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ITAT Ahmedabad in Jentibhai Shambhubhai Prajapati v. ACIT Holds Section 150(1) Cannot Revive Time-Barred Assessments Quashed under Section 153C — Jurisdictional Defects Are Incurable
Facts of the CaseThe assessee was subjected to
assessment proceedings under section 153C read with section 144 of the
Income-tax Act, 1961 for Assessment Years 2011-12 to 2014-15 and 2016-17,
pursuant to a search cond...
Addition under Section 68 on Share Capital and Premium Deleted Where Identity, Creditworthiness and Genuineness Established: Goldmoon Exports Pvt. Ltd. vs. ITO, Ward-6(2), Kolkata (ITAT)
Facts of the CaseThe
assessee, Goldmoon Exports Pvt. Ltd., filed its return of income for Assessment
Year 2012-13 on 30.09.2012 declaring total income of ₹12,963. The return was
processed under Section 143(1) and th...
Foreign Tax Credit Cannot Be Denied for Delayed Filing of Form 67: DTAA Benefits Override Procedural Lapses – Vaibhav Das Mundhra vs. ADIT, CPC, Bengaluru (ITAT Kolkata)
Facts of the CaseThe assessee, an individual resident and ordinarily resident in India,
was employed with a Singapore-based company and earned salary income taxable
both in India and Singapore during Assessment Year 20...
Addition Deleted for Clerical Error in Tax Audit Report: CPC Adjustment under Section 143(1) Set Aside – Concord Fortune Minerals India Pvt. Ltd. vs. ACIT, Circle-11(1), Kolkata (ITAT)
Facts of the CaseThe
assessee, Concord Fortune Minerals India Pvt. Ltd., filed its return of income
for Assessment Year 2017-18 on 29.11.2017 declaring total income of ₹18,74,280.
The assessee is engaged in the busi...
Ex Parte Dismissal by CIT(A) Set Aside and Appeal Restored for Fresh Adjudication for Bogus Purchase Addition under Section 69C: Sultania Realtors Pvt. Ltd. vs. ITO (ITAT Kolkata)
Facts of the CaseThe assessee, Sultania Realtors Pvt. Ltd., filed its return of income
for Assessment Year 2018-19 on 31.10.2018 declaring nil income. The assessment
was reopened under Section 147 based on information ...
Assessment Quashed Due to Invalid Notice under Section 143(2) Issued by Non-Jurisdictional AO: APE Power Pvt. Ltd. vs. DCIT, Circle-7(1), Kolkata (ITAT)
Facts of the CaseThe
assessee, APE Power Pvt. Ltd., filed its return of income for Assessment Year
2015-16 on 29.09.2015 declaring total income of ₹49,24,210. The case was
selected for scrutiny under CASS and notice...
Reassessment Notice under Section 148 Held Valid under TOLA but Appeal Restored for Fresh Adjudication for Lack of Opportunity: Smt. Sneha Brahma (LR of Late Shyamal Kumar Brahma) vs. ITO (ITAT Kolkata)
Facts of the CaseThe assessee, an individual, had originally filed a return for
Assessment Year 2013-14 declaring income of ₹23,090. Subsequently, the
Assessing Officer noted substantial cash deposits of ₹2,98,73,5...
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...