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Judicial Member Sanjay...

Additions u/s 68 & 69A made without Examining Books of Accounts: ITAT remands case for Reassessment [Read Order]

Saagarika Gopinath

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the case back to the assessing officer ( AO ) as the additions under...

Contributions to approved Superannuation Fund deductible u/s 36(1)(iv) of Income Tax if within...

ITAT Relieves Cooperative Society of ₹1 Crore Penalty u/s 271E for Loan Repayment in Cash [Read...

ITAT Relies on Jet Airways Judgment: Quashes ₹3.98 Crore Addition for Lack of Original Grounds [Read...

No Incriminating Material Found against Oswal Fab Knits: ITAT deletes Additions [Read Order]

ITAT sets aside Income Tax Addition due to lack of proper persuasion before Authorities, directs Re examination of Egg Traders Account [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) held that the additions made by the Assessing Officer ( AO ) cannot be sustained due to lack of proper persuasion by the appellant before...

ITAT deletes Rs. 19.6 Lakh Addition for AY 2018-19, applying Retrospective 10% Safe Harbour Limit based on Curative Amendment [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the ₹19.6 lakh addition made for AY 2018-19 under Section 56(2)(x)(b) of the Income Tax Act,1961 applying the retrospective 10%...

Purchases Treated as Bogus in Another Year Cannot Solely Justify Similar Treatment for Year Under Consideration: ITAT [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that purchases treated as bogus in one financial year cannot automatically be presumed bogus in another year without sufficient...

ITAT upholds Exemption u/s 10(23C)(iiiab) Despite Late Filing and Incorrect Form Submission [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the exemption under section 10(23C)(iiiab) of the Income Tax Act,1961 despite late filing of the income tax return and the use of an...

Benefit u/s 80G of Income Tax Act Cannot be Denied due to Technical Error in Making Application For Final Approval: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) held that the benefit of Section 80G of the Income Tax Act, 1961 cannot be denied due to technical errors that occurred in making the...

Old Loans Converted into Share Allotment Cannot be Unexplained Money: ITAT deletes Addition under Income Tax Act [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Unexplained money under the Income Tax Act, 1961 as the amount was the old loan converted into share allotment....

Failure to serve Hearing Notice under Income Tax Act invalidates Ex-Parte Order: ITAT [Read Order]

In a significant case, the Kolkata Income Tax Appeallate Tribunal ( ITAT ) held that failure to serve hearing notice under Income Tax Act, 1961 invalidates ex-parte order. The ITAT directed the...

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