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 Applies Test of Human Probabilities, Rejects ₹84.8 Lakh Penny Stock LTCG Claim as ‘Unnatural and Pre-Arranged’ [Read Order]](https://images.taxscan.in/h-upload/2025/08/28/500x300_2081319-itat-rejects-penny-stock-ltcg-claim.webp "ITAT Applies Test of Human Probabilities, Rejects ₹84.8 Lakh Penny Stock LTCG Claim as ‘Unnatural and Pre-Arranged’ [Read Order]")
ITAT Applies Test of Human Probabilities, Rejects ₹84.8 Lakh Penny Stock LTCG Claim as ‘Unnatural and Pre-Arranged’ [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) upheld the addition of Rs. 84,79,100 after rejecting the assessee’s claim of long-term...
![Payments to foreign agents exempt from TDS as income not taxable in India: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/08/26/250x150_2080773-foreign-agents-exempt-tds-income-itat-taxscan.webp "Payments to foreign agents exempt from TDS as income not taxable in India: ITAT [Read Order]")
![ITAT allows LTCG Exemption u/s 54 on Sale of Old Flat as Possession of New Flat falls Within Prescribed Period [Read Order]](https://images.taxscan.in/h-upload/2025/08/26/250x150_2080801-itat-ltcg-exemption-old-flat-new-flat-prescribed-period-taxscan.webp "ITAT allows LTCG Exemption u/s 54 on Sale of Old Flat as Possession of New Flat falls Within Prescribed Period [Read Order]")
![Disallowance of ₹1.87 Crore MAT Credit in Schindler India’s Return of Income: ITAT Remands matter to AO to Verify & Allow Necessary Credit [Read Order]](https://images.taxscan.in/h-upload/2025/08/26/250x150_2080578-2060606-itat-ruling-income-tax-tribunal-tax-disallowance-taxscan.webp "Disallowance of ₹1.87 Crore MAT Credit in Schindler India’s Return of Income: ITAT Remands matter to AO to Verify & Allow Necessary Credit [Read Order]")
![ITAT Permits Schindler India to Exclude ₹1.09 Crore Written-Off from Book Profits noting it was Actual Bad Debt [Read Order]](https://images.taxscan.in/h-upload/2025/08/26/250x150_2080585-itat-itat-mumbai-bad-debt-bad-debt-schindler-india-taxscan.webp "ITAT Permits Schindler India to Exclude ₹1.09 Crore Written-Off from Book Profits noting it was Actual Bad Debt [Read Order]")
₹26 Lakh Shortfall in Permitted TDS: ITAT Directs AO to Allow Full Claim to Schindler India after Verifying Form 26AS [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench recently directed an Assessing Officer (AO) to allow elevator and escalator manufacturing giant Schindler India Private Limited (Schindler) to...
![₹26 Lakh Shortfall in Permitted TDS: ITAT Directs AO to Allow Full Claim to Schindler India after Verifying Form 26AS [Read Order]](https://images.taxscan.in/h-upload/2025/08/26/500x300_2080577-schindler-india.webp "₹26 Lakh Shortfall in Permitted TDS: ITAT Directs AO to Allow Full Claim to Schindler India after Verifying Form 26AS [Read Order]")
Brought Forward Business Loss Cannot Be Set Off Against Short-Term Capital Gains u/s 50 of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that brought forward business loss could not be set off against short-term capital gains from the sale of depreciated assets under ...
![Brought Forward Business Loss Cannot Be Set Off Against Short-Term Capital Gains u/s 50 of Income Tax Act: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/08/23/500x300_2079862-cita-disallow-a-claim-of-business-loss-in-the-presence-of-evidence-itat-taxscan.webp "Brought Forward Business Loss Cannot Be Set Off Against Short-Term Capital Gains u/s 50 of Income Tax Act: ITAT [Read Order]")
Taxability of Industrial promotional subsidy received by Mahindra & Mahindra Limited: ITAT directs de novo Adjudication. [Read Order]
In a recent case, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has directed the denovo adjudication regarding the taxability of the claim of disallowance of industrial promotional...
![Taxability of Industrial promotional subsidy received by Mahindra & Mahindra Limited: ITAT directs de novo Adjudication. [Read Order]](https://images.taxscan.in/h-upload/2025/08/22/500x300_2079234-itat-mahindra-case-taxscan.webp "Taxability of Industrial promotional subsidy received by Mahindra & Mahindra Limited: ITAT directs de novo Adjudication. [Read Order]")
Book profit to be increased by Expenses debited to P&L w.r.t. exempt income, not Disallowance u/s 14A: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has clarified that while computing book profits under Section 115JB of the Income Tax Act (MAT provisions), only the actual expenditure...
![Book profit to be increased by Expenses debited to P&L w.r.t. exempt income, not Disallowance u/s 14A: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/500x300_2078946-disallowance-us-14a-it-act-for-computing-book-profit-us-115jb-act-itat-taxscan.webp "Book profit to be increased by Expenses debited to P&L w.r.t. exempt income, not Disallowance u/s 14A: ITAT [Read Order]")
Relief to Axis Finance Ltd: ITAT Allows Club Membership Fees for Employees incurred as Business Expense [Read Order]
In a ruling of the Mumbai bench of the Income Tax Appellate Tribunal (ITAT), which partly allowed the claim of Axis Finance Ltd, it was held that club membership fees for employees incurred by the...
![Relief to Axis Finance Ltd: ITAT Allows Club Membership Fees for Employees incurred as Business Expense [Read Order]](https://images.taxscan.in/h-upload/2025/08/22/500x300_2079254-itat-club-membership-fees-axis-finance-tax-expense-case-taxscan.webp "Relief to Axis Finance Ltd: ITAT Allows Club Membership Fees for Employees incurred as Business Expense [Read Order]")
![Name of Assessee not Mentioned in Seized Documents: ITAT deletes Income Tax Additions [Read Order]](https://images.taxscan.in/h-upload/2025/08/22/500x300_2079210-seized-document-itat-income-tax-taxscan.webp "Name of Assessee not Mentioned in Seized Documents: ITAT deletes Income Tax Additions [Read Order]")
ITAT Deletes Disallowances of Public Relations, Shared Services, and Product Registration of BASF India, Citing No Change in Facts or Law [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal by revenue regarding the disallowances of ₹55,00,000 on Public Relations expenses, Shared Service (Malaysia), and...
![ITAT Deletes Disallowances of Public Relations, Shared Services, and Product Registration of BASF India, Citing No Change in Facts or Law [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/500x300_2078887-itat-shared-services-product-basf-taxscan.webp "ITAT Deletes Disallowances of Public Relations, Shared Services, and Product Registration of BASF India, Citing No Change in Facts or Law [Read Order]")