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ITAT Kolkata

No issuance of reopening notice on mere suspicion of Bogus Unsecured Loan: ITAT Kolkata

July 16, 2024 1158 Views 0 comment Print

Read the full text of the ITAT Kolkata order in Keshav Shroff Vs ITO (AY 2016-17). Analysis shows why mere suspicion isn’t enough for an IT notice.

Old Loans Converted into Share Allotment Not Unexplained Money: ITAT Kolkata

July 15, 2024 651 Views 0 comment Print

Read ITAT Kolkata’s full text order on Sachdev Steel Pvt. Ltd. Vs ITO. Learn why old loans converted into share allotment were deemed legitimate under the Income Tax Act.

Simply having a different opinion from AO not justify invocation of Section 263

July 13, 2024 1392 Views 0 comment Print

Detailed analysis of the ITAT Kolkata ruling on Shringar Marketing Pvt. Ltd. Vs PCIT, highlighting key arguments, legal precedents, and the final judgment.

No party should be condemned unheard: ITAT Kolkata directs Fresh hearing

July 4, 2024 480 Views 0 comment Print

Read a detailed analysis of the ITAT Kolkata decision in Littlestar Projects Pvt. Ltd Vs ITO. Understand the implications of the ruling and its impact on taxation matters.

Delayed deposit of employees’ contribution to PF/ESI not allowable

July 4, 2024 1818 Views 0 comment Print

Learn about the ITAT Kolkata ruling where employer’s PF contribution disallowance under Sec 36(1)(va) was upheld. Full text of the order included.

Dumping of cart loads of documents does not shift burden of proof to revenue

June 30, 2024 1617 Views 0 comment Print

Read the full text of the ITAT Kolkata order on Bisakha Sales Pvt. Ltd. Vs CIT, covering assessment year 2008-09. Explore the appeal, arguments, and conclusions in this detailed analysis.

ITAT Kolkata deletes Addition for Share Capital of Rs. 1.54 Crore

June 30, 2024 981 Views 0 comment Print

Explore the detailed analysis of ITO Vs Axisline Investment Consultants Pvt. Ltd. case where ITAT Kolkata deleted Rs. 1.54 crore addition for share capital under Section 68.

Share application amount cannot be added twice in payees & recipients’ hands u/s 68  

June 30, 2024 963 Views 0 comment Print

ITAT Kolkata held in ITO Vs Happy Structure Pvt. Ltd.  that share application amount cannot be added twice under Section 68 of Income Tax Act in in payees & recipients’ hands u/s 68  

Section 68 addition based on conjectures & surmises not justified: ITAT Kolkata

June 30, 2024 1329 Views 0 comment Print

Satyam Smertex pvt. Ltd. Vs DCIT (ITAT Kolkata): Addition made by AO and confirmed by CIT(A) are based on conjectures and surmises, so their impugned action cannot be justified.

Disallowance post Form 10CCB filing is debatable & not permissible u/s 143(1)

June 27, 2024 1659 Views 0 comment Print

Discover the ITAT Kolkata ruling on Surendra Steels vs DCIT, addressing the disallowance of 80IC deduction due to procedural issues and audit report delays.

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