ITAT Chennai held that in case the assessee claims depreciation on the new asset, then, it cannot claim investment allowance under Section 32AC of the Income Tax Act.
Analyzing ITAT Chennai’s decision on the tax rate application in Dinroze Estate Vs ITO case. The trust with known beneficiaries should be taxed at individual rates.
An in-depth analysis of the Ramesh Kumar AE Vs ITO (ITAT Chennai) case. Discover why the ITAT Chennai ruled that salary earned in a foreign jurisdiction is not taxable in India.
Exploring the key takeaways from the ITAT Chennai ruling in Duraisamy Parameswaran Vs ACIT, focusing on how agricultural income is treated under Section 68 of the Income Tax Act.
ITAT Chennai held that assessment order passed without examining the seized documents is prejudicial to the interest of revenue and hence the revisionary order passed under section 263 of the Income Tax Act duly sustainable.
Analysis of ITAT Chennai decision on V.S.J. Marketing Pvt. Vs DCIT. ITAT upholds penalty for failure to furnish Return of Income as concealment of income.
A detailed analysis of the ITAT Chennai’s ruling on Trimex Sands Pvt. Vs PCIT. The court allows income tax deductions, recognizing mineral extraction from beach sand as manufacturing u/s 2(29BA) of the Income Tax Act.
ITAT Chennai in Estate of Late Smt. Jayanthi Krishnamurthy Vs ACIT held that no addition could be made under section 153A in absence of incriminating evidence resulting from a search, especially if assessment is unabated.
ITAT Chennai held that actual loss arisen on account of cancellation of the forward contracts entered into with the banks to safeguard realization of export proceeds is allowable as business loss.
Analysis of ITAT Chennais decision in the case of DCIT Vs Kannan Rajendra Babu, directing a 25% profit estimation on income from sale of milk products during the 2016 demonetization period.
