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ITAT Chennai

Latest Posts in ITAT Chennai

Section 269SS Not Applicable to Broker Acting as Agent or Facilitator of Payment

February 11, 2025 1485 Views 0 comment Print

ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do not receive payments in their own right.

Section 263 Invocation justified as AO passed order without Necessary inquiries

February 9, 2025 222 Views 0 comment Print

ITAT Chennai dismisses FLsmidth’s appeal, upholding PCIT’s order for reassessment due to lack of verification by AO.

ITAT Chennai Remands ₹42.72 Lakh demonetization Cash Deposit addition Case to AO

February 9, 2025 285 Views 0 comment Print

ITAT Chennai sends ₹42.72 lakh cash deposit case back to AO for fresh assessment after assessee fails to justify deposits made during demonetization.

ITAT Chennai Deletes ₹5 Crore Addition as assessee proved source of funds

February 9, 2025 882 Views 0 comment Print

ITAT Chennai deletes ₹5 crore addition u/s 68, holding assessee proved source of funds. Lease deposit deemed genuine, creditworthiness established.

Revision u/s. 263 for invoking penalty provisions u/s. 270A(9)(e) without intimation u/s. 143(1)(a) untenable

February 8, 2025 99 Views 0 comment Print

ITAT Chennai held that revisionary proceedings under section 263 of the Income Tax Act for invoking penalty provisions u/s. 270A(9)(e) without issue of intimation under section 143(1)(a) of the Income Tax Act is unjustifiable and untenable in law.

ITAT Chennai Dismisses Duplicate Income Tax Appeal Filed by Assessee

January 31, 2025 213 Views 0 comment Print

ITAT Chennai dismisses duplicate appeal filed both online and physically by Buckman Laboratories (India) P. Ltd. in AY 2018-19 tax case.

Deduction u/s. 10A not admissible based on defective Form 56F: ITAT Chennai

January 30, 2025 195 Views 0 comment Print

ITAT Chennai held that Form 56F not signed by an accountant, as referred in section 10A(5) of the Income Tax Act, is defective and hence deduction under section 10A of the Income Tax Act not admissible. Accordingly, appeal of revenue allowed.

ITAT Chennai Remands Appeal Due to Incorrect Delay Calculation

January 30, 2025 192 Views 0 comment Print

ITAT Chennai sets aside CIT(A)’s order in Amuthasurabi Educational Trust case, citing incorrect delay calculation. Case sent for fresh adjudication.

ITAT Chennai Allows Foreign Tax Credit Despite Late submission of Form 67

January 29, 2025 489 Views 0 comment Print

ITAT Chennai rules that filing Form 67 for Foreign Tax Credit is directory, not mandatory, dismissing Revenue’s appeal against relief granted to the assessee.

Trusts can Claim Section 11 Exemption if RoI Filed Within Section 139(4A) Timeframe

January 29, 2025 432 Views 0 comment Print

ITAT Chennai overrules CPC denial of exemption u/s 11 for K M Educational Trust, referencing CBDT Circular on filing ITR belatedly within allowed time.

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