ITAT Mumbai Judgments, Orders & News | Income Tax Appellate Tribunal

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ITAT Mumbai

Explore the latest ITAT Mumbai judgments, orders, and appellate decisions on direct tax matters from the Mumbai bench of the Income Tax Appellate Tribunal

Assessee Entitled to TDS Credit on Salary Income Even if Not Fully Reflected in Form 26AS: ITAT allows Claim based on Form 16 [Read Order]

Mansi Yadav

In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Bench at Mumbai, directed the Assessing Officer (AO) to grant full Tax Deducted at...

Wrong Tax Advice Not a ‘Sufficient Cause’ for 1,370-Day Delay: ITAT Says Assessee Cannot Shift...

Seized Excel Sheet Not Prepared by Taxpayer, Not Credible: ITAT Deletes ₹35 Lakh Unexplained...

Cash Found in Locker During Search belongs to Entire Family, Not Solely belongs to Taxpayer: ITAT...

Gold Jewellery Belongs to Wife and Mother and within Permissible Limits Set by CBDT: ITAT Deletes...

Assessee’s POCM Accounting Complies with ICAI Guidance Note for Real Estate Projects: ITAT Deletes ₹47.26 Crore Addition [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that revenue recognition under the Percentage of Completion Method (POCM) must adhere to the ICAI Guidance Note on Real...

Licence to use Software Not an Enduring Benefit: ITAT Treats Software Licence Fees as Revenue Expenditure in DSP Merrill Lynch Case [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Mumbai has held that software licence fees paid for the right to use MS Office constitute revenue expenditure and not a capital outlay, in a decision...

ITC under VAT cannot be Considered as Income Unless Claimed as Expenditure in P&L Account: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the deletion of the VAT ( Value Added Tax ) input tax credit addition of ₹96.21 lakh, ruling that it does not constitute income...

Estimated Profit Addition Not a Ground for Penalty: ITAT Deletes ₹42.68 Lakh Levy u/s 271(1)(c) [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) in a recent case has deleted ₹42.68 Lakh under section 271(1)(c) as the mere estimation of profit is not a ground for penalty. The...

Joint Purchase with Son-in-Law Does Not Bar Full Deduction u/s 54: ITAT Allows ₹3.67 Cr Exemption [Read Order]

In a dispute over the quantum of deduction under Section 54 of the Income Tax Act, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue’s appeal challenging the relief ...

Overseas Advisory Services Rendered from India: ITAT Restores Deduction u/s 80-O, Partly allows Appeal of DSP Merrill Lynch

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that professional and technical advisory services rendered by DSP Merrill Lynch Ltd from India to foreign clients in connection ...

Revenue Recognition on Club Membership Fees Must Match Service Period: ITAT in Sterling Holiday's Case [Read Order]

The Income Tax Appellate Tribunal (ITAT) Mumbai bench has upheld the principle that revenue from vacation ownership membership fees should be recognised in alignment with the period over which ...