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

Status and Traditional Practices shall be Considered during Addition of Unexplained Jewellery: ITAT Allows Further Benefit of 600 Grams of Jewellery to NRI woman [Read Order]

Fathima Karama A.M

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has allowed the benefit of 600 grams of jewellery to the NRI women observing that the...

Income Tax Penalty cannot be Levied If Tax Audit was not done for a Reasonable Cause but Filed...

ITAT deletes Penalty as Quantum Addition does not Attain Finality [Read Order]

Provision for Capital Gain Exemption u/s 54F are Beneficial Provision, Substantial Compliance would...

Contravention of S. 269SS for Sale of Property for HUF: ITAT Upholds Penalty u/s 271D [Read Order]

Donations to Trust by Conversion of Loans are “Donations paid in Cash”: ITAT allow Income Tax Deduction u/s 80G [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has allowed deduction under Section 80G of the income tax act 1961 observing that the donation to trust by conversion of loans would be...

Income from Sale of Land held as “Stock-in-Trade” by Builder Taxable as “Business Income”, Not “Capital Gain”: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Chennai Bench has recently, in an appeal filed before it, held that the Income from sale of Land considered as “Stock-in- Trade” by builder and Taxable...

ITAT Confirms Denial of Tax Benefit u/s.54 for Non-Deposit in Capital Gain Account Scheme: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Chennai Bench has recently, in an appeal filed before it, confirmed the denial of Tax benefit u/s.54 for non-deposit in Capital Gain Account Scheme. ...

Cash Deposits can be Accepted during Demonetization Period If Source is Explained: ITAT [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the cash deposits could be accepted during the demonetisation period if the source has been explained. The assessee R....

Income Tax Exemption to Trust u/s 11 cannot be Denied in respect of Income from Letting Out of School Auditorium for Public: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that Income Tax exemption to trust u/s 11 cannot be denied in respect of income from letting...

Delay of 9 Days in filing of Appeal can be Condoned since CA was Busy with Income Tax and GST Compliance: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that a delay of 7 days in filing of appeal can be condoned since CA was busy with income tax...

Interest on Late Payment of Direct Taxes Not Deductible under Income Tax Act: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that interest on late payment of direct taxes is not deductible under the Income Tax Act. ...

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