Kolkata Port Trust is a ‘Local Authority’ for Income Tax Purpose

Deputy Commissioner of Income-tax Vs M/s. Kolkata Port Trust (ITAT Kolkata) 1. Both these appeals filed by the revenue against the separate orders of Ld. CIT(A)-10, Kolkata dated 02.02.2016 for AYs. 2005-06 and 2011-12. 2. The only issue to be decided in both the appeals of the revenue is that whether the assessee Port Trust can be assessed in the status of “Local Authority” or in the status of “Company” in the facts and circumstances of the case. 3. At the outset itself, the Ld. AR brought to our notice that for AYs 2003-04 to 2005­06 in ITA No. 2628 to 2630/Kol/2013 preferred by the...