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ITAT Mumbai

ITAT Allows Goregaon Education Society’s Exemption Claim u/s 11 Despite Delay in Filing Forms 9A and 10 obeying CBDT Circular [Read Order]

Thahani Fathima T V

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) recently allowed an appeal filed by Goregaon Education Society while observing that the...

Dividend Paid to IFC Exempt from Dividend Distribution Tax Under Overriding Immunity of IFC Act,...

Deferred Sales Tax Waiver is Taxable as Business Income Under Section 28(iv) of Income Tax Act: ITAT...

ITAT Allows KBS Creations’ Appeal, Rules No Transfer Pricing Adjustment Without Proved ‘Arrangement’...

Only 3 Out of 26 Gold Transactions Found Bogus: ITAT Orders Re-computation Based on Gross Profit...

‘May Impress a Math Student, Not Income Tax Proceedings’: ITAT Deletes AO’s ₹5.39 Cr Addition Based on Two Days’ Bills [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) in Mumbai has strongly condemned the estimation method used by the Income Tax Department, rejecting a ₹5.39 crore addition made by the Assessing Officer...

ITAT Allows Abu Dhabi Commercial Bank to Set Off PE Losses Against ECB Interest Income, Upholds 5% Concessional Tax Rate Under India-UAE Treaty [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) allowed Abu Dhabi Commercial Bank to set off losses of its Indian Permanent Establishment (PE) against interest income earned on External ...

S.80-IC Deduction Must Be Computed Solely on Eligible Unit’s Profit, ITAT Bars Set-Off of Non-Eligible Unit Losses [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) recently reaffirmed that deductions under section 80-IC of the Income Tax Act, 1961 must be computed solely on the profit of the...

ITAT reaffirms Principle of Consistency: Directs AO to Retain Long-Standing Expense Allocation Method for Sysmex India Pvt Ltd [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) in a recent ruling directed the AssessingOfficer (AO) to accept the sales-based allocation of common expenses for computing deduction under...

Gift of Property Share from Husband to Wife Eligible for Capital Gain Exemption, But Clubbing and Capital Gains Rules Apply: Rules ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that gift of property share from husband to wife is eligible for capital gain exemption under Section 54 of Income Tax Act,1961, but...

No Addition Can Be Made Solely on 26AS-Sales Mismatch Due to Double TDS Deduction by Client: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal( ITAT) held that no addition could be made solely on the basis of a mismatch between sales reported in the books and figures in Form 26AS,...

Unverified Third-Party Pen Drive Data Cannot Justify Income Tax Addition Without Confronting Taxpayer: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) set aside an addition made under Section 69A of the Income Tax Act, 1961, ruling that third-party data from a pen drive and statements...