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ITAT Chennai

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Aerial view of colorful high-rise buildings in Chennai, India, under a clear sky.
Posted inBlog

ITAT Chennai Directs Fresh Examination of Transfer Pricing Matters and Dismisses Revenue Appeal on Forex Loss

ITAT Chennai remands transfer pricing matters for fresh review while dismissing the Revenue appeal concerning foreign exchange losses, software depreciation, and secondment payments.
Posted by Prasenjit Bhowmik September 20, 2026
Detailed close-up image of a shopping receipt showing GST and total changes.
Posted inBlog

MEIS Scrip Sale Proceeds Are Capital Receipts and Not Taxable Rules ITAT Chennai

ITAT Chennai rules that MEIS scrip sale proceeds qualify as capital receipts and are non-taxable, while also classifying leasehold land construction costs as revenue expenditure.
Posted by Prasenjit Bhowmik September 20, 2026
Mobile electronic traffic sign with inscription Expect delays placed on road in city street in evening time
Posted inBlog

ITAT Chennai Rules 29-Day Form 10B Delay Does Not Bar Section 11 Exemption

ITAT Chennai holds that a 29-day delay in filing Form 10B does not deny Section 11 tax exemption if the audit report was available before intimation.
Posted by Prasenjit Bhowmik September 19, 2026
A stack of tax forms with a clock and yellow sticky note saying 'Tax time!' indicating urgency.
Posted inBlog

ITAT Chennai Rules Belated Form 10B Submission Valid for Section 11 Tax Exemption

Learn how ITAT Chennai ruled that a delayed Form 10B audit report submitted before CPC processing is sufficient to claim Section 11 income tax exemption.
Posted by Prasenjit Bhowmik September 19, 2026
Close-up of IRS Form 1040 with 'Tax Due' note and stationery on a desk.
Posted inBlog

ITAT Chennai Quashes Section 271D Penalty Issued Beyond Limitation Period

ITAT Chennai deletes a Rs 3 lakh penalty under section 271D, ruling that orders passed after the six-month limitation period are invalid.
Posted by Prasenjit Bhowmik September 14, 2026
A top view of euro banknotes, a miniature architectural model, and a key symbolizing property investment.
Posted inBlog

ITAT Chennai Remands Section 148 Reassessment After Retrospective Tax Amendment

ITAT Chennai restores a Section 148 reassessment appeal following the Finance Act 2026 retrospective amendment that invalidated the previous CIT(A) ruling.
Posted by Prasenjit Bhowmik September 14, 2026
ITAT Chennai Rules in Favor of Taxpayer on Section 36(1)(iii) Interest Disallowance
Posted inBlog

ITAT Chennai Rules in Favor of Taxpayer on Section 36(1)(iii) Interest Disallowance

In a recent ruling that provides significant relief to corporate taxpayers, the Chennai bench of the Income Tax Appellate Tribunal (ITAT) has deleted an interest disallowance previously levied under Section…
Posted by Prasenjit Bhowmik August 5, 2026
Section 263 Cannot Cure Wrong Penalty Provision in Assessment Order: ITAT Chennai
Posted inBlog

Section 263 Cannot Cure Wrong Penalty Provision in Assessment Order: ITAT Chennai

In a significant legal development, the Chennai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that a revision order under Section 263 of the Income Tax Act cannot…
Posted by Prasenjit Bhowmik August 5, 2026

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