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
![Filing of Income Tax Return within Due Date is Mandatory Not Directory to Claim Benefit u/s 10A: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Filing-of-Income-Tax-Return-Income-Tax-Return-Income-Tax-Due-Date-Mandatory-Claim-Benefit-ITAT-taxscan.jpg "Filing of Income Tax Return within Due Date is Mandatory Not Directory to Claim Benefit u/s 10A: ITAT [Read Order]")
Filing of Income Tax Return within Due Date is Mandatory Not Directory to Claim Benefit u/s 10A: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the filing of the income tax return under section 139 of the Income Tax...
![Income Tax Dept cannot Avail Extended Time Limit for Re-Assessment without New or Tangible Material: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Tax-Dept-income-tax-Extended-Time-Re-Assessment-Tangible-Material-ITAT-Taxscan.jpg "Income Tax Dept cannot Avail Extended Time Limit for Re-Assessment without New or Tangible Material: ITAT [Read Order]")
![Settlement of Dispute under VSVS Scheme on Computing Income in terms of APA between Parties: ITAT orders Re Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Settlement-of-Dispute-VSVS-Scheme-on-Computing-Income-VSVS-Scheme-APA-ITAT-Re-Adjudication-taxscan.jpg "Settlement of Dispute under VSVS Scheme on Computing Income in terms of APA between Parties: ITAT orders Re Adjudication [Read Order]")
![No Evidence to Prove Bogus Purchase, Addition on Account of Estimated Gross Profit not permissible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Evidence-bogus-purchase-Estimated-Gross-Profit-Gross-Profit-ITAT-taxscan.jpg "No Evidence to Prove Bogus Purchase, Addition on Account of Estimated Gross Profit not permissible: ITAT [Read Order]")
![Addition under Head of Undisclosed Stock cant be made based on Incomplete Tally Data from discrepancies: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Undisclosed-Stock-Incomplete-Tally-Data-ITAT-TAXSCAN.jpg "Addition under Head of Undisclosed Stock cant be made based on Incomplete Tally Data from discrepancies: ITAT [Read Order]")
Prior period Expense can't be Added back While Computing Profit & Gain of Business and Profession: ITAT orders to Recompute Book Profit [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that prior period expense can't be added back while computing profit & gain of business and profession. Kavithalayaa...
![Prior period Expense cant be Added back While Computing Profit & Gain of Business and Profession: ITAT orders to Recompute Book Profit [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Expense-Computing-Profit-Gain-Computing-Profit-Gain-Business-Business-and-Profession-ITAT-Income-Tax-Recompute-Book-Profit-Book-Profit-Taxscan-.jpg "Prior period Expense cant be Added back While Computing Profit & Gain of Business and Profession: ITAT orders to Recompute Book Profit [Read Order]")
No Records to prove the Trust Charges Nominal Fee from Weaker Sections to claim Tax Exemption: ITAT directs Re-adjudication
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) directed for re-adjudication as there were no records to prove that the trust charges a nominal fee from the weaker sections to claim the tax...
Relief to Nagarjuna Oil Corporation, Section 271(1)(c) Penalty cannot be imposed on debatable issue: ITAT [Read Order]
As a relief to Nagarjuna Oil corporation, the Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that Section 271(1)(c) of the Income Tax Act,1961 penalty cannot be imposed on a...
![Relief to Nagarjuna Oil Corporation, Section 271(1)(c) Penalty cannot be imposed on debatable issue: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Nagarjuna-Oil-Corporation-Nagarjuna-Oil-Penalty-debatable-issue-ITAT-taxscan-.jpg "Relief to Nagarjuna Oil Corporation, Section 271(1)(c) Penalty cannot be imposed on debatable issue: ITAT [Read Order]")
Freebies to Medical Practitioners are prohibited by Law, Income Tax Deduction u/s 37(1) not allowable: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that freebies to medical practitioners are prohibited by law and deduction under section 37(1) of the Income Tax Act,1961 is not...
![Freebies to Medical Practitioners are prohibited by Law, Income Tax Deduction u/s 37(1) not allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Medical-Practitioners-Law-Income-Tax-Deduction-Income-Tax-ITAT-taxscan.jpg "Freebies to Medical Practitioners are prohibited by Law, Income Tax Deduction u/s 37(1) not allowable: ITAT [Read Order]")
Leave Encashment and Employees provision for Gratuity are ascertained Liability, allowable in Book Profit Computation: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that leave encashment and employee provision for Gratuity is ascertained liability and allowable in book profit computation. ...
![Leave Encashment and Employees provision for Gratuity are ascertained Liability, allowable in Book Profit Computation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Leave-Encashment-Employees-Employees-Gratuity-Gratuity-Book-Profit-Computation-Book-Profit-ITAT-taxscan.jpg "Leave Encashment and Employees provision for Gratuity are ascertained Liability, allowable in Book Profit Computation: ITAT [Read Order]")
Depositing Unutilized Capital Gain in Deposit Account Scheme: ITAT grants Capital Gain Exemption [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT), granted exemption under Section 54 of the Income Tax Act, 1961 (capital gain exemption) on depositing unutilized capital gain in Deposit...
![Depositing Unutilized Capital Gain in Deposit Account Scheme: ITAT grants Capital Gain Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Capital-Gain-Deposit-Scheme-ITAT-Capital-Gain-Exemption-TAXSCAN.jpg "Depositing Unutilized Capital Gain in Deposit Account Scheme: ITAT grants Capital Gain Exemption [Read Order]")
![Owner Selling Property through GPA Holder: ITAT confirms Income as LTCG [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/LTCG-for-Sale-of-Equity-Shares-as-Bogus-Income-Tax-Act-ITAT-confirms-Income-Tax-Addition-TAXSCAN.jpg "Owner Selling Property through GPA Holder: ITAT confirms Income as LTCG [Read Order]")