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

ITAT Deletes Rs.35 Lakh Addition as Unexplained Cash Credit due to Lack of Legal Basis [Read Order]

Adwaid M S

The Income Tax Appellate Tribunal ( ITAT ) Chennai Bench ruled in favor of the appellant, setting aside the Rs. 35 lakh addition made under Section...

ITAT Deletes Rs.12.14 Lakh Addition, Citing CBDT Instruction on Jewellery [Read Order]

Failure by AO to Verify Key Issues During Reassessment: ITAT Upholds PCIT’s order [Read Order]

Rs. 42.72 Lacs Addition for Cash Deposits during Demonetization: ITAT Remands Case to AO [Read...

If Share Application Money is received from identifiable investors, Onus shifts to Income Tax Dept...

ITAT Dismisses Duplicate Appeal Due to Online and Physical Filing [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Chennai Bench, dismissed a duplicate appeal filed by Buckman Laboratories (India) Pvt. Ltd. for the Assessment Year 2018-19. The appeal...

ITAT Weekly Round-Up [Jan 17-Jan 24,2025]

This weekly round-up analytically summarises the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan during the previous week from January 18th to January 24th 2025. ...

'CIT(A) has erred in noting the correct facts': ITAT Remands matter for Fresh adjudication [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) held that the Commissioner of Income Tax ( Appeals ) [ CIT( A ) ] had erred in noting the correct facts submitted by the assessee and...

Loans from IPO Proceeds, Not Borrowed Funds: ITAT directs AO to recompute Interest Disallowance [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer ( AO ) to recompute the disallowance of interest expenses confirming that the loans advanced by the...

Insufficient Evidence to Prove Loan Creditworthiness: ITAT remands Unexplained Cash Deposits matter for Reconsideration [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the matter concerning unexplained cash deposits for reconsideration observing that the assessee failed to provide sufficient...

AO Adds based on Mobile Phone Image Indicating Higher Sale Consideration: ITAT Deletes due to Absence of Corroborative Evidence [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the deletion of additions made by the Assessing Officer ( AO ), based on a non-editable mobile phone image allegedly showing...

Commission Paid to Non-Residents for Services Rendered Outside India Not Taxable Without PE: ITAT [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that commission payments made to non-residents for services rendered outside India are not taxable under the Income Tax Act, 1961,...

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