ITAT Chennai allowed Lotus Footwear’s 100% SEZ deduction u/s 10AA for Unit-2, ruling it was a new undertaking established with fresh capital and not a splitting of the existing unit
Chennai ITAT rules that a charitable trust’s 5year 80G status can’t be denied due to a technical form selection error. Directs CIT(E) to grant recognition for AY 2022-23 to 2026-27
The ITAT Chennai, in the case of T. Radhakrishnan Vs ITO, ruled a ₹8 lakh cash deposit was from the sale of casuarina trees, not unexplained income, and deleted the tax addition.
Chennai’s ITAT rules that interest paid on a loan by a charitable trust is a valid ‘application of income,’ setting aside a tax disallowance of over Rs. 10 lakh.
Chennai ITAT rules in favor of a taxpayer, deleting a ₹2.26 lakh bonus disallowance after a new CA certificate confirmed an error in the original audit report.
ITAT Chennai admitted fresh documents including confirmations and bank statements for unsecured loans and advances, remanding the matter to AO for de novo assessment to ensure natural justice.
The ITAT Chennai ruled that an Indian employee’s salary for services rendered in the US is not taxable in India, upholding the India-US DTAA and clarifying that the place of service, not receipt, determines taxability.
ITAT Chennai held that reassessment notice under section 148 of the Income Tax Act without mandatory Document Identification Number [DIN] is invalid, non-est and hence liable to be quashed. Accordingly, assessment order thereon also collapses.
ITAT Chennai ruled that a reassessment initiated by a Jurisdictional Assessing Officer after March 29, 2022, was invalid, making the subsequent revision order by the PCIT equally void.
ITAT Chennai quashed a reassessment notice, ruling that an Assessing Officer cannot reopen a case after four years based on a review of documents already on file without new, tangible material.
