Explore ITAT Kolkata’s ruling on no addition for share capital & premium from group companies with common directors/shareholders. Detailed analysis & conclusion
ITAT Kolkata’s order in ITO Vs Indus Realty Pvt. Limited – Mere suspicion or disbelief on the part of Assessing Officer is insufficient to justify additions under Section 68. The identity, creditworthiness, and genuineness of transactions must be thoroughly evaluated and substantiated with concrete evidence.
Explore the detailed analysis of the ITO vs. RKB Services Pvt. Ltd. case by ITAT Kolkata. Learn about the implications for share capital additions under Section 68 of the Income Tax Act.
Mere reliance on statements without corroborative evidence and denying cross-examination rights cannot justify additions for share capital and share premium under Section 68
Read about Wisley Real Estate Pvt. Ltd Vs ITAT Kolkata. Detailed analysis of the case where creditworthiness of share subscribers was proven, resulting in deletion of Rs. 1,76,87,500/- addition under section 68 of IT Act.
ITAT Kolkata grants exemption registration to Income Tax Bar Association Calcutta, overturning CIT’s decision. Read the full details of the tribunal’s order here.
ITAT Kolkata quashes notice under Section 148 as AO fails to verify credible information. Insightful analysis of R.S. Darshan Singh Motor Car Finance Pvt. Ltd. Vs ITO.
In the case of Wellman Logistics Pvt. Ltd Vs ACIT, ITAT Kolkata deletes income tax addition u/s 68, proving creditworthiness of share subscribers and genuineness of transactions with supported documents.
In Purnasons Pvt. Ltd vs. ITO, ITAT Kolkata rules on the allowance of deductions under Section 80M of the Income Tax Act when dividends are distributed within the due date.
Read the detailed analysis of Kolkata ITAT’s ruling allowing deduction under Section 80M of the Income Tax Act for dividends distributed by Purnasons Pvt Ltd vs ITO.
