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ITAT Cuttack

Latest Posts in ITAT Cuttack

Revision u/s. 263 quashed as no loss of revenue involved: ITAT Cuttack

February 15, 2025 48 Views 0 comment Print

ITAT Cuttack held that revisionary proceedings under section 263 of the Income Tax Act is liable to be quashed since assessee is entitled for exemption u/s. 11 and hence twin conditions are not satisfied in as much as there is no loss of revenue.

No Delay in Appeal Filed Within Extended Limitation Period per SC Suo Moto Writ

December 2, 2024 375 Views 0 comment Print

ITAT Cuttack rules no delay in appeal filing under COVID-19 limitation extension. Case remanded to Assessing Officer for readjudication and fresh evidence review.

No Section 271(1)(c) penalty if Quantum Addition Is deleted: ITAT Cuttack

October 27, 2024 555 Views 0 comment Print

ITAT Cuttack dismisses revenue’s appeal, upholding CIT(A)’s decision to delete ₹3.08 crore penalty as the underlying quantum addition no longer exists.

ITAT Deletes ₹16.80 Lakh Addition for SBN Deposits from Liquor Sales

October 27, 2024 450 Views 0 comment Print

Bibekananda Pradhan appeals against CIT(A)’s order; ITAT finds cash deposits during demonetization reasonable, deletes ₹16,80,000 addition.

Wrongful allowance of set off of brought forward loss prejudicial to interest of revenue: ITAT Cuttack

October 18, 2024 171 Views 0 comment Print

ITAT Cuttack held that AO wrongly allowed the set off of brought forward loss and accordingly order of AO is erroneous and prejudicial to the interest of revenue. Accordingly, revisionary jurisdiction u/s. 263 of the Income Tax Act rightly invoked.

Assessment u/s 147 on protective basis could not be made without a substantive assessment

October 17, 2024 849 Views 0 comment Print

As per AO, Shri Birat Chandra Dagara was one of the partner of the assessee firm and had owned the mining lease and submitted the details as per which the assessee was found indulged in the illegal production of iron ore.

Addition of difference of sales declared in P&L and cash book without providing sufficient opportunity untenable

October 14, 2024 522 Views 0 comment Print

ITAT Cuttack held that difference between the sales declared in the profit and loss account and as per the cash book entire added by PCIT without providing sufficient opportunity to reconcile the same. Thus, AO directed to examine the issue.

Non-Receipt of Notices & Disputed Cash Payments: ITAT directs re-adjudication

September 5, 2024 261 Views 0 comment Print

ITAT Cuttack remands Sitaram Fruits Co. case to AO for fresh review due to non-receipt of notices and disputed cash payments. Appeal partly allowed.

ITAT Cuttack Restores Appeal to CIT(A) for Reconsideration Due to Non-Compliance

September 4, 2024 276 Views 0 comment Print

ITAT Cuttack allows restoration of Harichandanpur LAMPS appeal due to non-compliance issues, directing CIT(A) to reconsider with an opportunity to the assessee.

ITAT Remands Case to CIT(A) After Incorrect Return Filing Date Led to Erroneous Dismissal on Limitation Grounds

August 19, 2024 264 Views 0 comment Print

ITAT restores case to CIT(A) as incorrect filing date led to faulty judgment in Emerald Mining Pvt. Ltd. tax dispute.

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