ITAT Mumbai Judgments, Orders & News | Income Tax Appellate Tribunal

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Explore the latest ITAT Mumbai judgments, orders, and appellate decisions on direct tax matters from the Mumbai bench of the Income Tax Appellate Tribunal

Losses from One Unit Need not Offset Profits of Another for Section 80-IB Deduction: ITAT [Read Order]

Saagarika Gopinath

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...

Long-Term Capital Gains cannot be deemed Bogus as AO fails to prove Price Rigging: ITAT [Read Order]

ITAT invalidates Reassessment proceeding: No addition made by AO in respect of the issue for which...

Assessee Proves Validity of Outstanding Trade Payables: ITAT deletes addition u/s 41( 1 ) [Read...

ITAT - Mumbai Bench of the Income Tax Appellate Tribunal - Short Term Capital Losses - genuine tax planning - STCL - STCL from Sale of Shares - National Faceless Appeal Centre - Avendus Capital Pvt. Ltd - Taxscan

Setting-off STCL from Sale of Shares against LTCG is Tax Planning, not Evasion: ITAT backs Assessee...

₹3 Crores Gift from NRI Son to Mother Deemed Valid and Non-Taxable: ITAT Citing Donor's Sufficient Funds [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that Rs. 3 crores gift received by the assessee from her NRI son was deemed valid and non-taxable under the Income Tax Act citing...

Section 80 P under Income Tax Act,1961: Case Digest on Recent Decisions

Section 80P of the Income Tax Act, 1961, provides tax deductions to cooperative societies, allowing them to claim exemptions on their income. This section aims to promote and support the growth of...

GST cannot be included while computing Deemed Income u/s 44B: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) held that, Goods and Services Tax should not be added while computing Deemed Income under Section 44AB of the Income Tax Act, 1961. ...

GST paid shall not be Included while Computing Total Income u/s 44BB: ITAT [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) has ruled that the Goods and Services Tax ( GST ) paid by the assessee should not be included while computing the gross receipts under...

ITAT Weekly Round Up

ITAT upholds CIT(A) decision on Sales Commission Payments, Concluding No TDS Liability for Fees for Technical Services [Read Order] DCIT vs Algonomy Software Pvt. Ltd CITATION: 2024 TAXSCAN (ITAT)...

Reliance Solely on Investigation Report: ITAT upholds Deletion of ₹1.5Cr Addition [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Mumbai, recently in a judgment, upheld the deletion of a ₹1.5 crore addition initially imposed on one assessee/appellant, Amal Corporation, as it was...

No Reason to Doubt Source of Funds as Loans in Bank Statement: ITAT dismisses Revenue’s Appeal [Read Order]

In a recent judgment, the Income Tax Appellate Tribunal ( ITAT ) in Mumbai ruled in favor of an assessee, Ashok Jasraj Jain, dismissing an appeal by the Revenue Department that questioned the...

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