Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Reopening Quashed for Want of Prior Sanction under Section 151(2): Notice under Section 148 Issued Before Approval Held Invalid – Anusua Ghosh vs. ACIT (ITAT Kolkata)
Facts of the
CaseThe assessee filed
her return of income for Assessment Year 2014-15, which was originally
processed. The Assessing Officer issued a notice under Section 148 dated
29.03.2019 proposing reopening of th...
Addition Based Solely on Retracted Survey Statement and Dumb Document Deleted: Revenue Appeal Dismissed – DCIT vs. Sujit Arya (ITAT Kolkata)
Facts of the CaseThe
assessee, Sujit Arya, is engaged in the business of transportation of goods. A
survey under Section 133A was conducted at his business premises on 08.11.2013
during which certain documents were im...
Delay of 909 Days Condoned and Appeal Restored for Fresh Adjudication: SD Rai Prayas Educational Trust vs. ITO, Ward-50(1), Kolkata (ITAT)
Facts of the CaseThe
assessee, SD Rai Prayas Educational Trust, filed an appeal against the
assessment order for Assessment Year 2020-21 before the CIT(A). The appeal was
dismissed in limine by the CIT(A) on account o...
Addition Set Aside Due to Double PAN and Matter Restored for Fresh Verification: Sandhya Das vs. Income Tax Officer, Siliguri (ITAT)
Facts of the CaseThe
assessee, Sandhya Das, filed an appeal against the order passed by the CIT(A),
NFAC for Assessment Year 2017-18. The appeal before the Tribunal was delayed by
60 days, which was duly explained. Du...
Ad-hoc Disallowance of Business Expenses Deleted Where No Penal Action or Prohibition under Law: Self-Made Vouchers Not Sufficient Ground – Aadarsh Laddha (L/H) vs. ITO (ITAT)
Facts of the CaseThe
assessee, Aadarsh Laddha, legal heir of late Kailash Chand Laddha, filed the
return of income for Assessment Year 2016-17 on 21.09.2016 declaring total
income of ₹10,55,930. The case was selecte...
Estimated Income under Section 145(3) Reduced by Deducting Declared Business Income: Assessee Entitled to Set-Off of Returned Profit – Ashok Prasad Gupta vs. ITO (ITAT)
Facts of the CaseThe
assessee, an individual engaged in the country liquor business, filed his
return of income for Assessment Year 2017-18 on 04.01.2017 declaring total
income of ₹3,97,510. The case was selected fo...
Addition under Section 68 Deleted Where Identity, Creditworthiness and Genuineness Established: Pancham Marketings Pvt. Ltd. vs. DCIT, Circle-5(1), Kolkata (ITAT)
Facts of the CaseThe
assessee, Pancham Marketings Pvt. Ltd., filed its return of income for
Assessment Year 2022-23 on 30.09.2022 declaring total income of ₹21,96,23,000
and book profit under Section 115JB of ₹21,...
Bogus Sale Addition Remanded to Avoid Double Taxation and Reassessment for AY 2015-16 Quashed as Time-Barred: Nezone Tubes Limited vs. DCIT (ITAT)
Facts of the CaseThe
assessee, Nezone Tubes Limited, is engaged in the business of manufacturing
M.S. Pipes and Galvanized Pipes. For Assessment Year 2011-12, the assessee
filed its return declaring total income of â‚...
Section 14A Disallowance and Ad-hoc Expense Disallowances Set Aside: Matter Remanded for Fresh Examination – Century Commotrade Pvt. Ltd. vs. ITO, Kolkata (ITAT)
Facts of the CaseThe
assessee, Century Commotrade Private Limited, filed its return of income for
Assessment Year 2013-14 on 26.09.2013 declaring total income of ₹17,08,950. The
case was selected for scrutiny and no...
Addition under Section 68 on Share Capital and Premium Deleted for AY 2008-09: Proviso to Section 68 Not Retrospective – Abhiruchi Marketing Pvt. Ltd. vs. ITO (ITAT)
Facts of the CaseThe
assessee, Abhiruchi Marketing Pvt. Ltd., filed its return of income for
Assessment Year 2008-09 declaring total income of ₹157. The case was initially
processed under Section 143(1) and subseque...