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
![Transfer of Capital Assets by a Company to Step down 100% Subsidiary Company would not attract Capital Gain Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Capital-Gain-Tax-Taxscan.jpg "Transfer of Capital Assets by a Company to Step down 100% Subsidiary Company would not attract Capital Gain Tax: ITAT [Read Order]")
Transfer of Capital Assets by a Company to Step down 100% Subsidiary Company would not attract Capital Gain Tax: ITAT [Read Order]
While hearing the case between M/s. Emami Infrastructure Limited vs. Income Tax Officer (ITO), Kolkata bench of Income Tax Appellate Tribunal (ITAT)...
![Provisions of Deemed Dividend not applicable to Current Account Transactions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Deemed-Dividends-Taxscan.jpg "Provisions of Deemed Dividend not applicable to Current Account Transactions: ITAT [Read Order]")
![No TDS Liability since Commission to Foreign Agent is not subject to Income Tax in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/TDS-Taxscan.jpg "No TDS Liability since Commission to Foreign Agent is not subject to Income Tax in India: ITAT [Read Order]")
![Expenses incurred by Company for Advertising Achievement of its Managing Director is Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Business-Expenditure-Taxscan.jpg "Expenses incurred by Company for Advertising Achievement of its Managing Director is Business Expenditure: ITAT [Read Order]")
Penalty won’t attract When the Addition on Account of Deeming Fiction is based on some kind of estimate given by Govt. Valuer: ITAT [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal comprising N.K. Saini, (Accountant Member) and Amit Shukla, (Judicial Member) said that penalty cannot be levied when the addition on account of...
![Penalty won’t attract When the Addition on Account of Deeming Fiction is based on some kind of estimate given by Govt. Valuer: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "Penalty won’t attract When the Addition on Account of Deeming Fiction is based on some kind of estimate given by Govt. Valuer: ITAT [Read Order]")
Sale consideration of Property seized by IT Department can’t be treated as Amount Invested as per S. 54EC Bond: ITAT [Read Order]
In the case of Jitender Singh Marvaha vs. D.DI.T, the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the number of sale proceeds of the property seized by Income Tax...
![Sale consideration of Property seized by IT Department can’t be treated as Amount Invested as per S. 54EC Bond: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/54EC-Bond.jpg "Sale consideration of Property seized by IT Department can’t be treated as Amount Invested as per S. 54EC Bond: ITAT [Read Order]")
![Sales Tax Subsidy is Capital Receipt, Not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Subsidy-Taxscan.jpg "Sales Tax Subsidy is Capital Receipt, Not Taxable: ITAT [Read Order]")
Mere sustaining of addition on the basis of Entries in the Credit Card Account would not attract Penalty: ITAT [Read Order]
The Kolkata bench of ITAT, in the case of Joy Barman vs. Income Tax Officer, ruled that mere sustaining of addition on the basis of entries in the credit card account would not attract penalty under...
Interest income from Surplus Fund invested in Short Term Deposits and Securities is ‘Other Income’: ITAT [Read Order]
The Kolkata bench of the ITAT recently held that the interest from surplus fund invested in Short-Term Deposits and Securities is taxable as “Income from Other Sources” under the Income Tax Act, 1961....
![Interest income from Surplus Fund invested in Short Term Deposits and Securities is ‘Other Income’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Cash-deposit-min.jpg "Interest income from Surplus Fund invested in Short Term Deposits and Securities is ‘Other Income’: ITAT [Read Order]")
Expenses towards Medical Reimbursement to Employees would not attract Fringe Benefits Tax: ITAT [Read Order]
The Kolkata bench of ITAT in the case of Tata Global Beverages Ltd. versus A.C.I.T held that expenditure incurred by the employer towards medical reimbursement to his employees would not constitute...
![Expenses towards Medical Reimbursement to Employees would not attract Fringe Benefits Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Fringe-Benefit-Tax-TaxScan.jpg "Expenses towards Medical Reimbursement to Employees would not attract Fringe Benefits Tax: ITAT [Read Order]")
Income from Share Transactions is Taxable as ‘Capital Gain’ if the ‘Initial Intention’ of assessee was to make Investment: ITAT [Read Order]
The Kolkata bench of the ITAT, while considering the case of I.T.O, Wd-12(1), Kolkata Vs. M/s Nupur Carpets Pvt. Ltd, held that the income from share transactions is taxable as “capital gain” under...
![Income from Share Transactions is Taxable as ‘Capital Gain’ if the ‘Initial Intention’ of assessee was to make Investment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Investment-Taxscan.jpg "Income from Share Transactions is Taxable as ‘Capital Gain’ if the ‘Initial Intention’ of assessee was to make Investment: ITAT [Read Order]")