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
Higher Sales Shown during Demonetization Period to Cover up Cash Deposits to Bank Accounts: ITAT Directs to treat Addition as Income from Business and Tax at Normal Rates
The Income Tax Appellate Tribunal (ITAT) Chennai bench while directing to treat addition as the income from business and Tax at the normal rates...
![No addition can be made on completed assessment in absence of Incriminating Material found during course of Search: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-addition-No-addition-can-be-made-on-completed-assessment-in-absence-of-Incriminating-Material-assessment-in-absence-of-Incriminating-Material-Incriminating-Material-ITAT-taxscan.jpg "No addition can be made on completed assessment in absence of Incriminating Material found during course of Search: ITAT [Read Order]")
![Satisfaction note is Mandatory Requirement in case of Searched Person before Acquiring Jurisdiction u/s 153C of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Satisfaction-Mandatory-Requirement-in-case-of-Searched-Person-Acquiring-Jurisdiction-Income-Tax-Act-ITAT-TAXSCAN.jpg "Satisfaction note is Mandatory Requirement in case of Searched Person before Acquiring Jurisdiction u/s 153C of Income Tax Act: ITAT [Read Order]")
S.13(1)(c) of Income Tax Act not Applicable when Refund Money Collected from Staff Spent for Maintenance of Trust: ITAT Deletes Addition u/s 69C of Income Tax Act [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has deleted addition under Section 69 of the Income Tax Act 1961, holding that Section 13(1)(c) of the Income Tax Act,1961 not applicable...
![S.13(1)(c) of Income Tax Act not Applicable when Refund Money Collected from Staff Spent for Maintenance of Trust: ITAT Deletes Addition u/s 69C of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/S.131c-of-Income-Tax-Act-not-Applicable-when-Refund-Money-Collected-from-Staff-Spent-for-Maintenance-of-Trust-ITAT-Deletes-Addition-Income-Tax-Act-TAXSCAN.jpg "S.13(1)(c) of Income Tax Act not Applicable when Refund Money Collected from Staff Spent for Maintenance of Trust: ITAT Deletes Addition u/s 69C of Income Tax Act [Read Order]")
Listed shares and Securities treated as Stock-in-Trade by Assessee is to be Treated as Business Income regardless of Period of Holding: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that listed shares and securities which had been treated as stock in trade by assessee should be treated as business income...
![Listed shares and Securities treated as Stock-in-Trade by Assessee is to be Treated as Business Income regardless of Period of Holding: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Listed-shares-and-Securities-treated-as-Stock-in-Trade-by-Assessee-is-to-be-Treated-Business-Income-regardless-of-Period-of-Holding-ITAT-TAXSCAN.jpg "Listed shares and Securities treated as Stock-in-Trade by Assessee is to be Treated as Business Income regardless of Period of Holding: ITAT [Read Order]")
No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench held that no addition could be made on the value of purchase of lands that are recorded in the books of account of assessee. Assessee, Om...
![No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/value-of-purchase-of-lands-purchase-of-lands-addition-Books-of-Account-of-Assessee-Books-of-Account-Assessee-taxscan.jpg "No addition can be made on value of purchase of Lands are recorded Books of Account of Assessee: ITAT [Read Order]")
Receipts that constitute business receipts cannot be held as unaccounted money of the assessee: ITAT directs re-computation [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) held that receipts constitute business receipts and nothing else and therefore, the same could not be held to be unaccounted money of the...
![Receipts that constitute business receipts cannot be held as unaccounted money of the assessee: ITAT directs re-computation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Receipts-Receipts-that-constitute-business-receipts-business-receipts-unaccounted-money-of-the-assessee-unaccounted-money-ITAT-directs-re-computation-ITAT-taxscan.jpg "Receipts that constitute business receipts cannot be held as unaccounted money of the assessee: ITAT directs re-computation [Read Order]")
Initiation of Assessment Proceedings on Non-Consideration of Seized Documents by AO: ITAT Upholds Revision Order [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that The seized documents are never examined by the Assessing Officer (AO) as is apparent from the assessment order and to counter the...
![Initiation of Assessment Proceedings on Non-Consideration of Seized Documents by AO: ITAT Upholds Revision Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Initiation-of-Assessment-Proceedings-Assessment-Proceedings-Non-Consideration-of-Seized-Documents-AO-taxscan.jpg "Initiation of Assessment Proceedings on Non-Consideration of Seized Documents by AO: ITAT Upholds Revision Order [Read Order]")
Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench quashed the application of maximum marginal rate on the trust with known beneficiaries and directed it to apply individual rate upon return of...
![Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Application-of-Maximum-Marginal-Rate-on-Trust-Beneficiaries-ITAT-Rates-TAXSCAN.jpg "Application of Maximum Marginal Rate on Trust with Known Beneficiaries: ITAT directs to apply Individual Rates [Read Order]")
Salary Accrued for Work Performed in Foreign Jurisdiction is not Taxable but Salary Received for Work Performed in India would be Taxable: ITAT Allows Benefits under India-China DTAA [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that salary income as accrued to the assessee for work performed in a foreign jurisdiction would not be taxable in India whereas the...
![Salary Accrued for Work Performed in Foreign Jurisdiction is not Taxable but Salary Received for Work Performed in India would be Taxable: ITAT Allows Benefits under India-China DTAA [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Salary-Accrued-for-Work-Performed-Salary-Accrued-Foreign-Jurisdiction-Salary-Received-for-Work-Performed-in-India-ITAT-Allows-Benefits-under-India-China-DTAA-Salary-Received-India-China-DTAA-taxscan.jpg "Salary Accrued for Work Performed in Foreign Jurisdiction is not Taxable but Salary Received for Work Performed in India would be Taxable: ITAT Allows Benefits under India-China DTAA [Read Order]")