ITAT Chennai

  • Income Tax

House Property Rent or Business Income-Activity not ownership is decisive.

House Property Rent or Business Income-Activity not ownership is decisive. ITAT Chennai, following Supreme Court Judgment upheld bifurcation of rent…

8 years ago
  • Income Tax

Consent of assessee cannot give AO right to make additions. the consent of the assesse/authorised representative cannot be a reason to sustain the addition.

Consent of assessee cannot give AO right to make additions. the consent of the assesse/authorised representative cannot be a reason to…

8 years ago
  • Income Tax

No difference between gift and settlement for capital gain. Holding period of previous owner (settlor) transferring capital asset u/s 2(42A) to be counted

No difference between gift and settlement for capital gains purposes. In a recent judgment, ITAT, Chennai has held that  there…

8 years ago
  • Income Tax

Funds shortage due to project expansion was sufficient cause not to impose penalty u/s 221(1) for self assessment tax non payment before filing ITR

In a recent judgment, ITAT Chennai has held that paucity of funds due to project expansion was a sufficient case not…

8 years ago
  • Income Tax

Section 68 not applicable to liabilities representing old opening balances. Assessee’s Consent / acceptance do not give jurisdiction/right to make addition

In a recent judgment, ITAT Chennai has stated that consent/acceptance given by assessee could not give jurisdiction and a right to the assessing…

8 years ago
  • Income Tax

When bye-laws was amended, society was entitled to registration u/s 12AA from the date of establishment

In a recent judgment, ITAT Chennai has held that when the amendment was made in the . of the society it…

8 years ago
  • Income Tax

House rent addition on notional basis u/s 23 for unrealised rent upheld when property was not vacant

In a recent judgment Chennai ITAT has upheld the addition made for notional house rent under the provisions of section…

8 years ago
  • Income Tax

Input VAT credit reversal deduction on payment basis u/s 43B irrespective of separate VAT account

Input VAT credit reversal deduction to be allowed on payment basis u/s 43B irrespective of separate VAT account INCOME TAX…

8 years ago