ITAT Kolkata Deletes Double Addition, Adhoc Disallowance & Notional Interest  

Shyam sunder Kedia Vs DCIT (ITAT Kolkata) Kolkata Tribunal granted full relief to the Assessee by deleting additions made towards double taxation of income, adhoc disallowance of car expenses & notional interest on advances. Facts Assessee filed return on 14.02.2022 declaring total income of ₹1,61,820/-. CPC, while processing u/s 143(1) on 08.07.2022, wrongly added ₹3.43 crore under business income, though Assessee had already offered the same under correct heads (dividend, bank interest, partnership income, LTCG, STCG, remuneration, etc.). Subsequently, case was selected for scrutiny ...