ITAT Kolkata rules that provisional registration under Section 12A is deemed regular. CIT (Exemptions) vs Indira Trust case clarifies procedural confusion.
ITAT Kolkata invalidates reassessment of Neena Commercial Pvt. Ltd. due to vague reasons and lack of jurisdiction for new additions. Legal precedents cited.
ITAT Kolkata rules in favor of Kishore Trading Co., declaring the reassessment under Section 147 invalid due to lack of independent verification.
ITAT Kolkata held that mere non-production of director cannot be the ground for making any addition in the hands of assessee under section 68 of the Income Tax Act. Accordingly, appeal of the revenue dismissed.
ITAT Kolkata dismisses Nikhil Commosales Pvt. Ltd.’s appeal, permitting revival if the assessee’s application under the Vivad Se Vishwas Scheme 2024 is unsuccessful.
ITAT Kolkata rules that cash withdrawals from a bank account cannot justify reassessment. The assessment was quashed, confirming the taxpayer’s right to use their funds.
ITAT Kolkata clarifies Section 14A disallowance limits, deletes notional income addition for unsold flats (AY 2014-15), and remands interest expense and unexplained expense issues.
ITAT Kolkata invalidates reassessment in Pradip Kumar Jajodia HUF case, citing lack of tangible evidence for alleged bogus LTCG on penny stock transactions.
ITAT Kolkata partly allows Amarlal Bathija’s appeal, remanding unexplained credit addition and deleting arbitrary disallowance of business expenses.
ITAT Kolkata remands Terai Fruits Co. penalty case, citing substantive compliance with Section 270AA despite missing Form 68. Court emphasizes need to determine misreporting under Section 270A(9).
