Courts: ITAT Kolkata
Find latest ITAT Kolkata judgments, orders and case laws on income tax covering assessments, deductions, transfer pricing, capital gains, TDS, reassessment and penalties.
Rule 8D r.w. section 14A can not be applied for years prior to A.Y. 2008-09 so invoking of provision of section 263 of the IT Act not justified
Security deposited against leased property refundable on completion of tenure cannot be consider as Capital Gain
Assessing Officer (AO) should carefully verify the statement given by the Assessee against any claim made by him
Approval u/s. 80G once granted shall continue to be valid in perpetuity unless a show cause notice issued by CIT showing intention to withdraw such approval
Genuineness of Unsecured Loan if assessee furnished copies of P&L Account, Balance Sheet, I. T. Returns, bank statement alongwith Confirmation
If interest received on accrual basis the addition qua this year interest can be made in this year and not of entire interest
No disallowance U/s. 40(a)(ia) of expenses for short-deduction of TDS
Addition under section 68 not permissible when the advances are received by account payee cheques and interest and shares have been paid and allotted against these advances
When the assessee has received Form 15I from the payee and no deduction is made on that basis, no disallowance can be made u/s 194C only for the reason that the forms were not submitted in time before the jurisdictional CIT
Assessee not eligible for deduction u/s 80IB on the amount disallowed by AO due to delayed payment of employee’s contribution of P.F
Expenses reimbursed to recreation clubs and staff clubs of employees are revenue in nature
S. 50C -Fair Market Value assessed by DVO to be adopted even if its lower than stamp duty valuation
Income derived from repair and maintenance not eligible for Sec 80IB benefits – ITAT Kolkatta
Sec. 269SS Penalty cannot be imposed if cash loan was taken to meet business needs
ITAT Kolkata judgments and orders form an important source of appellate case law on income-tax matters. This page collects Tribunal decisions concerning assessments, additions, deductions, exemptions, business income, capital gains, transfer pricing, international taxation, TDS, reassessment, unexplained income, penalties and procedural disputes. Companies, taxpayers, Chartered Accountants, advocates and tax professionals can use this category to research ITAT Kolkata precedents relevant to their cases. TaxGuru maintains an extensive collection of recent and important earlier ITAT Kolkata decisions, making the page useful for following developments in direct tax jurisprudence and appellate practice.
