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 deletes Addition on Proof of Identity and Creditworthiness of Shareholders and Genuineness of Transactions [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-Proof-of-Identity-Creditworthiness-of-Shareholders-Genuineness-of-Transactions-Transactions-Taxscan-.jpg "ITAT deletes Addition on Proof of Identity and Creditworthiness of Shareholders and Genuineness of Transactions [Read Order]")
ITAT deletes Addition on Proof of Identity and Creditworthiness of Shareholders and Genuineness of Transactions [Read Order]
A Division Bench of the Income Tax Appellate Tribunal (ITAT), Kolkata deleted addition on proof of identity and creditworthiness of shareholders and...
![Revisional Jurisdiction cant invoke merely based on a Clerical Mistake: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Revisional-Jurisdiction-ITAT-Clerical-Mistake-taxscan.jpg "Revisional Jurisdiction cant invoke merely based on a Clerical Mistake: ITAT [Read Order]")
![No Disallowance u/s 40a(ia) of Income Tax Act when due Tax has been made by Recipient of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Disallowance-Income-Tax-Act-Tax-income-ITAT-Income-Tax-taxscan.jpg "No Disallowance u/s 40a(ia) of Income Tax Act when due Tax has been made by Recipient of Income: ITAT [Read Order]")
![No Reassessment in absence of failure to fully & truly disclose all material facts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/No-Reassessment-in-absence-of-failure-to-fully-truly-disclose-all-material-facts-ITAT-TAXSCAN.jpg "No Reassessment in absence of failure to fully & truly disclose all material facts: ITAT [Read Order]")
![Objection to Scheme of Amalgamation can raise only before sanctioning by High Court: ITAT allows adjustment on Business Loss and set off of Capital Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Capital-Loss-Business-Loss-Scheme-of-Amalgamation-Amalgamation-High-Court-ITAT-Income-Tax-taxscan-.jpg "Objection to Scheme of Amalgamation can raise only before sanctioning by High Court: ITAT allows adjustment on Business Loss and set off of Capital Loss [Read Order]")
AO bound to refer to TPO for Computation of Domestic specified Transactions: ITAT rules in favour of Zydus Healthcare [Read Order]
In as significant case of Zydus Healthcare, the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that AO is bound to refer to TPO for computation of domestic specified transactions....
![AO bound to refer to TPO for Computation of Domestic specified Transactions: ITAT rules in favour of Zydus Healthcare [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/TPO-Domestic-specified-Transactions-Zydus-Healthcare-taxscan.jpg "AO bound to refer to TPO for Computation of Domestic specified Transactions: ITAT rules in favour of Zydus Healthcare [Read Order]")
Subsidy/Incentive received are Capital Receipts, should be excluded from Book Profit u/s 115JB: ITAT grants relief to Birla Corporation [Read Order]
A Division Bench of the Income Tax Appellate Tribunal (ITAT), Kolkata Bench held that the Subsidy or incentive received are capital receipts, should be excluded from book profit under Section 115JB...
![Subsidy/Incentive received are Capital Receipts, should be excluded from Book Profit u/s 115JB: ITAT grants relief to Birla Corporation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Subsidy-Incentive-Capital-Receipts-Book-Profit-ITAT-Birla-Corporation-taxscan.jpg "Subsidy/Incentive received are Capital Receipts, should be excluded from Book Profit u/s 115JB: ITAT grants relief to Birla Corporation [Read Order]")
LTCG for Sale of Equity Shares as Bogus, not eligible to Exemption u/s 10(38) of Income Tax Act: ITAT confirms Income Tax Addition [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) confirmed addition on the ground that Long Term Capital Gain (LTCG) for sale of equity shares as bogus, not eligible to exemption under...
![LTCG for Sale of Equity Shares as Bogus, not eligible to Exemption u/s 10(38) of Income Tax Act: ITAT confirms Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/LTCG-for-Sale-of-Equity-Shares-as-Bogus-Income-Tax-Act-ITAT-confirms-Income-Tax-Addition-TAXSCAN.jpg "LTCG for Sale of Equity Shares as Bogus, not eligible to Exemption u/s 10(38) of Income Tax Act: ITAT confirms Income Tax Addition [Read Order]")
Relief to Birla Corporation: ITAT allows Income Tax Deduction u/s 80IA for Thermal Power Plants [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), allowed deduction under Section 80IAof the Income Tax Act, 1961 for thermal power plants thereby granting relief to Birla Corporation. ...
![Relief to Birla Corporation: ITAT allows Income Tax Deduction u/s 80IA for Thermal Power Plants [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Birla-Corporation-ITAT-Income-Tax-Deduction-Thermal-Power-Plants-taxscan.jpg "Relief to Birla Corporation: ITAT allows Income Tax Deduction u/s 80IA for Thermal Power Plants [Read Order]")
Claim of Interest Subsidy from State Govt is Capital Receipt: ITAT grants relief to Birla Corporation [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench granted relief to Birla Corporation Limited and held that Claim of interest subsidy from State Government is capital receipt. The...
![Claim of Interest Subsidy from State Govt is Capital Receipt: ITAT grants relief to Birla Corporation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Interest-Subsidy-Interest-Subsidy-from-State-Govt-Capital-Receipt-ITAT-Birla-Corporation-taxscan.jpg "Claim of Interest Subsidy from State Govt is Capital Receipt: ITAT grants relief to Birla Corporation [Read Order]")
![Rental Income from Installation of IBS tower is Income from House Property: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Rental-Income-Income-Installation-of-IBS-tower-IBS-tower-IBS-House-Property-ITAT-Income-from-House-Property-Taxscan.jpg "Rental Income from Installation of IBS tower is Income from House Property: ITAT [Read Order]")
![Revisional Order passed without DIN is violative of CBDT Circular, Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Revisional-Order-passed-without-DIN-is-violative-of-CBDT-Circular-Invalid-ITAT-TAXSCAN.jpg "Revisional Order passed without DIN is violative of CBDT Circular, Invalid: ITAT [Read Order]")