ITAT Chennai held that transaction of purchase of own shares by the appellant company is distribution of accumulated profits within the meaning of section 2(22) of the Income Tax Act, 1961. Accordingly, it is treated as dividend u/s. 2(22)(a)/2(22)(d) read with section 115-O of the Act.
ITAT Chennai held that Once, nature of expenditure and source is explained, then the question of making additions towards refund money as unexplained expenditure u/s. 69C of the Income Tax Act does not arise.
ITAT Chennai held that acquiring jurisdiction u/s 153C of the Income Tax Act without fulfilling the requirement of satisfaction note in case of searched person is unsustainable and liable to be quashed.
Analysis of ITAT Chennai’s decision in Smt. Saraniyaa Karthick vs. ITO regarding the estimation of addition on account of cash deposits during the demonetization period.
ITAT Chennai held that addition based merely on presumptions and assumptions and without allowing cross-examination is unsustainable in law and liable to be set aside.
Explore the ITAT Chennai order in Srimathi Laxmi Charities vs. ACIT, focusing on non-corpus donations to charitable trusts and the deletion of additions.
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.
