Chennai ITAT deleted a Rs.12.36 lakh cash deposit addition under Section 69A for a retired government employee, acknowledging retirement benefits and customary household savings as sufficient sources.
Jewellers Get ITAT Relief: Inventory Software Unaccounted Income. ITAT Chennai restricts profit on unaccounted sales to 2.5% for Mohanlal Jewellers; deletes additions on Ghat, MC Khata, Byaj, and Vatav. Corroboration is key.
Chennai ITAT set aside the assessment for exceeding the limited scrutiny scope and disallowing 80P without a speaking order or SCN. Remanded the case for fresh, compliant adjudication.
Chennai ITAT rules Dividend Distribution Tax (DDT) is a company tax and not covered by DTAA, rejecting the refund claim. Separately, it capped the TDS disallowance at 30% under Section 40(a)(ia).
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.
