![Reopening Assessments Beyond Four Years Requires AO to Prove Non-Disclosure of Material Facts by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/ITAT-ITATDelhi-section-148-of-Income-Tax-Act-Income-Tax-ITAT-Quashes-Reopening-Income-Tax-Appellate-Tribunal-taxscan.jpg "Reopening Assessments Beyond Four Years Requires AO to Prove Non-Disclosure of Material Facts by Assessee: ITAT [Read Order]")
Reopening Assessments Beyond Four Years Requires AO to Prove Non-Disclosure of Material Facts by Assessee: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) held that reassessment proceedings initiated after four years under Section 147 of the...
![Recall Plea Unjustified as Reassessment was already Quashed: ITAT Rejects Revenue’s Miscellaneous Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/ITAT-ITAT-Kolkata-ITAT-rejects-revenues-application-TAXSCAN.jpg "Recall Plea Unjustified as Reassessment was already Quashed: ITAT Rejects Revenue’s Miscellaneous Application [Read Order]")
![ITAT Remands Case for Fresh Hearing Despite Assessee Fails to Respond to Notices Four Times, w/o any Reasons [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/ITAT-fresh-hearing.webp "ITAT Remands Case for Fresh Hearing Despite Assessee Fails to Respond to Notices Four Times, w/o any Reasons [Read Order]")
![Loans from Subsidiary to Holding Company not Deemed Dividend u/s 2(22)(e) When Transactions are Part of Consistent Business Practice: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/Loans-Subsidiary-Holding-Company-taxscan.jpg "Loans from Subsidiary to Holding Company not Deemed Dividend u/s 2(22)(e) When Transactions are Part of Consistent Business Practice: ITAT [Read Order]")
![Sikkimese Identity Alone Not Sufficient for S.10(26AAA) Exemption, All Conditions Must Be Verified: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/Undue-Benefit-Tax-Payer-Tax-ITAT-Taxscan.jpg.webp "Sikkimese Identity Alone Not Sufficient for S.10(26AAA) Exemption, All Conditions Must Be Verified: ITAT [Read Order]")
No Income Tax Addition can be made Solely Based on Hypothecated Stock Disclosure to Bank: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) ruled that income additions cannot be made solely based on the difference between stock disclosed to a bank and that recorded in audited...
![No Income Tax Addition can be made Solely Based on Hypothecated Stock Disclosure to Bank: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/BANK-ITAT-TAXSCAN.jpg "No Income Tax Addition can be made Solely Based on Hypothecated Stock Disclosure to Bank: ITAT [Read Order]")
Reassessment without Tangible Material Invalid: ITAT deletes Rs.10 Lakh Cash Credit Addition [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) deleted an addition of Rs. 10 lakh made under Section 68 of the Income Tax Act, 1961, holding that the reassessment was carried out...
![Reassessment without Tangible Material Invalid: ITAT deletes Rs.10 Lakh Cash Credit Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/Reassessment-Tangible-Material-Invalid-ITAT-Cash-Credit-taxscan.jpg "Reassessment without Tangible Material Invalid: ITAT deletes Rs.10 Lakh Cash Credit Addition [Read Order]")
Assessment Proceedings u/s 151A and SCN Passed without Jurisdiction: ITAT quashes NFAC’s orders [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) quashed the orders passed by the National Faceless Assessment Centre’s orders as the latter observed that the assessment proceedings...
![Assessment Proceedings u/s 151A and SCN Passed without Jurisdiction: ITAT quashes NFAC’s orders [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/ITAT-ITAT-Kolkata-ITAT-quashes-NFAC-orders-Section-151A-Income-Tax-Act-TAXSCAN.jpg "Assessment Proceedings u/s 151A and SCN Passed without Jurisdiction: ITAT quashes NFAC’s orders [Read Order]")
CIT(A) failed to consider Factual Mistake Committed by CPC: ITAT Directs AO to Delete Adjustment of Rs. 3.09 Crore [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer to delete the adjustment of Rs. 3.09 crores as the Commissioner of Income Tax (Appeals) [CIT(A)] failed to...
![CIT(A) failed to consider Factual Mistake Committed by CPC: ITAT Directs AO to Delete Adjustment of Rs. 3.09 Crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/ITAT-ruling-Income-Tax-appeal-CPC-mistake-taxscan-.jpg "CIT(A) failed to consider Factual Mistake Committed by CPC: ITAT Directs AO to Delete Adjustment of Rs. 3.09 Crore [Read Order]")
Disallowance of ₹5.11 Crore Forex Loss on ECB Settlement: ITAT Restores Matter to AO [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) restored the issue of ₹5.11 crore forex fluctuation loss on the settlement of External Commercial Borrowings (ECB) to the Assessing Officer...
![Disallowance of ₹5.11 Crore Forex Loss on ECB Settlement: ITAT Restores Matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-ITAT-Kolkata-Disallowance-of-Forex-Loss-TAXSCAN.jpg "Disallowance of ₹5.11 Crore Forex Loss on ECB Settlement: ITAT Restores Matter to AO [Read Order]")
TPO’s Rejection of CUP Analysis Despite DRP Directions: ITAT Deletes Transfer Pricing Adjustment [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) deleted the transfer pricing adjustment after Transfer Pricing Officer (TPO)’s rejection of CUP analysis despite Dispute Resolution Panel...
![TPO’s Rejection of CUP Analysis Despite DRP Directions: ITAT Deletes Transfer Pricing Adjustment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-ITAT-Kolkata-TPO-Transfer-pricing-officer-Income-tax-news-TAXSCAN.jpg "TPO’s Rejection of CUP Analysis Despite DRP Directions: ITAT Deletes Transfer Pricing Adjustment [Read Order]")