![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]")
Passing Intimation u/s 143 without Reasonable Opportunity to Taxpayer Deemed Unlawful: ITAT against AO [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that passing intimation under Section 143 of the Income Tax Act, 1961 without...
![Receipts by Taxpayer cannot be added to Income for Non-Compliance of Summons under Section 131 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Kolkata-ITAT-Income-Tax-Income-Tax-Act-Section-131-of-Income-Tax-Act-ITAT-decision-on-taxpayer-receipts-Taxscan.jpg "Receipts by Taxpayer cannot be added to Income for Non-Compliance of Summons under Section 131 of Income Tax Act: ITAT [Read Order]")
![Revisional Jurisdiction not Invokable on Simple Disagreement with Plausible Views of AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Kolkata-Income-tax-Income-tax-news-Assessing-Officer-taxscan.jpg "Revisional Jurisdiction not Invokable on Simple Disagreement with Plausible Views of AO: ITAT [Read Order]")
![Installment Payments for Immovable property Purchase via cheque on different dates: ITAT deletes Addition u/s 56(2)(x) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Immovable-property-Cheque-Based-Property-taxscan.jpg "Installment Payments for Immovable property Purchase via cheque on different dates: ITAT deletes Addition u/s 56(2)(x) [Read Order]")
![Depreciation Must be Removed While Calculating Net Margin: ITAT Remands Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Kolkata-ITAT-Income-Tax-ITAT-Decision-on-Depreciation-Removal-ITAT-Net-Margin-Calculation-Guidelines-Taxscan.jpg "Depreciation Must be Removed While Calculating Net Margin: ITAT Remands Matter [Read Order]")
Failure to establish Ingredients prescribed u/s 68 of Income Tax Act : ITAT upholds addition [Read Order]
The Kolkata  bench Income Tax Appellate Tribunal (ITAT) while confirming the addition made by the assessing officer held that the assessee failed to establish the ingredients prescribed uner...
![Failure to establish Ingredients prescribed u/s 68 of Income Tax Act : ITAT upholds addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Failure-Ingredients-Income-Tax-Act-ITAT-ITAT-upholds-addition-income-tax-itat-kolkata-taxscan.jpg "Failure to establish Ingredients prescribed u/s 68 of Income Tax Act : ITAT upholds addition [Read Order]")
Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that Section 2 (22) of Income Tax cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans. ...
![Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-tax-Company-Loans-Shareholders-TAXSCAN.jpg "Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]")
ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers' Objection [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) dismissed reassessment as Assessing Officer ( AO ) failed to pass assessment Order within 4 weeks from rejection of taxpayers' objection....
![ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers Objection [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Reassessment-AO-Pass-Assessment-Order-Rejection-Taxpayers-Objection-TAXSCAN.jpg "ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers Objection [Read Order]")
Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) has observed that the magnitude of profit is not decisive factor about genuineness of existence of an investee company. The assessee...
![Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Profit-TAXSCAN.jpg "Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]")
ITAT directs to deletes addition made in respect of Capital Gains by adopting the value of property as per DVO Report [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal ( ITAT ) directed to delete additions made in respect of capital gain by adopting the value of property as per DVO report. The Assessee Arijit...
![ITAT directs to deletes addition made in respect of Capital Gains by adopting the value of property as per DVO Report [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Capital-Gains-TAXSCAN.jpg "ITAT directs to deletes addition made in respect of Capital Gains by adopting the value of property as per DVO Report [Read Order]")
Procedure of disposal of appeal with respect to Investment in Equities not in accordance with mandate given u/s 250(6) Income Tax Act: ITAT directs Re adjudication [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal ( ITAT ) while directing the readjudication observed that procedure of disposal of appeal with respect to investment in equities is not in...
![Procedure of disposal of appeal with respect to Investment in Equities not in accordance with mandate given u/s 250(6) Income Tax Act: ITAT directs Re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-tax-Investment-in-equities-Equity-investment-appeal-Equity-investment-taxscan.jpg "Procedure of disposal of appeal with respect to Investment in Equities not in accordance with mandate given u/s 250(6) Income Tax Act: ITAT directs Re adjudication [Read Order]")