ITAT Chennai held that cash sales of liquor is the source of cash deposit during demonetization and accordingly, since the nature and source of investment fully explained by the assessee, addition u/s. 69 of 69A not justifiable.
Regarding disallowance under section 10AA, Tribunal found that services provided by appellant to foreign customers from the SEZ did qualify as exports, thus allowing deduction.
ITAT Chennai held that exemption under section 11 of the Income Tax Act is allowable inspite of certain errors while filing form 10B since the claim is supported by audited financials, revised audit report and revised computation.
ITAT Chennai restored the matter back to the file of AO since CIT(A) failed to consider the additional evidence which was sought by AO. Accordingly, matter restored back to the files of AO for fresh adjudication.
ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete evidence. Understand judicial precedents cited.
ITAT Chennai rules on Ashok Leyland’s tax appeal regarding R&D deductions under Section 35(2AB). The tribunal allows partial relief, citing legal precedents.
ITAT Chennai held that PCIT cannot term order passed by AO as erroneous and prejudicial to the interest of revenue merely for non-production of Form 3CL for claiming weighted deduction under section 35(2AB) of the Income Tax Act.
ITAT Chennai sets aside CIT(E)’s rejection of 80G registration for SKNNSM Society, citing inadequate time for response. Case sent for fresh adjudication.
ITAT Chennai dismisses Padmash Leathers & Exports Pvt. Ltd. appeal as infructuous after the assessee opts for Vivad-se-Vishwas Scheme 2024 to settle tax disputes.
ITAT Chennai rules CSR donations to PM Relief Fund qualify for 80G deduction, overturning AO’s decision. Read key judicial precedents and tax law insights.
