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

Addition on Payment of Rent and Salary by Charitable Trust: ITAT Upholds Allowance of Exemptions under Section 11 Income Tax Act [Read Order]

Varsha Chandran

The Income Tax Appellate Tribunal ( ITAT ), Mumbai upheld the exemptions under Section 11 of Income Tax Act and questioned the validity of the...

Disallowance under Income Tax Act cannot be based on Presumptions of Earning Dividend Income in...

ITAT deletes Addition of ‘On Money’ due to Lack of Information about Receipt of Money [Read Order]

Date of Allotment of Under-Construction Property cannot be Treated as “Date of Purchase”: ITAT...

Depreciation on Goodwill Acquired from Subsidiary Company by Demerger Allowed if Not Previously...

ITAT confirms Rs. 1.45 Crore Income Tax Addition as Short-Term Capital Gain in Taxpayer's Non-Agricultural Land Sale [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) confirmed an Income tax addition of Rs. 1.45 crore as short-term capital gain from the taxpayer's sale of non-agricultural land. The...

Transferees Eligible to Claim TDS Credit Even if Certificates are in Name of Amalgamated/Demerged Company: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) directed the AO to allow Tax Deducted at Source ( TDS ) credit to transferees, even if the certificates are in the name of the...

Interest Income is Assessable as Business Income: ITAT directs AO to Assess Interest Income under Head Income from Business [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) directed the Assessing officer to assess the interest income under the head "Income from Business," confirming that interest income is...

Taxpayer dies and no Legal Heirs is substituted within a Reasonable Time: ITAT dismisses Appeal [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal as the taxpayer died and no legal heirs were substituted within a reasonable time. When the present appeal was...

Taxpayer discharges Burden to prove Identity, Creditworthiness and Genuineness of Loan Creditors: ITAT deletes Income Tax Addition of 1.17Cr u/s 68 [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of 1.17 crore under Section 68 of the Income Tax Act, 1961 as the taxpayer had discharged the burden to prove...

Non-Compete Fee to be treated as Revenue Receipt from Post-Amendment to S.28 of Finance Act: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the non-competitive fee received by the assessee is treated as 'revenue receipt' in the hands of the assessee but only...

Deduction u/s 80G of Income Tax Act Allowable on CSR Expenditure: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the deduction under Section 80G of the Income Tax Act, 1961 is allowable on the expenditure in respect of corporate social...

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