ITAT Kolkata Allows Partner Salaries, Staff Expenses, & Other Business Costs  

Youth Potent Potation Vs ITO (ITAT Kolkata) Income Tax Appellate Tribunal (ITAT), Kolkata, has ruled in favor of M/s Youth Potent Potation, a liquor trading firm, allowing its appeal against the order of the National Faceless Appeal Centre (NFAC), Delhi, for the Assessment Year 2015-16. The tribunal, in an order pronounced on April 1, 2025, set aside disallowances made by the Assessing Officer (AO) and upheld by the Commissioner of Income-tax (Appeals) [CIT(A)] on multiple grounds, providing relief to the assessee. The initial hurdle was a delay of 20 days in filing the appeal. However, after ...