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 Enquiry by AO: ITAT upholds Revision of Bad Debts allowed u/s 36(1) (vii) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-Bad-Debts-taxscan.jpg "No Enquiry by AO: ITAT upholds Revision of Bad Debts allowed u/s 36(1) (vii) of Income Tax Act [Read Order]")
No Enquiry by AO: ITAT upholds Revision of Bad Debts allowed u/s 36(1) (vii) of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has upheld the revision of bad debts allowed under Section 36(1)(vii) of the Income...
![Unutilized CENVAT credit requires to be included in Closing Stock Value as u/s 145 of Income Tax Act: ITAT confirms Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/CENVAT-credit-Unutilized-CENVAT-credit-Closing-Stock-Value-Stock-Value-taxscan.jpg "Unutilized CENVAT credit requires to be included in Closing Stock Value as u/s 145 of Income Tax Act: ITAT confirms Addition [Read Order]")
![Non-striking of Irrelevant Matter would Render Income Tax Penalty Notice Defective: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-Income-Tax-Penalty-TAXSCAN.jpg "Non-striking of Irrelevant Matter would Render Income Tax Penalty Notice Defective: ITAT [Read Order]")
![No Disallowance on payments towards PF and ESI made before due date of filing Income Tax Return u/s 139(1) of Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/disallowance-payments-PF-and-ESI-Income-Tax-Return-us-1391-of-Act-ITAT-TAXSCAN.jpg "No Disallowance on payments towards PF and ESI made before due date of filing Income Tax Return u/s 139(1) of Act: ITAT [Read Order]")
![No Interest Cost cannot be claimed as Business Expenditure when borrowed amount utilized for making Investment in Shares: ITAT directs to recompute STCG from Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Mumbai-ITAT-Income-Tax-ITAT-ruling-on-interest-cost-Business-expenditure-and-shares-investment-Short-Term-Capital-Gains-Taxscan.jpg "No Interest Cost cannot be claimed as Business Expenditure when borrowed amount utilized for making Investment in Shares: ITAT directs to recompute STCG from Shares [Read Order]")
Liability of Directors continue even though after dissolving Company u/s 248(5) of Companies Act: ITAT upholds Notice u/s 148 of Income Tax Act [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) while upheld the notice issued under Section 148 of the Income Tax Act,1961 observed that liability of directors continues even though...
![Liability of Directors continue even though after dissolving Company u/s 248(5) of Companies Act: ITAT upholds Notice u/s 148 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-Liability-of-Directors-TAXSCAN.jpg "Liability of Directors continue even though after dissolving Company u/s 248(5) of Companies Act: ITAT upholds Notice u/s 148 of Income Tax Act [Read Order]")
ESOP Expenses are allowable expenditure u/s 37(1) of Income Tax Act: ITAT grants relief to HDFC Bank [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that Employee Stock Option Plan ( ESOP ) expenses are allowable expenditure under Section 37(1) of the Income Tax Act, 1961....
![ESOP Expenses are allowable expenditure u/s 37(1) of Income Tax Act: ITAT grants relief to HDFC Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-HDFC-Bank-ESOP-taxscan.jpg "ESOP Expenses are allowable expenditure u/s 37(1) of Income Tax Act: ITAT grants relief to HDFC Bank [Read Order]")
Bad Debts arising out of Business of Credit Card Services is part of Banking Activities: ITAT allows deduction claimed by HDFC Bank u/s 36(1)(vii) of Income Tax Act [Read Order]
The Mumbai bench, Income Tax Appellate Tribunal ( ITAT ) while allowing the deduction claimed by the HDFC Bank under Section 36(1)(vii) of the Income Tax Act, 1961 held that bead debts arising out of...
![Bad Debts arising out of Business of Credit Card Services is part of Banking Activities: ITAT allows deduction claimed by HDFC Bank u/s 36(1)(vii) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-HDFC-Bank-Credit-card-services-taxscan.jpg "Bad Debts arising out of Business of Credit Card Services is part of Banking Activities: ITAT allows deduction claimed by HDFC Bank u/s 36(1)(vii) of Income Tax Act [Read Order]")
![ITAT quashes Assessment Order passed on Violation of Principles of Natural Justice [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Assessment-Order-Violation-of-Principles-of-Natural-Justice-taxscan.jpg "ITAT quashes Assessment Order passed on Violation of Principles of Natural Justice [Read Order]")
Failure to establish Legal Expenses incurred from Trading Loss as Civil Expenditure: ITAT directs Readjudication [Read Order]
The Mumbai bench Income Tax Appellate Tribunal ( ITAT ) directed readjudication on account of failure to establish legal expenses incurred from the trading loss as civil expenditure. The Two...
![Failure to establish Legal Expenses incurred from Trading Loss as Civil Expenditure: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-Readjudication-Civil-Expenditure-taxscan.jpg "Failure to establish Legal Expenses incurred from Trading Loss as Civil Expenditure: ITAT directs Readjudication [Read Order]")
Sale of Software Products does not Constitute Royalty Income, Not taxable under Article 12 of India- Japan DTAA: ITAT [Read Order]
In a recent ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the sale of software products does not constitute royalty income and is not taxable under Article 12 of...
![Sale of Software Products does not Constitute Royalty Income, Not taxable under Article 12 of India- Japan DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Delhi-Income-Tax-Sale-of-Software-Products-TAXSCAN.jpg "Sale of Software Products does not Constitute Royalty Income, Not taxable under Article 12 of India- Japan DTAA: ITAT [Read Order]")
Assessment without following mandatory provisions of section 92CA and CBDT Instruction is erroneous: ITAT [Read Order]
In a recent case, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that assessment without following mandatory provisions of section 92CA of the Income Tax Act, 1961 and CBDT...
![Assessment without following mandatory provisions of section 92CA and CBDT Instruction is erroneous: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-CBDT-Assessment-TAXSCAN.jpg "Assessment without following mandatory provisions of section 92CA and CBDT Instruction is erroneous: ITAT [Read Order]")