![AO Accepts Taxpayers ITR Without Reflecting Prior Adjustments Made u/s 143(1): ITAT Deletes Deferred Tax Adjustment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Mumbai-Income-Tax-ITAT-Deletes-AO-Accepts-Income-Tax-Appellate-Tribunal-Assessing-office-taxscan.jpg "AO Accepts Taxpayers ITR Without Reflecting Prior Adjustments Made u/s 143(1): ITAT Deletes Deferred Tax Adjustment [Read Order]")
AO Accepts Taxpayer's ITR Without Reflecting Prior Adjustments Made u/s 143(1): ITAT Deletes Deferred Tax Adjustment [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) deleted the deferred tax adjustment, stating that the Assessing officer (AO) accepted the...
![Chhagan Bhujbals Agricultural Income under Scanner: ITAT directs AO to Verify Sales Records [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Chhagan-Bhujbal-Agricultural-Income-Income-Tax-Appellate-Tribunal-Assessment-Officer-Sales-Records-Under-Scanner-taxscan.jpg "Chhagan Bhujbals Agricultural Income under Scanner: ITAT directs AO to Verify Sales Records [Read Order]")
![ITAT deletes Adjustment on Section 80P Deduction as Taxpayer Filed ITR within Due Date u/s 139(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Mumbai-ITR-filed-Income-Tax-Return-taxcan.jpeg "ITAT deletes Adjustment on Section 80P Deduction as Taxpayer Filed ITR within Due Date u/s 139(1) [Read Order]")
![Cash Deposit Made in Bank Account Stands Thoroughly and Properly Explained: ITAT Deletes Addition of Rs. 7.43 Crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-tax-appellate-tribunal-income-tax-act-income-tax-Tax-news-TAXSCAN.jpg "Cash Deposit Made in Bank Account Stands Thoroughly and Properly Explained: ITAT Deletes Addition of Rs. 7.43 Crore [Read Order]")
![Pure Charity Performance of Activity without Consideration is not Envisioned u/s 2(15) of Income Tax Act as GPU object: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Mumbai-Income-Tax-Charitable-activities-GPU-General-Public-Utility-TAXSCAN.jpg "Pure Charity Performance of Activity without Consideration is not Envisioned u/s 2(15) of Income Tax Act as GPU object: ITAT [Read Order]")
Non Response to Notice u/s 133(6) of Income Tax Act doesn't prove that entire Transaction is Bogus: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that no response to notice under Section 133(6) of Income Tax Act, 1961 that doesn't prove that entire transactions are bogus ...
![Non Response to Notice u/s 133(6) of Income Tax Act doesnt prove that entire Transaction is Bogus: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-Mumbai-Non-response-to-Income-Tax-Notice-Bogus-transactions-and-Income-Tax-ITAT-rulings-on-bogus-transactions-Taxscan.jpg "Non Response to Notice u/s 133(6) of Income Tax Act doesnt prove that entire Transaction is Bogus: ITAT [Read Order]")
ITAT directs to recompute ALP of international transactions carried out by ICICI Bank pertaining to adjustment towards back office support services [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, directed the re-computation of the Arm Length Price (ALP) for international transactions conducted by ICICI Bank related to adjustments for...
![ITAT directs to recompute ALP of international transactions carried out by ICICI Bank pertaining to adjustment towards back office support services [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/site-img-13.jpg "ITAT directs to recompute ALP of international transactions carried out by ICICI Bank pertaining to adjustment towards back office support services [Read Order]")
Expenses incurred towards club membership fee of employees is business expenditure: ITAT grants relief to ICICI Bank [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, while granting relief to assessee ICICI Bank, held that expenses incurred towards the club membership fee of employees are business...
![Expenses incurred towards club membership fee of employees is business expenditure: ITAT grants relief to ICICI Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/business-expenditure-ITAT-ICICI-Bank-TAXSCAN.jpg "Expenses incurred towards club membership fee of employees is business expenditure: ITAT grants relief to ICICI Bank [Read Order]")
Relief to ICICI Bank: ITAT directs to allow Depreciation claimed on Leased Assets continuing from Past Lease Transactions. [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, directed to allow depreciation claims on leased assets continuing from past lease transactions hence granting relief to ICICI Bank. The...
![Relief to ICICI Bank: ITAT directs to allow Depreciation claimed on Leased Assets continuing from Past Lease Transactions. [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/site-img-14.jpg "Relief to ICICI Bank: ITAT directs to allow Depreciation claimed on Leased Assets continuing from Past Lease Transactions. [Read Order]")
MTM losses incurred in regular course of business of ICICI Bank allowable as deduction: ITAT directs AO to bring MTM gain reverse back to tax [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that mark-to-market losses incurred in the regular course of business by ICICI Bank are allowable as a deduction for computing tax...
![MTM losses incurred in regular course of business of ICICI Bank allowable as deduction: ITAT directs AO to bring MTM gain reverse back to tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/MTM-losses-ICICI-Bank-ITAT-AO-MTM-TAXSCAN.jpg "MTM losses incurred in regular course of business of ICICI Bank allowable as deduction: ITAT directs AO to bring MTM gain reverse back to tax [Read Order]")
Life Insurance Business prepares Financial Statement as per IRDA regulations, for Purpose of Taxation Section 44 can Apply: ITAT grants relief to HDFC Life Insurance [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) granted relief to HDFC Life Insurance Company and held that when the life insurance business prepares the financial statement as per the...
![Life Insurance Business prepares Financial Statement as per IRDA regulations, for Purpose of Taxation Section 44 can Apply: ITAT grants relief to HDFC Life Insurance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Life-Insurance-Business-Financial-Statement-IRDA-regulations-Taxation-ITAT-grants-relief-HDFC-Life-Insurance-TAXSCAN.jpg "Life Insurance Business prepares Financial Statement as per IRDA regulations, for Purpose of Taxation Section 44 can Apply: ITAT grants relief to HDFC Life Insurance [Read Order]")