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
![ITAT permits Inclusion of Five Comparable Companies for Transfer Pricing, quashes Rs. 2.39 Cr Adjustment [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/500x300_2054339-itat-mumbai-companies-transfer-pricing-quashes-tax-assessment-taxscan.webp "ITAT permits Inclusion of Five Comparable Companies for Transfer Pricing, quashes Rs. 2.39 Cr Adjustment [Read Order]")
ITAT permits Inclusion of Five Comparable Companies for Transfer Pricing, quashes Rs. 2.39 Cr Adjustment [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the inclusion of five additional companies as comparables for transfer ...
![Hiring of Charter Plane cannot be Treated as a Payment made for Professional or Technical Services: ITAT remands matter [Read Order]](https://images.taxscan.in/h-upload/2025/06/25/250x150_2054144-whatsapp-image-2025-06-25-at-101439-am.webp "Hiring of Charter Plane cannot be Treated as a Payment made for Professional or Technical Services: ITAT remands matter [Read Order]")
![ITAT Holds 10% Tolerance Limit u/s 56(2)(x) Applicable Retrospectively, Cuts Addition in Property Valuation Case [Read Order]](https://images.taxscan.in/h-upload/2025/06/23/250x150_2053169-itat-tolerance-limit-taxscan.webp "ITAT Holds 10% Tolerance Limit u/s 56(2)(x) Applicable Retrospectively, Cuts Addition in Property Valuation Case [Read Order]")
![ITAT Allows Goregaon Education Society’s Exemption Claim u/s 11 Despite Delay in Filing Forms 9A and 10 obeying CBDT Circular [Read Order]](https://images.taxscan.in/h-upload/2025/06/22/250x150_2052416-itat-goregaon-education-societys-exemption-claim-us-11-despite-filing-forms-9a-cbdt-circular-taxscan.webp "ITAT Allows Goregaon Education Society’s Exemption Claim u/s 11 Despite Delay in Filing Forms 9A and 10 obeying CBDT Circular [Read Order]")
![Dividend Paid to IFC Exempt from Dividend Distribution Tax Under Overriding Immunity of IFC Act, 1958: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/06/19/250x150_2050593-dividend-paid-to-ifc-exempt-ifc-exempt-from-dividend-distribution-dividend-distribution-tax-taxscan.webp "Dividend Paid to IFC Exempt from Dividend Distribution Tax Under Overriding Immunity of IFC Act, 1958: ITAT [Read Order]")
Deferred Sales Tax Waiver is Taxable as Business Income Under Section 28(iv) of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the waiver of deferred sales tax liability, prepaid at Net Present Value (NPV), constitutes taxable business income under...
![Deferred Sales Tax Waiver is Taxable as Business Income Under Section 28(iv) of Income Tax Act: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/06/19/500x300_2050475-business-income-itat-taxscan.webp "Deferred Sales Tax Waiver is Taxable as Business Income Under Section 28(iv) of Income Tax Act: ITAT [Read Order]")
ITAT Allows KBS Creations’ Appeal, Rules No Transfer Pricing Adjustment Without Proved ‘Arrangement’ Under Section 80IA(10) [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has set aside a transfer pricing (TP) adjustment of Rs. 10.98 crore and ruled that the Assessing Officer (AO) failed to establish an...
![ITAT Allows KBS Creations’ Appeal, Rules No Transfer Pricing Adjustment Without Proved ‘Arrangement’ Under Section 80IA(10) [Read Order]](https://images.taxscan.in/h-upload/2025/06/19/500x300_2050488-transfer-pricing-.webp "ITAT Allows KBS Creations’ Appeal, Rules No Transfer Pricing Adjustment Without Proved ‘Arrangement’ Under Section 80IA(10) [Read Order]")
Only 3 Out of 26 Gold Transactions Found Bogus: ITAT Orders Re-computation Based on Gross Profit Margin [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that only 3 out of 26 gold purchase transactions by Shah Traders were bogus and directed the Assessing Officer (AO) to recompute the...
![Only 3 Out of 26 Gold Transactions Found Bogus: ITAT Orders Re-computation Based on Gross Profit Margin [Read Order]](https://images.taxscan.in/h-upload/2025/06/18/500x300_2050015-gold-transactions-bogus-taxscan.webp "Only 3 Out of 26 Gold Transactions Found Bogus: ITAT Orders Re-computation Based on Gross Profit Margin [Read Order]")
‘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...
![‘May Impress a Math Student, Not Income Tax Proceedings’: ITAT Deletes AO’s ₹5.39 Cr Addition Based on Two Days’ Bills [Read Order]](https://images.taxscan.in/h-upload/2025/06/17/500x300_2049433-income-tax-proceedings-itat-income-tax-taxscan.webp "‘May Impress a Math Student, Not Income Tax Proceedings’: ITAT Deletes AO’s ₹5.39 Cr Addition Based on Two Days’ Bills [Read Order]")
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 ...
![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]](https://images.taxscan.in/h-upload/2025/06/13/500x300_2043688-itat-itat-mumbai-abhu-dhabi-commercial-bank-taxscan.webp "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]")
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...
![S.80-IC Deduction Must Be Computed Solely on Eligible Unit’s Profit, ITAT Bars Set-Off of Non-Eligible Unit Losses [Read Order]](https://images.taxscan.in/h-upload/2025/06/12/500x300_2043158-deduction-deduction-must-be-computed-solely-solely-on-eligible-units-profit.webp "S.80-IC Deduction Must Be Computed Solely on Eligible Unit’s Profit, ITAT Bars Set-Off of Non-Eligible Unit Losses [Read Order]")
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...
![ITAT reaffirms Principle of Consistency: Directs AO to Retain Long-Standing Expense Allocation Method for Sysmex India Pvt Ltd [Read Order]](https://images.taxscan.in/h-upload/2025/06/12/500x300_2043143-sysmex-india-pvt-ltd-site-img.webp "ITAT reaffirms Principle of Consistency: Directs AO to Retain Long-Standing Expense Allocation Method for Sysmex India Pvt Ltd [Read Order]")