![Consultancy Charges paid to Resident Director not Excessive or Unreasonable: ITAT allows Company’s Deduction Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-ITAT-Chennai-Consultancy-Charges-Resident-Director-Company-Deduction-Claim-Income-Tax-Appellate-Tribunal-taxscan.jpg "Consultancy Charges paid to Resident Director not Excessive or Unreasonable: ITAT allows Company’s Deduction Claim [Read Order]")
Consultancy Charges paid to Resident Director not 'Excessive or Unreasonable': ITAT allows Company’s Deduction Claim [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) determined that the consultancy charges paid to a resident director by M/s Egberts India...
![Beneficial provision of S.54 F should be given a Liberal Construction to the Maximum Extent Possible: ITAT upholds Full Deduction for Purchase of Property in Wifes name out of Bank Loan [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-ITAT-ITAT-Chennai-Income-Tax-Appellate-Tribunal-Income-Tax-Officer-TAXSCAN.jpg "Beneficial provision of S.54 F should be given a Liberal Construction to the Maximum Extent Possible: ITAT upholds Full Deduction for Purchase of Property in Wifes name out of Bank Loan [Read Order]")
![Penalties u/s 269SS and 269T cannot be Levied on Company for Receipt/ Repayment of Cash Loans from Directors out of Business Exigency: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/site-img-22.jpg "Penalties u/s 269SS and 269T cannot be Levied on Company for Receipt/ Repayment of Cash Loans from Directors out of Business Exigency: ITAT [Read Order]")
![Half Yearly Income Tax Digest: ITAT Rulings 2024 [Part II]](https://www.taxscan.in/wp-content/uploads/2024/07/Half-Yearly-Case-Digest-ITAT-Case-Digest-Half-Yearly-Income-Tax-Digest-Income-Tax-TAXSCAN.jpg "Half Yearly Income Tax Digest: ITAT Rulings 2024 [Part II]")
![Discrepancy in Excess Stock accumulated during Normal Business Assessable as “Business Income”, S. 69B r.w.s S. 115BBE Not Applicable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-Chennai-Income-tax-Discrepancy-in-Stock-Business-Income-taxscan.jpg "Discrepancy in Excess Stock accumulated during Normal Business Assessable as “Business Income”, S. 69B r.w.s S. 115BBE Not Applicable: ITAT [Read Order]")
Utilising specific Money deposited in Capital Gain Account Scheme towards New Investment is not Mandated under Income Tax Act: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) held that utilising specific money deposited in a capital gain account scheme towards new investment is not mandated under the Income...
![Utilising specific Money deposited in Capital Gain Account Scheme towards New Investment is not Mandated under Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-income-tax-act-2024-Money-deposited-capital-gain-investment-TAXSCAN.jpg "Utilising specific Money deposited in Capital Gain Account Scheme towards New Investment is not Mandated under Income Tax Act: ITAT [Read Order]")
Trust mistakenly applies for Registration u/s 12A (1)(ac)(ii) instead of 12A(1)(ac)(iii) of Income Tax Act: ITAT directs Readjudication [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) sets aside the order of the Commissioner of Income Tax (Exemption) [(CIT(E)] and directs re-adjudication after a trust mistakenly...
![Trust mistakenly applies for Registration u/s 12A (1)(ac)(ii) instead of 12A(1)(ac)(iii) of Income Tax Act: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Income-tax-news-Commissioner-of-Income-Tax-Trust-registration-Trust-taxation-Trust-taxing-mistake-taxscan.jpg "Trust mistakenly applies for Registration u/s 12A (1)(ac)(ii) instead of 12A(1)(ac)(iii) of Income Tax Act: ITAT directs Readjudication [Read Order]")
Satisfaction Note not provided: ITAT rejects Assessment Order due to Oversight and Typographical Error u/s 143(3) of Income Tax Act [Read Order]
The Chennai bench Income Tax Appellate Tribunal ( ITAT ), rejected the assessment order under Section 143(3) of the Income Tax Act, 1961, due to oversight and typographical error, as the satisfaction...
![Satisfaction Note not provided: ITAT rejects Assessment Order due to Oversight and Typographical Error u/s 143(3) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Chennai-Income-Tax-Satisfaction-Note-TAXSCAN.jpg "Satisfaction Note not provided: ITAT rejects Assessment Order due to Oversight and Typographical Error u/s 143(3) of Income Tax Act [Read Order]")
![Non filing of TDS u/s 234 E of Income Tax Act for 8 years: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Income-Tax-ITAT-ITAT-Chennai-Non-filing-of-TDS-filing-of-TDS-taxscan.jpg "Non filing of TDS u/s 234 E of Income Tax Act for 8 years: ITAT dismisses Appeal [Read Order]")
![ITAT Annual Digest [Part 64]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Annual-Digest-Taxscan-ITAT-stories-ITAT-2023-analysis-Tax-tribunal-case-summaries-Income-Tax-Appellate-Tribunal-ITAT-cases-2023-taxscan.jpg "ITAT Annual Digest [Part 64]")
![ITAT Annual Digest [Part 45]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Annual-Digest-Tax-tribunal-updates-Income-Tax-Appellate-Tribunal-analysis-Income-tax-updates-2023-taxscan.jpg "ITAT Annual Digest [Part 45]")
Consideration received on Termination of Call Option Agreement that Relinquishes Purchase of Shares is Transfer under Income Tax Act Taxable as Capital Gains: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that according to the Income Tax Act, 1961 the consideration received upon terminating a call option agreement that foregoes the...
![Consideration received on Termination of Call Option Agreement that Relinquishes Purchase of Shares is Transfer under Income Tax Act Taxable as Capital Gains: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Consideration-received-Termination-Call-Option-Agreement-Relinquishes-Purchase-of-Shares-Transfer-under-Income-Tax-Act-Taxable-Capital-Gains-ITAT-taxscan.jpg "Consideration received on Termination of Call Option Agreement that Relinquishes Purchase of Shares is Transfer under Income Tax Act Taxable as Capital Gains: ITAT [Read Order]")