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

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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

CIT(A) Must Pass Reasoned Order, Cannot Merely Uphold AO's View: ITAT Restores Rs. 1.86 Cr Addition for Fresh Adjudication [Read Order]

Franklin Joshva

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) set aside the orders of both the Commissioner of Income Tax (Appeals) [CIT(A)] and the...

No Assumption of Jurisdiction allowable for Income Tax Reassessments without issuance of Notice u/s...

Income Tax Reassessment Notice u/s 148 against Dead Person is Null and Void: ITAT [Read Order]

No Addition Can Be Made in Completed/Unabated Assessments Without Incriminating Material: ITAT [Read...

ITAT Dismisses Income Tax Department's Case for Having Tax Effect Less Than ₹60,00,000: Notes...

Discrepancy Between Purchase Price and Stamp Duty Value of Land u/s 56(2)(x): ITAT Directs AO to Reconsider Using DVO Valuation [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) sets aside the addition of ₹44,95,500 made under section 56(2)(x) of Income Tax Act,1961, on account of the discrepancy between the...

Interior Decorator’s Rs. 11 Lakh Added as Unexplained Money u/s 69A: ITAT Deletes Addition as Income was Offered to Tax [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the appeal of an interior decorator and deleted the addition of Rs. 11 lakh as unexplained money under section 69A of Income Tax ...

SHIS, FPS Incentives and Carbon Credit Receipts held Capital in Nature, Excludable from Book Profit u/s 115JB: ITAT [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) held that the SHIS, FPS incentives and carbon credit receipts are Capital in Nature and can be excluded from Book Profit under Section 115JB...

Alleged Shell Company Transactions: ITAT deletes ₹15 Lakh Addition u/s 68 [Read Order]

The bench of the Income Tax Appellate Tribunal, Kolkata, set aside the addition of ₹15,00,000 made under Section 68 of the Income Tax Act, 1961, holding that the Assessing Officer (AO) failed to...

Penalty Paid to Third Parties for Breach of Contract Not Hit by Explanation u/s 37(1): ITAT Deletes ₹34.71 Lakh Disallowance [Read Order]

The Kolkata bench of Income Tax Appellate Tribunal (ITAT) held that the penalty paid to third parties for breach of contract does not come under the explanation of Sec 37(1). ITAT deleted the...

AO Erred in Disallowing ₹1.89 Cr Penalty & Other Expenses: ITAT remands ₹73.26 Lakh UIL Penny-Stock Loss for Fresh Examination [Read Order]

The Kolkata bench of Income Tax Appellate Tribunal ( ITAT ) held that the AO erred in disallowing ₹1.89 Cr penalty and other expenses. The bench remanded ₹73.26 Lakh UIL penny-stock loss for fresh...

Debatable Warranty Provision Disallowance u/s 37(1) Falls Outside Section 154 Scope: ITAT [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the disallowance of warranty provisions under section 37(1) of Income Tax Act,1961, was a debatable issue and could not be ...

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