Read the full text of the ITAT Chennai order in ACIT vs. Prakash Ferrous Industries Pvt. Ltd. where the assessment order is rejected due to oversight and typographical error under section 143(3).
ITAT Chennai rules in favor of charities, allowing Form 10A for 12AB registration after initial rejection. Detailed analysis on the verdict inside.
ITAT Chennai dismisses Adithya Ferro Alloys Pvt. Limited’s appeals due to inordinate delay in filing TDS returns appeals, emphasizing timely legal action.
Chennai ITAT finds revisionary authority’s exercise of jurisdiction under section 263 invalid when a larger issue is pending before CIT(A), upholding legal precedents.
Read the detailed analysis of the ITAT Chennai order in the case of ST Engineering Electronics Ltd. vs ACIT regarding taxable contract income, addressing issues of revenue recognition and accounting standards.
Explore the ITAT Chennai order in Rangasamy Rajaram Vs ACIT case, where revision proceedings were upheld, impacting capital gains assessment on property sale.
Explore ITAT Chennai’s ruling in Smt. Chandrasekaran Valarmathi vs. ITO case. Section 56(2)(vii)(b)(ii) of the Income Tax Act won’t apply when property is purchased for business use of a partnership firm.
ITAT Chennai rules in favor of Mahasakthi Mills Pvt. Ltd., stating no cash credit addition when the assessee proves the genuineness of business transactions. Full order analysis.
Explore the TVS Srichakra Limited vs. DCIT case at ITAT Chennai, where failure to file Form 10CCB results in disallowance of deduction under Section 80IC. Read the detailed analysis and conclusion.
The burden lies on the assessee to explain each day of the delay, and the tribunal underscored that the appellant did not substantiate her claims adequately. The reasons for the delay were deemed not bona fide and reasonable, leading to the rejection of the appeal for condonation of delay.
