Kolkata ITAT rules refunded advances not taxable income in Lahoti India Ltd. case, overturning a ₹1 crore addition and setting a precedent.
ITAT Kolkata condones 148-day delay in Sandeep Prasad’s appeal citing medical grounds and legal oversight, remanding case to CIT(A) for fresh merits review.
ITAT Kolkata held that dividend distribution tax u/s 115-O of the Act and interest u/s 115P of the Income Tax Act is applicable only to a domestic company and since appellant is a co-operative society and provisions of section 115-O and 115-P will not be applicable.
ITAT Kolkata deletes ₹7.22 Cr addition for Unique Finance & Securities Pvt. Ltd., citing prior year precedent and lack of creditor compliance as insufficient grounds.
ITAT Kolkata held that compensation received for failure of performance guarantee parameter of capital assets [Wind Turbine Generators] is in nature of capital receipt and hence outside the purview of taxation. Accordingly, appeal of assessee allowed.
Kolkata ITAT nullifies NFAC’s duplicate assessment order for AY 2015-16, citing miscommunication after assessee’s appeal was already resolved.
Kolkata ITAT dismisses revenue’s appeal against education cess deduction for AVR Storage Tank Terminals. Previous ITAT order set aside the CIT(A) decision, rendering current appeal infructuous.
ITAT Kolkata allows Indiano Chrome Pvt Ltd Section 115BAB tax benefit for AY 2023-24, citing prior year compliance and single-time form filing.
ITAT Kolkata sets aside tax demand on Cossimbazar Trust, ruling that income application (expenditure) must be considered under Section 143(1) for registered trusts.
ITAT Kolkata directs CIT(A) to issue a speaking order on merits, setting aside an ex parte dismissal in an income tax appeal.
