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1. Key legal issues and the Tribunal's holdings: Agricultural land sold by assessee situated beyond municipal limits cannot be treated as capital asset u/s 2(14). Addition...

2. The assessment reopening u/s 147 read with Section 148 was found to be unsustainable due to the lack of independent application of mind by the Commissioner of Income Tax...

3. Correct head of income - compensation received for vacating the flat - While the assessee argued for capital gain treatment, the Revenue contended it should be...

4. The crux of the case revolves around the applicability of Section 69A read with Section 115BBE of the Income Tax Act on the addition made by the Assessing Officer (AO)...

5. Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

6. IT, Estimation of income without rejecting books of accounts is arbitrary, addition made by AO deleted

7. The High Court held that the Principal Commissioner of Income Tax (PCIT) lacked jurisdiction to pass an order u/s 263 of the Income Tax Act in this case. The Assessing...

8. In the present case, the Assessing Officer (AO) disallowed the expenditure claimed u/s 57(iii) of the Income Tax Act on an ad-hoc basis. The AO did not challenge the...

9. Revision u/s 263 by CIT - substantial increase in the capital account - In the present case the Ld. Pr. CIT on the one hand mentioned that the assessee did not provide...

10. The assessee made investments in two firms by purchasing cold storage units funded by M/s. A.R. Constructions, where the assessee is a managing partner. The source for...

11. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

12. The ITAT Kolkata held that the addition on a protective basis made by the Assessing Officer in the hands of the assessee, concerning a loan received from a director and...

13. Addition u/s 68 - investment made by the partners - AO has examined 79 unsecured creditors who appeared before the AO and given statements on oath. All of them have...

14. During a search operation, the assessee surrendered a lump sum amount as alleged long-term capital gains from the sale of shares as additional income u/s 132(4). The...

15. Addition u/s 68 - availability of source and application of fund - Cash in hand - AO ought to have made cash flow statement with opening cash balance, deposit and...