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
![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]")
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...
![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]](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]](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]")
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 Tax Act, 1961 as there was no enquiry conducted by...
![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]")
Unutilized CENVAT credit requires to be included in Closing Stock Value as u/s 145 of Income Tax Act: ITAT confirms Addition [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) confirmed the addition of unutilized Central Value added Tax (CENVAT) credit, mandating its inclusion in the closing stock value as per...
![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]
The Mumbai bench Income Tax Appellate Tribunal (ITAT) held that there was no disallowance on  payment towards the Provident Fund and Employee State Insurance (ESI) made before the due date of filing...
![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]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) while making directions to recompute the Short Term Capital Gain( STCG ), held that interest cost can not be claimed as business...
![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]")