ITAT Kolkata rules on property valuation under Section 56(2)(vii)(b) and jurisdiction in limited scrutiny cases for AY 2014-15, allowing Nisha Gupta’s appeal.
ITAT Kolkata held that expenditure towards sales promotion expenses allowed as deduction under section 37(1) of the Income Tax Act since bills along with other evidences related to the same is duly produced. Accordingly, appeal allowed.
ITAT Kolkata held that condonation of delay in filing of an appeal is liable to be allowed as sufficient cause shown. Accordingly, order of CIT(A) set aside and matter restored back for fresh adjudication.
ITAT Kolkata deletes ₹8.27 lakh addition under Section 69A, ruling cash deposits belonged to Seva Kendra, not the assessee. Penalty also set aside.
Present appeals filed by assessee before CIT (A) against the order passed u/s 143 (1). It is the case of the assessee had been allotted two PANs since AY 2002-03 and the assessee filed income tax return under one PAN No. and Second PAN was inactive
ITAT Kolkata rules that no additions can be made in completed assessments under section 153A without incriminating material seized during the search.
In the abovementioned matter ITAT remanded the matter to AO after observing that assessee failed to apply under rule 46 A (Additional Evidence) of the IT Rules.
ITAT Kolkata upholds CIT(A)’s decision to delete ₹3.92 crore additions under Section 41(1), ruling no cessation of liabilities in AY 2014–15 for Shreekrishan Goswami.
ITAT Kolkata remands case of Prakash Bhalotia to AO for fresh order, citing lack of opportunity to present evidence in AY 2017–18 case of unexplained cash deposits.
Raj Kumar Agarwal HUF’s appeal against penalty under Section 271(1)(c) dismissed as withdrawn under the Vivad Se Vishwas Scheme, 2024.
