ITAT Chennai

Section 80-IB(10): Open terrace area excluded by Local Authority from working of built-up area cannot be included by revenue

The Deputy Commissioner of Income Tax Vs. M/s. Acestar Properties Pvt. Ltd (ITAT Chennai)

The Income Tax Appellate Tribunal (ITAT) Chennai, on Wednesday, brought in further clarity to one of its previous orders regarding the inclusiveness of private open terrace in build-up area of a flat, for the purpose of deductions as per Section 80-IB(10) of the Income Tax Act. ...

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TDS U/s. 194J not applicable on Roaming Charges

The Assistant Commissioner of Income Tax Vs. M/s Vodafone Mobile Service Ltd. (ITAT Chennai)

Tribunal found that roaming charges cannot be considered as fee for technical services, therefore, the provisions of Section 194J of the Income-tax Act, 1961 is not applicable. ...

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Confirmation letter by creditor establishes only identity & not creditworthiness & genuineness

A. Godwin Maria Visuvasam Vs. ITO (ITAT Chennai)

A. Godwin Maria Visuvasam Vs. ITO (ITAT Chennai) Merely furnishing of confirmation letter by a creditor, as it again well settled, does not would at best only establish identity of the creditors. There was nothing on record establishing creditworthiness of the creditors and/or genuineness of impugned loans and advances in the instant case...

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Two different floors of one house property cannot be treated as two different residential houses

ITO Vs. Nathamuni Krishnaswamy Balaji (ITAT Chennai)

Where assessee purchased Ground Floor of the house property and had also purchased first floor of the said house property and deduction for both the ground floor and the first floor under section 54F by treating both the floors as one single residential unit thus he was entitled to became two different floors of one house property could n...

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No Taxability under Income Tax Provisions if no tax under respective DTAA

DCIT Vs. Ford India Limited (ITAT Chennai)

Recently, in DCIT vs. Ford India Limited & vice-versa[I.T.A. Nos. 673 and 840 /Chny/2015 and I.T.A. Nos. 748 and 749 /Chny/2015, A.Y. 2011-12 and 2012-13, decided on 31.01.2017], one of the question raised before ITAT, Chennai was whether CIT(A) erred in deleting the tax...

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Power to rectify a mistake U/s. 254(2) cannot be used to recall entire order

Technip India Ltd. Vs. Asst. CIT (ITAT Chennai)

Section 254 does not indicate that Tribunal can recall entire order and pass a fresh decision and power to rectify a mistake under section 254(2) could not be used for recalling entire order....

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ITAT Judgment on year of taxability in case of JDA

ITO & Anr. Vs Shafiq Mohammed Shah & Anr. (ITAT Chennai)

These cross appeals by the Revenue and by the assessee are directed against the order of the Commissioner (Appeals)-4,Chenaai dated 8-2-2016....

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Deduction U/s. 54 allowable on sale consideration invested one year before sale of property

Devichand Kanthilal Shah Vs ITO (ITAT Chennai)Devichand Kanthilal Shah Vs ITO (ITAT Chennai); IT Appeal No. 3353 (Mds.) of 2016; 31/05/2017; 2013-14

In this case, the investment was admittedly made one year before the date of sale of property. In view of language employed by Parliament in section 54 of the Act, it is not the requirement that the sale consideration has to be invested in purchase of property....

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Penalty U/s. 271(1)(c) leviable on Income disclosed in return filed pursuant to notice U/s. 153A without proper explanation

Asst. CIT Vs. S & P Foundation (P) Ltd. (ITAT Chennai)

Where no return was filed prior to the date of search and a return had been filed only after the issue of notice under section 153A and in respect of income offered by assessee no proper explanation was provided regarding nature and source of income, AO was justified in initiation of penalty proceedings under section 271(1)(c)....

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Section 61: In case of revocable trust, its income needs to be taxed in hands of beneficiaries

Tamil Nadu Urban Development Fund Vs. ITO (ITAT Chennai)

These appeals are filed by the assessee against an order dated 30-3-2016 of the Commissioner (Appeals)-2, Chennai, in I.T.A. No. 31/CIT(A)-2/2013-14 for the assessment year 2008-09 and the order dated 30-3-2016 of the Commissioner (Appeals)-2, Chennai, in I.T.A. No. 174/CIT(A)-2/2013-14 for the assessment year 2009-10....

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