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Kolkata Tribunal Upholds CIT(A)'s Deletion of Addition under Section 68, Validates Assessee's Unsecured Loans
DCIT, C. C-4 (2) , KOLKATA VERSUS ALOM EXTRUSIONS LTD.
(2024) TaxCorp(LJ) 33076 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=109601&Category=ITAT&CategoryType=Zip
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Kolkata ITAT Removes Unexplained Loan Addition, Cites Denial of Cross-Examination Rights
Alom Extrusions Ltd. Vs DCIT
(2023) TaxCorp(LJ) 33038 (ITAT-KOLKATA) · Section 68
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ITAT - Kolkata Tribunal Allows Business Expenditure Claim for Compensation Paid Due to Contractual Non-fulfillment.
FARSEEN RUBBER INDUSTRIES LIMITED VERSUS DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7 (1), KOLKATA
(2023) TaxCorp(LJ) 32903 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=109073&Category=ITAT&CategoryType=Zip
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ITAT - Kolkata ITAT Upholds Disallowances on Reimbursement Claims, Validates One-to-One Expenditure Link Requirement.
Dey’s Medical (U.P) Pvt. Ltd Vs Deputy Commissioner of Income-Tax
(2023) TaxCorp(LJ) 32896 (ITAT-KOLKATA) · Section 40(a)(ia)
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Kolkata ITAT Annuls Revision Order for DDT Shortfall, Affirms DDT Liability as Independent
Bijni Dooars Tea Company Ltd Vs Principal Commissioner of Income-tax
(2023) TaxCorp(LJ) 32616 (ITAT-KOLKATA)
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ITAT - Kolkata Tribunal Upholds Penalty for Non-maintenance and Non-auditing of Books of Account.
SARASWATI GUPTA VERSUS INCOME TAX OFFICER KOLKATA
(2023) TaxCorp(LJ) 32605 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=107924&Category=ITAT&CategoryType=Zip
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ITAT - Kolkata Tribunal Rejects Revision u/s 263, Validates AO's Decisions.
IMC LIMITED VERSUS PRINCIPAL COMMISSIONER OF INCOME TAX-4, KOLKATA
(2023) TaxCorp(LJ) 32513 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=107600&Category=ITAT&CategoryType=Zip
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ITAT - Kolkata Tribunal Verdict on Reopening of Assessment and Liabilities Written Back.
GERMINDA PVT. LTD. VERSUS INCOME TAX OFFICER, WARD-7 (1) , KOLKATA
(2023) TaxCorp(LJ) 32468 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=107488&Category=ITAT&CategoryType=Zip
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ITAT - Kolkata ITAT Nullifies Manual Assessment Order Without DIN; Says Late DIN Intimation Breaches CBDT Directive.
Linde India Ltd Vs Deputy Commissioner of Income Tax
(2023) TaxCorp(LJ) 32360 (ITAT-KOLKATA)
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ITAT - Assessee's marketing and sales expenditures related to the project were not allowable due to Ind AS 115 & matching concept
Bengal Peerless Housing Development Company Limited Vs DCIT
(2023) TaxCorp(LJ) 31990 (ITAT-KOLKATA)
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ITAT - Kolkata ITAT Affirms Protocol to DTAA and Rejects CBDT Circular's Influence. Decision underscores the significance of understanding the protocol within a tax treaty and clarifies that lower tax rates, once adopted, should be considered all-inclusive.
TDK India Private Limited Vs Deputy Commissioner of Income Tax
(2023) TaxCorp(LJ) 31970 (ITAT-KOLKATA)
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The interest on enhanced compensation received through an arbitration award is to be treated as part of the said compensation and the same is taxable under the head of long term capital gain and not under income from other sources.
The Baranagar Jute Factory PLC Vs Principal CIT-1
(2023) TaxCorp(LJ) 31821 (ITAT-KOLKATA)
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Section 253(5) provides that ITAT may admit an appeal after the expiry of relevant period if it is satisfied that there was sufficient cause for not presenting it within that period and the term ‘sufficient cause’ has to be construed liberally.
Monitor Vincom Pvt. Ltd Vs ITO
(2023) TaxCorp(LJ) 31770 (ITAT-KOLKATA)
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Power exercised under Section 251 is without jurisdiction, thus the additions made by exercising such power are to be deleted.
Apeejay Shipping Ltd Vs Assistant Commissioner of Income Tax
(2023) TaxCorp(LJ) 31743 (ITAT-KOLKATA)
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If the Assessee has chosen to reap the fruits of the interpretation given by the High Court, the Assessee is also liable to face consequences, if interpretation given by the High Court is reversed or modified by Supreme Court.
Siddhi Vinayaka Graphics Private Limited Vs ADIT
(2023) TaxCorp(LJ) 31585 (ITAT-KOLKATA) · Section 143(1)
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KSPL being a nodal agency, recognized by the Government of Andhra Pradesh for all legal and operational purposes, assessee’s agreement with it cannot be said to be violative of the condition prescribed in Section 80IA(4)(i)(b).
Bothra Shipping Services Pvt. Ltd Vs DCIT
(2023) TaxCorp(LJ) 31495 (ITAT-KOLKATA) · Section 80-IA
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Powers under section 254(2) of the Act are limited only to rectify/correct any mistake apparent from the records. We do not find any mistake apparent from record in the order passed by the Bench.
Tata Medical Centre Trust Vs Commissioner of Income Tax
(2023) TaxCorp(LJ) 31365 (ITAT-KOLKATA) · Section 254(2)
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Conditions stipulated in Section 2(11) of the Black Money Act were not fulfilled to hold the alleged investment as undisclosed foreign asset located outside India, thus Revenue was unjustified to make the impugned addition.
Srinjoy Bose Vs A.D.I.T. (Inv.)-3(4)
(2023) TaxCorp(LJ) 31140 (ITAT-KOLKATA)
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The adjustment of Rs.1.62 Cr made to the book profit under Section 115JB is arbitrary as the Assessee has adequately explained the same.
Bengal Peerless Housing Development Company Limited Vs Deputy Commissioner of Income Tax
(2023) TaxCorp(LJ) 31129 (ITAT-KOLKATA)
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Interest on delayed TDS remittance under Section 201(1A) is not an expenditure wholly and exclusively incurred for business purpose, ineligible for deduction under Section 37(1).
Premier Irrigation Adritec (P.) Ltd. Vs ACIT
(2023) TaxCorp(LJ) 30961 (ITAT-KOLKATA) · Section 37(1)
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