Chennai ITAT remands Rs. 2.31 crore addition for cash deposits and S. 40(a) disallowance, directing AO to conduct fresh enquiry.
ITAT Chennai directs a fresh assessment for an illiterate taxpayer with high-value transactions who failed to file ITR, citing lack of awareness and imposing a Rs. 5,000 cost.
ITAT Chennai has remanded a case concerning a co-operative society’s denied Section 80P deduction, citing a pending condonation petition for delayed ITR filing and a jurisdictional High Court precedent.
Tribunal directs full TDS credit for K. Venkatesan (HUF) on Rs. 10.5 Cr agricultural land sale. Overturns CPC/CIT(A) denial, citing Section 194IA and Rule 37BA misapplication.
ITAT Chennai ruled that translation services are not “technical services” under Section 9(1)(vii), leading to the deletion of a disallowance under Section 40(a)(i) for non-deduction of TDS on payments to non-resident translators.
ITAT Chennai held that waiver of amount of loan, whether principal or interest component, cannot be brought to tax under section 41(1) of the Income Tax Act. Accordingly, appeal of assessee allowed and addition directed to be deleted.
ITAT Chennai held that liability to deduct Tax Deduction at Source [TDS] arise only on the amount of actual payment and not on the provision made. Accordingly, TDS liability reduced to that extent and appeal partly allowed.
ITAT Chennai rules agricultural land beyond urban limits is exempt from capital gains tax, irrespective of actual cultivation, citing Section 2(14).
Chennai Income Tax Appellate Tribunal clarifies that designated funds and life membership fees for charitable societies are capital receipts, not taxable income.
ITAT Chennai upholds disallowances for Devcare Solutions: Cash payments exceeding limit disallowed u/s 40A(3), technical fees disallowed for lack of proof.
