Where notice was not issued by assessing officer under section 143(2) before passing order under section 143(3) read with section 147, assessment made by him was bad in law. Provisions of section 292BB are not applicable where there is failure to issue notice under section 143(2).
The Assessee is a company. It is engaged in the business of growing and manufacturing and selling of tea. The assessee’ s tea estate is located at Harishnagar Tea Estate, P.O.Harishnagar via Bhishalgarh Vill.Gokul Nagar District Sepahijala, Tripura West – 799102. During the previous year a portion of the assessee’s tea plantation comprising of land together with tea gardens thereon was acquired
Even though the net profit / loss arising from the purchase and sale of securities was disclosed by the assessee in the profit and loss account, the value of such securities held by the assessee was fully and truly disclosed by the assessee under the head investment in the relevant balance sheet.
This is an appeal filed by the assessee against the order of Ld. CIT(A)-6, Kolkata dated 13.01.2017 for AY 2011-12. The first issue raised by the assessee is against the action of the Ld. CIT(A) in confirming the addition of Rs.10,747/- which was made by the AO as donation and subscription account.
This appeal by the Assessee arises out of the order of the Learned Principal Commissioner of Income Tax -1, Kolkata [in short the ld CIT] in M.No. Pr. CIT-1/Kol/Revision u/s. 263/2016-17/13718-21 dated 16.02.2017 passed u/s 263 of the Act against the order passed by the DCIT
These are appeals by the assessee against two orders both dated 25-2-2016 of C.I.T. (Exemptions), Kolkata (i) passed under section 12AA(3) of the Income Tax Act, 1961 withdrawing/cancelling the registration with effect from 1-4-2012
1. The argument of the assessee in this case is that the selection for scrutiny of this case manually done by the Assessing Officer is bad in law and that the Commissioner of Income Tax has granted approval for selection of this case for scrutiny by the AO without application of mind. Ld. Counsel for […]
Reference made to DVO under section 55A on the ground that value declared by assessee, as per Government registered valuer’s report was more than FMV, was not justified as AO could make reference to DVO only when he was of the opinion that value claimed in the registered valuer’s report was less than the fair market value.
This appeal by the Revenue is directed against the order of Commissioner of Income Tax (Appeals)-XX, Kolkata dated 28.08.2014. Assessment was framed by ACIT, Range-3, Kolkata u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred to as the Act) vide his order dated 11.01.2013 for assessment year 2007-08. The grounds raised by the Revenue per its appeal are as under
Arnab Bose Vs DCIT (ITAT Kolkata) In the instant case, the employer has directly credited the salary, for services rendered outside India, into the NRE bank account of the seafarer in India. In our considered opinion, the aforesaid Circular is vague in as much as it does not specify as to whether the Circular covers […]
