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

Transactions in Agricultural Lands classified as Business Income as per Company Objectives: ITAT Deletes Addition u/s 56 [Read Order]

Eeva Mary Sanil

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that Transactions and Commissions on agricultural lands would be considered...

Rs. 27.04 Cr. Share Application Money Addition u/s 68: ITAT Directs Re-Examination of Financial...

Таx onсe Accоunted u/s 245D(4) cаnnоt be Reаssessed u/s 69С: IТАТ deletes Additiоn Prеvеnting Dоuble...

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

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 reopening was made

In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that the reopening of the assessment was bad in law as the assessing officer ( AO ) made no addition in respect...

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

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under Section 41( 1 ) of the Income Tax Act, 1961, as the assessee successfully proved the validity of its...

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

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently granted relief to an Assessee, ruling that setting-off of Short Term Capital Losses (STCL) against Long Term Capital Gains (LTCG)...

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

₹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...

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