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ITAT Kolkata

Latest Posts in ITAT Kolkata

ITAT Kolkata Quashes Reassessment, Invalidates Mechanical Sanction After 4 Years

April 27, 2025 729 Views 0 comment Print

Kolkata ITAT cancels reassessment, rules CIT’s mechanical sanction for reopening after 4 years invalid; upholds assessee’s challenge based on lack of recorded satisfaction.

Documented Share Transactions via BSE Cannot be Taxed as Bogus on Suspicion

April 26, 2025 99 Views 0 comment Print

Kolkata ITAT rules documented share transactions through BSE and registered broker cannot be taxed as bogus based on suspicion; upholds assessee’s evidence.

Genuine Share Transactions Backed by Evidence valid despite Allegations against Broker

April 26, 2025 102 Views 0 comment Print

Kolkata ITAT dismisses revenue’s appeal, upholds CITA order favoring Shaleen Khemani on gifted share sale proceeds, citing lack of evidence.

Share sale proceeds cannot be treated as undisclosed income without evidence

April 26, 2025 81 Views 0 comment Print

Kolkata ITAT rules in favor of Gautam Kumar Pincha, setting aside addition of share sale proceeds as undisclosed income due to lack of evidence.

LTCG exemption cannot be denied on mere generalisation, human probabilities, suspicion, conjectures & surmises

April 26, 2025 138 Views 0 comment Print

ITAT Kolkata rules on Gaurav Pincha’s LTCG claim, deleting additions made under Section 10(38), citing lack of specific evidence and generalised suspicion.

LTCG Exemption Cannot Be Denied on Mere Probabilities Without Legal Evidence

April 25, 2025 2079 Views 0 comment Print

AO could not reject the LTCG Exemption claim based on mere surrounding circumstances or probabilities without presenting any legal evidence against him: ITAT

Genuine LTCG Exemption Cannot Be Denied Based on Suspicion or Conjectures

April 25, 2025 108 Views 0 comment Print

ITAT Kolkata deletes addition under Section 68, accepting LTCG on share sale by Kiran Kothari as genuine, rejecting AO’s reliance on general reports.

No LTCG Addition Without Concrete Evidence, Mere Suspicion Insufficient: ITAT Kolkata

April 22, 2025 255 Views 0 comment Print

Kolkata ITAT permits Minu Gupta’s LTCG exemption claim, citing lack of specific evidence against her despite AO’s reliance on general investigation reports.

ITAT Kolkata Allows LTCG Claim for Lack of Specific Evidence

April 22, 2025 267 Views 0 comment Print

ITAT Kolkata rules in favor of Raj Kumar Kabra’s LTCG claim, stressing the need for specific evidence over general suspicion in tax assessments.

LTCG Cannot Be Treated as Bogus Without Specific Evidence on Mere Suspicion

April 22, 2025 372 Views 0 comment Print

ITAT Kolkata permits Pawan Kumar Kabra’s LTCG claim, emphasizing the need for specific evidence over general suspicion in assessment.

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