Follow Us :

ITAT Chennai

No Sales Suppression Addition Solely Based on Abstract Textile Data

November 30, 2023 210 Views 0 comment Print

Explore the ITAT Chennai ruling on DCIT Vs Arumuga Cottspin Pvt. Ltd. for AY 2015-16. Analysis of interest disallowance, sales suppression, and unexplained cash credits

ITAT upholds additions which were based on sworn statements & reconciliation statements 

November 29, 2023 396 Views 0 comment Print

Explore the ITAT Chennai’s order in the case of Tulsian Refinery Pvt. Limited vs. DCIT for AY 2016-17 & 2017-18. Discover how the deletion of additions related to bogus interest expenditure was determined through sworn statements and reconciliation statements, and the impact of Hon’ble ITSC’s findings on KRPL. Read the full text of the order and gain insights into the assessment and appellate proceedings.

ITAT Directs Re-adjudication for Belated Return Without Form No.10B

November 26, 2023 2394 Views 0 comment Print

Explore the ITO vs. Papathiyammal Pitchai Educational Trust case at ITAT Chennai, where a dispute over the denial of Section 11 deduction unfolds for AY 2020-21.

ITAT Upholds disallowance of registration fees/ stamp duty for non-submission of evidence

November 26, 2023 285 Views 0 comment Print

ITAT Chennai upholds disallowance of registration fees and stamp duty for non-submission of evidence in case of Padmanabhan Mohan vs ITO.

Addition u/s 69B merely based on statement without corroborative evidence unsustainable

November 23, 2023 1098 Views 0 comment Print

ITAT Chennai held that addition towards unexplained investment u/s. 69B of the Income Tax Act unsustainable as based merely on the basis of statement of Director of the Vendor Company without any additional corroborative evidence.

Transfer Completes When Owner’s Rights Are Extinguished in Property

November 22, 2023 4287 Views 0 comment Print

Explore the ITAT Chennai order on Rajamanikam Meerabai Vs ITO. Detailed analysis of the capital gain dispute, assessment details, and legal arguments. Verdict insights.

No Section 194I TDS on rental payments below threshold limit

November 21, 2023 13371 Views 2 comments Print

Explore the ITAT Chennai order in ATC (Assam) Pvt. Ltd. vs. ITO-TDS for AY 2016-17. Key issues include TDS on rental payments, interest imposition, and disallowance u/s 40(a)(ia).

Addition u/s. 2(22)(e) as deemed dividend unsustainable as debit balance was only an inadvertent error

November 20, 2023 453 Views 0 comment Print

ITAT Chennai held that addition u/s. 2(22)(e) towards amount received by shareholder company treating debit balance as deemed dividend unsustainable as debit balance was only because of an inadvertent error and the same was squared off within short period.

Debatable issue cannot be rectified u/s. 154 of the Income Tax Act

November 17, 2023 921 Views 0 comment Print

ITAT Chennai held that only the mistake apparent from record which can be rectified but where two views are possible or there is a debate available, it cannot be rectified u/s.154 of the Income Tax Act.

Exemption u/s. 11 not deniable as no violation of proviso to provision of section 2(15)

November 17, 2023 459 Views 0 comment Print

ITAT Chennai held that revision order u/s. 263 unjustified and liable to be quashed as no findings which proves that there is a violation of the proviso to provision of section 2(15) of the Income Tax Act, 1961. Accordingly, exemption u/s. 11 rightly claimed.

Search Post by Date
March 2024
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031