ITAT Kolkata
Explore the latest ITAT Kolkata judgments, orders, and appellate decisions on direct tax matters from the Kolkata bench of the Income Tax Appellate Tribunal
![Loan Interest Deduction u/s 48 of Income Tax Valid Despite Prior Claim u/s 24(b), Amendment to S. 48 Effective from AY 2024-25: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Income-Tax-Deduction-TAXSCAN.jpg "Loan Interest Deduction u/s 48 of Income Tax Valid Despite Prior Claim u/s 24(b), Amendment to S. 48 Effective from AY 2024-25: ITAT [Read Order]")
Loan Interest Deduction u/s 48 of Income Tax Valid Despite Prior Claim u/s 24(b), Amendment to S. 48 Effective from AY 2024-25: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) confirmed that taxpayers can claim loan interest deductions under Section 48 of the...
![Non-Compliance with AO Notices Despite Being Indian Oil Corporation Employee Aware of Tax Obligations: ITAT Upholds Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Non-Compliance-with-AO-Notices-Indian-Oil-Corporation-Tax-Obligations-ITAT-Upholds-Penalty-TAXSCAN.jpg "Non-Compliance with AO Notices Despite Being Indian Oil Corporation Employee Aware of Tax Obligations: ITAT Upholds Penalty [Read Order]")
![10% Tolerance Band u/s 43CA Applies Retrospectively to Address Stamp Valuation Discrepancies: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "10% Tolerance Band u/s 43CA Applies Retrospectively to Address Stamp Valuation Discrepancies: ITAT [Read Order]")
![ITAT Restores Trusts Corpus Donations Case for Fresh Hearing Over Notice and Email ID Issues [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/TAT-Corpus-Donations-Case-Trust-Donations-Tax-Corpus-Donation-Tax-ITAT-Kolkata-Trust-Case-taxscan.jpg "ITAT Restores Trusts Corpus Donations Case for Fresh Hearing Over Notice and Email ID Issues [Read Order]")
![ITAT upholds Staff Welfare Addition made by AO due to No Evidence Submitted by Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Kolkata-ITAT-on-Staff-welfare-ITAT-Staff-welfare-Income-Tax-taxscan.jpg "ITAT upholds Staff Welfare Addition made by AO due to No Evidence Submitted by Assessee [Read Order]")
Purchases Treated as Bogus in Another Year Cannot Solely Justify Similar Treatment for Year Under Consideration: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that purchases treated as bogus in one financial year cannot automatically be presumed bogus in another year without sufficient...
![Purchases Treated as Bogus in Another Year Cannot Solely Justify Similar Treatment for Year Under Consideration: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Purchases-Treated-as-Bogus-Solely-Justify-Similar-Treatment-purchases-treated-as-bogus-in-one-financial-year-taxscan.jpg "Purchases Treated as Bogus in Another Year Cannot Solely Justify Similar Treatment for Year Under Consideration: ITAT [Read Order]")
Duty Drawback and License Sale Income should be included in Gross Receipts u/s 44AD for Presumptive Taxation: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that duty drawback and license sale income should be included in the gross receipts for the purpose of presumptive taxation under...
![Duty Drawback and License Sale Income should be included in Gross Receipts u/s 44AD for Presumptive Taxation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Duty-Drawback-License-Sale-Income-Gross-Receipts-Presumptive-Taxation-ITAT-taxscan.jpg "Duty Drawback and License Sale Income should be included in Gross Receipts u/s 44AD for Presumptive Taxation: ITAT [Read Order]")
ITAT Deletes Rs. 4.82 Crore Addition as Unexplained Cash Credit, Citing Payments Linked to Genuine Sales Transactions [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs. 4.82 crore made as unexplained cash credit in the case of the assessee, citing payments linked to genuine sales...
![ITAT Deletes Rs. 4.82 Crore Addition as Unexplained Cash Credit, Citing Payments Linked to Genuine Sales Transactions [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Sales-Transactions-Cash-credit-addition-deletion-taxscan.jpg "ITAT Deletes Rs. 4.82 Crore Addition as Unexplained Cash Credit, Citing Payments Linked to Genuine Sales Transactions [Read Order]")
![S.68 Applicable When Credit Received in Relevant Year, not for Earlier Years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-Income-Tax-Section-68-of-Income-Tax-Act-Taxscan.jpg "S.68 Applicable When Credit Received in Relevant Year, not for Earlier Years: ITAT [Read Order]")
Assessment not Prejudicial to Revenue if AO Follows Jurisdictional HC’s Ruling: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that an assessment cannot be deemed prejudicial to the revenue if the Assessing Officer ( AO ) has followed the Jurisdictional High...
![Assessment not Prejudicial to Revenue if AO Follows Jurisdictional HC’s Ruling: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-ITAT-judgment-on-jurisdictional-High-Court-Taxscan.jpg "Assessment not Prejudicial to Revenue if AO Follows Jurisdictional HC’s Ruling: ITAT [Read Order]")
ITAT Remands Case to AO for Reconsideration of Tax Exemption Claim u/s 10(26AAA) for Sikkimese Assessee [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal( ITAT ) remanded the case of the Sikkimese assessee to the Assessing Officer ( AO ) for reconsideration of her tax exemption claim under Section...
![ITAT Remands Case to AO for Reconsideration of Tax Exemption Claim u/s 10(26AAA) for Sikkimese Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Case-to-AO-Reconsideration-of-Tax-Exemption-Claim-Sikkimese-Assessee-taxscan.jpg "ITAT Remands Case to AO for Reconsideration of Tax Exemption Claim u/s 10(26AAA) for Sikkimese Assessee [Read Order]")
ITAT Remands Case for Reassessment of Rs. 9.74 Lakh Unexplained Cash Deposits, allows Assessee to Submit Evidence [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the case for reassessment regarding Rs. 9.74 lakh in unexplained cash deposits made during the demonetization period,allowing the...
![ITAT Remands Case for Reassessment of Rs. 9.74 Lakh Unexplained Cash Deposits, allows Assessee to Submit Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Kolkata-Unexplained-Cash-Deposit-Income-Tax-Appellate-Tribunal-ITAT-Case-for-Reassessment-of-Cash-Deposit-Taxscan.jpg "ITAT Remands Case for Reassessment of Rs. 9.74 Lakh Unexplained Cash Deposits, allows Assessee to Submit Evidence [Read Order]")