-Fails-to-verify-Genuineness-taxscan.jpg "AO fails to verify Genuineness of Credible Information before issuing Notice: ITAT quashes Notice u/s 148 of Income Tax Act [Read Order]")
AO fails to verify Genuineness of Credible Information before issuing Notice: ITAT quashes Notice u/s 148 of Income Tax Act [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the notice issued under Section 148 of the Income Tax Act, 1961 as the...
![Section 194C is not applicable on payments made by assessee Unless a charge is being determined: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Kolkata-Income-tax-appellate-tribunal-Section-194C-Income-tax-taxscan.jpg "Section 194C is not applicable on payments made by assessee Unless a charge is being determined: ITAT [Read Order]")
![Passing Intimation u/s 143 without Reasonable Opportunity to Taxpayer Deemed Unlawful: ITAT against AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Passing-Intimation-Reasonable-Opportunity-Taxpayer-itat-taxscan.jpg "Passing Intimation u/s 143 without Reasonable Opportunity to Taxpayer Deemed Unlawful: ITAT against AO [Read Order]")
![Penalty u/s 271(1) shall be Calculated Based on Additions Made to Income Disclosed in ITR u/s 139(1) of Income Tax Act : ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Kolkata-Income-Tax-ITR-Income-Tax-Return-TAXSCAN.jpg "Penalty u/s 271(1) shall be Calculated Based on Additions Made to Income Disclosed in ITR u/s 139(1) of Income Tax Act : ITAT [Read Order]")
Inappropriate use of discretionary powers by the Income Tax Department under Section 68 of the Income Tax Act: ITAT dismisses appeal [Read Order]
The Kolkata bench of the Income Tax Appellate Authority rejected revenue’s case for filing an appeal against the decision on CIT(A) for taxing the assessee under Section 68 of the Income Tax...
![Inappropriate use of discretionary powers by the Income Tax Department under Section 68 of the Income Tax Act: ITAT dismisses appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Income-Tax-Department-ITAT-Kolkata-Income-Tax-Revenue-case-rejection-Assessee-taxation-ITAT-appeal-dismissal-taxscan.jpg "Inappropriate use of discretionary powers by the Income Tax Department under Section 68 of the Income Tax Act: ITAT dismisses appeal [Read Order]")
Revisionary Order passed u/s 263 in Name of Non-Existent Entity is Void Ab-Initio and can't give rise to any Valid Collateral Proceeding: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the revisionary order passed under Section 263 of the Income Tax Act, 1961 in the name of a non-existent entity is void ab...
![Revisionary Order passed u/s 263 in Name of Non-Existent Entity is Void Ab-Initio and cant give rise to any Valid Collateral Proceeding: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Revisionary-Order-Collateral-ITAT-ITAT-Kolkata-Collateral-Proceeding-Non-Existent-Entity-Void-Ab-Initio-taxscan.jpg "Revisionary Order passed u/s 263 in Name of Non-Existent Entity is Void Ab-Initio and cant give rise to any Valid Collateral Proceeding: ITAT [Read Order]")
Exemption u/s 10(38) shall be allowed where Purchase and Sale of Shares on which LTCG is earned has been Genuinely Effected: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the exemption under Section 10(38) of the Income Tax Act, 1961 shall be allowed where the purchase and sale of shares on which...
![Exemption u/s 10(38) shall be allowed where Purchase and Sale of Shares on which LTCG is earned has been Genuinely Effected: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Exemption-Sale-of-Shares-Purchase-of-shares-long-term-capital-gain-ITAT-ITAT-Kolkata-shares-taxscan.jpg "Exemption u/s 10(38) shall be allowed where Purchase and Sale of Shares on which LTCG is earned has been Genuinely Effected: ITAT [Read Order]")
"Income other than business/Profession Mismatch" falls within Scope of Limited Scrutiny: ITAT Sets aside Assessment Order [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) set aside the impugned assessment order and held that income other than business/professional mismatch falls within scope of limited...
![Income other than business/Profession Mismatch falls within Scope of Limited Scrutiny: ITAT Sets aside Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Income-business-Profession-Mismatch-Scope-of-Limited-Scrutiny-ITAT-Assessment-Order-TAXSCAN.jpg "Income other than business/Profession Mismatch falls within Scope of Limited Scrutiny: ITAT Sets aside Assessment Order [Read Order]")
Addition u/s 68 of Income Tax Act can be made for Cash Credits Received by Assessee in its Account during the year Relevant to AY: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) held that additions under Section 68 of Income Tax Act,1961 would be made for the cash credits received by an assessee in its accounts during...
![Addition u/s 68 of Income Tax Act can be made for Cash Credits Received by Assessee in its Account during the year Relevant to AY: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-Income-Tax-Act-Cash-Credits-Assessee-Account-year-Relevant-AY-ITAT-TAXSCAN.jpg "Addition u/s 68 of Income Tax Act can be made for Cash Credits Received by Assessee in its Account during the year Relevant to AY: ITAT [Read Order]")
Failure of Assessee to provide Evidence/Convincing reply about Goods received: ITAT made disallowance of 5% on account of Profit element [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) made a disallowance of 5% on account of the profit element due to the failure of the assessee to provide evidence/convincing reply about...
![Failure of Assessee to provide Evidence/Convincing reply about Goods received: ITAT made disallowance of 5% on account of Profit element [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-of-Assessee-Evidence-Convincing-reply-Goods-received-ITAT-made-disallowance-account-of-Profit-element-TAXSCAN.jpg "Failure of Assessee to provide Evidence/Convincing reply about Goods received: ITAT made disallowance of 5% on account of Profit element [Read Order]")
Failure to appear Before CIT(A) in spite of sending six notices: ITAT imposes Cost of ₹5,500 on Assessee [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench directed to deposit Rs. 5500/- in Prime Minister relief Fund due to failure to comply with the notice issued by the CIT(A) to substantiate...
![Failure to appear Before CIT(A) in spite of sending six notices: ITAT imposes Cost of ₹5,500 on Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Failure-Failure-to-appear-Before-CITA-in-spite-of-sending-six-notices-CITA-notices-taxscan.jpg "Failure to appear Before CIT(A) in spite of sending six notices: ITAT imposes Cost of ₹5,500 on Assessee [Read Order]")