In the case abovementioned ITAT have held that there is no need to purchase residential property in own name by any assesseee for the purpose of claim of capital gain u/s 54F.
ITAT Chennai remands appeal of Selvalakshmi Feeds & Farms to CIT(A) for reassessment, citing lack of proper adjudication. Learn key details of this 2024 case.
ITAT Chennai sets aside CIT(A)’s ex parte order for AY 2020-21 due to sufficient cause for delay and restores the appeal for fresh adjudication.
ITAT Chennai condones 64-day delay in Al-Ameen International Ltd.’s appeal due to the illness of their long-time auditor and restores the case for fresh adjudication.
ITAT Chennai directs a fresh hearing for Krishnan Gopikrishnan’s case on unexplained demonetization cash deposits due to notices sent to an inactive email ID.
Analysis of Mahadevan Vs ITO (ITAT Chennai). Appeal challenging NFAC’s ex-parte order. Case remanded for fresh adjudication with detailed hearing.
ITAT Chennai remands penalty case under Section 271B, allowing the assessee another opportunity despite negligence. Case restored for fresh adjudication.
ITAT Chennai sets aside an ex-parte order in Glenco Distilleries case due to technical glitches. Case restored for fresh adjudication with directions to CIT(A).
ITAT Chennai Held that the construction of a new residential house to its existing residence with separate stair-case, kitchen, new electrical connection, water connection, etc. qualifies for deduction u/s.54F of the Act. Accordingly, deduction u/s. 54F granted.
ITAT Chennai reduces penalty for Jayasakthi Knit Wear under Sec 271(1)(b) to ₹10,000 due to business losses and depression. Learn key details of the case ruling.
