ITAT Kolkata ruled that the assessee’s double addition in the tax audit was a genuine error, dismissing Revenue’s appeal for AY 2021-22.
The ITAT Kolkata quashed a penalty on a taxpayer, ruling that a one-time settlement from an employer was a capital receipt. The court held that no concealment of income occurred as the amount was disclosed in the tax return.
The ITAT Kolkata dismisses the Revenue’s appeal, ruling that a ₹1.59 crore addition for alleged bogus sales was unfounded, as the company provided substantial evidence including e-way bills and bank statements.
The ITAT dismisses a tax addition on Hitesh Trading Company, finding the Assessing Officer’s estimation of a higher gross profit was arbitrary and lacked legal justification.
ITAT deleted an addition of ₹3.80 lakh made towards leave encashment under Section 43B, ruling that the Commissioner of Principal Commissioner (CPC) had no jurisdiction to make the addition.
Flywire Payments Corporation wins ITAT Kolkata appeal; payments from Muthoot Forex not considered royalty. Tribunal directs verification of US tax returns.
ITAT Kolkata quashes reassessment as escaped income was under ₹50L. Notice u/s 148 held invalid for being issued after 6 years from relevant AY.
Kolkata ITAT ruled that a late-filed audit report is a procedural lapse, not a reason to deny an educational society’s tax exemption under Section 10(23C).
ITAT Kolkata cancels a Section 144 assessment, ruling that the foundational Section 143(2) notice was invalid for failing to comply with mandatory CBDT instructions on scrutiny formats and jurisdictional limits.
ITAT Kolkata upholds Rs.17.10 crore penny stock addition against Narayan Suppliers Pvt Ltd, flags money laundering, and directs case referral to ED and CBI for further probe.
