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
![Assessing Officer cannot Review his Own Order by invoking Sec 147 of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Assessing-Officer-ITAT-Taxscan.jpg "Assessing Officer cannot Review his Own Order by invoking Sec 147 of the Income Tax Act: ITAT [Read Order]")
Assessing Officer cannot Review his Own Order by invoking Sec 147 of the Income Tax Act: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that the Assessing Officer (AO) does not have any power to review his own order...
![Payment made for Upgradation of Technology, because of rapid replacement and constant need for existence, is Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Revenue-Expenditure-Bombay-HC-Taxscan.jpg "Payment made for Upgradation of Technology, because of rapid replacement and constant need for existence, is Revenue Expenditure: ITAT [Read Order]")
![It is Assessees’ Duty to ensure that Audited Books are submitted on time and that CA does his job properly: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/Penalty-TaxScan.jpg "It is Assessees’ Duty to ensure that Audited Books are submitted on time and that CA does his job properly: ITAT [Read Order]")
![TDS Provisions not applicable to Foreign Shipping Companies: ITAT Follows CBDT Circular [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/TDS-Taxscan.jpg "TDS Provisions not applicable to Foreign Shipping Companies: ITAT Follows CBDT Circular [Read Order]")
![Investment in Jewellery can’t be treated as Unexplained when it is Reflected in Books & the Source of Fund is Evidenced through Bank A/c: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/05/excise-duty-on-jewellers.jpg "Investment in Jewellery can’t be treated as Unexplained when it is Reflected in Books & the Source of Fund is Evidenced through Bank A/c: ITAT [Read Order]")
![Kolkata Metro Rail Corpn. Ltd gets Tax Relief from ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Kolkata-Metro-Rail-Taxscan.jpg "Kolkata Metro Rail Corpn. Ltd gets Tax Relief from ITAT [Read Order]")
ITAT Deletes Penalty since Non- offering of LTCG to tax was out of Ignorance of Assessee [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that penalty under section 271(1)(c) of the Income Tax Act 1961 cannot be levied since non-offering of Long Term Capital Gain (LTCG)...
![ITAT Deletes Penalty since Non- offering of LTCG to tax was out of Ignorance of Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "ITAT Deletes Penalty since Non- offering of LTCG to tax was out of Ignorance of Assessee [Read Order]")
Kolkata Port Trust is a ‘Local Authority’, not in the status of ‘Company’ for Income Tax Purpose, says ITAT [Read Order]
While dismissing the appeal of revenue Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that Kolkata port trust cannot be assessed in the status of ‘company’ for Income Tax purpose...
![Kolkata Port Trust is a ‘Local Authority’, not in the status of ‘Company’ for Income Tax Purpose, says ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Kolkata-Port-Trust-Taxscan.jpg "Kolkata Port Trust is a ‘Local Authority’, not in the status of ‘Company’ for Income Tax Purpose, says ITAT [Read Order]")
TDS Credit can be granted only in the year in which the Income/Receipt on which such Tax Deducted at Source is Assessable to Tax: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that credit of Tax Deducted at Source (TDS) can be allowed only in the year in which the income or receipt on which TDS is...
Investment Shown under the head ‘Current Asset’ in the balance Sheet can’t be treated as Unexplained: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that if the assessee has disclosed investment under current assets in the balance sheet, then the same cannot be treated as...
![Investment Shown under the head ‘Current Asset’ in the balance Sheet can’t be treated as Unexplained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/Investment-Funds-Taxscan.jpg "Investment Shown under the head ‘Current Asset’ in the balance Sheet can’t be treated as Unexplained: ITAT [Read Order]")
No TDS when Transport Charges are initially incurred by the Suppliers and Subsequently Reimbursed by Assessee: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that when transport charges are initially incurred by the suppliers and subsequently reimbursed by the assessee there is no need of...