CBDT extends Form 10AB filing to 30.06.2024. ITAT Chennai rules in favor of Earth Trust, setting aside CIT(E) order canceling registration u/s 12AB.
ITAT Chennai’s order regarding the transfer from current to deposit account as non-income, and deletion of addition. Full text of the order provided.
Read the detailed analysis of the ITAT Chennai order in the case of D. Ramagopal Vs ACIT, where addition was upheld due to failure in proving the genuinity of income from agriculture activities.
ITAT Chennai upholds addition on LTCG arising from purchase and sale of shares due to failure to produce documents. Read the full analysis of the case.
ITAT Chennai rules that recoveries of farmers’ advances reflected in cash books are not unexplained cash credits under Section 68 of the Income Tax Act.
Learn why the absence of a money lending license doesn’t disallow bad debts. Explore the case of Moolchand Kiran Kumar Jain Vs DCIT (ITAT Chennai).
ITAT Chennai analyzes the applicability of Section 115BBE to seized cash and gold coins in the case of Uthangarai Sri Vidya Mandir Educational Trust. The trust argued that Section 115BBE applies only if no explanation is provided for the income.
In the case of Karur Vysya Bank Ltd. vs. DCIT, ITAT Chennai rejects AO’s disallowance of stale drafts, citing precedent and banking business nature.
ITAT Chennai deletes Rs. 16.8 lakhs addition, finding no evidence to prove properties sold by taxpayer were agricultural land in D. Ramagopal Vs ACIT case.
Learn about the Chennai ITAT ruling in Conferencecall Services India Pvt. Ltd. vs. DCIT, where a final assessment made after one month of DRP directions was declared time-barred.
