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Reassessment Quashed for Borrowed Satisfaction and Addition under Section 56(2)(x) Deleted on Merits: Naveen Singh vs. DCIT, Circle-1, Jamshedpur (ITAT)
Facts of the
CaseThe assessee, Naveen Singh, filed his return of
income for Assessment Year 2017-18 declaring total income of ₹43,99,340, which
was processed under Section 143(1). Subsequently, the Assessing Officer...
Delay Condoned and Ex Parte Appellate Order Set Aside in the Interest of Substantial Justice: M/s R.P. Singh & Co. vs. DCIT/ACIT, Circle-1, Ranchi (ITAT)
Facts of the
CaseThe assessee, M/s R.P. Singh & Company, filed
an appeal against the order of the Commissioner of Income Tax (Appeals), NFAC,
Delhi dated 20.07.2023 for Assessment Year 2016-17. The appeal before t...
Assessment Proceedings Set Aside for Failure to Bring Legal Representative on Record After Death of Assessee: Late Sabita Prasad vs. ITO, Ward-3(1), Ranchi (ITAT)
Facts of the
CaseThe appeals were filed by the husband and legal
heir of Late Sabita Prasad for Assessment Years 2012-13 and 2013-14 against
orders passed by the appellate authorities. The assessment orders for both
...
Assessment Restored for Fresh Adjudication Due to Non-Cooperation by Assessee with Exemplary Costs: Jharkhand State Food and Civil Supplies Corporation Ltd. vs. DCIT/ACIT, Ranchi (ITAT)
Facts of the
CaseThe assessee, Jharkhand State Food and Civil
Supplies Corporation Limited, filed an appeal against the order of the
Commissioner of Income Tax (Appeals), NFAC, Delhi for Assessment Year 2018-19.
Duri...
Reassessment Quashed for Parallel Proceedings and Absence of Mandatory Notice under Section 143(2): ITO, Ranchi vs. Amba Carbonisation Pvt. Ltd. (ITAT Ranchi)
Facts of the
CaseThe assessee, Amba Carbonisation Pvt. Ltd., is
engaged in the business of manufacturing and trading of smokeless coal and
coke. For Assessment Year 2013-14, the original assessment under Section 143(3...
Appeal Dismissed as Infructuous After Assessment Set Aside under Section 263: Daltonganj Catholic Diocese vs. ITO (Exemptions), Ranchi (ITAT)
Facts of the
CaseThe assessee, Daltonganj Catholic Diocese, filed an
appeal against the order of the Commissioner of Income Tax (Appeals), NFAC,
Delhi, relating to Assessment Year 2016-17. The appeal arose out of an
...
Reopening Beyond Four Years Invalid Without Failure to Disclose Material Facts; Reassessment Quashed for Jurisdictional Defect: ITAT Ranchi in Bishnu Transport Company vs. DCIT
Facts of the CaseThe appeal was
filed by Bishnu Transport Company against the reassessment order passed by the
Assessing Officer under Section 147 read with Section 143(3) of the Income-tax
Act, 1961 for Assessment Ye...
Penny Stock LTCG Cannot Be Treated as Bogus on Suspicion When Documentary Evidence Is Unrebutted: Bijoy Kumar Agarwal vs ACIT (ITAT Ranchi)
Facts of the CaseThe assessee filed his return of income for Assessment
Year 2011–12 declaring total income of ₹5,56,050 from salary and house property
and declaring Long-Term Capital Gain of ₹30,55,833 as exempt...
Contractual Expenses Allowed and Revenue Appeals Dismissed in PSU Case Despite Search on Contractor Group: ACIT vs. Bharat Coking Coal Ltd. (ITAT Ranchi)
Facts of the
CaseThe appeals arose out of cross appeals filed by the
Revenue and the assessee, M/s Bharat Coking Coal Ltd. (a Government of India
PSU), along with cross objections, against orders passed by the CIT(A),...
Ex Parte Reassessment and Appellate Dismissal Set Aside; Matter Restored for Adjudication on Merits in Capital Gains Case – Jagdish Kumar Mahto vs. DCIT/ACIT, Circle-1, Ranchi (ITAT)
Facts of the
CaseThe assessee, Jagdish Kumar Mahto, an individual,
filed his return of income for Assessment Year 2016–17 declaring total income
of ₹10,06,440. During assessment proceedings, the Assessing Officer ...