Courts: ITAT Chennai
Find latest ITAT Chennai judgments, orders and case laws on income tax covering assessments, deductions, transfer pricing, capital gains, TDS, reassessment and penalties.
ITAT deletes addition under section 50C as difference was less than 10%
ITAT upheld addition for Cash deposited during demonetization out of alleged tuition income
Exemption u/s 11 available as renting of auditorium is incidental to fulfilment of object of trust
ITAT directs AO to consider settlement of dispute subsequent to Asset Purchase Agreement
Adjustment of incorrect claim apparent from any information in return is permissible u/s 143(1)
Invocation of section 147 untenable in absence of new/ fresh material indicating escapement of income
Expense deducted from export turnover should be deducted from total turnover for computing deduction u/s 10A
Provision for leave encashment and gratuity is allowable in book profit computed u/s 115JB
Denial of deduction u/s 54 for mere technical breach is unjustified
Only net result of unaccounted purchases & sales is taxable
Section 271(1)(b) Penalty cannot be imposed if Assessment was Completed U/s. 143(3)
Debatable & contentious Issues cannot be Rectified under section 154
Imposition of penalty u/s 271(1)(c) on highly debatable issue is unsustainable
AO cannot travel beyond selected reasons for limited scrutiny
ITAT Chennai judgments and orders address a wide range of income-tax disputes involving individuals, businesses and corporate taxpayers. This TaxGuru page compiles ITAT Chennai case laws relating to assessments, deductions, exemptions, business income, capital gains, transfer pricing, international taxation, TDS, reassessment, unexplained income, penalties and procedural matters. Chartered Accountants, advocates, taxpayers and tax professionals can use the collection to research Tribunal precedents and follow developments in income-tax jurisprudence. The page includes recent as well as significant earlier ITAT Chennai decisions published on TaxGuru for convenient direct tax research.
