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
![Profit derived from Services Rendered as Public Utility Service is Very Meager: ITAT directs AO to allows Exemption u/s 11 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Kolkata-tax-update-Income-Tax-Act-tax-news-Taxscan.jpg "Profit derived from Services Rendered as Public Utility Service is Very Meager: ITAT directs AO to allows Exemption u/s 11 of Income Tax Act [Read Order]")
Profit derived from Services Rendered as Public Utility Service is Very Meager: ITAT directs AO to allows Exemption u/s 11 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer ( AO ) to allow exemption under Section 11 of the Income Tax Act, 1961...
![ITAT Deletes disallowance of payment made on account of Forward Contract Loss incurred towards hedging Foreign Exchange Fluctuation Loss on FCNRB Loan Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-09-at-3.03.51-PM.jpeg "ITAT Deletes disallowance of payment made on account of Forward Contract Loss incurred towards hedging Foreign Exchange Fluctuation Loss on FCNRB Loan Account [Read Order]")
![Deduction cannot be claimed by Assessee when Employees’ contribution not being paid to the respective PF & ESI Acts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/PF-PF-and-ESI-acts-Employees-State-Insurance-Deduction-Income-tax-deduction-taxscan.jpg "Deduction cannot be claimed by Assessee when Employees’ contribution not being paid to the respective PF & ESI Acts: ITAT [Read Order]")
![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]")
![ITAT directs Matter to CIT(E) citing Form No.10AB Application should be Construed u/s 12A(1)(ac)(i) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Kolkata-ITAT-Income-Tax-Income-tax-news-Commissioner-of-Income-Tax-taxscan.jpg "ITAT directs Matter to CIT(E) citing Form No.10AB Application should be Construed u/s 12A(1)(ac)(i) of Income Tax Act [Read Order]")
Property Sold in Low Price Due to Obstacles in Peaceful Enjoyment: ITAT deletes Capital Gains Addition based on DVO [Read Order]
In a recent ruling, the Kolkata bench Income Tax Appellate Tribunal ( ITAT ) deleted the capital gain addition made by the Assessing Officer (AO) as the tribunal was convinced that the assessee as a...
![Property Sold in Low Price Due to Obstacles in Peaceful Enjoyment: ITAT deletes Capital Gains Addition based on DVO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Property-Sold-in-Low-Price-Due-ITAT-Capital-Gains-DVO-TAXSCAN.jpg "Property Sold in Low Price Due to Obstacles in Peaceful Enjoyment: ITAT deletes Capital Gains Addition based on DVO [Read Order]")
CPC Lacked Authority for Preliminary Deduction u/s  80P of Income Tax Act Pre-April 2021: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that the Centralized Processing Centre (CPC) lacked authority for preliminary deduction under Section 80P of the Income Tax...
![CPC Lacked Authority for Preliminary Deduction u/s  80P of Income Tax Act Pre-April 2021: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/CPC-CPC-Lacked-Authority-for-Preliminary-Deduction-Deduction-Income-Tax-Act-ITAT-taxscan.jpg "CPC Lacked Authority for Preliminary Deduction u/s  80P of Income Tax Act Pre-April 2021: ITAT [Read Order]")
Taxpayer's Document Validates Identity and Transaction Genuineness: ITAT deletes Addition u/s 68 [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) has deleted the addition under Section 68 of the Income Tax Act, 1961 after validating the taxpayer's document, affirming the identity...
![Taxpayers Document Validates Identity and Transaction Genuineness: ITAT deletes Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Kolkata-ITAT-Income-tax-Section-68-taxscan.jpg "Taxpayers Document Validates Identity and Transaction Genuineness: ITAT deletes Addition u/s 68 [Read Order]")
Taxpayer without Shareholding cannot be Deemed 'Dividend' Receiver u/s 2(22) of Income Tax Act: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) observed that the taxpayer without shareholding cannot be deemed 'dividend' receiver under Section 2(22) of Income Tax Act, 1961. ...
![Taxpayer without Shareholding cannot be Deemed Dividend Receiver u/s 2(22) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Kolkata-Income-Tax-ITAT-on-dividend-receiver-Dividend-Receiver-TAXSCAN.jpg "Taxpayer without Shareholding cannot be Deemed Dividend Receiver u/s 2(22) of Income Tax Act: ITAT [Read Order]")
Loan Transaction Validated by Furnishing Identity and Creditworthiness of Creditors: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under Section 68 of the Income Tax Act, 1961 as the loan transaction validated by duly furnishing the identity and...
![Loan Transaction Validated by Furnishing Identity and Creditworthiness of Creditors: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Kolkata-ITAT-Income-Tax-Income-Tax-Act-ITAT-ruling-on-loan-transaction-Section-68-Income-Tax-Act-Taxscan.jpg "Loan Transaction Validated by Furnishing Identity and Creditworthiness of Creditors: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]")
Passing Intimation u/s 143 without Reasonable Opportunity to Taxpayer Deemed Unlawful: ITAT against AO [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that passing intimation under Section 143 of the Income Tax Act, 1961 without affording the taxpayer a reasonable opportunity is...
![Passing Intimation u/s 143 without Reasonable Opportunity to Taxpayer Deemed Unlawful: ITAT against AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Passing-Intimation-Reasonable-Opportunity-Taxpayer-itat-taxscan.jpg "Passing Intimation u/s 143 without Reasonable Opportunity to Taxpayer Deemed Unlawful: ITAT against AO [Read Order]")