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
![PCCIT’s or Director Generals Approval required for Income Tax Reassessment Post 3 Year Time Limit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Income-tax-Income-Tax-Reassessment-Director-General-PCIT-PCCIT-Approval-Director-General-Approval-taxscan.jpg "PCCIT’s or Director Generals Approval required for Income Tax Reassessment Post 3 Year Time Limit: ITAT [Read Order]")
PCCIT’s or Director General's Approval required for Income Tax Reassessment Post 3 Year Time Limit: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) quashed reassessment proceedings because the approval was wrongly obtained from the...
![Relief for Bennet Coleman: ITAT quashes Assessment Order u/s 153 as NFAC delays digital signature beyond statutory deadline [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Bennet-Coleman-NFAC-National-Faceless-Assessment-Centre-NFAC-digital-signature-delay-taxscan.jpg "Relief for Bennet Coleman: ITAT quashes Assessment Order u/s 153 as NFAC delays digital signature beyond statutory deadline [Read Order]")
![Hardship Allowance Received by Assessee from Developer as ‘compensation Towards Displacement is not a ‘revenue receipt’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Developers-compensation-case-capital-receipt-TAXSCAN.jpg "Hardship Allowance Received by Assessee from Developer as ‘compensation Towards Displacement is not a ‘revenue receipt’: ITAT [Read Order]")
![ITAT Deems Labor Charges Genuine as Contractor Retracts Admission of False Payments, Quashes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Appellate-Tribunal-ITAT-mumbai-Disallowance-Quashes-Disallowance-Labor-Charges-TAXSCAN.webp "ITAT Deems Labor Charges Genuine as Contractor Retracts Admission of False Payments, Quashes Disallowance [Read Order]")
![Failure to Refer Valuation of Land to DVO after Satisfying Conditions of S. 50C(2) of Income Tax Act: ITAT directs De Novo Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-Mumbai-ITAT-ruling-on-land-valuation-de-novo-process-TAXSCAN.jpg "Failure to Refer Valuation of Land to DVO after Satisfying Conditions of S. 50C(2) of Income Tax Act: ITAT directs De Novo Adjudication [Read Order]")
Mere Submission of Documents Insufficient u/s 263, Proper Inquiry and Verification by AO Essential for Valid Assessment: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Authority ( ITAT ) ruled that the mere submission of documents was not sufficient under Section 263 of the Income Tax Act, 1961. The tribunal emphasized that...
![Mere Submission of Documents Insufficient u/s 263, Proper Inquiry and Verification by AO Essential for Valid Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Mumbai-AO-Assessment-Documents-Insufficient-Income-Tax-Taxscan.jpg "Mere Submission of Documents Insufficient u/s 263, Proper Inquiry and Verification by AO Essential for Valid Assessment: ITAT [Read Order]")
Section 14A Amendment Clarification Is Not Retrospective If It Alters Existing Law: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the amendment to Section 14A of the Income tax Act, 1961 which aimed to clarify the law, cannot be applied retrospectively if it...
![Section 14A Amendment Clarification Is Not Retrospective If It Alters Existing Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-ITAT-Law-TAXSCAN.jpeg "Section 14A Amendment Clarification Is Not Retrospective If It Alters Existing Law: ITAT [Read Order]")
![S.80P(4) of Income Tax Act only excludes Co-op Banks Functioning as Commercial Banks: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-Mumbai-Income-tax-Income-tax-act-commercial-banks-Co-operative-banks-TAXSCAN.jpg "S.80P(4) of Income Tax Act only excludes Co-op Banks Functioning as Commercial Banks: ITAT [Read Order]")
Set back to Nayara: ITAT Confirms ₹2,513 Crore Loss Disallowance, cites Inter-Corporate Deposits as Sham Due to Missing SPA and Fair Valuation [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) confirms Rs. 2513 Crore loss disallowance of the assessee Nayara Energy Ltd. The tribunal cited the lack of a Share Purchase Agreement ( SPA...
![Set back to Nayara: ITAT Confirms ₹2,513 Crore Loss Disallowance, cites Inter-Corporate Deposits as Sham Due to Missing SPA and Fair Valuation [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Mumbai-SPA-Loss-Disallowance-Disallowance-Taxscan.jpg "Set back to Nayara: ITAT Confirms ₹2,513 Crore Loss Disallowance, cites Inter-Corporate Deposits as Sham Due to Missing SPA and Fair Valuation [Read Order]")
Nationalized Banks now liable for Minimum Alternate Tax after 2012 Income Tax Amendment: ITAT [Read Order]
In a significant ruling, the Special bench of Income Tax Appellate Tribunal ( ITAT ) of Mumbai held that nationalized banks are liable for Minimum Alternate Tax ( MAT ) following amendments...
![Nationalized Banks now liable for Minimum Alternate Tax after 2012 Income Tax Amendment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Nationalized-Banks-Minimum-Alternate-Tax-ITAT-ITAT-Mumbai-Income-Tax-Income-Tax-Appellate-Tribunal-Finance-Act-taxscan.jpg "Nationalized Banks now liable for Minimum Alternate Tax after 2012 Income Tax Amendment: ITAT [Read Order]")
S. 115JB(2)(b) not Applicable to Union Bank Due to Non-Company Status under Companies Act, Despite Deeming Provision in Acquisition Act for Income Tax Purposes: ITAT [Read Order]
The Mumbai Special Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that Section 115JB of the Income Tax Act, 1961 did not apply to Union Bank of India due to Non-Company Status under the...
![S. 115JB(2)(b) not Applicable to Union Bank Due to Non-Company Status under Companies Act, Despite Deeming Provision in Acquisition Act for Income Tax Purposes: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Mumbai-Income-Tax-Income-Tax-Appellate-Tribunal-Union-Bank-Non-Company-Status-taxscan.jpg "S. 115JB(2)(b) not Applicable to Union Bank Due to Non-Company Status under Companies Act, Despite Deeming Provision in Acquisition Act for Income Tax Purposes: ITAT [Read Order]")
Relief to IDBI: ITAT Rules Bank Entitled to Full Refund Interest u/s 244A of Income Tax Act [Read Order]
In a significant relief for IDBI Bank, the Income Tax Appellate Tribunal ( ITAT ) of Mumbai ruled that the bank is entitled to the full amount of interest on its tax refund under Section 244A of the...
![Relief to IDBI: ITAT Rules Bank Entitled to Full Refund Interest u/s 244A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-ITAT-ITAT-judgment-IDBI-refund-TAXSCAN.jpg "Relief to IDBI: ITAT Rules Bank Entitled to Full Refund Interest u/s 244A of Income Tax Act [Read Order]")