ITAT Chennai invalidates a tax reassessment notice issued by a local officer, affirming the mandatory nature of the faceless tax regime as per judicial precedents.
The ITAT Chennai has ruled that the tax addition on a property’s stamp duty value difference must be shared equally among all joint owners.
ITAT Chennai ruled that a taxpayer isn’t obligated to prove ‘source of source’ for funds, deleting an addition on a property investment.
DCIT Vs K.Rethinam (ITAT Chennai) Loose sheets not corroborated; Partner’s Remuneration Beyond 40(b) not taxable again u/s 28(v); Alleged cash property investments fail due to retraction & lack of evidence: ITAT Chennai A search under Section 132 was conducted on 08.12.2016 in the SRS Group (including SRS Mining, a partnership firm) and on partners including […]
ITAT Chennai remands a jeweler’s case, stating that additions for unaccounted sales are not sustainable without proper stock adjustments. The margins were considered unrealistic.
ITAT Chennai has ruled that training in classical dance constitutes education under Section 2(15) of Income Tax Act 1961. This decision came after CIT (Exemptions) rejected Kalasadhanalaya 80G renewal arguing that dance training was not a charitable purpose.
ITAT Chennai clarified that structured Bharatanatyam training preserves cultural heritage and qualifies as education. Fees charged do not make it commercial. Denial of 80G approval set aside; matter remanded to CIT(E) for fresh decision.
The ITAT Pune has remanded the M.B. Patil Constructions case for re-verification of the 80-IA deduction and deemed dividend, while upholding partial relief.
The ITAT Chennai ruled that a Section 8 company’s inadvertent error on a tax form couldn’t change its charitable nature, directing a reassessment for 12AB and 80G approvals.
The ITAT Pune set aside a reassessment case, ruling that the notice was invalid because it lacked the correct sanction from a Principal Chief Commissioner.
