ITAT Kolkata Judgments, Orders & News | Income Tax Appellate Tribunal

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Income Tax Exemption Denied due to Wrong PAN Used by Sikkimese Proprietor: ITAT Allows Claim u/s 10(26AAA) [Read Order]

Sneha Sukumaran Mullakkal

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the appeal of a Sikkim-based proprietor after finding that the exemption under...

ITAT, ITAT Holds Reassessment Notice, Reassessment Notice

ITAT Holds Reassessment Void Ab Initio as Notice Issued Beyond Three-Year Limit for Income Below ₹50...

AO cannot Make Addition on Bogus Purchases without Rejecting Books or Reported Sales : ITAT says...

Disallowance u/s 14A Inapplicable due to Absence of Exempt Income: ITAT [Read Order]

Rejection of Registration Application for Wrong Section Code: ITAT Allows Revised Form 10D Filing...

Unexplained Cash Credit on ₹31.15 Lakh Loan Repayment: ITAT Upholds Deletion Confirming Genuine Repayment Through Banking Channels [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed the Revenue’s appeal against the addition of ₹31.15 lakh as unexplained cash credit, upholding the deletion by the Commissioner...

ITAT Remands Case After Assessee Submits Cash Summaries, Audit Report, and Valuation Documents for Reconsideration [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has remanded a case back to the Assessing Officer (AO) for fresh adjudication after the assessee submitted additional documents,...

Relief for Philips India: ITAT Upholds 30% Depreciation on Moulds Used by Exclusive Vendors [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) upheld 30% depreciation on moulds used by third-party vendors exclusively manufacturing for Philips India. The Revenue-appellant...

ITAT Allows Foreign Tax Credit Despite Delay in Filing Form 67, Says Compliance is Directory and Not Mandatory [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has recently allowed a Foreign Tax Credit (FTC) to an assessee, despite a delay in filing Form 67, holding that procedural lapses cannot...

ITAT sets aside Income Tax Penalty on Fruit Dealer for Misreporting, Directs CIT(A) to Reconsider Immunity Despite Form 68 Lapse [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has set aside a penalty imposed for misreporting of income while directing the Commissioner of Income Tax (Appeals) ( CIT(A) ) to...

Delay in Filing Form 10B Does Not Bar Exemption under Sections 11 & 12 of ITA: ITAT [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that delay in filing Form 10B does not bar exemption under sections 11 and 12 of the Income Tax Act,1961. Salt Lake...

Slight Delay in Filing Form 67 Cannot Take Away DTAA Benefit: ITAT Grants Relief to Microsoft Employee for Salary Received in US [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) granted relief to a Microsoft employee for salary received in the US, holding that a slight delay in filing Form 67 cannot take away...