ITAT Kolkata has held in the case of Poonam Bhotika vs. ITO Ward 43(1) Kolkata that Commissioner of Income Tax ( CIT ) does not have power under section 263 to remit the matter to the AO without giving a finding that the order was erroneous or prejudicial to the interest of revenue.
The Kolkata bench of ITAT has held in the case of M/s. Misrilall Mines Pvt. Ltd vs. DCIT CIRCLE 5(1) Kolkata, that peripheral development expenditure as part of CSR is to be considered as revenue expenditure. It also held that if such expenditure was incurred by the company wholly and exclusively for the purposes of the … Continue reading Peripheral Development Expenditure as part of CSR to be considered revenue expenditure
Continuing our analysis on factors that may affect the timeline of a case, we thought of analysing data for different Income Tax Appellate Tribunals and check how they measured against each other. The data used here is for the Mumbai, Delhi, Ahmedabad, Kolkata, and Chennai tribunals, starting from year 2000. The fast and the not so … Continue reading Speed Check of ITAT Forums