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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

    Disallowance Claim on Loans written Off to Titan International: ITAT remands matter for Consideration of additional Evidence brought by Assessee [Read Order]

    The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the matter to the AO for a fresh examination concerning the write-off of loans amounting to Rs. 29.52 crore advanced by the...

    Disallowance Claim on Loans written Off to Titan International: ITAT remands matter for Consideration of additional Evidence brought by Assessee [Read Order]
    Saagarika Gopinath

    Setback to Titan as ITAT confirms Legality of Reopening Assessment u/s 147 [Read Order]

    The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) delivered a setback to Titan and upheld the legality of reopening the assessment under Section 147 of the Income Tax Act, 1961. In...

    Setback to Titan as ITAT confirms Legality of Reopening Assessment u/s 147 [Read Order]
    Saagarika Gopinath

    Contractor Ineligible for Deduction u/s 80IA(4) for Management of Solid Waste Management Systems: ITAT upholds CIT(A) Order [Read Order]

    In a recent ruling, the Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the order passed by the Commissioner of Income Tax ( Appeals ) [CIT(A)], that a contractor engaged in solid...

    Contractor Ineligible for Deduction u/s 80IA(4) for Management of Solid Waste Management Systems: ITAT upholds CIT(A) Order [Read Order]
    Saagarika Gopinath

    ITAT directs Deletion of Rs.54L Income Tax Penalty u/s 274 r/w 270A observing No Specific Mention of Clause Invoked u/s270A [Read Order]

    The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) while adjudicating an appeal regarding concealment of Long Term Capital Gains (LTCG), directed the deletion of Income Tax Penalty of...

    ITAT directs Deletion of Rs.54L Income Tax Penalty u/s 274 r/w 270A observing No Specific Mention of Clause Invoked u/s270A [Read Order]
    Avinash Kurungot

    Company cannot Reclassify Expenditure as Revenue if Initially Claimed as Capital in Books: Madras HC [Read Order]

    In a recent ruling, the Madras High Court ruled that a company cannot reclassify an expenditure initially recorded as capital in its books of accounts and later claim it as revenue for tax benefits. ...

    Company - Reclassify Expenditure - Revenue - Initially Claimed - Capital in Books - Madras HC - taxscan
    Kavi Priya

    ITAT Reduces Penalty to Rs 10,000 for Non-Response to Notices, Citing Assessee's Depression and Business Loss [Read Order]

    The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) reduces the penalty levied upon the appellant by Commissioner of Income Tax (Appeals). Jayasakthi Knit Wear,appellant-assessee...

    ITAT Reduces Penalty to Rs 10,000 for Non-Response to Notices, Citing Assessees Depression and Business Loss [Read Order]
    Adwaid M S

    ITAT sets aside CIT(A) Order for Violating Natural Justice, Directs Fresh Adjudication u/s 250(6) [Read Order]

    Chennai Bench of the Income Tax Appellate Tribunal (ITAT) set aside the order passed by the Commissioner of Income Tax (Appeals) for the assessment years 2018-19 to 2020-21, noting that the...

    ITAT sets aside CIT(A) Order for Violating Natural Justice, Directs Fresh Adjudication u/s 250(6) [Read Order]
    Adwaid M S

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