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

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ITAT Kolkata

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 remands back matter to consider pending DVO Report to calculate income from Sale of Land [Read Order]

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The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench remanded back matter to consider pending District Valuation Officer (DVO) Report to...

Interest expenses u/s 36(1)(iii) not allowable for Utilization of Funds for Investment in Shares of...

Utilization of Capital Gain within one year from taking possession of New Flat: ITAT allows...

Profits from Transport of Air Passengers to be taxed in Contracting State as per Indo Bhutan DTAA:...

Disallowance u/s 143(1) cannot be in mechanical manner: ITAT directs to verify on deduction of TDS...

Excess Depreciation Claim cannot Vitiate the benefit of Reduced Tax Rate u/s 115BAA: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench, has recently while deciding an appeal filed before it, held that excess depreciation claim cannot vitiate the benefit of reduced tax rate...

Income Tax Authorities Bound to Follow CBDT Circulars: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench, has recently in an appeal filed before it, held that income tax authorities are bound to follow CBDT circulars. The aforesaid observation...

Once Goodwill is accounted for Books of Account, Goodwill arising upon Amalgamation is eligible for Depreciation u/s 32: ITAT [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has held that once goodwill is accounted for in the books of account, goodwill arising upon amalgamation is eligible for depreciation...

Long Term Capital Gain from Sale of Equity Shares: ITAT denies Claim of Exemption u/s 10(38) [Read Order]

the Income Tax Appellate Tribunal (ITAT), Kolkata Bench denied claim of exemption under Section 10(38) of the Income Tax Act,1961 as there was long term capital gains from the sale of equity shares....

Remuneration including Bonus to Partners duly Supported by Partnership Deed: ITAT Directs Fresh Adjudication on Disallowance [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Kolkata bench, while considering an issue of disallowance under Section 40(b)(v) of the Income Tax Act, 1961, has observed that the...

Non Appreciation of facts in true perspective: ITAT sets aside Revision Order [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata bench consisting of Rajpal Yadav, Vice-President and Rajesh Kumar, Accountant Member held that there was no appreciation of facts in true perspective...

Service Tax component not includible in Gross Receipts for Computing Deemed taxable Income u/s 44BBA: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench held that Service tax component not includible in Gross receipts for computing deemed taxable income under Section 44BBA of the Income Tax Act,...

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