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

Mere Reference to “Misreporting” in Income Tax Assessment Order Insufficient to Deny Statutory Immunity from Penalty & Prosecution: ITAT [Read Order]

Kalyani B. Nair

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) ruled that mere reference to “misreporting” in assessment order is an insufficient...

Professional Service Receipts of German Tax Resident not Taxable in India; Coverable under Article...

Transactions Executed on Stock Exchange with Due Payment of STT: ITAT Deletes Income Tax Addition...

Foreign Company Eligible for Concessional Tax Rate Without Separate Central Government Approval for...

Convertible Debentures Issued by Reliance Group Entity Cannot Be Added to Book Profits as Transition...

Consignment Sales Cannot Be Construed as Own Turnover for Income Estimation: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, upheld the deletion of an addition made on account of estimated profit after finding that the Assessing Officer had misconstrued consignment...

Reassessment Proceedings Non Est Where S.148 Notices Are Issued Beyond Limitation Period: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, quashed the reassessment proceedings for Assessment Years 2016-17 and 2017-18 after holding that the notices issued under Section 148 were...

Non-Deposit of TDS by Employer to Govt cannot Prejudice Employees’ Claim for Credit: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the employer’s non-deposit of TDS (tax deduction at source) cannot prejudice taxpayers' claim for credit. The appeal...

Broken Period Interest Paid on Purchase of Securities is Allowable as Revenue Deduction: ITAT in American Express Case [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that broken period interest paid by American Express Bank Ltd. on purchase of securities was allowable as revenue deduction. ...

S.14A Restriction Applies Only to Exempt Income & Not to Income Chargeable at Concessional Tax Rates: ITAT in American Express Case [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that Section 14A applies only to income which does not form part of total income and cannot be applied to income which is taxable...

Interest Received By Indian Branch From Head Office & Overseas Branches Not Taxable, Principle of Mutuality Applies: ITAT in American Express Case [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that interest received by the Indian branch of American Express Bank Ltd. from its head office and overseas branches was not...

Software Acquired For ATM Operations & Banking Activities Is Revenue Expenditure, Not Capital Expenditure: ITAT in American Express Case [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that software acquired by American Express Bank Ltd. for ATM operations and banking activities was revenue expenditure and not...