Analysis of ITAT Chennai’s decision on taxing share premium: ACIT Vs Luncar Finance Pvt. Ltd. A focus on already taxed income in the hands of Investor Company
ITAT Chennai restores the matter of Salma Ahmed’s capital gain deduction under section 54F to CIT(E) due to inadequate details provision by the assessee.
Analysis of the ITAT Chennai’s ruling in Micky Fireworks Vs ACIT, focusing on the debate around unexplained cash under Section 68 during the demonetization period.
ITAT Chennai rules in favor of Mookambika Impex, stating that excess stock is due to regular business activities. Dive into the detailed analysis.
ITAT Chennai’s landmark decision on the non-issuance of notice to Arunachalam, underlining the importance of natural justice in tax proceedings.
ITAT Chennai reopens Carborundum Universal’s case with Deputy Commissioner over income tax deletion due to evidence gaps. Full analysis inside.
ITAT Chennai ruling in Aruljothi Exports vs. ACIT case establishes that Income Tax Dept cannot scrutinize sales tax returns accepted by Commercial Tax Dept. Analysis and conclusion included.
ITAT Chennai held that the incidence of tax for joint development agreement (JDA) is different and incidence of tax for subsequent sale of flats is different.
ITAT Chennai rules no fresh assessment by CIT if AO chooses not to add on Income Tax. Deepika Subramanian’s appeal upheld against PCIT’s decision.
ITAT Chennai held that as capital profit are to be excluded while computing book profit u/s 115JB, similarly, the adjustment of loss could also not be allowed u/s 115JB. Hence, loss on sale of investment could not be reduced from Book Profits u/s 115JB of the Income Tax Act.
