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2 results for “disallowance”+ Revision u/s 263clear

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Key Topics

Section 26310Section 260A3Section 143(3)2

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. RUSSEL CREDIT LIMITED

ITAT/153/2025HC Calcutta20 Feb 2026

Bench: HON'BLE JUSTICE RAJARSHI BHARADWAJ,HON'BLE JUSTICE UDAY KUMAR

Section 143(3)Section 260ASection 263

revised on March 29, 2019 to Rs.36,18,36,450/-. The Assessing Officer completed the assessment under Section 143(3) on March 8, 2021, at an assessed income of Rs.39,76,74,478/-. This included treating the gain of Rs.12,97,56,648/- from the sale of 34 unquoted preference shares of ICICI Bank that was purchased in June

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. M/S BRITANNIA INDUSTRIES LTD

Accordingly, the appeal fails and is dismissed

ITAT/211/2022HC Calcutta23 Dec 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 142(1)Section 143(2)Section 143(3)Section 260ASection 263Section 35

revised return was filed on 27.03.2018 declaring a total income of Rs. 1054,14,38,420/- and the case was selected for scrutiny and notices under Section 143(2) and Section 142(1) were issued. In response to such notices and the queries which were raised the assessee submitted documents and on certain discrepancies which were found the assessing officer