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.
The ECB purpose was declared to the RBI for both imported and locally sourced capital goods. However, the claim was disallowed under Section 143(1) due to inconsistencies between the tax audit report and the return of income.
ITAT Kolkata quashes reassessment u/s 147, stating that search-based findings must follow Section 153C. Read the full case details and judgment summary.
ITAT Kolkata quashes assessment reopening in Sudha Surana case, citing lack of AO’s application of mind and invalid PCIT approval.
ITAT Kolkata rules in favor of Anindya Sarkar, allowing Foreign Tax Credit despite delayed Form 67 filing, citing DTAA provisions over domestic tax laws.
