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

Capital Gain Exemption u/s 54 cannot be Denied on Acquiring New House Property in the Name of Wife: ITAT [Read Order]

Gayathri C.H

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that capital gain exemption u/s 54 cannot...

Revisional Jurisdiction u/s 263 cannot be Invoked for “Inadequate Enquiry”: ITAT [Read Order]

Capital Gain from Sale of Shares cannot be treated as Bogus solely on the basis of Report of Income...

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]

“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]

The Chennai Income Tax Appellate Tribunal ( ITAT ) has recently held that deemed dividend would not be applicable to payment by company on behalf of shareholder for purchase property as a stop gap...

No Addition for Deposits in NRE Account when Assessee has No Source of Income in India: ITAT [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that no addition could not be made for deposit in Non-Resident External (NRE) account when the assessee had no source of income in...

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...

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...

Re-Assessment without Satisfying Conditions of S. 147 of Income Tax Act is Invalid: ITAT [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the re assessment without satisfying conditions of Section 147 of the Income Tax Act 1961 would be invalid. the...

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...

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...

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