ITAT Kolkata Judgments, Orders & News | Income Tax Appellate Tribunal

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ITAT Kolkata

Explore the latest ITAT Kolkata judgments, orders, and appellate decisions on direct tax matters from the Kolkata bench of the Income Tax Appellate Tribunal

Income Tax Consultant died during COVID-19: ITAT condones 848 days' delay [Read Order]

Gopika V

In a recent ruling, the Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) showed a compassionate approach in condoning a delay of 848 days...

Reopening Invalid Due to Mismatch in Sanctioning Authorities and Lack of Proper Sanction u/s 151:...

Loose Sheets without Third-Party Confirmation Insufficient for Addition u/s 69C: ITAT Directs Profit...

Unexplained Cash Credit Addition u/s 68 unsustainable as Advances from Associate Concern Accepted in...

Breach of Mandatory Time Limits of Seven Days u/s 148A(b) and Three Months u/s 148 Invalidates...

S. 68 Not Attracted as Repayment Established by Banking Channels: ITAT upholds Deletion of ₹2.90 Cr Addition [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal and where an assessee establishes the identity, creditworthiness, and genuineness of a transaction ...

ITAT Deletes S.56(2)(x) Addition, Finds No Basis for Price Suppression in State Govt Sale [Read Order]

The Kolkata Bench Income Tax Appellate Tribunal (ITAT), set aside an addition made under Section 56(2)(x) of the Income Tax Act, 1961, holding that there was no basis to infer suppression of...

AO Must Re-Examine Income After Considering Stock Records: ITAT Remands Addition Based on Survey Statement [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) remanded the addition made during assessment, holding that the Assessing Officer (AO) had relied only on the assessee’s statement during...

ITAT Sets Aside ₹6.90 Cr Share Premium Addition for Non-Consideration of Assessee’s Evidence [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) set aside the addition of ₹6,90,45,000 made under Section 68 of the Income Tax Act, 1961, holding that both the Assessing Officer...

Purchases Cannot Be Disbelieved When Books Not Rejected and Payments Made Through Banking Channels: ITAT Deletes ₹12.73 Cr Addition u/s 69C [Read Order]

ITAT Deletes ₹12.73 Cr Addition as Purchases Backed by Books, Bank Proofs The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) allowed the appeal filed by Pravesh Kumar Jaiswal for...

Extraordinary Delay of 2590 Days without Sufficient Cause Cannot Be Condoned: ITAT Dismisses Appeal Filed by Private Company [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal for the Assessment Year (AY) 2012-13, holding that the delay of 2590 days in filing the appeal could not be condoned...

No Income Tax Leviable on Gift from Brother in Law: ITAT [Read Order]

In a ruling in favour of the assessee, the Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) set aside the Commissioner of Income Tax (Appeals)'s order, holding that the addition of Rs. 80...