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

Compensation Received for Relinquishment of Right in a Property is assessable under ‘Income from Capital Gains’ and eligible for Deduction u/s 54F: ITAT [Read Order]

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The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) presided by Mr. I G. Manjunatha, Accountant Member, and Mr. Anikesh Banerjee,...

Short-Payment of Invoices can be treated as Business Loss even If Claim is not substantiated with...

Loss arising out of Foreign Currency Term Loan as Capital Loss, Depreciation allowed on Cost of...

Property Purchased by Coparceners of HUF in their Individual Capacity is Assessable u/s 64(2)(b):...

Cash Payments to Suppliers cannot be Disallowed since Genuineness of Payment and Existence of...

Service Tax is not payable until consideration is received: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ), in a significant ruling has held that service tax is not payable until consideration was received. The appeal was against the...

ITAT deletes Addition on Refund of Advance under Sale Agreement in Installments [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has recently deleted an addition in respect of receiving refund of advance paid by the assessee under a sale agreement in installments. ...

No Scope for Extrapolate and Estimate Undisclosed Income for Block Assessment Proceedings: ITAT [Read Order]

The Chennai bench of Income Tax Appellate Tribunal has held that no scope for extrapolate and estimate undisclosed income for block assessment proceedings. During the course of assessment...

Disallowance u/s 40(a)(ia) is not applicable When the Recipient has included Receipt in their Income: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the disallowance u/s 40 (a) (ia) of the Income Tax Act is not applicable when the recipient included the receipt in their...

Disallowance of Excess Remuneration to Directors: ITAT holds Section 40 A(2)(b) can’t be invoked without Corroborative Evidence [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench, has held that section 40 A(2)(b) can’t be invoked without corroborative evidence and set aside the order of the Commissioner of Income Tax...

WhatsApp Messages are 'Dumb Document' without Corroborative Evidence: ITAT quashes Addition against BJP MLA for alleged Distribution of Cash for Votes [Read Order]

In a major relief to BJP MLA Shri A John Kumar, the Income Tax Appellate Tribunal (ITAT), Chennai bench has deleted an addition under section 69C of the Income Tax Act for alleged distribution of...

Cash Deposit arising out of Sale of Agricultural Land cannot be treated as Unexplained: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench, while allowing an appeal of the assessee, held that the cash deposit arising out of sale of agricultural land cannot be treated as unexplained...

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