Read the full text of the ITAT Kolkata order in the case of Parasnath Vinimay Pvt. Ltd. vs. CPC. The appeal discusses the income tax exemption on awards received for compulsory acquisition of agricultural land.
ITAT Kolkata held that as provisions of section 43CA of the Income Tax Act are introduced with effect from 1st April 2014, the said provisions are not applicable to ‘agreement to sell’ entered prior to 1st April 2014.
Reviewing Panchiram Nahata Vs ITO case, where ITAT ruled that notional interest income could not be estimated for making disallowances out of interest expenditure
Dive into ITAT’s landmark ruling in Akram Hossain Mullick vs DCIT where machinery repair costs for a petrol pump business are considered as revenue nature.
Explore an analysis of ITAT’s ruling against Timely Commercial P. Ltd for its failure to explain large share premium received, upholding an addition.
ITAT Kolkata held that non-resident Indian who has provided services as an employee outside India (i.e. in Morocco) is entitled to claim benefit of Article 15(1) of the India Morocco DTAA.
Read the full text of the order of ITAT Kolkata in the case of Anirudh Bhuwalka vs DCIT. The ITAT upheld the non-granting of TDS benefits due to non-deposition of TDS in the assessees income.
In an ITAT Kolkata ruling, deduction u/s 80P for AY 2019-20 was allowed due to timely filing within the due date specified by CBDT. The CPC’s adjustment was deemed beyond its jurisdiction before April 2021
ITAT Kolkata held that claim of deduction towards marketing and sales expenses relating to work-in-progress project is allowable in the year in which project is completed and sales are booked in the profit and loss account.
ITAT Kolkata allows the appeal in H.K. Dutta & Co. Vs. ACIT, deleting the addition made under Section 69 of the Income Tax Act for a gold loan obtained from a partner and recorded in the books.
