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

Appellate Tribunal can direct the AO to accept a new Claim for Deduction: ITAT Kolkata [Read Order]

Taxscan Team

In a recent ruling, the Kolkata bench, ITAT held that being an appellate authority, the tribunal, has the power to direct the assessing officer to...

Payment of demurrage & Penalty Charges are not Penal in nature, Deduction is Allowable: ITAT Kolkata...

Carrying of Charitable Activity at the Stage of Commencement of Trust is not Relevant to Grant...

Amount deposited with the Wholesale licensee in accordance with the Excise Law procedure cannot be...

Grant-in-Aids are ‘Capital Receipts’: ITAT Kolkata allows Deduction on interest paid for delayed...

Website Development Expenses are ‘revenue’ in nature, Not Taxable: ITAT Kolkata [Read Order]

In a recent ruling, the Kolkata bench of the Income Tax Appellate Tribunal observed that the expenses incurred in respect of website development are in the nature of “revenue expenditure” and...

TDS provisions are not applicable to payment made in respect of Railway Freights through third party: ITAT Kolkata [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal, in recent ruling, held that the provisions of section 194C of the Income Tax Act, 1961 is not applicable in case of payments made by the...

Income from Share Transaction is 'Capital Gain' though Assesses’ primary business is Share Trading: ITAT Kolkata [Read Order]

Recently, the Income Tax Appellate Tribunal, Kolkata has held that the income from transaction of shares has to be categorized under the head 'capital gain' under the provisions of the Income Tax Act,...

CIT cannot exercise its revision powers when the AO allowed the claim of the assessee after proper examination: ITAT Kolkata [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal, in a recent decision held that the Commissioner of Income Tax (CIT) cannot exercise its revision powers under section 263 of the Income Tax Act,...

ITAT Kolkata allows deduction on Securities held by Co-operative society which constitutes ‘stock-in-trade’ [Read Order]

In a recent order of Income Tax Appellate Tribunal Kolkata held that, securities held by banks running co-operative society constitute their stock-in-trade and consequently the notional loss claimed...

Rent received by a ‘licensee’ is ‘Business Income’, not taxable under the head ‘Income form House Property’: ITAT Kolkata [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal in a recent decision ruled that the rental income earned by a licencee is chargeable under the head ‘business income’. The Tribunal further made...

Capital Gain cannot be determined merely on the basis of Stamp Duty: ITAT Kolkata [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal recently ruled that the capital gain cannot be determined solely on the basis of the stamp duty against the actual amount received shown by the...

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