ITAT Chennai deletes Section 271B penalty for audit delay due to partner’s health issues in Balaji Logistics case. Learn about the key details and implications.
ITAT Chennai held that section 23 of the Central Act provides for exemption of Income-tax to the Advocates Welfare Fund of the State. Accordingly, exemption granted and appeal of revenue dismissed.
ITAT Chennai confirmed penalty imposed under section 271B of the Income Tax Act for non-furnishing audit report, in absence of any reasonable or sufficient cause for not complying with legal provisions of section 44AB of the Income Tax Act.
ITAT Chennai held that addition towards on-money sale amount based on the third-party statement without any cogent positive evidence to sustain addition is unsustainable in law.
ITAT Chennai restored the matter back to the file of AO for re-adjudication as additional ground raised by the assessee in appeal were not taken up before lower authorities.
Egberts India Pvt Ltd wins against ITO as ITAT Chennai allows deduction of consultancy charges paid to resident director. Full text of ITAT Chennai order.
Read the detailed analysis of Renault Nissan Automotive India Pvt Ltd vs DCIT case where ITAT Chennai grants relief on bonus disallowance under section 43B of Income Tax Act.
Detailed analysis of DCIT vs Tangi Facility Solutions Pvt Ltd case by ITAT Chennai regarding taxation of bonus shares under Income Tax Act. Understand ITAT’s ruling and implications.
Read ITAT Chennai’s decision on deductibility of interest paid on borrowings for property acquisition from sale consideration. Full text order included.
Read the detailed analysis of ITAT Chennai’s decision to grant full S.54F deduction for property purchase in wife’s name out of a bank loan. Understand the legal implications and arguments presented.
