Chennai ITAT ruled that incorrect classification in ITR cannot deny genuine deductions. Learn about the National Contracting Company case vs DCIT and its implications.
Discover the ITAT Chennai verdict on Santhilal Jain Vijay Kumar Vs ITO, addressing taxation on excess stock and unexplained marriage expenses. Read the full case analysis.
ITAT Chennai rules in favor of Revathi Modern Rice Mill, determining that excess stock is assessable as business income, not unexplained investment under Sec. 69B.
CBDT extends Form 10AB filing to 30.06.2024. ITAT Chennai rules in favor of Earth Trust, setting aside CIT(E) order canceling registration u/s 12AB.
ITAT Chennai’s order regarding the transfer from current to deposit account as non-income, and deletion of addition. Full text of the order provided.
Read the detailed analysis of the ITAT Chennai order in the case of D. Ramagopal Vs ACIT, where addition was upheld due to failure in proving the genuinity of income from agriculture activities.
ITAT Chennai upholds addition on LTCG arising from purchase and sale of shares due to failure to produce documents. Read the full analysis of the case.
ITAT Chennai rules that recoveries of farmers’ advances reflected in cash books are not unexplained cash credits under Section 68 of the Income Tax Act.
Learn why the absence of a money lending license doesn’t disallow bad debts. Explore the case of Moolchand Kiran Kumar Jain Vs DCIT (ITAT Chennai).
ITAT Chennai analyzes the applicability of Section 115BBE to seized cash and gold coins in the case of Uthangarai Sri Vidya Mandir Educational Trust. The trust argued that Section 115BBE applies only if no explanation is provided for the income.
