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
![Amount Incurred towards Optic Fibre Cables is Revenue Expenditure since it was incurred on a recurring basis and there is no enduring Value Benefit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Revenue-Expenditure-Bombay-HC-Taxscan.jpg "Amount Incurred towards Optic Fibre Cables is Revenue Expenditure since it was incurred on a recurring basis and there is no enduring Value Benefit: ITAT [Read Order]")
Amount Incurred towards Optic Fibre Cables is Revenue Expenditure since it was incurred on a recurring basis and there is no enduring Value Benefit: ITAT [Read Order]
The Income Tax Appellate Tribunal recently held that the amount incurred towards optic fiber cables is revenue expenditure under the Income Tax Act...
![Dividend Income can’t be disallowed If it was Earned While making Strategic Investment in Subsidiary Company to Control the Interest: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/Dividend-Distribution-Tax.jpg "Dividend Income can’t be disallowed If it was Earned While making Strategic Investment in Subsidiary Company to Control the Interest: ITAT [Read Order]")
![Advertising Hoardings qualify as ‘Tangible Assests’: ITAT Allows 100% Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Hoardings-Taxscan.jpg "Advertising Hoardings qualify as ‘Tangible Assests’: ITAT Allows 100% Depreciation [Read Order]")
![Loss derived from Trading in Derivatives carried out prior to 25.01.2006 can’t be treated as Speculative Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/ITAT-Taxscan.jpg "Loss derived from Trading in Derivatives carried out prior to 25.01.2006 can’t be treated as Speculative Loss: ITAT [Read Order]")
![Food provided to Employee cannot be treated as Fringe Benefit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Fringe-Benefit-Tax-TaxScan.jpg "Food provided to Employee cannot be treated as Fringe Benefit: ITAT [Read Order]")
Amusement Tax paid before the Due Date of Filing of Income Tax Return is Eligible for Deduction: ITAT [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal recently ruled that Amusement Tax paid before the due date of filing of Income Tax Return is eligible for deduction under the Income tax Act, 1961. ...
![Amusement Tax paid before the Due Date of Filing of Income Tax Return is Eligible for Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/GST-Returns-Taxscan.jpg "Amusement Tax paid before the Due Date of Filing of Income Tax Return is Eligible for Deduction: ITAT [Read Order]")
Interest Expenses can’t be disallowed When Assessee had enough Own Funds which was more than Investments which yielded Tax Free Income: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that interest expenses can’t be disallowed when assessee had own funds which was more than the investments yielded tax free income. ...
![Interest Expenses can’t be disallowed When Assessee had enough Own Funds which was more than Investments which yielded Tax Free Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Interest-Rates-on-Small-Saving-Schemes.jpg "Interest Expenses can’t be disallowed When Assessee had enough Own Funds which was more than Investments which yielded Tax Free Income: ITAT [Read Order]")
ITAT Allows Exemption to Donations made by Trust to a University approved u/s 10(23C)(vi) though both the Entities Claimed Deduction on the same [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently allowed exemption to charitable trust while it made donation to a university approved under section 10(23C)(vi) of the Income Tax Act and...
![ITAT Allows Exemption to Donations made by Trust to a University approved u/s 10(23C)(vi) though both the Entities Claimed Deduction on the same [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Donation-Taxscan.jpg "ITAT Allows Exemption to Donations made by Trust to a University approved u/s 10(23C)(vi) though both the Entities Claimed Deduction on the same [Read Order]")
![Short-Deduction of Tax due to bonafide Confusion would not attract Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/TDS-Taxscan.jpg "Short-Deduction of Tax due to bonafide Confusion would not attract Penalty: ITAT [Read Order]")
ITAT Allows 75% Deduction on Business Promotion Expenditure comprising Credit Card Payments and Club Expenses though there was No Evidence [Read Order]
Kolkata bench of Income Tax Appellate Tribunal recently allowed 75 percent deduction in respect of business promotion expenditure comprising credit card payments and club expenses since there was no...
![ITAT Allows 75% Deduction on Business Promotion Expenditure comprising Credit Card Payments and Club Expenses though there was No Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Deduction-Taxscan.jpg "ITAT Allows 75% Deduction on Business Promotion Expenditure comprising Credit Card Payments and Club Expenses though there was No Evidence [Read Order]")
Reimbursement of Credit Card Payments Incurred by Director on behalf of the Company during Foreign Visits is not Taxable as Perquisite: ITAT [Read Order]
In Gaurav Seksaria v. ITO, the Kolkata bench of the ITAT observed that reimbursement of credit card payments incurred by the Director on behalf of the Company to meet the business expenditure during...
![Reimbursement of Credit Card Payments Incurred by Director on behalf of the Company during Foreign Visits is not Taxable as Perquisite: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Credit-Card-Payments-Taxscan.jpg "Reimbursement of Credit Card Payments Incurred by Director on behalf of the Company during Foreign Visits is not Taxable as Perquisite: ITAT [Read Order]")
ITAT Invalidates Addition made by way of Adjustment to ALP in respect of Transaction of Providing Guarantee to AE [Read Order]
The Income Tax Appellate Tribunal, Kolkata bench in its recent order ruled that Transaction of providing guarantee by the Assessee in respect of a loan taken by its AE constitute ‘International...
![ITAT Invalidates Addition made by way of Adjustment to ALP in respect of Transaction of Providing Guarantee to AE [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Chandigarh-Taxscan.jpg "ITAT Invalidates Addition made by way of Adjustment to ALP in respect of Transaction of Providing Guarantee to AE [Read Order]")