ITAT Kolkata remands Indian Chain Pvt. Ltd. tax case to CIT(A), citing error in treating private firm as cooperative society; delay condoned.
Kolkata ITAT quashes tax assessment for AY 2017-18, ruling that Section 143(2) scrutiny notice failed to comply with mandatory CBDT instructions.
ITAT Kolkata dismisses Revenue appeal against Intime Vanijya Private Limited as tax effect on Section 68 addition falls below CBDT’s ₹60 lakh threshold.
ITAT Kolkata rules income addition cannot be based solely on higher stock figures shown to bank for credit vs. audited accounts; deletes addition.
ITAT Kolkata held that CIT(A) accepted additional evidence and allowed the relief u/s. 10(26AAA) of the Income Tax Act without allowing an opportunity of being heard to AO. Therefore, the order of CIT(A) is in contravention of Rule 46A(3) of the I.T. Rules, 1962.
ITAT Kolkata held that loan transaction between holding and subsidiary company done in the normal course of business and out of business/ commercial expediency are outside the scope of deemed dividend.
ITAT Kolkata held non-mentioning of the fact of either limited or complete scrutiny or compulsory manual scrutiny would render issuance of Income Tax notice u/s 143(2) invalid.
ITAT Kolkata rules assessment void due to non-issuance of mandatory notice u/s 143(2) in Sandip Kumar Keshari Vs ITO case.
ITAT Kolkata held that re-assessment proceedings initiated under section 148 of the Income Tax Act without any tangible material and without independent application of mind is not sustainable in law. Accordingly, reassessment is quashed.
ITAT Kolkata allows Vivekananda Mission Asram’s appeal, directing reconsideration of 80G registration despite a technical application error and perceived delay.
