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ITAT Kolkata

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

Saagarika Gopinath

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the disallowance under Section 14A of the Income Tax Act, 1961 was...

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...

ITAT Remands Case After Assessee Submits Cash Summaries, Audit Report, and Valuation Documents for...

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

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...

ITAT Holds Corporate Guarantee as International Transaction, Grants Relief to Tega Industries by Restricting TP Adjustment to 0.5% Fee

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT ) granted relief to Tega Industries by restricting the Transfer Pricing (TP) adjustment to 0.5% in respect of a corporate guarantee fee,...

CPC cannot Deny S. 80P Deduction to Cooperatives for AY 2018–19: ITAT clarifies Prima Facie Adjustment Begins from AY 2021–22 [Read Order]

The Kolkata Benchof Income Tax Appellate Tribunal (ITAT) held that the prima facie disallowance of deduction under Section 80P of the Income Tax Act, 1961, while processing returns under Sections...

ITAT Condones 148-Day Delay, Remands Case to CIT(A) Due to Assessee's Medical Grounds and Legal Oversight [Read Order]

The Income Tax Appellate Tribunal (ITAT) Kolkata Bench has condoned a 148-day delay in filing an appeal, accepting medical reasons and legal oversight as valid grounds. The tribunal directed the...