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
![Waiver of Loan for Acquiring Capital Assets cannot be taxed as a Perquisite u/s 28 (iv) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Waiver-of-Loan-TAXSCAN.jpg "Waiver of Loan for Acquiring Capital Assets cannot be taxed as a Perquisite u/s 28 (iv) of Income Tax Act: ITAT [Read Order]")
Waiver of Loan for Acquiring Capital Assets cannot be taxed as a Perquisite u/s 28 (iv) of Income Tax Act: ITAT [Read Order]
In a recent ruling the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that the waiver of loan for acquiring capital assets...
![Deduction u/s 80 IA of Income Tax Act not available only to Persons Executing Works Contract: ITAT rejects Deduction Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Deduction-Income-Tax-Act-Works-Contract-ITAT-Deduction-Claim-taxscan.jpg "Deduction u/s 80 IA of Income Tax Act not available only to Persons Executing Works Contract: ITAT rejects Deduction Claim [Read Order]")
![Routine establishment Expenses and Interest on Loan taken for General Business Purposes is required to be allowed as Deduction: ITAT sets aside order passed by CIT (A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Routine-establishment-Expenses-Interest-on-Loan-General-Business-Purposes-allowed-as-Deduction-ITAT-taxscan.jpg "Routine establishment Expenses and Interest on Loan taken for General Business Purposes is required to be allowed as Deduction: ITAT sets aside order passed by CIT (A) [Read Order]")
![No Legal Proceedings during Resolution Process against CD, Only IRP can file Appeal with Creditor Committee Approval: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/No-Legal-Proceedings-Legal-Proceedings-Resolution-Process-CD-IRP-ITAT-taxscan.jpg "No Legal Proceedings during Resolution Process against CD, Only IRP can file Appeal with Creditor Committee Approval: ITAT dismisses Appeal [Read Order]")
![Interest Expenditure of Tonnage Tax Business has to be Excluded while Computing Disallowance under Rule 8D (2): ITAT Directs to Delete Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Interest-Expenditure-TAXSCAN.jpg "Interest Expenditure of Tonnage Tax Business has to be Excluded while Computing Disallowance under Rule 8D (2): ITAT Directs to Delete Disallowance [Read Order]")
Taxpayer voluntarily clarifies discrepancy in Lease Equalization Disallowance without Malicious Intent: ITAT deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1)(c) of the Income Tax Act, 1961 as the taxpayer voluntarily clarified the discrepancy in lease...
![Taxpayer voluntarily clarifies discrepancy in Lease Equalization Disallowance without Malicious Intent: ITAT deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-taxscan-1.jpg "Taxpayer voluntarily clarifies discrepancy in Lease Equalization Disallowance without Malicious Intent: ITAT deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]")
Printing, Publishing and Subscription of books of Vedas, Gita, Upanishads for imparting education is not Commercial activity: ITAT allows exemption u/s 11 of Income Tax Act [Read Order]
The Mumbai bench Income Tax Appellate Tribunal (ITAT) while allowing the exemption under section 11 of the Income Tax Act, 1961 held that printing , publishing and subscription of books of vedas ,...
![Printing, Publishing and Subscription of books of Vedas, Gita, Upanishads for imparting education is not Commercial activity: ITAT allows exemption u/s 11 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Printing-Publishing-Subscription-books-of-vedas-Printing-Publishing-and-Subscription-of-books-of-vedas-taxscan.jpg "Printing, Publishing and Subscription of books of Vedas, Gita, Upanishads for imparting education is not Commercial activity: ITAT allows exemption u/s 11 of Income Tax Act [Read Order]")
ITAT upholds Transfer Pricing Adjustment made on Purchase consideration paid under Scheme of Amalgamation entered with Holding Company [Read Order]
The Mumbai bench Income Tax Appellate Tribunal ( ITAT ) upheld that transfer pricing adjustment made on purchase consideration paid under the scheme of amalgamation entered with the holding company. ...
![ITAT upholds Transfer Pricing Adjustment made on Purchase consideration paid under Scheme of Amalgamation entered with Holding Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Transfer-Pricing-Adjustment-Scheme-of-Amalgamation-taxscan.jpg "ITAT upholds Transfer Pricing Adjustment made on Purchase consideration paid under Scheme of Amalgamation entered with Holding Company [Read Order]")
![Rectification of Mistakenly filed ITR by tax consultant: ITAT directs Re adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Rectification-ITR-Rectification-of-Mistakenly-filed-ITR-by-tax-consultant-tax-consultant-taxscan.jpg "Rectification of Mistakenly filed ITR by tax consultant: ITAT directs Re adjudication [Read Order]")
Relief to Bank of Nova Scotia: ITAT allows Deduction of Interest paid by Indian branch to Head office [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has granted relief to the Bank of Nova Scotia by allowing the deduction of interest paid by its Indian branch to its Head office. The...
![Relief to Bank of Nova Scotia: ITAT allows Deduction of Interest paid by Indian branch to Head office [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Bank-of-Nova-Scotia-ITAT-ITAT-allows-Deduction-of-Interest-taxscan.jpg "Relief to Bank of Nova Scotia: ITAT allows Deduction of Interest paid by Indian branch to Head office [Read Order]")
ITAT upholds Genuine Nature of Sunrise Asian Share Sales, allows LTCG claims under Section 10(38) of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) decision to uphold the genuine nature of Sunrise Asian share sales resulted in granting Long Term Capital Gain (LTCG) claims under Section...
![ITAT upholds Genuine Nature of Sunrise Asian Share Sales, allows LTCG claims under Section 10(38) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-upholds-Genuine-Nature-of-Sunrise-Asian-Share-Sales-Sunrise-Asian-Share-Sales-taxscan.jpg "ITAT upholds Genuine Nature of Sunrise Asian Share Sales, allows LTCG claims under Section 10(38) of Income Tax Act [Read Order]")
![No Addition u/s 68 based on turnover declared under 44 AD of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-taxscan.jpg "No Addition u/s 68 based on turnover declared under 44 AD of Income Tax Act: ITAT [Read Order]")