ITAT Chennai rules that an addition under Section 69 must be based on corroborated evidence, not just third-party documents or a retracted statement.
ITAT Chennai held that passing of ex-parte order by CIT(A) due to non-compliance of assessee without going into merits is not justifiable. CIT(A) is bound to decide the appeal on merits even in the absence of assessee. Accordingly, matter restored back.
ITAT Chennai held that assessments under section 153C of the Income Tax Act stands vitiated in law since there is complete absence of proper and independent satisfaction as required u/s. 153C. Accordingly, appeal allowed.
The Income Tax Appellate Tribunal (ITAT) Chennai has granted S.S.S. Export another chance to substantiate cash deposits under Section 69A, remanding the appeal to the CIT(A).
The ITAT Chennai ruled that a belated filing of Form 67 does not deny foreign tax credit (FTC). The Tribunal held the filing requirement to be directory, not mandatory.
ITAT Chennai grants Foreign Tax Credit to Lakshmi Sundararajan, ruling that the delayed filing of Form 67 is not a mandatory reason for disallowance.
ITAT Chennai held that deduction under section 80P(2)(a)(i) of the Income Tax Act is admissible to Regional Rural Banks. Accordingly, appeal of revenue dismissed and order of CIT(A) upheld.
ITAT Chennai rules that the buyer’s intention is irrelevant when classifying land. The court upholds the agricultural nature of land based on revenue records, not the buyer’s plans.
ITAT Chennai sets aside a best judgment assessment for a charitable trust, ordering a fresh hearing after noting prior Section 11 exemption and appellate procedural issues.
The ITAT Chennai has quashed a reassessment against Ambattur Constructions, ruling that a mere audit objection without fresh material is not a valid basis for reopening a completed assessment.
