![Depreciation Must be Removed While Calculating Net Margin: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Kolkata-Depreciation-taxscan.jpg "Depreciation Must be Removed While Calculating Net Margin: ITAT [Read Order]")
Depreciation Must be Removed While Calculating Net Margin: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) has held that depreciation must be removed while calculating net margin. The ITAT...
![Failure to refer matter to Departmental Valuation Officers for Assessing Fair Market Value of Land Property: ITAT Partly allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Kolkata-Income-Tax-Assessing-Officer-taxscan.jpg "Failure to refer matter to Departmental Valuation Officers for Assessing Fair Market Value of Land Property: ITAT Partly allows Appeal [Read Order]")
![Failure to Comply CIT(A)s Intimations despite Adequate Opportunity being Given: ITAT dismisses Ex-Parte Order Grounds [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Failure-to-Comply-CITA-Intimations-despite-Adequate-Opportunity-ITAT-dismisses-Ex-Parte-Order-Grounds-TAXSCAN.jpg "Failure to Comply CIT(A)s Intimations despite Adequate Opportunity being Given: ITAT dismisses Ex-Parte Order Grounds [Read Order]")
![Form 3CEA not filed with ITR, but filed before Final Order: ITAT allows Claim of long-term capital loss u/s 50B of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Form-3CEA-ITR-Final-Order-Order-ITAT-Claim-long-term-capital-loss-Income-Tax-Act-income-tax-ITAT-taxscan.jpg "Form 3CEA not filed with ITR, but filed before Final Order: ITAT allows Claim of long-term capital loss u/s 50B of Income Tax Act [Read Order]")
![LTCG from Sale of Equity Share of Penny Stock Companies listed with BSE is not eligible for exemption u/s10(38) of I.T Act :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/LTCG-Sale-of-Equity-Share-Penny-Stock-Companies-BSE-not-eligible-exemption-I.T-Act-ITAT-taxscan.jpg "LTCG from Sale of Equity Share of Penny Stock Companies listed with BSE is not eligible for exemption u/s10(38) of I.T Act :ITAT [Read Order]")
Addition for Deemed Dividend u/s 2(22)(e) of Income Tax Act Can Only be Made in the Hands of Shareholder: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that the addition for deemed dividend under Section 2(22) of the Income Tax Act,1961 could only be made in the hands of...
![Addition for Deemed Dividend u/s 2(22)(e) of Income Tax Act Can Only be Made in the Hands of Shareholder: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-Deemed-Dividend-Income-Tax-Act-Hands-of-Shareholder-ITAT-taxscan.jpg "Addition for Deemed Dividend u/s 2(22)(e) of Income Tax Act Can Only be Made in the Hands of Shareholder: ITAT [Read Order]")
Deduction claimed u/s 80C of Income Tax Act can't be rejected merely on ground of Non-mentioning of Claim in ITR: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the deduction claimed under Section 80C of the Income Tax Act, 1961 cannot be rejected merely on the ground of non-mentioning...
![Deduction claimed u/s 80C of Income Tax Act cant be rejected merely on ground of Non-mentioning of Claim in ITR: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Deduction-claimed-Income-Tax-Act-cant-be-rejected-of-Non-mentioning-of-Claim-ITR-ITAT-TAXSCAN.jpg "Deduction claimed u/s 80C of Income Tax Act cant be rejected merely on ground of Non-mentioning of Claim in ITR: ITAT [Read Order]")
ITAT upholds VAT Remission Disallowance as assessee Fails to raise issue of allowabiility of Subsidies under Chapter VI A [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that although prima facie, the issue goes in favour of the assessee in view of the various judgements rendered by the Supreme...
![ITAT upholds VAT Remission Disallowance as assessee Fails to raise issue of allowabiility of Subsidies under Chapter VI A [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ITAT-VAT-Remission-Disallowance-assessee-allowabiility-Subsidies-TAXSCAN.jpg "ITAT upholds VAT Remission Disallowance as assessee Fails to raise issue of allowabiility of Subsidies under Chapter VI A [Read Order]")
Appeal failed in absence of Name of Assesee in Form 26AS: ITAT allows to Make Necessary Corrections [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) allowed necessary corrections when the appeal failed in the absence of the name of the assessee in Form 26AS. The representative on...
![Appeal failed in absence of Name of Assesee in Form 26AS: ITAT allows to Make Necessary Corrections [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Appeal-Name-Assesee-Form-26AS-ITAT-Necessary-Corrections-TAXSCAN.jpg "Appeal failed in absence of Name of Assesee in Form 26AS: ITAT allows to Make Necessary Corrections [Read Order]")
Repair and Maintenance Expenses are Revenue in Nature: ITAT Allows Deduction u/s 37(1) [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the deduction of repair and maintenance expenses as revenue expenditure under Section 37(1) of the Income Tax Act, 1961. The...
![Repair and Maintenance Expenses are Revenue in Nature: ITAT Allows Deduction u/s 37(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Repair-Maintenance-Expenses-Revenue-Nature-ITAT-Deduction-taxscan.jpeg "Repair and Maintenance Expenses are Revenue in Nature: ITAT Allows Deduction u/s 37(1) [Read Order]")
Income Earned by Co-operative Society is eligible for Deduction u/s 80P(2)(a)(i) of Income Tax Act: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the income earned by the co-operative society is eligible for deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961....
![Income Earned by Co-operative Society is eligible for Deduction u/s 80P(2)(a)(i) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Co-operative-Society-West-Bengal-Co-operative-Societies-Act-Income-Earned-by-Co-operative-Society-taxscan.jpg "Income Earned by Co-operative Society is eligible for Deduction u/s 80P(2)(a)(i) of Income Tax Act: ITAT [Read Order]")
Income from a Partnership Firm having Separate Identity from Partner can't be added together u/s 69A of Income Tax Act: ITAT deletes Addition [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the income from the partnership firm having a separate identity from the partner cannot be added together under Section 69A of...
![Income from a Partnership Firm having Separate Identity from Partner cant be added together u/s 69A of Income Tax Act: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Income-from-a-Partnership-Firm-having-Separate-Identity-Income-from-a-Partnership-Firm-Income-Partnership-Firm-Income-Tax-Act-ITAT-deletes-Addition-ITAT-Taxscan.jpg "Income from a Partnership Firm having Separate Identity from Partner cant be added together u/s 69A of Income Tax Act: ITAT deletes Addition [Read Order]")