ITAT Chennai Judgments, Orders & News | Income Tax Appellate Tribunal

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ITAT Chennai

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

Expenditure Claimed on account of Forward Premium relating to Forward Contracts in respect of Foreign Currency Loans are Capital Expenditure: ITAT [Read Order]

Aparna. M

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that expenditure claimed on account of forward premium relating to...

Subsidy received from Government of India to encourage the Deployment of Biomass Co-Generation...

ITAT upholds Addition Due to Inadequate Maintenance of Books of Accounts [Read Order]

ITAT Allows Interest on Refund u/s 244A of Finance Act, 2016: A Matter of Fairness and Equity [Read...

Cash Payment of Defaulted EMI Instalment to Financier after Cheque Bounce is “Reasonable Cause”:...

Assessee’s Non-Compete Fee Payment for Business Purpose Considered as Revenue Expenditure: ITAT

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) recently ruled that the payment of non-competition fee for business purpose is considered as revenue expenditure. The Assessee ...

Private Religious Trusts not eligible for Registration u/s 12AA of Income Tax Act: ITAT [Read Order]

The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that private religious trusts are not eligible for registration under Section 12AA of the Income Tax Act, 1961. ...

Consideration from Sale of Agricultural Land not Taxable as ‘capital Gains’: ITAT deletes Addition [Read Order]

The Chennai bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition made by the assessing officer and held that consideration received towards sale of agricultural land should not...

ITAT quashes Assessment Order Due to Lack of Opportunity given to be Heard to Assessee u/s 144A [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) recently quashed the assessment order passed under Section 144A of the Income Tax Act due to lack Opportunity to be heard for assessee. ...

ITAT allows Deduction in Respect of written off Irrevocable Advances on Inextricable Link between Advances to Business and Company

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has allowed deduction in respect of written off irrevocable advances based on the inextricable link between advances to business and company....

Dissolved Company Exempted from Income Tax Assessment Proceedings u/s 54(2) of IBC: ITAT [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) recently ruled that the dissolved company is exempt from Income Tax Assessment proceedings under Section 54(2) of the Insolvency and...

ITAT deletes Addition Due to Disallowance of Discounts/Subventions in the Income Tax Assessment u/s 40A

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) deletes the addition due to the disallowance of discounts or subventions in the Income Tax Assessment under Section 40 A of the...

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