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 Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]

Yogitha S. Yogesh

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has upheld the disallowance of loss on account of write-off inventory of cotton whenthe...

UPS and Printers are part of Computer Systems, 60 % Depreciation allowable: ITAT [Read Order]

Agricultural Land used for Agricultural purposes is entitled for Exception u/s 2(14) of Income Tax...

Benefit of CBDT Circular providing Ceiling on Holding of Jewellery can be Extended to Jewellery held...

Interest paid on Belated Payments of Service Tax is allowable for deduction u/s 37(1) Income Tax...

Mere impression that Auditor will file appeal is not a Sufficient Cause: ITAT refuses to Condone Delay [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the mere impression that the auditor will file an appeal is not a sufficient cause and refused to condone the delay. ...

Nature of Capital Gain to be determined based on Agreement/Allotment Date: ITAT [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the nature of capital gain as to whether short term or long term capital gain is to be determined on the basis of...

Agricultural Activity carried out and Agricultural Income declared, Sale not taxable as Capital Gains: ITAT [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has recently held, in the case of revenue against the assessee-K. Dhandapani and Co. Ltd. that agricultural activity has been carried out...

Furniture and Maintenance Expenditure does not amount to Capital Expenditure: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal(ITAT) has held that Furniture and Maintenance expenditure does not amount to capital expenditure. T. Banusekar, CA appeared for the appellant...

TDS Credit allowable when Income offered to Tax relating to said TDS: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal( ITAT ) has held that TDS Credit is allowable when Income is offered to tax relating to said TDS. M/s. PKF Sridhar & Santhanam LLP, the...

Mere Making of a Wrong Claim would not attract Income Tax Penalty: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai recently held that mere making of claim would not be attracted Income Tax Penalty. Assesee P.S. Jayaraman claimed exception under section u/s. 54F...

S.40A(2)of Income Tax Act not Applicable to Trade Discount given in Sales Invoice: ITAT [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that Section 40A(2) of the Income Tax Act 1961, would not be applicable to trade discounts given in sales invoices. The...

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