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 Addition u/s 68 of Income Tax Act when Share Application Money received from companies engaged in business of Share Trading proven with documents: ITAT
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that an addition under Section 68 of the Income Tax Act, 1961, should not be made when...
![ITAT Quashes Assessment order framed in the name of deceased assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Assessment-order-ITAT-Quashes-Assessment-order-deceased-assessee-taxscan.jpg "ITAT Quashes Assessment order framed in the name of deceased assessee [Read Order]")
![Disallowance of Claim of Write Off made in individual Entitys Financials Prior to Amalgamation cannot be added as Income in hands of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-of-claim-of-write-off-individual-entitys-financials-prior-to-amalgamation-ITAT-INCOME-TAX-INCOME-TAX-ACT-income-in-hands-Disallowance-write-off-TAXSCAN.jpg "Disallowance of Claim of Write Off made in individual Entitys Financials Prior to Amalgamation cannot be added as Income in hands of Assessee: ITAT [Read Order]")
![Payment towards Employees’ contribution on account of PF/ESIC made after due date prescribed relevant statutes attract Disallowance u/s 36(1)(va) of Income Tax Act: ITAT dismisses assesee Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Payment-towards-Employees-contribution-on-account-of-PF-ESIC-Employees-contribution-Disallowance-Income-Tax-Act-ITAT-dismisses-assesee-Appeal-taxscan.jpg "Payment towards Employees’ contribution on account of PF/ESIC made after due date prescribed relevant statutes attract Disallowance u/s 36(1)(va) of Income Tax Act: ITAT dismisses assesee Appeal [Read Order]")
Interest received by Cooperative Societies from Cooperative Banks Eligible for Deduction under Section 80P of Income Tax: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the interest received by the cooperative societies from cooperative banks is eligible for deduction under Section 80P of the...
![Interest received by Cooperative Societies from Cooperative Banks Eligible for Deduction under Section 80P of Income Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Interest-received-by-Cooperative-Societies-Cooperative-Banks-Eligible-for-Deduction-Income-Tax-ITAT-TAXSCAN.jpg "Interest received by Cooperative Societies from Cooperative Banks Eligible for Deduction under Section 80P of Income Tax: ITAT [Read Order]")
Remand of Issue to AO for Re-adjudication by PCIT without Determining Profit Declared by Assessee is Erroneous: ITAT sets aside Revision Order u/s 263 of Income Tax Act [Supreme Court]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that that the PCIT has merely remitted the issue back to the file of the AO to redo the assessment without giving a finding that the...
![Remand of Issue to AO for Re-adjudication by PCIT without Determining Profit Declared by Assessee is Erroneous: ITAT sets aside Revision Order u/s 263 of Income Tax Act [Supreme Court]](https://www.taxscan.in/wp-content/uploads/2023/10/Remand-of-Issue-to-AO-for-Re-adjudication-PCIT-Determining-Profit-Declared-by-Assessee-Erroneous-ITAT-Income-tax-Income-tax-act-Revision-Order-under-section-263-of-income-tax-act-TAXSCAN.jpg "Remand of Issue to AO for Re-adjudication by PCIT without Determining Profit Declared by Assessee is Erroneous: ITAT sets aside Revision Order u/s 263 of Income Tax Act [Supreme Court]")
ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that the Employees Stock Ownership Plan (ESOP) expenditure incurred towards raising of share capital was allowable as revenue...
![ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ESOP-ESOP-Expenditure-Share-Capital-Capital-ESOP-Expenditure-Incurred-towards-Raising-Share-Capital-Revenue-Revenue-Expenditure-ITAT-taxscan.jpg "ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]")
Amendment to section 36(1)(va) of Income Tax Act will not be applicable to Assessment Year 2017-18: ITAT allows deduction in respect of employees' contribution to PF [Read Order]
"The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that the amendment to section 36(1)(va) of the Income Tax Act, 1961, would not be applicable to assessment year 2017-2018. Therefore, the...
![Amendment to section 36(1)(va) of Income Tax Act will not be applicable to Assessment Year 2017-18: ITAT allows deduction in respect of employees contribution to PF [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Amendment-Income-Tax-Act-Income-Tax-Assessment-Year-Assessment-ITAT-taxscan.jpg "Amendment to section 36(1)(va) of Income Tax Act will not be applicable to Assessment Year 2017-18: ITAT allows deduction in respect of employees contribution to PF [Read Order]")
ITAT upholds Addition on LTCG u/s 50C based on Unregistered Deeds merely Entered in Judicial Stamp Papers [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the addition of Long-Term Capital Gain (LTCG) under Section 50C of the Income Tax Act based on the unregistered deed merely entered...
![ITAT upholds Addition on LTCG u/s 50C based on Unregistered Deeds merely Entered in Judicial Stamp Papers [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Addition-on-LTCG-Unregistered-Deeds-merely-Entered-in-Judicial-Stamp-Papers-TAXSCAN.jpg "ITAT upholds Addition on LTCG u/s 50C based on Unregistered Deeds merely Entered in Judicial Stamp Papers [Read Order]")
Comparison with Fair Market value of Loan Interest not Made while Making Disallowance u/s 40A(2)(a): ITAT Deletes Disallowance [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance holding that the comparison with fair market value of loan interest was not made while making disallowance under...
![Comparison with Fair Market value of Loan Interest not Made while Making Disallowance u/s 40A(2)(a): ITAT Deletes Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Comparison-with-Fair-Market-value-of-Loan-Interest-Fair-Market-value-Loan-Interest-ITAT-Deletes-Disallowance-income-tax-act-income-tax-Disallowance-ITAT-Fair-Market-value-of-Loan-Interest.jpg "Comparison with Fair Market value of Loan Interest not Made while Making Disallowance u/s 40A(2)(a): ITAT Deletes Disallowance [Read Order]")
Payment of Interest u/s 234B not Necessary when Certain Income Qualified for Deduction: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the payment of interest under Section 234B of the Income Tax Act 1961 was not necessary when certain income qualified for...
![Payment of Interest u/s 234B not Necessary when Certain Income Qualified for Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Payment-of-Interest-Income-Qualified-for-Deduction-Interest-Payment-ITAT-taxscan.jpg "Payment of Interest u/s 234B not Necessary when Certain Income Qualified for Deduction: ITAT [Read Order]")