ITAT Chennai Judgments, Orders & News | Income Tax Appellate Tribunal

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ITAT Chennai

Explore the latest ITAT Chennai judgments, orders, and appellate decisions on direct tax matters from the Chennai bench of the Income Tax Appellate Tribunal

Addition on Share Capital Unsustainable In Absence Of Incriminating Material: ITAT Deletes ₹9.99 Cr Addition u/s 68 [Read Order]

Solony Padhi

The Income Tax Appellate Tribunal Chennai Bench, has held that no addition can be made under Section 68 of the Income Tax Act 1961 in the absence of...

Relief to Johnson Lifts: ITAT Deletes Addition on Advance AMC Charges, Upholds Income Computation...

Chennai Metro Rail Missed Income Tax Notices on Gratuity Disallowance: ITAT Directs De Novo...

Satisfaction Note Lacked Reference of Income Escapement in the Form of Assets Worth ₹50 Lacs: ITAT...

Late Fee for Belated TDS Returns prior to 01.06.2015 invalid in absence of enabling Provision u/s...

Notice u/s 148 issued by JAO instead of FAO Invalidates Reassessment: ITAT Quashes Proceedings [Read Order]

The Chennai Bench of the Income Tax AppellateTribunal (ITAT) quashed a reassessment order and ruled that the issuance of a notice under Section 148 by the JAO, rather than the National...

Old v/s New Limitation: ITAT Quashes AY 2013‑14 Reopening as Old Regime Bars Reassessment Despite New 10‑Year Rule u/s 149 [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ), Chennai, has struck down reassessment proceedings against the respondent for Assessment Year (AY) 2013‑14, holding that the notice...

Police Canteen Transactions with Members Not Business Activity, No Audit Required u/s 44AB: ITAT [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the transactions of a police canteen with its members are governed by the principle of mutuality and do not constitute...

Purchases Attributed to Other Entities: ITAT Deletes ₹2.27 Crore Addition Citing AO's Acceptance of Facts in Remand Report [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) deleted an addition of ₹2,27,76,680 towards alleged unaccounted purchases made under Section 69C of the Income Tax Act, 1961 and...

Trade Payables and Receivables Carried Forward from Earlier Years Not Fresh Credits: ITAT Deletes ₹5.99 Cr total Addition [Read Order]

The Chennai Bench of the Income Tax AppellateTribunal (ITAT) deleted a total addition of ₹5,99,66,944 made under Section 68 and ruled that Section 68 cannot be invoked for "trade payables"...

S. 234E TDS Late Fee Levy Prospective: ITAT Restores Appeal for Fresh Adjudication Subject to Payment of 10k Cost [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) restored the appeal for fresh adjudication by the Commissioner of Income Tax (Appeals) [CIT(A)] for TDS late fee issue subject to...

Capital Gain addition of ₹1.11 Cr Addition for Sale of Agricultural Land: ITAT Restores Matter for verification [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) restored the appeal to the file of the Assessing Officer (AO) for verification in the case involving capital gain addition amounting to...