ITAT Chennai dismissed the Revenue’s appeal in the Madras Cricket Club case, citing a CBDT circular due to the tax effect being below the threshold of Rs. 60 lakh.
The present appeal is preferred by the revenue. The only issue in this appeal of the Revenue is against the order of CIT(A) deleting addition made by the AO towards unexplained expenditure u/s.69C of the Act in respect of trade payable settled outside books of accounts.
ITAT Chennai remands G. Sekar’s case to CIT(A) for procedural review, highlighting deficiencies in prior assessment order. Fresh adjudication directed.
ITAT allows concessional tax rate under Section 115BAA to Chola Business Services, citing timely filing of Form 10IC and acknowledgment by CPC.
ITAT allows ASAN Memorial Association’s claim for statutory deduction under Section 11 despite filing errors in the Income Tax Return for AY 2016-17 and 2017-18.
ITAT Chennai remands the case on bogus purchases of Rs.92.43 lakhs to the AO for re-adjudication, allowing new evidence and addressing 80-IA deduction issue.
ITAT Chennai held that corrigendum issued by AO to rectify the mistake made while issuing original assessment order is legal and valid. Accordingly, matter remanded back to CIT(A) for adjudication on merits.
ITAT Chennai held that an AO is not permitted to take different stand on the same issue and same set of facts over different years. Thus, exemption u/s. 11 granted in spite of the fact that return was filed using ITR-6.
ITAT Chennai held that action of AO based on jurisdictional High Court decision as prevalent on the specified time, which was later on reversed by the Supreme Court, cannot be held to be erroneous and prejudicial to the interest of revenue.
ITAT Chennai held that the condonation of delay should not be dismissed for the reason that the appeal filed belatedly is not accompanied by condonation petition. Thus, order set aside and matter remanded back.
