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
![Incorrect Accounting and Wrong Grouping of Headings cant be termed as a Bogus Investment: ITAT grants relief to Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Incorrect-Accounting-Wrong-Grouping-of-Headings-Bogus-Investment-ITAT-grants-relief-to-Assessee-taxscan-1.jpg "Incorrect Accounting and Wrong Grouping of Headings cant be termed as a Bogus Investment: ITAT grants relief to Assessee [Read Order]")
Incorrect Accounting and Wrong Grouping of Headings can't be termed as a Bogus Investment: ITAT grants relief to Assessee [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) while granting relief to the assessee held that the incorrect accounting and wrong...
![Interest Bearing Funds Not Applied for the Purpose of Making Investments: ITAT Deletes Disallowance u/s 14A r.w.r 8D(2)(ii) of Income Tax Rules [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Interest-Funds-Investments-Interest-Bearing-Funds-Not-Applied-for-the-Purpose-of-Making-Investments-ITAT-taxscan.jpg "Interest Bearing Funds Not Applied for the Purpose of Making Investments: ITAT Deletes Disallowance u/s 14A r.w.r 8D(2)(ii) of Income Tax Rules [Read Order]")
![Addition for Deemed Dividend u/s 2(22)(e) of Income Tax Act Can Only be Made in the Hands of Shareholder: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-Deemed-Dividend-Income-Tax-Act-Hands-of-Shareholder-ITAT-taxscan.jpg "Addition for Deemed Dividend u/s 2(22)(e) of Income Tax Act Can Only be Made in the Hands of Shareholder: ITAT [Read Order]")
![ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Confirms-Income-Tax-Addition-ITAT-Absence-of-Evidence-Income-Tax-Addition-Income-Tax-Business-Capital-taxscan.jpg "ITAT Confirms Income Tax Addition u/s 68 in Absence of Evidence Proving Unsubstantial Increase in Business Capital [Read Order]")
![TDS u/s 194C(2) Not applicable when No Contractual or Sub-Contractual Relationship exists between JV and its Constituencies: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/TDS-applicable-when-No-Contractual-or-Sub-Contractual-Relationship-exists-between-JV-and-its-Constituencies-ITAT-TAXSCAN.jpg "TDS u/s 194C(2) Not applicable when No Contractual or Sub-Contractual Relationship exists between JV and its Constituencies: ITAT [Read Order]")
Disallowance made by AO u/s 40(a)(ia) for non-deduction of TDS and recovery of rent from assessee by holding company are not sustainable: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that Disallowance made by AO under Section 40(a)(ia) of the Income Tax Act for non-deduction of TDS under section 194I cannot be...
![Disallowance made by AO u/s 40(a)(ia) for non-deduction of TDS and recovery of rent from assessee by holding company are not sustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Disallowance-AO-non-deduction-of-TDS-and-recovery-of-rent-from-assessee-by-holding-company-sustainable-ITAT-TAXSCAN.jpg "Disallowance made by AO u/s 40(a)(ia) for non-deduction of TDS and recovery of rent from assessee by holding company are not sustainable: ITAT [Read Order]")
Income earned from providing IT services to Indian customers is taxable in India due to use of service in India: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT ) Kolkata held that Income earned from providing It services to Indian Customers is taxable in India because the service is used in india. Assessee,...
![Income earned from providing IT services to Indian customers is taxable in India due to use of service in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-earned-from-providing-IT-services-to-Indian-customers-is-taxable-India-due-service-in-India-ITAT-TAXSCAN.jpg "Income earned from providing IT services to Indian customers is taxable in India due to use of service in India: ITAT [Read Order]")
ITAT directs AO to set off Business Income with carry forward Business Loss on grounds of Assessee's Return becoming valid u/s 139(1) after defect was removed from Original Return
The Kolkata bench if the Income Tax Appellate Tribunal (ITAT) held that when original return filed is defective and the defect is removed under Section 139(9) of the Income Tax Act, the return filed...
PCIT can't exercise revisionary jurisdiction u/s 263 where AO has taken a Plausible view of Evidences produced by Assessee: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the Principal Commissioner of Income Tax (PCIT) cannot exercise the revisionary jurisdiction under Section 263 of the Income...
![PCIT cant exercise revisionary jurisdiction u/s 263 where AO has taken a Plausible view of Evidences produced by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/revisionary-jurisdiction-Evidences-produced-by-Assessee-ITAT-PCIT-taxscan.jpg "PCIT cant exercise revisionary jurisdiction u/s 263 where AO has taken a Plausible view of Evidences produced by Assessee: ITAT [Read Order]")
Addition u/s 68 of Income Tax Act shall be made when Identity, Creditworthiness, and Genuineness of transactions are not satisfactorily explained by Assessee: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the addition under Section 68 of the Income Tax Act, 1961 shall be made when the identity, creditworthiness, and genuineness of...
![Addition u/s 68 of Income Tax Act shall be made when Identity, Creditworthiness, and Genuineness of transactions are not satisfactorily explained by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-Income-Tax-Act-Identity-Creditworthiness-Genuineness-of-transactions-satisfactorily-explained-by-Assessee-ITAT.jpg "Addition u/s 68 of Income Tax Act shall be made when Identity, Creditworthiness, and Genuineness of transactions are not satisfactorily explained by Assessee: ITAT [Read Order]")
Short Term Capital Gain disposed off within a Short Span of time will not justify the Gain to be treated as Business Income: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the short-term capital gain disposed off within a short span of time will not justify the gain to be treated as business...
![Short Term Capital Gain disposed off within a Short Span of time will not justify the Gain to be treated as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Short-term-Capital-Gain-Capital-Gain-Short-Span-of-time-Short-term-Capital-Gain-disposed-off-within-a-Short-Span-of-time-will-not-justify-the-gain-to-be-treated-as-Business-Income.jpg "Short Term Capital Gain disposed off within a Short Span of time will not justify the Gain to be treated as Business Income: ITAT [Read Order]")
TDS deducted in hands of Transferor Company shall belong to Transferrer Company when Amalgamation Scheme is approved by HC: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the Tax Deducted at Source (TDS) deducted in the hands of the transferor company shall belong to the transferrer company...
![TDS deducted in hands of Transferor Company shall belong to Transferrer Company when Amalgamation Scheme is approved by HC: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/TDS-deducted-Transferor-Company-shall-belong-to-Transferrer-Company-Amalgamation-Scheme-is-approved-by-HC-ITAT-TAXSCAN.jpg "TDS deducted in hands of Transferor Company shall belong to Transferrer Company when Amalgamation Scheme is approved by HC: ITAT [Read Order]")