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
Calculation of Fair Market Value of Equity Shares based on Book Value by AO: ITAT deletes Addition of Rs. 46.52 Lakhs on Share Premium [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench recently deleted the addition of Share Premium as calculation of Fair Market Value ( FMV )...
![Receipts by Taxpayer cannot be added to Income for Non-Compliance of Summons under Section 131 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Kolkata-ITAT-Income-Tax-Income-Tax-Act-Section-131-of-Income-Tax-Act-ITAT-decision-on-taxpayer-receipts-Taxscan.jpg "Receipts by Taxpayer cannot be added to Income for Non-Compliance of Summons under Section 131 of Income Tax Act: ITAT [Read Order]")
![Revisional Jurisdiction not Invokable on Simple Disagreement with Plausible Views of AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Kolkata-Income-tax-Income-tax-news-Assessing-Officer-taxscan.jpg "Revisional Jurisdiction not Invokable on Simple Disagreement with Plausible Views of AO: ITAT [Read Order]")
![Installment Payments for Immovable property Purchase via cheque on different dates: ITAT deletes Addition u/s 56(2)(x) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Immovable-property-Cheque-Based-Property-taxscan.jpg "Installment Payments for Immovable property Purchase via cheque on different dates: ITAT deletes Addition u/s 56(2)(x) [Read Order]")
![Depreciation Must be Removed While Calculating Net Margin: ITAT Remands Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Kolkata-ITAT-Income-Tax-ITAT-Decision-on-Depreciation-Removal-ITAT-Net-Margin-Calculation-Guidelines-Taxscan.jpg "Depreciation Must be Removed While Calculating Net Margin: ITAT Remands Matter [Read Order]")
Failure to establish Ingredients prescribed u/s 68 of Income Tax Act : ITAT upholds addition [Read Order]
The Kolkata  bench Income Tax Appellate Tribunal (ITAT) while confirming the addition made by the assessing officer held that the assessee failed to establish the ingredients prescribed uner...
![Failure to establish Ingredients prescribed u/s 68 of Income Tax Act : ITAT upholds addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Failure-Ingredients-Income-Tax-Act-ITAT-ITAT-upholds-addition-income-tax-itat-kolkata-taxscan.jpg "Failure to establish Ingredients prescribed u/s 68 of Income Tax Act : ITAT upholds addition [Read Order]")
Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that Section 2 (22) of Income Tax cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans. ...
![Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-tax-Company-Loans-Shareholders-TAXSCAN.jpg "Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company receiving Company Loans: ITAT [Read Order]")
ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers' Objection [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) dismissed reassessment as Assessing Officer ( AO ) failed to pass assessment Order within 4 weeks from rejection of taxpayers' objection....
![ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers Objection [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Reassessment-AO-Pass-Assessment-Order-Rejection-Taxpayers-Objection-TAXSCAN.jpg "ITAT dismisses Reassessment as AO fails to Pass Assessment Order within 4 weeks from Rejection of Taxpayers Objection [Read Order]")
Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) has observed that the magnitude of profit is not decisive factor about genuineness of existence of an investee company. The assessee...
![Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Profit-TAXSCAN.jpg "Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]")
ITAT directs to deletes addition made in respect of Capital Gains by adopting the value of property as per DVO Report [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal ( ITAT ) directed to delete additions made in respect of capital gain by adopting the value of property as per DVO report. The Assessee Arijit...
![ITAT directs to deletes addition made in respect of Capital Gains by adopting the value of property as per DVO Report [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Capital-Gains-TAXSCAN.jpg "ITAT directs to deletes addition made in respect of Capital Gains by adopting the value of property as per DVO Report [Read Order]")
Procedure of disposal of appeal with respect to Investment in Equities not in accordance with mandate given u/s 250(6) Income Tax Act: ITAT directs Re adjudication [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal ( ITAT ) while directing the readjudication observed that procedure of disposal of appeal with respect to investment in equities is not in...
![Procedure of disposal of appeal with respect to Investment in Equities not in accordance with mandate given u/s 250(6) Income Tax Act: ITAT directs Re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-tax-Investment-in-equities-Equity-investment-appeal-Equity-investment-taxscan.jpg "Procedure of disposal of appeal with respect to Investment in Equities not in accordance with mandate given u/s 250(6) Income Tax Act: ITAT directs Re adjudication [Read Order]")
ITAT directs to allows Expenditure towards commission payment made to Agents who relate to Business Expenses [Read Order]
The Two member bench of Income Tax Appellate Tribunal ( ITAT ) of Kolkata directed to allow expenditure towards the commission payment made to agents who relate to business expenses. The Assessee...
![ITAT directs to allows Expenditure towards commission payment made to Agents who relate to Business Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Kolkata-Income-Tax-Expenditure-TAXSCAN.jpg "ITAT directs to allows Expenditure towards commission payment made to Agents who relate to Business Expenses [Read Order]")