ITAT Chennai

On failure to prove agriculture activity, Income can be treated as non-agricultural

Shri Subramanian Sivaraj Vs ITO (ITAT Chennai)

Whether the AO is correct in making addition in the return by considering the income as not from agriculture on the failure of Assessee to prove agriculture activity?...

Read More

Depreciation eligible on intangible asset viz., goodwill/ customer list

Rentokil India Pvt. Ltd. Vs DCIT (ITAT Chennai)

The issue under consideration is whether the assessee is correct in claiming depreciation on customer list and goodwill by considering it as intangible asset?...

Read More

No TDS on Reimbursement of Leased Line Expense to Parent Company

DCIT Vs International Flavours & Fragrances (I) P. Ltd., (ITAT Chennai)

DCIT Vs International Flavours & Fragrances (I) P. Ltd., (ITAT Chennai) Where assessee-company reimbursed community expenses to foreign company for utilising leased lines services situated outside India, said payment not being in nature of ‘royalty’ within meaning of section 9(1)(vi), assessee was not liable to deduct tax ...

Read More

Allotment of Share at High Premium for Cash | Gift | Lifting of corporate veil | Section 56(2)(viia)

Vaani Estates Pvt. Ltd. Vs The ITO (ITAT Chennai)

Vaani Estates Pvt. Ltd. Vs ITO (ITAT Chennai) Provisions of Section 56(2)(viib) of the Act, cannot be invoked in the case of the assessee company because by virtue of cash being brought into the assessee company by Mrs. Sasikala Raghupathy for allotment of equity shares with unrealistic premium the benefit has only passed on to […]...

Read More

ITAT remits back case of Actor Dulquer Salmann to AO

ACIT Vs. Shri Dulquer Salmann (ITAT Chennai)

ITAT Remit Back the case of Actor Dulquer Salmann (Assessee)  back to Assessing Officer (AO) as Information reconciling  source for investments which were added as undisclosed income were placed before it but not placed before AO....

Read More

No Section 194H TDS on discounts on prepaid SIM Cards or Talktime 

ACIT Vs Vodafone South Ltd (ITAT Chennai)

The issue under consideration is whether TDS u/s 194H is applicable on discounts allowed for prepaid SIM Cards/ Talktime as distributor margin?...

Read More

Re-Assessment justified against former Cricketer Srikanth

Shri K. Srikanth Vs ACIT (ITAT Chennai)

Reassessment was justified by the income tax department against former Indian Cricket Team Captain Krishnamachari Srikanth and non compete fee of Rs. 7.50 crores was exempt from tax being capital receipt;...

Read More

Capital Gain tax liable on property sold by bank to recover loan given to group concerns

T.S. Hajee Moosa & Co Vs. ACIT (ITAT Chennai)

The issue under consideration is whether Capital Gains will be applicable in case where Bank sold the property of group concern as it failed to repay the loan?...

Read More

Reassessment u/s 147 without any tangible material to support escapement of income not justified

SPR & RG constructions Pvt. Ltd. Vs ACIT (ITAT Chennai)

SPR & RG constructions Pvt. Ltd. Vs ACIT (ITAT Chennai) The issue under consideration is whether the reasons for reopening of assessment u/s 147 are justified? The reasons recorded for reopening are on the basis of the audited accounts of the assessee i.e., specifically perusal of Schedule 30 of the profit and loss account and [&helli...

Read More

Browse All Categories

CA, CS, CMA (4,807)
Company Law (6,163)
Custom Duty (7,796)
DGFT (4,244)
Excise Duty (4,368)
Fema / RBI (4,245)
Finance (4,457)
Income Tax (33,467)
SEBI (3,528)
Service Tax (3,564)