![No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Addition-Undisclosed-Contract-Receipt-Contract-Receipt-Business-of-Purchase-and-Sale-of-Fish-Purchase-and-Sale-of-Fish-ITAT-Deletes-the-Addition-ITAT-Taxscan.jpg "No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]")
No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no addition can be made to an undisclosed contract receipt...
![Computation of Income resulting in Higher Income is only Difference of Opinion: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Income-Higher-Incom-ITAT-Penalty-TAXSCAN.jpg "Computation of Income resulting in Higher Income is only Difference of Opinion: ITAT deletes Penalty [Read Order]")
![No Disallowance on Assumption of getting Future Tax Free Income from Investment made by assesee : ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/ITAT-Kolkata-Disallowance-Tax-Free-Income-assesee-Commissioner-of-Income-Tax-taxscan.jpg "No Disallowance on Assumption of getting Future Tax Free Income from Investment made by assesee : ITAT deletes Addition [Read Order]")
![Donations to Registered Trusts Allowable as CSR Expenses u/s 80G of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Donations-Registered-Trusts-Trusts-CSR-Expenses-CSR-Expenses-Income-Tax-Act-ITAT-Income-Tax-taxscan.jpg "Donations to Registered Trusts Allowable as CSR Expenses u/s 80G of Income Tax Act: ITAT [Read Order]")
![Penalty u/s 271(1)(c) of Income Tax Act Not Leviable on Deletion of Quantum Addition by Tribunal: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Penalty-Income-Tax-Act-Income-Tax-Deletion-of-Quantum-Addition-Quantum-Addition-Addition-Tribunal-ITAT-Taxscan.jpg "Penalty u/s 271(1)(c) of Income Tax Act Not Leviable on Deletion of Quantum Addition by Tribunal: ITAT [Read Order]")
![Relief to PWC: ITAT direct Re-Adjudication on Income Tax Penalty Cases [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/PwC-ITAT-Re-Adjudication-Income-Tax-Penalty-TAXSCAN.jpg "Relief to PWC: ITAT direct Re-Adjudication on Income Tax Penalty Cases [Read Order]")
![Appeal filed after 4 Years cannot be Condoned without Valid Reason: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Appeal-Condoned-Valid-Reason-ITAT-TAXSCAN.jpg "Appeal filed after 4 Years cannot be Condoned without Valid Reason: ITAT [Read Order]")
Trading Liabilities incurred with Corresponding Purchases cannot be the subject matter of Addition u/s 68: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that trading liabilities incurred with corresponding purchases cannot be the subject matter of addition under section 68 of the...
![Trading Liabilities incurred with Corresponding Purchases cannot be the subject matter of Addition u/s 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Trading-Liabilities-incurred-Corresponding-Purchases-ITAT-TAXSCAN.jpg "Trading Liabilities incurred with Corresponding Purchases cannot be the subject matter of Addition u/s 68: ITAT [Read Order]")
![No Reassessment in absence of failure to fully & truly disclose all material facts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/No-Reassessment-in-absence-of-failure-to-fully-truly-disclose-all-material-facts-ITAT-TAXSCAN.jpg "No Reassessment in absence of failure to fully & truly disclose all material facts: ITAT [Read Order]")
Objection to Scheme of Amalgamation can raise only before sanctioning by High Court: ITAT allows adjustment on Business Loss and set off of Capital Loss [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that an objection to scheme of Amalgamation can raise only before sanctioning by High Court and allowed adjustment on business...
![Objection to Scheme of Amalgamation can raise only before sanctioning by High Court: ITAT allows adjustment on Business Loss and set off of Capital Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Capital-Loss-Business-Loss-Scheme-of-Amalgamation-Amalgamation-High-Court-ITAT-Income-Tax-taxscan-.jpg "Objection to Scheme of Amalgamation can raise only before sanctioning by High Court: ITAT allows adjustment on Business Loss and set off of Capital Loss [Read Order]")
GST paid on Sale of byproduct of Coal and total purchase price collected as a middleman cannot be added u/s 68: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal has held that GST paid on the sale of the byproduct of coal and total purchase price collected as a middleman cannot be added u/s 68 of the Income...
![GST paid on Sale of byproduct of Coal and total purchase price collected as a middleman cannot be added u/s 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/GST-Coal-middleman-ITAT-TAXSCAN.jpg "GST paid on Sale of byproduct of Coal and total purchase price collected as a middleman cannot be added u/s 68: ITAT [Read Order]")
Foundation for Levy of Penalty is on Addition made of Concealment of Income, No Penalty u/s 271(1)(c) imposable in the Absence of Addition: ITAT [Read Order]
Foundation for levy of penalty is on addition made of concealment of income, the Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has held that no penalty u/s 271(1)(c) of the Income Tax...
![Foundation for Levy of Penalty is on Addition made of Concealment of Income, No Penalty u/s 271(1)(c) imposable in the Absence of Addition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Penalty-Addition-Concealment-Income-Penalty-ITAT-TAXSCAN.jpg "Foundation for Levy of Penalty is on Addition made of Concealment of Income, No Penalty u/s 271(1)(c) imposable in the Absence of Addition: ITAT [Read Order]")