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

Non-mentioning of Specific Limb in Income Tax Notice and Assessment Order by AO: ITAT deletes Penalty u/s 271(1)(c) [Read Order]

Avinash Kurungot

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) in a recent decision reaffirmed the need for ensuring clarity and avoiding all sorts...

Hardship allowances Received From Housing Developers to Compensate Dispossession are Non Taxable:...

Addition u/s 68 of Income Tax Act Unjustified Due to Incorrect Tax Neutrality: ITAT Sets Aside...

Exemption Allowable on Sale Consideration Invested In Purchase of Property with Prior Permission of...

Rejection of Additional Evidence by weighted Deduction u/s 35(2AB): ITAT directs Re-adjudication...

Lack of Adverse observations by AO: ITAT allows long-term Capital Gain Exemption [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently ruled in favor of an Assessee whose long-term capital gains exemption was disallowed by the Assessing Officer on the basis of...

Undeclared Foreign Income from House Property and Other Sources Declared in Rectified ITR: ITAT deletes Penalty u/s 271 [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty of Rs.9,24,760 levied under section 271(1)(c) of the Income Act, 1961 for furnishing inaccurate particulars leading...

ITAT allows Income Tax Exemptions u/s 80P, claimed by CIDCO [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the appeal in favour of the assessee CIDCO and allowed income tax deduction under Section 80P(2)(a)(i) and 80P(2)(d) of the...

Income Tax Addition On Interest Income Received Out Of FDs is Invalid In Absence Of Corroborative Evidence: ITAT [Read Order]

In a significant case, the Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has Income tax addition on interest income received out of Fixed Deposits ( FDs) is invalid in absence of corroborative...

ITAT upholds CIT (A) Ruling deleting Addition Made by AO on Bogus LTCG Due to Lack of Inquiry [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the revenue's appeal, upholding the Commissioner of Income Tax (Appeals) [ CIT(A) ]'s decision to delete the addition made by...

Taxpayer Rectifies Excess Salary Income Declaration with Revised Return: ITAT deletes Penalty u/s 271(1)(c) [Read Order]

In a significant ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1)(c) of the Income Tax Act,1961, after the taxpayer rectified the excess...

Initiation of Legal Proceedings against Mercator Ltd during Moratorium: ITAT upholds IBC Provision against Deputy Commissioner of Income Tax [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) adjudicated two cross appeals filed by the Deputy Commissioner of Income Taxes, Mumbai against Mercator Ltd., Mumbai undergoing...

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