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

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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

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

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The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the re-assessment under section 147/148 cannot be made if the Assessing...

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]

Liquidated Damages paid for Non-Compliance of Business Obligations are allowable Expenditure: ITAT...

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

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...

CSR Expenses Deductible from Total Income: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the expenses towards Corporate Social Responsibility ( CSR ) are allowable as a deduction under the provisions of the...

Re-Assessment can’t be made on the basis of Audit Query: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the re-assessment cannot be made on the basis of the audit report. The assessee`s main business is manufacturing and...

Sec 54 Benefit allowable for Investment made in New Residential Property within One year before Sale of Old Asset: ITAT [Read Order]

The Kolkata bench of Income Tax Appellate Tribunal (ITAT) reversed the decision of lower appellate authority in restricting the deduction under Section 54 of Income Tax Act regarding investment made...

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