CIT(A) Cannot Enhance Income on New Issue – Appeal against Section 143(1) Intimation

Guruji Mercantile Pvt. Limited Vs ITO (ITAT Kolkata) Introduction: The case of Guruji Mercantile Pvt. Limited Vs ITO brought forward by ITAT Kolkata revolved around the controversy over an addition made on an interest receipt. The contention arose when the Commissioner of Income Tax (Appeals) confirmed the addition of Rs.5,64,863/- in the total income of the assessee, Guruji Mercantile Pvt. Limited. The case throws light on the jurisdictional boundaries of tax assessment authorities in India. Analysis: The dispute originated when the CPC made an addition of Rs.5,64,863/-, an interest receipt f...