The ITAT Kolkata deleted additions on expenses, purchases, and work-in-progress for Axora Resources, ruling that ad hoc disallowances without rejecting the books of accounts are unsustainable.
The Income Tax Appellate Tribunal (ITAT) in Kolkata has ruled in favor of Surya Agro Products Pvt. Ltd., invalidating a tax assessment for the Assessment Year 2012-13.
The ITAT in Kolkata set aside a ₹9.32 crore tax addition on share sales by Superdeal Resources, ruling that well-documented transactions are not bogus. The order underscores the need for substantive evidence over suspicion.
The ITAT in Kolkata ruled that tax claims cannot be denied on technicalities when documentation is on record. The case of Ambika Metaliks highlights the importance of fairness.
Srijan Charitable Trust Vs ITO (Exemption) (ITAT Kolkata) Background Srijan Charitable Trust, registered u/s 12A, filed return of income for AY 2011-12 declaring nil income. The case was reopened u/s 147 based on a survey u/s 133A (27.01.2015) in the case of Herbicure Health Care Bio-Herbal Research Foundation, whose director admitted that donations given by […]
TAT Kolkata reverses Rs.1.33 crore tax addition on Sati Saw Mill’s cash deposits, holding that the money was accounted business receipts.
In the case of SREI Equipment Finance Limited, the ITAT Kolkata delivered a mixed ruling, allowing a deduction under Section 80G for a CSR donation and providing MAT relief for a special reserve created under Section 36(1)(viii).
ITAT Kolkata held that an assessment based on a defective notice u/s 143(2) is invalid. Since the notice was not in CBDT’s prescribed format, the assessment order was quashed.
The ITAT Kolkata ruled that an employee is entitled to full TDS credit even if their employer failed to deposit the tax. The ruling emphasizes that the remedy lies against the employer.
ITAT Kolkata sets aside a ₹1.45 crore tax addition against Rajal Lefin & Commercial, citing a cryptic assessment order and dismissal of appeal on procedural grounds. The case is remanded for a fresh hearing, emphasizing the principle of natural justice.
