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

Income Tax Penalty cannot be Levied If Tax Audit was not done for a Reasonable Cause but Filed before Completion of Assessment [Read Order]

Fidha Lulu K G

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) recently held that the income tax penalty cannot be levied if tax audit was not done for a...

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...

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. ...

Replacement Expenditure cannot be treated as “Current Repairs”: ITAT denies Revenue Expenditure Claim [Read Order]

The Chennai bench of Income Tax Appellate Tribunal (ITAT) recently denied revenue expenditure claim and held that replacement expenditure could not be treated as current repairs. Assessee Tanfac...

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