India - High Court of Calcutta

High Court Upholds Deletion of Addition Under Section 68 IT Act for Share Capital: Calcutta High Court

Proving Genuineness: Calcutta High Court Clarifies Hurdles for ‘Section 68’ Share Capital Additions In a significant verdict for corporate taxpayers, the Calcutta High Court has reinforced the criteria necessary for the Revenue to challenge share capital under

25 Apr 2025

India - High Court of Calcutta

Absence of Incriminating Material Permits Assessment Under Section 147: Calcutta High Court

Tax Assessment Jurisdiction: High Court Clarifies Boundaries of Section 147 vs 153C In a recent ruling, the Calcutta High Court has provided critical clarity on the jurisdictional boundaries governing tax assessments following search and seizure operations. Justice Om Narayan R...

22 Apr 2025

India - High Court of Calcutta

Calcutta High Court Admits Appeal on Taxability of Written-Off Bad Debts Under Section 28(iv) of the Income Tax Act

Calcutta High Court Scrutinizes 'Double Benefit' Tax Claims in Major Revenue Appeal In a significant move for tax jurisprudence, theCalcutta High Courthas admitted an appeal filed by thePrincipal Commissioner of Income Tax-1, Kolkata, againstHarmuny Entertainment Pvt. Ltd.The case centers on ...

17 Jan 2025

India - High Court of Calcutta

Public Premises Act Overrides Rent Control Acts: Calcutta High Court Rules for Port Authorities

Unlocking Public Space: High Court Confirms PP Act Supremacy Over Rent Control In a significant judicial development, the High Court at Calcutta has reaffirmed the overriding authority of thePublic Premises (Eviction of Unauthorized Occupants) Act,...

15 May 2026

India - National Company Law Tribunal

NCLT Kolkata Approves Composite Scheme of Arrangement for Dollar Industries and Allied Entities, Orders Virtual Meetings

Dollar Industries Streamlines Operations: NCLT Clears Composite Scheme of Arrangement In a significant move for the textiles and investment sector in Eastern India, the National Company Law Tribunal (NCLT) Kolkata Special Bench has paved the way fo...

30 Apr 2026

India - National Company Law Tribunal

NCLT Kolkata Bench Approves Capital Reduction for Royal Securities Ltd Under Section 66 of the Companies Act, 2013

Bridging the Accounting Gap: NCLT Clears Path for Royal Securities’ Capital Realignment In a move aimed at enhancing financial transparency, the Kolkata Bench of the National Company Law Tribunal (NCLT) has sanctioned the reduction of the securities premium accou...

24 Apr 2026

India - High Court of Calcutta

TMC Challenges Speaker’s Decision on Leader of Opposition Appointment

TMC Challenges Speaker’s Decision on Leader of Opposition AppointmentThe political landscape of West Bengal is bracing for a significant judicial intervention as the Trinamool Congress (TMC) has officially moved the

09 Jun 2026

India - Income Tax Appellate Tribunal

AMP Expenses Not 'International Transactions' Under Section 92B: ITAT Kolkata Rules in Akzo Nobel India Tax Dispute

Breaking Down the Tax Burden: ITAT Kolkata Clarifies Key Transfer Pricing Principles for Akzo Nobel In a significant series of rulings covering seven assessment years, theKolkata “C” Bench of theIncome Tax AppellateTribunal(ITAT) has provided much-needed clarity on the tax treatment of expens...

03 Jun 2026

India - Income Tax Appellate Tribunal

ITAT Limits Section 263 Revision Power: Failure to Decide on Merits After Evidence Submission Invalidates Revision Order

When Revision Isn't Enough: ITAT Narrows Scope of Section 263 for Tax Authorities In a significant ruling for corporate taxpayers, the Income Tax Appellate Tribunal (ITAT), Surat Bench, has set aside a revision order passed under Section 263 of the Income-tax Act, 19...

03 Apr 2025

India - Income Tax Appellate Tribunal

ITAT Kolkata Rules in Favor of Philips India on Disputed Transfer Pricing Adjustments: AY 2021-22

Consistent Precedents Anchor Relief: ITAT Kolkata Clears Philips India in Major TP Dispute In a significant ruling for multinational entities operating in India, theIncome Tax Appellate Tribunal(ITAT) Kolkata Bench has provided major relief toM/s. Philips India Ltd.regarding various transfer ...

26 Aug 2025