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
Customary Practice of NRI Providing Cash to Parents not 'Suspicious': ITAT deletes Cash Deposit by NRI out of Savings of Family Members
The Income Tax Appellate Tribunal (ITAT), Chennai bench comprising Shri Mahavir Singh (Vice President) and Shri Manoj Kumar Aggarwal, (AM) has...
![Payment towards Buyback of Shares not Genuine: ITAT upholds Order against Cognizant Technology [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Payment-Buyback-of-Shares-ITAT-Cognizant-Technology-taxscan.jpeg "Payment towards Buyback of Shares not Genuine: ITAT upholds Order against Cognizant Technology [Read Order]")
![Defect of a belated Jurisdictional Notice is not Curable u/s 292B of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITAT-Chennai-Jurisdictional-Notice-Income-Tax-Act-ITAT-Taxscan.jpeg "Defect of a belated Jurisdictional Notice is not Curable u/s 292B of the Income Tax Act: ITAT [Read Order]")
![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]](https://www.taxscan.in/wp-content/uploads/2022/06/Relinquishment-Property-Income-Capital-Gains-Deduction-ITAT-Taxscan.jpg "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]")
![Short-Payment of Invoices can be treated as Business Loss even If Claim is not substantiated with Specific Invoices: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Short-Payment-Business-Loss-Invoices-ITAT-taxscan.jpeg "Short-Payment of Invoices can be treated as Business Loss even If Claim is not substantiated with Specific Invoices: ITAT [Read Order]")
Loss arising out of Foreign Currency Term Loan as Capital Loss, Depreciation allowed on Cost of Asset including Forex: ITAT [Read Order]
Loss arising out of foreign currency term loan as a capital loss, Chennai bench of Income Tax Appellate Tribunal (ITAT) allowed depreciation on the cost of assets including forex. The assessee...
![Loss arising out of Foreign Currency Term Loan as Capital Loss, Depreciation allowed on Cost of Asset including Forex: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/foreign-currency-capital-loss-depreciation-asset-forex-ITAT-Taxscan.jpeg "Loss arising out of Foreign Currency Term Loan as Capital Loss, Depreciation allowed on Cost of Asset including Forex: ITAT [Read Order]")
Property Purchased by Coparceners of HUF in their Individual Capacity is Assessable u/s 64(2)(b): ITAT upholds Revision [Read Order]
The Chennai Income Tax Appellate Tribunal (ITAT) presided by Mr. Mahavir Singh, Vice President and Mr. Manoj Kumar Aggarwal, Accountant Member has held that property purchased by coparceners of Hindu...
![Property Purchased by Coparceners of HUF in their Individual Capacity is Assessable u/s 64(2)(b): ITAT upholds Revision [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Property-Purchased-HUF-Individual-Capacity-ITAT-Taxscan.jpg "Property Purchased by Coparceners of HUF in their Individual Capacity is Assessable u/s 64(2)(b): ITAT upholds Revision [Read Order]")
Cash Payments to Suppliers cannot be Disallowed since Genuineness of Payment and Existence of Suppliers were Proved: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the cash payments made to suppliers cannot be disallowed by invoking section 40A(3) of the Income Tax Act, 1961 by...
![Cash Payments to Suppliers cannot be Disallowed since Genuineness of Payment and Existence of Suppliers were Proved: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Cash-Payments-Suppliers-ITAT-Taxscan.jpeg "Cash Payments to Suppliers cannot be Disallowed since Genuineness of Payment and Existence of Suppliers were Proved: ITAT [Read Order]")
![Service Tax is not payable until consideration is received: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Service-Tax-payable-ITAT-Taxscan.jpeg "Service Tax is not payable until consideration is received: ITAT [Read Order]")
![ITAT deletes Addition on Refund of Advance under Sale Agreement in Installments [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITAT-Refund-Sale-Agreement-Installments-Taxscan.jpeg "ITAT deletes Addition on Refund of Advance under Sale Agreement in Installments [Read Order]")
![No Scope for Extrapolate and Estimate Undisclosed Income for Block Assessment Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Undisclosed-Income-Block-Assessment-Proceedings-ITAT-Taxscan.jpeg "No Scope for Extrapolate and Estimate Undisclosed Income for Block Assessment Proceedings: ITAT [Read Order]")
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 u/s 40(a)(ia) is not applicable When the Recipient has included Receipt in their Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Disallowance-recipient-receipt-Income-ITAT-Taxscan.jpeg "Disallowance u/s 40(a)(ia) is not applicable When the Recipient has included Receipt in their Income: ITAT [Read Order]")