Chennai ITAT rules that charitable trusts primarily offering medical relief are exempt from the 20% commercial receipt limit under Section 2(15) of the Income Tax Act.
Chennai ITAT sets aside CIT(E) order rejecting 80G renewal for Gyanodaya Bharat Trust, citing notices sent to spam and violation of natural justice.
ITAT Chennai ruled in Gokulakrishna’s favor, deleting capital gains tax on funds received from a profit-sharing realignment during an LLP’s reconstitution. The court determined that a reduction in profit share for existing partners upon new partner admission does not constitute a taxable transfer of capital assets.
Chennai ITAT allows taxpayer another chance to prove Rs. 18 lakh cost of improvement claim, setting aside ex-parte disallowance by tax authorities.
Chennai ITAT remands a case involving Rs 6.16 crore in unexplained cash deposits by a cooperative society, allowing a fresh adjudication after non-compliance, with a cost of Rs 5,000.
Chennai ITAT grants 80G approval to Matha Medical Centre Trust, affirming that providing affordable medical services in rural areas is a charitable activity, not commercial.
ITAT Chennai rules Section 6 of the Income Tax Act prevails over a Tax Residency Certificate (TRC) for determining Indian residency. Global income taxable if an individual meets the specified days in India, irrespective of TRC.
The ITAT Chennai has remanded the case of Dr. Anbu Selvan vs. ITO, involving Rs. 50.5 lakh in unexplained money, back to the Assessing Officer. The Tribunal cited the AO’s failure to specify transaction details, allowing for fresh consideration.
The ITAT Chennai has remanded a case concerning Section 80P(2) deduction for co-operative bank interest. The Tribunal reversed contradictory findings and directed verification of banking licenses for eligibility.
ITAT Chennai remands ₹23.08 lakh cash deposit case, ruling that non-mention of Rule 46A does not justify rejecting additional evidence. Fresh adjudication ordered.
