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

MAT u/s 115JB Inapplicable to Banks: ITAT affirms Deletion of ₹305.49 Cr Penalty on Central Bank [Read Order]

Akhaigha T Josh

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the Revenue’s appeal and upheld the deletion of a penalty of ₹305,49,63,285...

WhatsApp Chat Between Buyer’s Son and Accountant Has No Evidentiary Value Without 65B Certificate:...

Goodwill Arising on Amalgamation Qualifies as Intangible Asset Eligible for Depreciation u/s...

Disallowance of Stock Write-Down u/s 37(1) without Examining Evidence Unjustified: ITAT Remands...

Individual Members Occupying Flats Not a Housing Society: ITAT confirms Tax Liability on Development...

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]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Bench at Mumbai, directed the Assessing Officer (AO) to grant full Tax Deducted at Source (TDS) credit of ₹14,78,140 to the assessee, for...

Wrong Tax Advice Not a ‘Sufficient Cause’ for 1,370-Day Delay: ITAT Says Assessee Cannot Shift Entire Blame to Consultant [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has dismissed the appeal on grounds of an inordinate delay of 1,370 days in filing, holding that the assessee’s reliance on its...

Seized Excel Sheet Not Prepared by Taxpayer, Not Credible: ITAT Deletes ₹35 Lakh Unexplained Investment Addition [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) deleted ₹35 Lakh addition under section 69A/69B for alleged unaccounted land investment for the assessment year (A.Y) 2016-17, holding that...

Cash Found in Locker During Search belongs to Entire Family, Not Solely belongs to Taxpayer: ITAT deletes Addition u/s 69A [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that cash found in assessee’s locker during search belonged to the entire family residing together and not solely to the taxpayer and...

Gold Jewellery Belongs to Wife and Mother and within Permissible Limits Set by CBDT: ITAT Deletes Addition [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) deleted additions of Unexplained Gold jewellery belonging to the Assessee’s wife and mother, where the quantity was within the prescribed...

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...