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Rajesh Kumar

Issuance of notice u/s 148 of Income Tax Act for Reassessment shall not be made without Reasonable Belief: ITAT [Read Order]

Aparna. M

The Income Tax Appellate Tribunal (ITAT) Kolkata Bench held that the issue of notice under Section 148 of Income Tax Act, 1961 for reopening of...

Assessment order without DIN is Violation of CBDT Circular 2019: ITAT declares order Void ab initio...

ITAT quashes Addition for Unexplained Expenditure made on mere Extrapolation and Presumption [Read...

Accumulated Profits to be arrived after allowing Depreciation as per Income Tax Act and not...

Addition cannot be based SMS or WhatsApp Messages without Corroborative Evidence: ITAT [Read Order]

CGST Rewari Division recovers Rs. 32.71 Cr for violation of Rule 96(10) restricting Refund Claims

The Rewari Division has affected a revenue recovery of Rs 32.60 cr in cash from M/s. HOLLISTER MEDICAL INIDA PRIVATE LIMITED, REWARI, HARYANA, 123501 on 28th last month, said a report from the...

No Disallowance u/s 40a(ia) of Income Tax Act when due Tax has been made by Recipient of Income: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench ruled that no disallowance under Section 40a(ia) of the Income Tax Act, 1961 can be claimed when due tax has been made by recipient of income. ...

Extraordinary Profit cannot be a criterion for Adjustment in Transfer Price: ITAT [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal has held that extraordinary profit cannot be a criterion for adjustment in the transfer price. The assessee, M/s Deepak Industries Ltd. has three...

No Deduction of Profits and Gains from Industrial undertakings u/s 80IA (4) without Notification issued by the Competent Authority: ITAT [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal has held that no deduction of profits and gains from industrial undertakings u/s 80IA(4) without notification issued by the competent authority. ...

ITAT deletes Addition of Rs.24.35 Cr on account of Unexplained Cash Credit [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench deleted the addition of Rs.24.35 Crore on account of Unexplained Cash Credit. The assessee, M/s. Jainam Investments filed its return of...