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 Weekly Round Up [August 10th - August 16th]](https://images.taxscan.in/h-upload/2025/08/16/500x300_2077449-itat-weekly-round-up-taxscan.webp "ITAT Weekly Round Up [August 10th - August 16th]")
ITAT Weekly Round Up [August 10th - August 16th]
This weekly round-up analytically summarises the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan during the...
![Only Profit Element Taxable as Sales and Manufacturing Activity is Not Disputed: ITAT upholds Restriction of Disallowance to 12.5% on Bogus Purchases [Read Order]](https://images.taxscan.in/h-upload/2025/08/16/250x150_2077434-bogus-purchases-itat-penalty-taxscan.webp "Only Profit Element Taxable as Sales and Manufacturing Activity is Not Disputed: ITAT upholds Restriction of Disallowance to 12.5% on Bogus Purchases [Read Order]")
![Denial of TDS Credit Due to Form 26AS Mismatch: ITAT Directs AO to Verify Taxpayer Receipt and Allow Full Credit [Read Order]](https://images.taxscan.in/h-upload/2025/08/15/250x150_2076927-tds-form-26as-mismatch-itat-taxscan.webp "Denial of TDS Credit Due to Form 26AS Mismatch: ITAT Directs AO to Verify Taxpayer Receipt and Allow Full Credit [Read Order]")
![₹4.24 Crore Received from Brother Treated as Unexplained Cash Credit: ITAT Upholds CIT(A) Deletion Citing Documentary and Third-Party Evidence [Read Order]](https://images.taxscan.in/h-upload/2025/08/15/250x150_2076926-unexplained-cash-credit-itat-cita-taxscan.webp "₹4.24 Crore Received from Brother Treated as Unexplained Cash Credit: ITAT Upholds CIT(A) Deletion Citing Documentary and Third-Party Evidence [Read Order]")
![AO Obtains Invalid Sanction for Reopening Assessment Beyond Three Years u/s 148: ITAT Quashes Notice and Proceedings [Read Order]](https://images.taxscan.in/h-upload/2025/08/15/250x150_2076905-reopening-assessment-taxscan.webp "AO Obtains Invalid Sanction for Reopening Assessment Beyond Three Years u/s 148: ITAT Quashes Notice and Proceedings [Read Order]")
Condonation of Delay Over Spam Email: ITAT Remands 12AB Registration Application to CIT(E) [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has condoned the delay in filing an appeal after finding that the impugned order had been sent by the department was to the assessee’s spam...
![Condonation of Delay Over Spam Email: ITAT Remands 12AB Registration Application to CIT(E) [Read Order]](https://images.taxscan.in/h-upload/2025/08/15/500x300_2076885-condonation-spam-email-itat-12ab-registration-application-cite-taxscan.webp "Condonation of Delay Over Spam Email: ITAT Remands 12AB Registration Application to CIT(E) [Read Order]")
ITAT Deletes Unexplained Cash Credit Addition of ₹2.85 Lakh u/s 68 Due to Lack of AO Verification of Broker Documents [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the unexplained cash credit addition of ₹2.85 lakh under section 68 of Income Tax Act,1961,due to the Assessing Officer’s (AO) ...
![ITAT Deletes Unexplained Cash Credit Addition of ₹2.85 Lakh u/s 68 Due to Lack of AO Verification of Broker Documents [Read Order]](https://images.taxscan.in/h-upload/2025/08/13/500x300_2076427-itat-itat-deletes-unexplained-cash-credit-unexplained-cash-credit-taxscan.webp "ITAT Deletes Unexplained Cash Credit Addition of ₹2.85 Lakh u/s 68 Due to Lack of AO Verification of Broker Documents [Read Order]")
![Partnership Firm Losses Cannot be Added Back in Book Profit Calculation u/s 115JB:ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/08/13/500x300_2076409-partnership-firm-added-back-book-profit-itat-taxscan.webp "Partnership Firm Losses Cannot be Added Back in Book Profit Calculation u/s 115JB:ITAT [Read Order]")
ITAT Allows Use of Extrapolated Data for Comparables With Different Year-End in ITeS Transfer Pricing Dispute Involving Goldman Sachs [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the use of extrapolated data for comparables with a different financial year-end in an ITeS transfer pricing dispute involving ...
![ITAT Allows Use of Extrapolated Data for Comparables With Different Year-End in ITeS Transfer Pricing Dispute Involving Goldman Sachs [Read Order]](https://images.taxscan.in/h-upload/2025/08/13/500x300_2076448-itat-mumbai-goldman-sachs-itat-case.webp "ITAT Allows Use of Extrapolated Data for Comparables With Different Year-End in ITeS Transfer Pricing Dispute Involving Goldman Sachs [Read Order]")
Relief for Goldman Sachs: ITAT Deletes ₹19.8 lakh TP Adjustment u/s 92CA as Margins Exceeds Comparables [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) granted relief to Goldman Sachs by deleting a ₹19.8 lakh transfer pricing adjustment under section 92CA of Income Tax Act,1961 as margins...
![Relief for Goldman Sachs: ITAT Deletes ₹19.8 lakh TP Adjustment u/s 92CA as Margins Exceeds Comparables [Read Order]](https://images.taxscan.in/h-upload/2025/08/13/500x300_2076361-goldman-sachs-taxscan.webp "Relief for Goldman Sachs: ITAT Deletes ₹19.8 lakh TP Adjustment u/s 92CA as Margins Exceeds Comparables [Read Order]")
Unsigned Loose Paper Not Convincingly Explained: ITAT Restores ₹75 Lakh On-Money Addition u/s 69A to CIT(A) [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the assessee's explanation for an unsigned loose paper found during search was not convincing and restored the Rs. 75 lakh ...
![Unsigned Loose Paper Not Convincingly Explained: ITAT Restores ₹75 Lakh On-Money Addition u/s 69A to CIT(A) [Read Order]](https://images.taxscan.in/h-upload/2025/08/13/500x300_2076349-itat-money-addition-unsigned-loose-paper-taxscan.webp "Unsigned Loose Paper Not Convincingly Explained: ITAT Restores ₹75 Lakh On-Money Addition u/s 69A to CIT(A) [Read Order]")
Gold Loan Account Records and Bank Records validates Gold Loan Business: ITAT deletes Addition of Cash Withdrawals u/s 69C [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) deleted addition of cash withdrawal under Section 69C of the Income Tax Act, 1961, observing that the documentary evidence including gold...
![Gold Loan Account Records and Bank Records validates Gold Loan Business: ITAT deletes Addition of Cash Withdrawals u/s 69C [Read Order]](https://images.taxscan.in/h-upload/2025/08/13/500x300_2076326-gold-loan-taxscan.webp "Gold Loan Account Records and Bank Records validates Gold Loan Business: ITAT deletes Addition of Cash Withdrawals u/s 69C [Read Order]")