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
![Taxpayers Claim on Bad Debt Deduction u/s 36 (1) (vii) Allowed: ITAT Condones Delay in Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Taxpayers-Claim-Bad-Debt-Deduction-ITAT-mumbai-taxscan.jpg "Taxpayers Claim on Bad Debt Deduction u/s 36 (1) (vii) Allowed: ITAT Condones Delay in Appeal [Read Order]")
Taxpayer's Claim on Bad Debt Deduction u/s 36 (1) (vii) Allowed: ITAT Condones Delay in Appeal [Read Order]
In a recent case, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ), in an appeal filed by the assessee against the order of the...
![Interest u/s 234C to be calculated on Returned Income: ITAT in Goldman Sachs case [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Goldman-Sachs.jpeg "Interest u/s 234C to be calculated on Returned Income: ITAT in Goldman Sachs case [Read Order]")
![ESOP expenses should not be regarded contingent or notional: ITAT allows Goldman Sachs to claim deduction u/s 37(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-ESOP-expense-Section-371-of-Income-Tax-Act-taxscan.jpg "ESOP expenses should not be regarded contingent or notional: ITAT allows Goldman Sachs to claim deduction u/s 37(1) [Read Order]")
![ITAT allows Goldman Sachs to claim deduction for leave encashment paid before due date of ITR filing u/s 43B(f) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Mumbai-Income-Tax-Income-Tax-Appellate-Tribunal-ITR-ITR-filing-TAXSCAN-2.jpg "ITAT allows Goldman Sachs to claim deduction for leave encashment paid before due date of ITR filing u/s 43B(f) [Read Order]")
![Depreciation Claim of 30.23 Cr on Intangible Assets Disallowed: ITAT upholds Revision of Assessment u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/itat-assessment-depreciation-section-263-taxscan-.jpg "Depreciation Claim of 30.23 Cr on Intangible Assets Disallowed: ITAT upholds Revision of Assessment u/s 263 [Read Order]")
Verification Failures in Disputed Purchases and Labour Expenses: ITAT upholds 12.5% Addition on Alleged Bogus Purchases [Read Order]
In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the 12.5% addition on alleged bogus purchases due to verification failures in disputed purchases and labour...
![Verification Failures in Disputed Purchases and Labour Expenses: ITAT upholds 12.5% Addition on Alleged Bogus Purchases [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Disputed-purchases-Labour-Expenses-Alleqed-Boqus-Purchases-taxscan.jpg "Verification Failures in Disputed Purchases and Labour Expenses: ITAT upholds 12.5% Addition on Alleged Bogus Purchases [Read Order]")
ITAT sets aside additions on Penny Stock gains, directs deletion of Related Expenses due to Lack of Evidence [Read Order]
In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) set aside the additions made on penny stock gains and related expenses due to lack of evidence on the part of the...
![ITAT sets aside additions on Penny Stock gains, directs deletion of Related Expenses due to Lack of Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Mumbai-Penny-Stock-Expenses-Due-to-Lack-of-Evidence-Penny-Stock-gains-taxscan.jpg "ITAT sets aside additions on Penny Stock gains, directs deletion of Related Expenses due to Lack of Evidence [Read Order]")
Transactions in Agricultural Lands classified as Business Income as per Company Objectives: ITAT Deletes Addition u/s 56 [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that Transactions and Commissions on agricultural lands would be considered business income if the company's Memorandum of...
![Transactions in Agricultural Lands classified as Business Income as per Company Objectives: ITAT Deletes Addition u/s 56 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-Income-tax-case-on-Agricultural-Land-Transactions-taxscan.jpg "Transactions in Agricultural Lands classified as Business Income as per Company Objectives: ITAT Deletes Addition u/s 56 [Read Order]")
Rs. 27.04 Cr. Share Application Money Addition u/s 68: ITAT Directs Re-Examination of Financial Statements of Investors [Read Order]
In a recent ruling, the Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) directed the re-examination of the financial statements of investors regarding the Rs. 27.04 crore share application...
![Rs. 27.04 Cr. Share Application Money Addition u/s 68: ITAT Directs Re-Examination of Financial Statements of Investors [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Share-Application-ITAT-Share-Application-Money-ITAT-Directs-Re-Examination-Financial-Statements-Financial-Statements-of-Investors-Income-Tax-Appellate-Tribunal-Commissioner-of-Income-Tax-Taxscan.jpg "Rs. 27.04 Cr. Share Application Money Addition u/s 68: ITAT Directs Re-Examination of Financial Statements of Investors [Read Order]")
Таx onсe Accоunted u/s 245D(4) cаnnоt be Reаssessed u/s 69С: IТАТ deletes Additiоn Prеvеnting Dоuble Tахаtiоn [Read Order]
Тhe Mumbаi bеnсh оf thе Incоme Таx Appеllаtе Tribunаl ( IТAТ ) in thе саse оf Вeаchwood Propеrtiеs Рvt.Ltd hеld tахаtiоn оf аn incomе аlrеаdy tаxеd in earlier аssessment yeаrs or some othеr form...
![Таx onсe Accоunted u/s 245D(4) cаnnоt be Reаssessed u/s 69С: IТАТ deletes Additiоn Prеvеnting Dоuble Tахаtiоn [Read Order]](https://images.taxscan.in/h-upload/2025/06/03/500x300_2041089-itat-itat-mumbai-duble-ttin-taxscan.webp "Таx onсe Accоunted u/s 245D(4) cаnnоt be Reаssessed u/s 69С: IТАТ deletes Additiоn Prеvеnting Dоuble Tахаtiоn [Read Order]")
Losses from One Unit Need not Offset Profits of Another for Section 80-IB Deduction: ITAT [Read Order]
In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that the losses from one industrial unit need not offset the profits of another for section 80-IB deduction...
![Losses from One Unit Need not Offset Profits of Another for Section 80-IB Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-Section-80-IB-Deduction-Income-Tax-Act-Profits-taxscan.jpg "Losses from One Unit Need not Offset Profits of Another for Section 80-IB Deduction: ITAT [Read Order]")
Long-Term Capital Gains cannot be deemed Bogus as AO fails to prove Price Rigging: ITAT [Read Order]
In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that in the present case, long-term capital gains cannot be deemed bogus as the assessing officer ( AO ) fails...
![Long-Term Capital Gains cannot be deemed Bogus as AO fails to prove Price Rigging: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Mumbai-Income-Tax-Income-Tax-News-Long-Term-Capital-Gains-Taxscan.jpg "Long-Term Capital Gains cannot be deemed Bogus as AO fails to prove Price Rigging: ITAT [Read Order]")