In Mani Sundaram Vs ITO (ITAT Chennai), cash loans from relatives, later treated as gifts, didn’t incur penalty under section 271D of the Income Tax Act.
Chennai ITAT rules PCIT cannot expand limited scrutiny via Sec 263 in Cholan Paper vs PCIT case. Detailed analysis & conclusion. Read full text here.
ITAT Chennai held that transfer pricing adjustment towards brand development services unjustified in absence of contract amongst the assessee and its associated enterprises. Accordingly, AO directed to delete addition made towards brand fee adjustment.
Read the ITAT Chennai ruling in Padam J. Challani Vs ACIT case, directing AO to allow telescoping benefit and delete additions of excess gold and diamond jewellery. Full analysis and implications.
Chennai ITAT’s ruling in Bharat Engineering Construction Co. Pvt. Ltd. vs. ACIT clarifies eligibility for Sec 80IA deduction based on the nature of work executed. Detailed analysis provided.
Chennai’s ITAT supports CIT(A)’s deletion of cash deposit additions under Section 69A of the Income Tax Act, highlighting evidence-based judgment.
ITAT backs a 25% concessional tax rate for companies with turnovers under ₹250 crores, impacting Shriram Properties Ltd.’s case against Asst. Director of Income Tax.
ITAT Chennai’s ruling on government subsidies as capital receipts in DCIT Vs Saint-Gobain India Pvt. Ltd., impacting investment promotion.
Adithya Ferro Alloys Pvt Limited Vs ITO (ITAT Chennai) Adithya Ferro Alloys Pvt Limited (the assessee) filed appeals for various quarters of Assessment Years (AY) 2013-14 & 2014-15 against fees levied under section 234E by the TDS, CPC for late filing of quarterly TDS returns. The appeals were delayed by more than 3000 days, leading […]
Once an appeal is lodged with CIT(A), the PCIT’s authority to revise assessment under Section 263 is circumscribed – Kathiravan Ananthalakshmi Vs ACIT (ITAT Chennai)
