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 upholds Reopening of Income Tax Assessment: grants partial relief w.r.t. unexplained cash deposits [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-Income-Tax-Assessment-Income-Tax-Assessment-Reopening-unexplained-cash-deposits-Income-Tax-Appellate-Tribunal-taxscan.jpg "ITAT upholds Reopening of Income Tax Assessment: grants partial relief w.r.t. unexplained cash deposits [Read Order]")
ITAT upholds Reopening of Income Tax Assessment: grants partial relief w.r.t. unexplained cash deposits [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) partly allowed the appeal and upheld the reopening of income tax assessment as there...
![Exemption u/s 10(23C)(iv) cannot be rejected if Net Surplus is less than 20% of Total Receipts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Chennai-Net-Surplus-cannot-be-rejected-if-Net-Surplus-Exemption-Taxscan.jpg "Exemption u/s 10(23C)(iv) cannot be rejected if Net Surplus is less than 20% of Total Receipts: ITAT [Read Order]")
![Expense Disallowance u/s 14A exceeds Exempt Income, no Error or Revenue Prejudice Found: ITAT criticizes PCITs unnecessary revision [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-ITAT-ITAT-Chennai-PCIT-Revision-TAXSCAN.jpg "Expense Disallowance u/s 14A exceeds Exempt Income, no Error or Revenue Prejudice Found: ITAT criticizes PCITs unnecessary revision [Read Order]")
![Tamil Nadu Advocates Welfare Fund exempted from Income Tax u/s 23 of AWF Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-ITAT-Chennai-section-23-of-the-AWS-Act-Tamil-Nadu-Advocates-Welfare-Fund-Taxscan.jpeg "Tamil Nadu Advocates Welfare Fund exempted from Income Tax u/s 23 of AWF Act: ITAT [Read Order]")
![Penalty u/s 271B for Not Filing Audit Report: ITAT upholds Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Penalty-under-section-271B-ITAT-Audit-Report-Income-Tax-Appellate-Tribunal-under-section-271-income-tax-news-ITAT-Chennai-taxscan-1.jpg "Penalty u/s 271B for Not Filing Audit Report: ITAT upholds Order [Read Order]")
AO must Forward Draft Assessment to assessee u/s 144 C of Income Tax Act if he proposes to make any variation in ITR: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) held that as per section 144 C of the Income Tax Act, 1961 the Assessing Officer ( AO ) must pass a draft assessment order to the...
![AO must Forward Draft Assessment to assessee u/s 144 C of Income Tax Act if he proposes to make any variation in ITR: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Income-Tax-Act-ITAT-ITAT-Chennai-ITR-Income-Tax-Appellate-TAXSCAN.jpg "AO must Forward Draft Assessment to assessee u/s 144 C of Income Tax Act if he proposes to make any variation in ITR: ITAT [Read Order]")
Bonus paid as CTC to Employees cannot be Disallowed u/s 43B of Income Tax Act: ITAT grants Relief to Renault [Read Order]
In a ruling that grants relief to Renault Nisan Automotive, the Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that bonuses paid as CTC of employees cannot be disallowed under...
![Bonus paid as CTC to Employees cannot be Disallowed u/s 43B of Income Tax Act: ITAT grants Relief to Renault [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Bonus-CTC-Employees-Disallowed-Income-Tax-Act-ITAT-Relief-Renault-taxscan.jpg "Bonus paid as CTC to Employees cannot be Disallowed u/s 43B of Income Tax Act: ITAT grants Relief to Renault [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 Private Limited were not "excessive or...
![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]")
Bonus of Equity Shareholders not Covered under S.2(22)(b) of Income Tax Act, not Taxable as “Other Income” u/s 56(2): ITAT [Read Order]
Concerning the latest case, the Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal made by the assessee as the tribunal agreed to the findings made by the Commissioner...
![Bonus of Equity Shareholders not Covered under S.2(22)(b) of Income Tax Act, not Taxable as “Other Income” u/s 56(2): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-ITAT-Chennai-Income-tax-Equity-Shareholders-Section-222b-Income-Tax-Act-Bonus-Of-Equity-Shareholders-taxscan.jpg "Bonus of Equity Shareholders not Covered under S.2(22)(b) of Income Tax Act, not Taxable as “Other Income” u/s 56(2): ITAT [Read Order]")
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 Wife's name out of Bank Loan [Read Order]
In the recent case, the Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Income-tax Assessing Officer ( AO ) to allow the claim of the assessee under Section 54F of the Income...
![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]")
Family Business of Money Lending for 20 Years: ITAT upholds Addition of Excess Income as ‘Business Income’ [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (I TAT ) upheld the addition of excess income as 'business income' for a family engaged in the money lending business for 20 years. The...
![Family Business of Money Lending for 20 Years: ITAT upholds Addition of Excess Income as ‘Business Income’ [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Money-Lending-Income-Tax-Appellate-Tribunal-ITAT-Chennai-Family-Business-Business-Income-taxscan.jpg "Family Business of Money Lending for 20 Years: ITAT upholds Addition of Excess Income as ‘Business Income’ [Read Order]")