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 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]")
No Addition u/s 68 based on turnover declared under 44 AD of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that no addition can be made under section 68 of the Income Tax Act,...
![ITAT upholds Disallowance for delayed deposit of PF & ESIC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Disallowance-for-Delayed-Deposit-TAXSCAN.jpg "ITAT upholds Disallowance for delayed deposit of PF & ESIC [Read Order]")
![CIT (A) Fails to Prove Records of Unsecured Loan Non -genuine: ITAT Deletes Disallowance of Rs. 116 crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/CIT-A-Records-Unsecured-Loan-Non-genuine-ITAT-Disallowance-TAXSCAN.jpg "CIT (A) Fails to Prove Records of Unsecured Loan Non -genuine: ITAT Deletes Disallowance of Rs. 116 crore [Read Order]")
![No valid satisfaction recorded before issuing notice u/s 153C of Income Tax Act: ITAT quashes Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/No-valid-satisfaction-Income-Tax-Act-ITAT-ITAT-quashes-Assessment-Order-taxscan.jpg "No valid satisfaction recorded before issuing notice u/s 153C of Income Tax Act: ITAT quashes Assessment Order [Read Order]")
"Dragged the assessee towards an unwarranted litigation on their whims and fancies": ITAT deletes Addition on Whole Amount from Sale of Shares [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) while deleting the addition on the whole amount from the sale of shares held that the both the authorities acted in a casual manner and...
![Dragged the assessee towards an unwarranted litigation on their whims and fancies: ITAT deletes Addition on Whole Amount from Sale of Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Sale-of-Shares-Unwarranted-litigation-taxscan.jpg "Dragged the assessee towards an unwarranted litigation on their whims and fancies: ITAT deletes Addition on Whole Amount from Sale of Shares [Read Order]")
Transfer of Development Rights between two Partnership Firms not Taxable under Capital Gains from Partners: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) held that transfer of development rights between two partnership firms is not taxable under the capital gain from partners. The...
![Transfer of Development Rights between two Partnership Firms not Taxable under Capital Gains from Partners: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Capital-Gains-Income-Tax-TAXSCAN.jpg "Transfer of Development Rights between two Partnership Firms not Taxable under Capital Gains from Partners: ITAT [Read Order]")
No addition u/s 56(2)(x)(b)(B)(ii) of Income Tax Act when Difference between Purchase value and Fair Market value less than 5%: ITAT [Read Order]
The Mumbai bench, Income Tax Appellate Tribunal ( ITAT ) held that no addition should be made under section 56(2)(x)(b)(B)(ii) of the Income Tax Act when Difference between the purchase value and...
![No addition u/s 56(2)(x)(b)(B)(ii) of Income Tax Act when Difference between Purchase value and Fair Market value less than 5%: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Mumbai-ITAT-Income-Tax-Purchase-value-vs.-Fair-Market-value-ITAT-taxscan.jpeg "No addition u/s 56(2)(x)(b)(B)(ii) of Income Tax Act when Difference between Purchase value and Fair Market value less than 5%: ITAT [Read Order]")
ITAT quashes assessment order passed u/s 147Â on account of non-following safeguards provided in sections 148 of Income Tax Act [Read Order]
The Mumbai bench Income Tax Appellate Tribunal ( ITAT ) quashed the assessment order passed under section 147 of the Income Tax Act , 1961 on account of non-following safeguards provided in sections...
![ITAT quashes assessment order passed u/s 147Â on account of non-following safeguards provided in sections 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-assessment-order-us-147-account-non-following-safeguards-sections-148-Income-Tax-Act-Taxscan.jpg "ITAT quashes assessment order passed u/s 147Â on account of non-following safeguards provided in sections 148 of Income Tax Act [Read Order]")
![Powers of CIT (A) coterminous with that of AO: ITAT upholds CIT(A) Order u/s 250 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Powers-of-CIT-A-CIT-A-AO-ITAT-CITA-Order-taxscan.jpg "Powers of CIT (A) coterminous with that of AO: ITAT upholds CIT(A) Order u/s 250 [Read Order]")
Setback to ICICI: ITAT confirms Revision of Indexation on Foreign Currency to Calculate Capital Loss [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) confirmed the revision of indexation on foreign currency for calculating capital loss which led to a set back to the ICICI. It was...
![Setback to ICICI: ITAT confirms Revision of Indexation on Foreign Currency to Calculate Capital Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-ICICI-ICICI-capital-loss-Foreign-Currency-Indexation-taxscan.jpg "Setback to ICICI: ITAT confirms Revision of Indexation on Foreign Currency to Calculate Capital Loss [Read Order]")
Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]
In recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted addition under Section 68 of Income Tax Act as genuineness of purchase and sale of shares is proven by...
![Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Purchase-and-Sale-of-Shares-Shares-taxscan.jpg "Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]")