ITAT Chennai

Government incentive/Subsidy towards Investment Promotion is capital receipt

DCIT Vs Saint-Gobain India Pvt. Ltd. (ITAT Chennai)

ITAT Chennai's ruling on government subsidies as capital receipts in DCIT Vs Saint-Gobain India Pvt. Ltd., impacting investment promotion....

Delay of more than 3000 days in Appeal filing: ITAT Chennai dismisses appeal

Adithya Ferro Alloys Pvt Limited Vs ITO (ITAT Chennai)

Adithya Ferro Alloys Pvt Limited Vs ITO (ITAT Chennai) Adithya Ferro Alloys Pvt Limited (the assessee) filed appeals for various quarters of Assessment Years (AY) 2013-14 & 2014-15 against fees levied under section 234E by the TDS, CPC for late filing of quarterly TDS returns. The appeals were delayed by more than 3000 days, leading [...

PCIT’s exercise of Section 263 jurisdiction while issue is pending before CIT(A) is invalid

Kathiravan Ananthalakshmi Vs ACIT (ITAT Chennai)

Once an appeal is lodged with CIT(A), the PCIT's authority to revise assessment under Section 263 is circumscribed - Kathiravan Ananthalakshmi Vs ACIT (ITAT Chennai)...

ITAT deletes Section 69A and 69C addition due to insufficient evidence

ACIT Vs Prakash Ferrous Industries Private Limited (ITAT Chennai)

Read the full text of the ITAT Chennai order in ACIT vs. Prakash Ferrous Industries Pvt. Ltd. where the assessment order is rejected due to oversight and typographical error under section 143(3)....

Section 12AB Registration Rejection: ITAT allows filing of Form 10A

LTCL Palaniappa Charities Trust Vs CIT (ITAT Chennai)

ITAT Chennai rules in favor of charities, allowing Form 10A for 12AB registration after initial rejection. Detailed analysis on the verdict inside. ...

ITAT Chennai Dismisses Appeals for Late Filing Beyond 8 Years

Adithya Ferro Alloys Pvt. Limited Vs AO (ITAT Chennai)

ITAT Chennai dismisses Adithya Ferro Alloys Pvt. Limited's appeals due to inordinate delay in filing TDS returns appeals, emphasizing timely legal action. ...

Section 263 Jurisdiction cannot be exercised When Larger Issue Pending Before CIT(A)

Golden Vats Private Limited Vs ACIT (ITAT Chennai)

Chennai ITAT finds revisionary authority's exercise of jurisdiction under section 263 invalid when a larger issue is pending before CIT(A), upholding legal precedents....

Consistent Methodology and Adherence to Accounting Standards Render Additions Unsustainable

ST Engineering Electronics Ltd. Vs ACIT (ITAT Chennai)

Read the detailed analysis of the ITAT Chennai order in the case of ST Engineering Electronics Ltd. vs ACIT regarding taxable contract income, addressing issues of revenue recognition and accounting standards....

AO not examined cost of improvement on building – Section 263 Order Valid

Rangasamy Rajaram Vs ACIT (ITAT Chennai)

Explore the ITAT Chennai order in Rangasamy Rajaram Vs ACIT case, where revision proceedings were upheld, impacting capital gains assessment on property sale....

Section 56(2)(vii)(b)(ii) Inapplicable to Partnership Firm’s Business Property: ITAT Chennai

Smt. Chandrasekaran Valarmathi Vs ITO (ITAT Chennai)

Explore ITAT Chennai's ruling in Smt. Chandrasekaran Valarmathi vs. ITO case. Section 56(2)(vii)(b)(ii) of the Income Tax Act won't apply when property is purchased for business use of a partnership firm....

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February 2024