ITAT Chennai has set aside an ex-parte tax order for Benit & Co. – Electronics Pvt. Ltd., citing notices sent to a spam folder. The case is remanded for a fresh hearing, upholding natural justice.
ITAT Chennai remands Murugan Doraisamy’s case, allowing re-evaluation of Section 54F deduction despite a delay in Capital Gains Account deposit.
ITAT Chennai held that reopening of assessment u/s. 148 of the Income Tax Act on mere change of opinion without satisfying necessary ingredients for initiating reassessment is invalid and liable to be quashed. Accordingly, reassessment set aside.
ITAT Chennai held that passing of rectification order under section 154 of the Income Tax Act held to be not sustainable since reasonable opportunity of being heard was not granted specifically when rectification resulted into enhancement of an assessment.
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.
