Explore the ITAT Chennai order in ATC (Assam) Pvt. Ltd. vs. ITO-TDS for AY 2016-17. Key issues include TDS on rental payments, interest imposition, and disallowance u/s 40(a)(ia).
ITAT Chennai held that addition u/s. 2(22)(e) towards amount received by shareholder company treating debit balance as deemed dividend unsustainable as debit balance was only because of an inadvertent error and the same was squared off within short period.
ITAT Chennai held that only the mistake apparent from record which can be rectified but where two views are possible or there is a debate available, it cannot be rectified u/s.154 of the Income Tax Act.
ITAT Chennai held that revision order u/s. 263 unjustified and liable to be quashed as no findings which proves that there is a violation of the proviso to provision of section 2(15) of the Income Tax Act, 1961. Accordingly, exemption u/s. 11 rightly claimed.
ITAT Chennai directs the AO to reduce the addition for unexplained cash deposits in Canara Bank by the assessee. Detailed analysis of the case and its implications.
Explore SAE India vs ITO tax dispute (ITAT Chennai) over Section 11 exemption, GPU classification, mutuality principles. Key issues, grounds, and legal analysis.
ITAT Chennai allows appeals, directs the assessee to deposit a nominal cost of Rs 5000 for non-appearance before lower authorities. Detailed analysis of the case.
ITAT Chennai upholds income tax addition due to failure in explaining the source of a significant cash deposit in a bank account. Learn more in this analysis.
Penalty under section 271FAA was deleted as the defects in the statement of the reportable account were rectified within the time limit provided under sub-section (4) of Section 285BA.
ITAT Chennai held that corpus donations received by the Trust is income of the Trust when the Trust is not entitled for the exemption under section 11 of the Income Tax Act.
