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

Income Tax Law does not bar Partners to draw Remuneration from More than One Firms: ITAT [Read Order]

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The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the income tax law does not prohibit a partner from drawing remuneration/ salary...

Long-Term Employees Benefits Deductible while Computing Book Profit: ITAT [Read Order]

Firm, not a Shareholder in Pvt Company can’t be Taxed for Deemed Dividend: ITAT [Read Order]

Re-Assessment can’t be made If AO has no ‘Reason to Believe’ for escapement of Income: ITAT [Read...

Fee paid to Non-Professional Accountant not subject to TDS: ITAT [Read Order]

Delay in filing Tax Audit Report is a Technical Venial Breach: ITAT deletes Penalty [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the delay in filing of the tax audit report is a technical venial breach for which, the penalty under Section 271B of the...

Liquidated Damages paid for Non-Compliance of Business Obligations are allowable Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) has held that the liquidated damages paid in nature of contractual liability on account of non-compliance of business obligations to customers are allowable as...

Capital Gain Benefit allowable in case of Part Performance of Contract: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under Section 54F of the Income Tax Act, 1961 is allowable in case of possession handed over as...

Finance Charges paid to NBFCs not subject to TDS: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Kolkata has held that the finance charges to Non-Banking Financial Companies (NBFCs) are not subject to Tax Deduction at Source ( TDS ) under the provisions...

Discount can't be treated as Bogus If Some Customers Denied: ITAT allows Deduction to Developers [Read Order]

“It is the decision of the business-men how much discount is to be allowed to a particular person and it is the prerogative of the assessee to run the business as per the business strategy adopted...

ITAT asks to reconsider Claim for Tax Relief since Assessee produced Tax Residency Certificate during Appellate Proceedings [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has asked the Assessing Officer to re-consider a claim for tax relief as the assessee, a non-resident has produced Tax Residency...

Notice for Penalty issued to Dead Person is Bad in Law: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty notice issued against a dead person is bad in law under the provisions of the Income Tax Act. The assessment...

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