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
![ITAT Annual Digest [Part - 37]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Annual-Digest-ITAT-decisions-Tax-tribunal-updates-Key-tax-judgments-2023-ITAT-Cases-ITAT-taxscan.jpg "ITAT Annual Digest [Part - 37]")
ITAT Annual Digest [Part - 37]
This yearly digest analyzes all the ITAT stories published in the year 2023 at taxscan.in Exemption u/s 11(2) of Income Tax Act shall be allowable...
![ITAT Annual Digest [Part - 36]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Annual-Digest-Tax-tribunal-updates-ITAT-decisions-ITAT-Cases-Key-tax-judgments-2023-ITAT-taxscan.jpg "ITAT Annual Digest [Part - 36]")
![Inappropriate use of discretionary powers by the Income Tax Department under Section 68 of the Income Tax Act: ITAT dismisses appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Income-Tax-Department-ITAT-Kolkata-Income-Tax-Revenue-case-rejection-Assessee-taxation-ITAT-appeal-dismissal-taxscan.jpg "Inappropriate use of discretionary powers by the Income Tax Department under Section 68 of the Income Tax Act: ITAT dismisses appeal [Read Order]")
![Â ITAT Annual Digest [PART 19]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-ANNUAL-DIGEST-ITAT-ANNUAL-DIGEST-PART-19-ITAT-ANNUAL-DIGEST-PART-19-taxscan.jpg "Â ITAT Annual Digest [PART 19]")
![Advance received against booking of flats are not Unexplained Amount: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Advance-booking-of-flats-Unexplained-Amount-ITAT-TAXSCAN.jpg "Advance received against booking of flats are not Unexplained Amount: ITAT deletes Addition [Read Order]")
Once TDS is Deducted then liability for Non-Deposit of TDS by Deductor can't be fasten on Deductee: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that once Tax Deducted at Source (TDS) is deducted then liability for non-deposit of TDS by deductor cannot be fastened on the...
![Once TDS is Deducted then liability for Non-Deposit of TDS by Deductor cant be fasten on Deductee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Once-TDS-is-Deducte-Non-Deposit-of-TDS-by-Deductor-Deductee-ITAT-TAXSCAN.jpg "Once TDS is Deducted then liability for Non-Deposit of TDS by Deductor cant be fasten on Deductee: ITAT [Read Order]")
Exemption u/s 10(38) shall be allowed where Purchase and Sale of Shares on which LTCG is earned has been Genuinely Effected: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the exemption under Section 10(38) of the Income Tax Act, 1961 shall be allowed where the purchase and sale of shares on which...
![Exemption u/s 10(38) shall be allowed where Purchase and Sale of Shares on which LTCG is earned has been Genuinely Effected: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Exemption-Sale-of-Shares-Purchase-of-shares-long-term-capital-gain-ITAT-ITAT-Kolkata-shares-taxscan.jpg "Exemption u/s 10(38) shall be allowed where Purchase and Sale of Shares on which LTCG is earned has been Genuinely Effected: ITAT [Read Order]")
No Weighted Average Cost of Capital method can be applied for purpose of computing ALP of Royalty income: ITAT Upholds Deletion of Adjustments in favour of Britannia Industries [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of adjustments in favor of Britannia Industries and held that the weighted average cost of capital (WACC) method...
![No Weighted Average Cost of Capital method can be applied for purpose of computing ALP of Royalty income: ITAT Upholds Deletion of Adjustments in favour of Britannia Industries [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/No-Weighted-Average-Cost-Average-Cost-Average-Cost-of-Capital-method-computing-ALP-ALP-Royalty-income-Royalty-ITAT-taxscan.jpg "No Weighted Average Cost of Capital method can be applied for purpose of computing ALP of Royalty income: ITAT Upholds Deletion of Adjustments in favour of Britannia Industries [Read Order]")
Relief to Britannia Industries: ITAT Allows claim of Deduction for Lease Premium on ground of Absence of Capital Expenditure [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) granted relief to Britannia Industries by allowing the claim of deduction for lease premium on the ground of the absence of capital...
![Relief to Britannia Industries: ITAT Allows claim of Deduction for Lease Premium on ground of Absence of Capital Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Relief-Relief-to-Britannia-Industries-Britannia-Industries-ITAT-claim-Deduction-claim-of-Deduction-ITAT-Allows-claim-of-Deduction-Lease-Premium-Capital-Expenditure-taxscan.jpg "Relief to Britannia Industries: ITAT Allows claim of Deduction for Lease Premium on ground of Absence of Capital Expenditure [Read Order]")
Levy of Interest u/s. 115P and DDT Liability u/s. 115O does not Arise out of Assessment Order u/s.143(3) of Income Tax Act: ITAT Quashes Revision Order [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has quashed the revision order holding that levy of interest under Section 115P of the Income Tax Act, 1961 and Dividend Distribution Tax...
![Levy of Interest u/s. 115P and DDT Liability u/s. 115O does not Arise out of Assessment Order u/s.143(3) of Income Tax Act: ITAT Quashes Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/ITAT-Quashes-Revision-Order-Revision-Order-ITAT-Quashes-ITAT-News-Tax-News-Income-Tax-News-Quashes-Revision-Order-TAXSCAN.jpg "Levy of Interest u/s. 115P and DDT Liability u/s. 115O does not Arise out of Assessment Order u/s.143(3) of Income Tax Act: ITAT Quashes Revision Order [Read Order]")
"Income other than business/Profession Mismatch" falls within Scope of Limited Scrutiny: ITAT Sets aside Assessment Order [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) set aside the impugned assessment order and held that income other than business/professional mismatch falls within scope of limited...
![Income other than business/Profession Mismatch falls within Scope of Limited Scrutiny: ITAT Sets aside Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Income-business-Profession-Mismatch-Scope-of-Limited-Scrutiny-ITAT-Assessment-Order-TAXSCAN.jpg "Income other than business/Profession Mismatch falls within Scope of Limited Scrutiny: ITAT Sets aside Assessment Order [Read Order]")
Inadvertent Mistake due to Typographical Error in Calculating Total Income: ITAT Set Aside Revision Order [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has set aside the revision order as inadvertent mistake was due to the typographical error in calculating the total income. The issue...
![Inadvertent Mistake due to Typographical Error in Calculating Total Income: ITAT Set Aside Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Inadvertent-Mistake-Mistake-Typographical-Error-Total-Income-Income-ITAT-Revision-Order-ITAT-Set-Aside-Revision-Order-taxscan.jpg "Inadvertent Mistake due to Typographical Error in Calculating Total Income: ITAT Set Aside Revision Order [Read Order]")