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

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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

No Retrospective Amendment to Section 14A: ITAT Dismisses Revenue's Plea [Read Order]

Adwaid M S

In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Mumbai Bench dismissed the Revenue’s appeal in a case concerning the applicability...

ITAT remits case back to AO over Assessee's Silence & Lack of Compliance [Read Order]

Non-Appearance Due to Accounts Team Employee's Exit from Company: ITAT Imposes ₹5,000 Penalty and...

Income Tax Annual Digest 2024: ITAT Cases [Part 23]

Notice to Merged Entity Void ab intio: ITAT strikes down Income Tax Reassessment u/s 148 [Read...

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 Commissioner of Income Tax ( Appeals ) [ CIT (A) ] under...

Interest u/s 234C to be calculated on Returned Income: ITAT in Goldman Sachs case [Read Order]

In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that interest under Section 234C of the Income Tax Act, 1961, should be calculated based on the returned income...

ESOP expenses should not be regarded contingent or notional: ITAT allows Goldman Sachs to claim deduction u/s 37(1) [Read Order]

In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) allowed Goldman Sachs to claim deduction under Section 37(1) of the Income Tax Act 1961 and held that ESOP expenses...

ITAT allows Goldman Sachs to claim deduction for leave encashment paid before due date of ITR filing u/s 43B(f) [Read Order]

In a recent ruling, the Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the assessee Goldman Sachs to claim deduction for leave encashment paid before the due date of ITR filing...

Depreciation Claim of 30.23 Cr on Intangible Assets Disallowed: ITAT upholds Revision of Assessment u/s 263 [Read Order]

In а recent ruling, thе Mumbai benсh оf thе Income Tах Appellate Tribunal ( ITAT ) hеld thаt thе authorities must adequately investigated а deрreciаtiоn clаim fоr intаngible аssets, аnd thе аssessee...

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...

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...

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