ITAT Kolkata quashes assessments in absence of incriminating material; DVO’s cost estimate alone held insufficient under Abhisar Buildwell precedent.
ITAT Kolkata held that assumption of jurisdiction to impugned assessment under faceless assessment scheme prior to 29.03.2022 when provisions of section 151A of the Income Tax Act had not come into operation is not sustainable and without jurisdiction. Accordingly, appeal of assessee allowed.
ITAT Kolkata rules Sec 263 cannot exceed reassessment scope, limits revision period. Disallowances u/s 40A(3) sent back for scrutiny.
ITAT Kolkata removes ₹1 crore penalty under Sec 271E, ruling cash transaction between sister concerns as reimbursement, not loan repayment.
Kolkata ITAT allows appeal by Youth Potent Potation, overturning disallowances on partners’ salary, staff expenses, accounting charges, and donations for AY 2015-16.
ITAT Kolkata held AO’s order under Section 144C(13) was passed beyond limitation; quantum appeal allowed, stay application dismissed.
ITAT Kolkata orders AO to remove ₹3.09 crore adjustment, citing CPC error and CIT(A)’s failure to rectify factual mistake in ITR.
ITAT Kolkata overturns CIT(A) order on tribal doctor’s tax exemption, orders re-examination of income sources and bank deposits under Section 10(26).
ITAT Kolkata rules against ad hoc disallowance of indirect expenses by AO in Jinraj Paper Udyog Pvt. Ltd. case, finding no discrepancies in records.
ITAT Kolkata held that provisions of section 56(2)(x) of the Income Tax Act were inserted by Finance Act, 2017 and effective only from 01.04.2017. Thus, provisions of section 56(2)(x) is not applicable when flat is brought prior to 01.04.2017.
