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ITAT Cuttack

Cash Deposit Addition of ₹9 Lakh: ITAT Remands With One More Opportunity For Production of Documentary Evidence [Read Order]

Franklin Joshva

The Cuttack Bench of the Income Tax Appellate Tribunal ( ITAT ) restored the appeal of Tapas Kumar Chanda to the Commissionerof Income Tax (Appeals)[...

Addition of ₹99.2L Cash Deposit due to non compliance of Notice to prove source of cash: ITAT Allows...

ITAT restores appeal to CIT(A) over property valuation, Citing assessee's inability to access Notice...

Delay in Filing Income Tax Appeal Due to Personal Problems: ITAT Condones 99 Days Delay [Read Order]

Business Receipts Is Substantiated Source of Cash Deposit: ITAT overturns ₹5.01 Lakh Addition [Read...

Incomplete Submission for Section 80G Registration: ITAT Remands Charitable Trust's Case for Fresh Adjudication [Read Order]

The Cuttack Bench of the Income Tax Appellate Tribunal (ITAT) has remanded to the Commissioner of Income Tax (Exemption) for fresh adjudication for registration under Section 80G of the Income Tax...

“No delay in filing appeal before CIT(A)”: ITAT considers COVID-19 Limitation Extension [Read Order]

In a recent ruling, the Cuttak bench of the Incomed Tax Appeallate Tribunal ( ITAT ) ruled in favour of the assessee and held that there was no delay in filing an appeal before the Commissioner of...

AO Wrongly allowed Posco India's set-off of Brought-Forward Loss of ₹1.4 cr: ITAT directs Disallowance, Citing Adjustments made in Previous Years [Read Order]

The Cuttack Bench of Income Tax Appellate Tribunal ( ITAT ) directed disallowance of set-off of the brought-forward loss of Rs.1,47,26,425 citing that adjustments had already been made in previous...

Assessment u/s 147 of Income Tax Act cannot be made without a Substantive Assessment: ITAT [Read Order]

The Cuttack Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that assessment under Section 147 of the Income Tax Act,1961 cannot be made without a substantive assessment. Birat Chandra...

ITAT deletes ₹58 Lakh Capital Investment addition due to Name Discrepancy of Taxpayer in Records [Read Order]

The Cuttack Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the Rs. 58 Lakh capital investment addition made by the assessing officer (AO) due to a discrepancy in the taxpayer's name in...

ITAT Exempts Penny Stock Transactions u/s 10(38) Due to STT Compliance, Denies AO’s Bogus Transaction Allegations [Read Order]

The Cuttack Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed exemption under Section 10 (38) of the Income Tax Act, 1961, which the Assessing Officer had denied because the share...

'Finds Addition Too Harsh': ITAT directs Re-examination of PCIT's Rs. 3.4 cr Addition due to Sales Discrepancy [Read Order]

The Cuttack Bench of the Income Tax Appellate Tribunal ( ITAT ) found Rs. 3.4 crore addition related to a sale discrepancy excessive and remanded the case to the Principal Commissioner of Income Tax...