Granting an interim relief to Tata Education and Development Trust, the Income Tax Appellate Tribunal (ITAT), Mumbai bench has referred the issue whether a stay can be granted by it without the taxpayer having to...
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the Maharashtra State Board Technical Education comes within the meaning of “State” under Article 289 of the Constitution of India. For...
A division bench of the Income Tax Appellate Tribunal (ITAT), led by the Tribunal’s President Justice P.P. Bhatt, has, through web-based video conferencing platform, heard and disposed of an urgent stay petition today. This is...
The Mumbai Bench of Income Tax Appellate Tribunal in the case of Sofina S.A. v ACIT held that unilateral amendment brought via ‘Explanation 5’ to Sec. 9(1)(i) of the I.T. Act cannot be read into...
The Income Tax Appellate Tribunal (ITAT), Mumbai held that the payment made by Volkswagen (Indian Company) to a Foreign Celebrity for appearance outside India is taxable. In the case of Volkswagen Finance Pvt Ltd. vs....
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the provisions of deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961 would not attract in case of reimbursement...
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), in an assessee-friendly ruling, held that if there exist two methods for tax payment, the assessee can opt the method which would result in the...
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the penalty under section 271B of the Income Tax Act, 1961 is not leviable if there are bona fide reasons on the part of...
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) recently held that the department cannot make addition merely on the basis of the statement made by the Director of the Company during the search...
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the reimbursement of the amount of property tax by the licensee to the landlord under the contract would be eligible for deduction...
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the reimbursement received by the assessee-Company on account of equipment Lost in Hole is in the nature of capital receipt which should...
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the rent received from son and daughter of the assessee could not be treated as a tax evasion tool if...
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has recently ruled that the addition in respect of Bogus purchase can be made only to the extent of the lower gross profit declared by the assessee...
The Income Tax Appellate Tribunal (ITAT) in Mumbai held that unabsorbed depreciation pertaining to assessing year AY 1997-98 to AY 2001-02 can be carried forward and set off in the later years. The assessee company...
The ITAT Mumbai held that interest received by the property developer, on temporary deposits of surplus money out of advances received by from intending purchases was business incomes and not income from other sources. The...
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) in the case of ITO v Prabhakar Raghavendra Rao held that non-compete fee money received independently by the assessee pursuant to an independent agreement, which was...
The Income Tax Appellate Tribunal ( ITAT), Mumbai ruled that when an assessee is a representative assessee of a tax transparent entity, it is the residential status of beneficiaries or constituents of tax transparent entities...
The Income Tax Appellate Tribunal (ITAT) in Mumbai has ruled that, Disallowance Of Rental Expenses Merely As Per the Leave and License Agreement Cannot Be Sustained. The appeal has been filed by the assessee before...
The Mumbai Bench of the Income Tax Appellate Tribunal in the case of ACIT v M/s Crompton Greaves Ltd. held that deduction of Scientific Research Expenditure disallowed without application of mind was allowed. With respect...
The Mumbai Bench of the Income Tax Appellate Tribunal in the case of Adi D Vachha v. ITO held that period of holding the asset has to be computed not from the date when MoU...
The Income Tax Appellate Tribunal (ITAT), Mumbai, held that the differences in the accounting policy followed by the taxpayer and its clients, who have deducted TDS, could explain the TDS Return differential. The Tribunal consisting...
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