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

Additions Merely Based on Presumptions not Maintainable, When no Defects Found in the Books of Accounts: ITAT [Read Order]

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The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that additions merely based on presumptions...

No Evidence of Rental receipt from Property: ITAT sustain Addition on Cash Deposits into Bank...

Value of Goods Declared for Central Excise Purpose shall be Considered before Concluding upon under...

No Documentary Evidence found in respect of On-Money Receipt: ITAT deletes Income Tax Addition [Read...

Maintenance Charges derived from Letting out Services taxable under the head ‘Income from Other...

Capital Gain Exemption u/s 54 Allowable to More than One Residential Houses: ITAT [Read Order]

Capital gain exemption u/s 54 of the Income Tax Act,1961 is allowable to more than one Residential house, the Chennai Bench of the Income Tax Appellate Tribunal (ITAT) held as above. Shri S....

Proof of Source of Money and Identity of Creditors by Assessee: ITAT upholds deletion of Income Tax Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai upheld the deletion of addition on proof of source of money and identity of creditors by assessee. The assessee, M/s. Sporting Pastime India Ltd...

Retention Money to be offered to Tax in the Year of Receipt: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently in an appeal filed before it, held that retention money is to be offered to tax in the year of receipt. The aforesaid...

Gratuity Entitled for Income Tax Deduction u/s 36 (1)(va): ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently in an appeal filed before it, held that gratuity is entitled for deduction under section 36(1) (va) of the Income tax Act. The...

ITAT deletes Income Tax Addition made solely on Third-party Information [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench deleted addition made solely on third-party information. The assessee, Dr. Sreenivasulu Reddy Ponnaluru is an ENT specialist having...

Commission Income would not come under the Presumptive Taxation, not taxable: ITAT [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Commission Income would not come under the presumptive taxation and is not taxable, liable to exclude from gross...

Assessee Alone can't be Taxed when Land belongs to many Co-owners: ITAT deletes Addition of Capital Gain on Land Acquisition [Read Order]

The Income Tax Appellate Tribunal(ITAT), Chennai Bench, has recently while deciding an appeal filed before it, held that an assessee alone cannot be taxed, when the land belongs to many co-owners. ...

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