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 quashes Revisional Order on ground of Failure to Mention how the Action of AO while framing the Assessment order is Erroneous [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/ITAT-Revisional-Order-AO-Assessment-order-Erroneous-Taxscan.jpg "ITAT quashes Revisional Order on ground of Failure to Mention how the Action of AO while framing the Assessment order is Erroneous [Read Order]")
ITAT quashes Revisional Order on ground of Failure to Mention how the Action of AO while framing the Assessment order is Erroneous [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata bench has quashed a revisional order passed under section 263 of the Income Tax Act, 1961 on the...
![Donation to Local Clubs/Bodies during Festival/Sports to have Good Relation with them is allowable Expenditure: ITAT allows 50% Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Donation-local-clubs-local-bodies-festival-sports-Expenditure-ITAT-Deduction-Taxscan.jpg "Donation to Local Clubs/Bodies during Festival/Sports to have Good Relation with them is allowable Expenditure: ITAT allows 50% Deduction [Read Order]")
![Sales Tax Subsidy received for expansion of Assessees existing industry is Capital in Nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Sales-Tax-subsidy-industry-Capital-in-Nature-ITAT-Taxscan.jpg "Sales Tax Subsidy received for expansion of Assessees existing industry is Capital in Nature: ITAT [Read Order]")
Relief to PwC: ITAT deletes disallowance of Loss arising from Foreign Exchange Fluctuation on Foreign Currency Hedging Contracts [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench while granting the relief to PwC deleted disallowance of loss arising from foreign exchange fluctuation in respect of Foreign Currency Hedging...
![Relief to PwC: ITAT deletes disallowance of Loss arising from Foreign Exchange Fluctuation on Foreign Currency Hedging Contracts [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/PwC-ITAT-Foreign-Exchange-Fluctuation-Foreign-Currency-Hedging-Contracts-Taxscan.jpg "Relief to PwC: ITAT deletes disallowance of Loss arising from Foreign Exchange Fluctuation on Foreign Currency Hedging Contracts [Read Order]")
Land contributed to Firm was withdrawn by Partners during Retirement can't be treated as Settlement of Accounts on Retirement: ITAT
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench ruled that Land contributed to the Firm was withdrawn by Partners during Retirement, can not be treated as settlement of accounts on...
Earnest Money was Forfeited on Cancellation of Land Purchase resulting into Business Loss: ITAT deletes disallowance of Commission
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench allowed the Business Loss in respect of loss on purchase of land or earnest money paid. The assessee, M/s. K.B. Developers is a partnership...
![Revisional Power excised by CIT(A) based on ‘Cut & Paste’ reasoning Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Revisional-Power-CITA-reasoning-Invalid-ITAT-Taxscan.jpeg "Revisional Power excised by CIT(A) based on ‘Cut & Paste’ reasoning Invalid: ITAT [Read Order]")
Assessment without issuance of Notice U/s 143(2) is void ab-initio: ITAT quashes Assessment Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench while quashing the Assessment Order reiterated that the assessment without issuance of notice under section 143(2) is void ab-initio. The...
![Assessment without issuance of Notice U/s 143(2) is void ab-initio: ITAT quashes Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Assessment2.jpg "Assessment without issuance of Notice U/s 143(2) is void ab-initio: ITAT quashes Assessment Order [Read Order]")
![Re-Assessment based on Mistake of Opinion is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Re-Assessment-Mistake-of-Opinion-ITAT-Taxscan.jpeg "Re-Assessment based on Mistake of Opinion is Invalid: ITAT [Read Order]")
Reopening of Assessment Void if Condition Precedent prescribed u/s 147 not fulfilled: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench held that the reopening of assessment void if condition precedent prescribed under section 147 of the Income Tax Act is not fulfilled. The...
![Reopening of Assessment Void if Condition Precedent prescribed u/s 147 not fulfilled: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Reopening-Assessment-Condition-Precedent-ITAT-taxscan.jpeg "Reopening of Assessment Void if Condition Precedent prescribed u/s 147 not fulfilled: ITAT [Read Order]")