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Assessment Quashed for Want of Pecuniary Jurisdiction: Invalid Notice under Section 143(2) Issued by Non-Jurisdictional Assessing Officer – ABC India Limited vs. DCIT, Circle-11(1), Kolkata (ITAT)
Facts of the CaseThe
assessee, ABC India Limited, filed its return of income for Assessment Year
2015-16 on 29.09.2015 declaring nil income. The case was selected for scrutiny
and notice under Section 143(2) dated 28....
Ex Parte Dismissal for Delay Set Aside and Matter Remanded Where Salary Income Was Erroneously Reported Due to Clerical Mistake: Shreya Dey Sarkar vs. ITO (ITAT Kolkata)
Facts of the CaseThe assessee, an individual salaried employee working in the software
development domain, filed her return of income for Assessment Year 2014-15
declaring total income of ₹4,86,41,526. The return was...
Reassessment Quashed Due to Unsigned Notice under Section 148 and Absence of Failure to Disclose Material Facts: M/s Jagmag Mercantiles Private Limited vs. ITO, Ward-12(1), Kolkata (ITAT)
Facts of the CaseThe
assessee filed its return of income for Assessment Year 2013-14 on 17.10.2013
declaring nil income, which was accepted under Section 143(3) by order dated
30.09.2015. Subsequently, reassessment pr...
Delay Condoned Applying Supreme Court COVID Limitation Extension and Appeal Restored for Merits Adjudication: Jamshed Alam vs. DCIT, Circle-32, Kolkata (ITAT)
Facts of the CaseThe assessee, Jamshed Alam, filed an
appeal before the Commissioner of Income Tax (Appeals), National Faceless
Appeal Centre, Delhi, against the assessment order for Assessment Year 2018-19.
The CIT(A...
Addition on Estimated Commission and CIT(A) Enhancement on Alleged Bogus Purchases Deleted: No Rejection of Books and Genuine E-Way Bills – Rainbow Vanijya Pvt. Ltd. vs. ACIT (ITAT)
Facts of the CaseThe
assessee, Rainbow Vanijya Pvt. Ltd., filed its return of income for Assessment Year
2020-21 on 24.03.2021 declaring a loss of ₹1,97,88,455. The case was selected
for scrutiny on issues relating ...
Bogus Share Transaction Addition under Section 68 Set Aside for Fresh Adjudication: Matter Remanded Due to Non-Consideration of Assessee’s Submissions – Rajkumari Dhanuka vs. ITO (ITAT)
Facts of the CaseThe
assessee, Rajkumari Dhanuka, filed her return of income for Assessment Year
2012-13 on 01.08.2012 declaring total income of ₹13,71,975, including
short-term capital gain of ₹7,03,927. The retu...
Appeal Dismissed for Non-Prosecution Set Aside and Matter Remanded for De Novo Assessment: Gita Sharma vs. ITO, Ward-2(4), Durgapur (ITAT)
Facts of the
CaseThe assessee, Gita
Sharma, is engaged in the business of running a petrol pump under the name and
style of M/s Kamala Filling Station. She filed her return of income for
Assessment Year 2017-18 decla...
Ex Parte Order of CIT(A) Set Aside and Matter Remanded for Fresh Adjudication in Reassessment Based on Estimated Turnover Income: Islander Housing Project Pvt. Ltd. vs. ITO (ITAT Kolkata)
Facts of the CaseThe assessee, Islander Housing Project Private Limited, is a private
limited company which did not file its return of income for Assessment Year
2020-21. The Assessing Officer noticed substantial cash ...
Delay of 189 Days Condoned and Appeal Restored for Merits: Capital Gains Dispute under Section 50C and 54EC Remanded – Rina Ray vs. ITO, Darjeeling (ITAT)
Facts of the CaseThe
assessee, Rina Ray, did not originally file her return of income for Assessment
Year 2018-19. Based on information of high-value transactions, proceedings were
initiated, and the assessee subseque...
Bogus Purchase Addition Set Aside for De Novo Assessment in Interest of Natural Justice: Gyan Prakash Gupta vs. ITO, Ward-43(1), Kolkata (ITAT)
Facts of the CaseThe assessee, an individual, filed his return of income for
Assessment Year 2018-19 on 22.09.2018 declaring total income of ₹17,31,310.
Based on information received through the Insight Portal from t...