ITAT Kolkata held that huge delay of 388 days on the reason that delay occurred due to death of its Chartered Accountant is not cogent and not acceptable. Thus, condonation denied since sufficient reason to condone delay not explained.
Kolkata ITAT has ruled that an unsigned assessment order is invalid, even if electronically authenticated. ITAT emphasized that signing and authentication are distinct legal requirements.
The ITAT Kolkata deleted a penalty under Section 271(1)(c), finding that an assessee’s retracted admission during a search was not supported by incriminating material.
ITAT Kolkata rules the Finance Act 2022 amendment to Section 14A is prospective. Disallowance for expenses related to exempt income is limited to investments that yield dividends for Assessment Year 2017-18.
ITAT Kolkata quashed an assessment for a society due to two fatal legal flaws: an invalid scrutiny notice and National Faceless Assessment Centre’s lack of jurisdiction to issue a notice before a specific date.
The ITAT Kolkata deleted a double addition of Rs. 3.43 Cr, an ad-hoc expense disallowance, and a notional interest addition, finding the additions to be without legal basis.
ITAT Kolkata rules that a penalty under Section 271AAB cannot be levied if no search has been initiated on the assessee, even if a statement is made under Section 131.
The ITAT Kolkata upheld the deletion of a Rs. 20.25 Cr addition, confirming that unsecured loans received through banking channels were genuine after the lenders’ identities and creditworthiness were verified through their completed assessments.
The ITAT Kolkata quashed an assessment, ruling it was invalid because the scrutiny notice issued under Section 143(2) did not follow the format prescribed by the CBDT.
The ITAT Kolkata quashed a reassessment, ruling that the notice under Section 148 was issued beyond the permissible time limit, making the entire proceeding invalid.
