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
![Capital Gain from Sale of Shares cannot be treated as Bogus solely on the basis of Report of Income Tax Dept: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Capital-Gain-Sale-of-Share-Capital-Gain-from-Sale-of-Shares-Report-of-Income-Tax-Dept-ITAT-income-tax-taxscan.jpg "Capital Gain from Sale of Shares cannot be treated as Bogus solely on the basis of Report of Income Tax Dept: ITAT [Read Order]")
Capital Gain from Sale of Shares cannot be treated as Bogus solely on the basis of Report of Income Tax Dept: ITAT [Read Order]
The Chennai Income Tax Appellate Tribunal (ITAT) has recently held that capital gain from sale of shares could not be treated as bogus solely on the...
![AO cannot Change Method followed by Assessee from DCF Method to NAV Method: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/AO-Method-Assessee-DCF-Method-NAV-Method-ITAT-TAXSCAN.jpg "AO cannot Change Method followed by Assessee from DCF Method to NAV Method: ITAT [Read Order]")
![Depreciation at 60% Not Allowable on Robotix Kits: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Depreciation-Robotix-Kits-ITAT-Income-Tax-Tax-Taxscan.jpg "Depreciation at 60% Not Allowable on Robotix Kits: ITAT [Read Order]")
![“Deemed Dividend” Not Applicable to Payment by Company on behalf of Shareholder for Purchase Property as a Stop Gap Arrangement subsequently Re-paid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Deemed-Dividend-Payment-Shareholder-Purchase-Property-Gap-Arrangement-Re-paid-ITAT-Income-Tax-Tax-Taxscan.jpg "“Deemed Dividend” Not Applicable to Payment by Company on behalf of Shareholder for Purchase Property as a Stop Gap Arrangement subsequently Re-paid: ITAT [Read Order]")
![No Addition for Deposits in NRE Account when Assessee has No Source of Income in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Addition-for-Deposits-in-NRE-Account-Source-of-Income-in-India-ITAT-TAXSCAN.jpg "No Addition for Deposits in NRE Account when Assessee has No Source of Income in India: ITAT [Read Order]")
Valid Satisfaction required to Initiate Re-Opening of Assessment u/s 148 of Income Tax Act: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) recently held that the valid satisfaction is required to initiate reopening of assessment under section148 of Income Tax Act. The...
![Valid Satisfaction required to Initiate Re-Opening of Assessment u/s 148 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Satisfaction-Re-Opening-of-Assessment-Income-Tax-Act-ITAT-TAXSCAN.jpg "Valid Satisfaction required to Initiate Re-Opening of Assessment u/s 148 of Income Tax Act: ITAT [Read Order]")
Audit Report u/s 44B furnished along with ITR before Completion of Assessment: ITAT deletes Penalty u/s 271B of Income Tax Act [Read Order]
The Chennai bench of Income Tax Appellate Tribunal ( ITAT ) has recently held that no penalty would be levied if the audit report under section 44B of Income Tax Act 1961 was furnished along with...
![Audit Report u/s 44B furnished along with ITR before Completion of Assessment: ITAT deletes Penalty u/s 271B of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Audit-Report-ITR-Assessment-ITAT-Penalty-Income-Tax-Act-Income-Tax-Tax-Taxscan.jpg "Audit Report u/s 44B furnished along with ITR before Completion of Assessment: ITAT deletes Penalty u/s 271B of Income Tax Act [Read Order]")
![Re-Assessment without Satisfying Conditions of S. 147 of Income Tax Act is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Re-Assessment-Income-Tax-ITAT-taxscan.jpg "Re-Assessment without Satisfying Conditions of S. 147 of Income Tax Act is Invalid: ITAT [Read Order]")
Firm Eligible to Deduct Profit from Sale of Flats Declared as Stock-in-Trade to Partners u/s 80IB (10) of Income Tax Act: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the firm shall be eligible to deduct profit from the sale of flats which are declared as stock-in-trade to partners under...
![Firm Eligible to Deduct Profit from Sale of Flats Declared as Stock-in-Trade to Partners u/s 80IB (10) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Firm-Profit-Sale-of-Flats-Stock-in-Trade-Partners-Income-Tax-Act-ITAT-Taxscan.jpg "Firm Eligible to Deduct Profit from Sale of Flats Declared as Stock-in-Trade to Partners u/s 80IB (10) of Income Tax Act: ITAT [Read Order]")
Income Tax Deduction u/s 10AA of Income Tax Act cannot be Availed without Tax Audit Report: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the Income Tax deduction under Section 10AA of the Income Tax Act 1961 could not be availed without filing a tax audit...
![Income Tax Deduction u/s 10AA of Income Tax Act cannot be Availed without Tax Audit Report: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Income-Tax-Deduction-Income-Tax-Income-Tax-Act-Tax-Audit-Report-ITAT-Taxscan.jpg "Income Tax Deduction u/s 10AA of Income Tax Act cannot be Availed without Tax Audit Report: ITAT [Read Order]")
Assessee cannot be said to carry out Agricultural Activities merely because there were a Few Coconut Trees on Land: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the assessee could not be said to have carried out agricultural activities merely because the land had few coconut trees. ...
![Assessee cannot be said to carry out Agricultural Activities merely because there were a Few Coconut Trees on Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Agricultural-Activities-Coconut-Trees-Land-ITAT-Income-Tax-Tax-Taxscan.jpg "Assessee cannot be said to carry out Agricultural Activities merely because there were a Few Coconut Trees on Land: ITAT [Read Order]")
Capital Gain Deduction u/s 54F cannot be Denied If Assessee Entered into Agreement to Sale within One Year of Sale of Original Asset: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the capital gain deduction under Section 54F of the Income Tax Act 1961 could not be denied if the assessee had entered into...
![Capital Gain Deduction u/s 54F cannot be Denied If Assessee Entered into Agreement to Sale within One Year of Sale of Original Asset: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Capital-Gain-Deduction-Capital-Gain-Agreement-Sale-Original-Asset-ITAT-Income-Tax-Taxscan.jpg "Capital Gain Deduction u/s 54F cannot be Denied If Assessee Entered into Agreement to Sale within One Year of Sale of Original Asset: ITAT [Read Order]")