AO Can't Draw An Adverse Inference For Mere Non-Response From Directors To Notices: Calcutta High Court

In a significant ruling, the High Court at Calcutta has dismissed an appeal filed by the Principal Commissioner of Income Tax-1, Kolkata against Atlantic Dealers Pvt. Ltd. The case, under Section 260A of the Income Tax Act, 1961, centered on an order dated 8th May, 2023, concerning I.T.A. No.530/Kol/2020 for the Assessment Year 2009-10. Key Points from the Case: 1. Issue Raised: The Revenue raised substantial questions of law regarding…