![ITAT Confirms Denial of Tax Benefit u/s.54 for Non-Deposit in Capital Gain Account Scheme: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/ITAT-Tax-Non-Deposit-Capital-Gain-Account-Scheme-ITAT-TAXSCAN.jpg "ITAT Confirms Denial of Tax Benefit u/s.54 for Non-Deposit in Capital Gain Account Scheme: ITAT [Read Order]")
ITAT Confirms Denial of Tax Benefit u/s.54 for Non-Deposit in Capital Gain Account Scheme: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai Bench has recently, in an appeal filed before it, confirmed the denial of Tax benefit u/s.54...
![Income Tax Exemption to Trust u/s 11 cannot be Denied in respect of Income from Letting Out of School Auditorium for Public: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Income-Tax-Exemption-Denied-Income-School-Auditorium-Public-ITAT-TAXSCAN.jpg "Income Tax Exemption to Trust u/s 11 cannot be Denied in respect of Income from Letting Out of School Auditorium for Public: ITAT [Read Order]")
![Depositing Unutilized Capital Gain in Deposit Account Scheme: ITAT grants Capital Gain Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Capital-Gain-Deposit-Scheme-ITAT-Capital-Gain-Exemption-TAXSCAN.jpg "Depositing Unutilized Capital Gain in Deposit Account Scheme: ITAT grants Capital Gain Exemption [Read Order]")
![Relief to CRI Group: Royalty paid to Holding Company for Using Brand Name Deductible from Total Income, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/CRI-Group-Royalty-Total-Income-ITAT-TAXSCAN.jpg "Relief to CRI Group: Royalty paid to Holding Company for Using Brand Name Deductible from Total Income, rules ITAT [Read Order]")
![Development Expense and Exchange Fluctuation Loss deducted from Export Turnover must be deducted also from Total Turnover: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Development-Expense-Export-Turnover-must-be-deducted-ITAT-TAXSCAN.jpg "Development Expense and Exchange Fluctuation Loss deducted from Export Turnover must be deducted also from Total Turnover: ITAT [Read Order]")
![Non-Compete Agreement is an Intangible Asset, Depreciation allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Non-Compete-Agreement-is-an-Intangible-Asset-Depreciation-ITAT-TAXSCAN.jpg "Non-Compete Agreement is an Intangible Asset, Depreciation allowable: ITAT [Read Order]")
Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has upheld the disallowance of loss on account of write-off inventory of cotton whenthe capital gains derived from sale of property set...
![Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Capital-Gains-Business-Loss-ITAT-upholds-Disallowance-of-Loss-on-account-of-write-off-Inventory-of-Cotton-TAXSCAN.jpg "Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]")
![Nature of Capital Gain to be determined based on Agreement/Allotment Date: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Nature-of-Capital-Gain-to-be-determined-based-on-Agreement-Allotment-Date-ITAT-TAXSCAN.jpg "Nature of Capital Gain to be determined based on Agreement/Allotment Date: ITAT [Read Order]")
Addition of Long Term Capital Gains not valid if Capital Gains on Transfer of Goodwill is Nil after Consideration of Costs Incurred for Transfer: ITAT grants relief to Univercell [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that addition of long term capital gains are not valid if capital gains on transfer of goodwill is zero after consideration of...
![Addition of Long Term Capital Gains not valid if Capital Gains on Transfer of Goodwill is Nil after Consideration of Costs Incurred for Transfer: ITAT grants relief to Univercell [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Capital-Gains-Goodwill-ITAT-TAXSCAN.jpg "Addition of Long Term Capital Gains not valid if Capital Gains on Transfer of Goodwill is Nil after Consideration of Costs Incurred for Transfer: ITAT grants relief to Univercell [Read Order]")
![No Addition can be made on account of Unsecured Loans if assessee proves Genuineness: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/unsecured-loans-ITAT-Taxscan.jpg "No Addition can be made on account of Unsecured Loans if assessee proves Genuineness: ITAT [Read Order]")
Use of 15% of Plant and Machinery of Existing Business: ITAT allows Tax Benefit to New Undertaking since the Usage was below Specified Limit
The Income Tax Appellate Tribunal (ITAT), Chennai Bench allowed the Tax Benefit to New Undertaking since the Usage was below Specified Limit. The assessee, Mr. Pool Thevar Marimuthu an...
ITAT directs AO to allow Expenditure incurred at Head Office except director Salary against Interest Income [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench directed AO to allow expenditure incurred at Head Office except for director salary against interest income. The assessee, M/s. The...
![ITAT directs AO to allow Expenditure incurred at Head Office except director Salary against Interest Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-AO-expenditure-interest-income-Taxscan.jpg "ITAT directs AO to allow Expenditure incurred at Head Office except director Salary against Interest Income [Read Order]")