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
![Disallowance under Section 14A, cannot Exceed Exempt Income while Computing Income under Normal Provisions and Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Disallowance-Exempt-Income-Computing-Normal-Provisions-Income-Tax-Act-ITAT-taxscan.jpg "Disallowance under Section 14A, cannot Exceed Exempt Income while Computing Income under Normal Provisions and Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]")
Disallowance under Section 14A, cannot Exceed Exempt Income while Computing Income under Normal Provisions and Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the disallowance under Section 14A of the Income Tax Act 1961, could not...
![ITAT directs AO to Share Information of Beneficiaries of Leading Kingpins Providing Bogus Long Term Capital Gains within 90 days [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-AO-ITAT-directs-AO-Information-Beneficiaries-Beneficiaries-of-Leading-Kingpins-taxscan.jpg "ITAT directs AO to Share Information of Beneficiaries of Leading Kingpins Providing Bogus Long Term Capital Gains within 90 days [Read Order]")
![Arms Length Price cannot be Done Except under one of the Methods Prescribed u/s 92C(1)of Income Tax Act: ITAT deletes TP Adjustment based on Adhoc Estimation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Arms-Length-Price-Done-Except-Methods-Prescribed-Income-Tax-Act-ITAT-TP-Adjustment-Adhoc-Estimation-TAXSCAN.jpg "Arms Length Price cannot be Done Except under one of the Methods Prescribed u/s 92C(1)of Income Tax Act: ITAT deletes TP Adjustment based on Adhoc Estimation [Read Order]")
![Non-Attendance of Summons cannot be Sole reason for Disallowance u/s 69C of the Income Tax Act when Sufficient Evidence is Produced to Prove Genuineness of Purchases: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Non-Attendance-Summons-Disallowance-Income-Tax-Act-Sufficient-Evidence-Genuineness-Purchases-ITAT-taxscan.jpg "Non-Attendance of Summons cannot be Sole reason for Disallowance u/s 69C of the Income Tax Act when Sufficient Evidence is Produced to Prove Genuineness of Purchases: ITAT [Read Order]")
![ITAT deletes TP Adjustment by TPO towards Payment of Royalty on Technology paid to Cadbury Adams USA LLC, and Cadbury Enterprises Pte Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-TP-Adjustment-by-TPO-towards-Payment-Royalty-on-Technology-paid-to-Cadbury-Adams-USA-LLC-Cadbury-Enterprises-Pte-Ltd.jpg "ITAT deletes TP Adjustment by TPO towards Payment of Royalty on Technology paid to Cadbury Adams USA LLC, and Cadbury Enterprises Pte Ltd [Read Order]")
Addition u/s 68 due to Non-Consideration of Unsigned Reply by Assessee to Notice issued u/s 147 of Income Tax Act: ITAT directs Re-adjudication [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed re-adjudication as the addition under Section 68 of the Income Tax Act 1961 due to non-consideration of unsigned reply by...
![Addition u/s 68 due to Non-Consideration of Unsigned Reply by Assessee to Notice issued u/s 147 of Income Tax Act: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-Non-Consideration-of-Unsigned-Reply-Reply-ITAT-taxscan-1.jpg "Addition u/s 68 due to Non-Consideration of Unsigned Reply by Assessee to Notice issued u/s 147 of Income Tax Act: ITAT directs Re-adjudication [Read Order]")
Loss arising from Cancellation of Forward Contracts is Arising in Normal Course of Business: ITAT Allows Deduction in Respect of net Foreign Exchange Losses to Mondelez India Foods
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has allowed deduction in respect of net exchange losses to the Mondelez India Foods as the loss arising from the cancellation of forward...
AMP Expenditure not an International Transaction: ITAT deletes Addition against Mondelez India Foods towards Transfer Pricing Adjustment on Account of AMP Expenditure [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition against Mondelez India Foods towards the transfer pricing adjustment on account of Advertisement, Marketing and...
![AMP Expenditure not an International Transaction: ITAT deletes Addition against Mondelez India Foods towards Transfer Pricing Adjustment on Account of AMP Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/AMP-Expenditure-International-Transaction-ITAT-deletes-Addition-ITAT-Addition-Mondelez-India-Foods-taxscan-1.jpg "AMP Expenditure not an International Transaction: ITAT deletes Addition against Mondelez India Foods towards Transfer Pricing Adjustment on Account of AMP Expenditure [Read Order]")
Relief to Gemological Institute of America, Indian Subsidiary Operating Independent manner does not Constitute PE: ITAT [Read More]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has granted relief to the Gemological Institute of America, as the Indian subsidiary operating in an independent manner would not constitute a...
![Relief to Gemological Institute of America, Indian Subsidiary Operating Independent manner does not Constitute PE: ITAT [Read More]](https://www.taxscan.in/wp-content/uploads/2023/09/Relief-Gemological-Institute-America-Indian-Subsidiary-Operating-Independent-manner-Constitute-PE-ITAT-taxscan.jpg "Relief to Gemological Institute of America, Indian Subsidiary Operating Independent manner does not Constitute PE: ITAT [Read More]")
Direct Nexus between Interest Expenditure Claimed and Interest Income Earned Proved: ITAT Allows Deduction Against Expenditure on 'Income from Other Sources ' [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the interest expenditure claimed by the assessee is directly related to the interest income earned during the year under...
![Direct Nexus between Interest Expenditure Claimed and Interest Income Earned Proved: ITAT Allows Deduction Against Expenditure on Income from Other Sources [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Direct-Nexus-between-Interest-Expenditure-Claimed-Interest-Income-Earned-Proved-ITAT-Allows-Deduction-Against-Expenditure-Income-Other-Sources-taxscan.jpg "Direct Nexus between Interest Expenditure Claimed and Interest Income Earned Proved: ITAT Allows Deduction Against Expenditure on Income from Other Sources [Read Order]")
![Damage on account of Right to Sue is a Capital Receipt not chargeable to Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Damage-account-Damage-on-account-of-Right-to-Sue-is-a-Capital-Receipt-Sue-Right-Capital-Receipt-Tax-ITAT-taxscan.jpg "Damage on account of Right to Sue is a Capital Receipt not chargeable to Tax: ITAT [Read Order]")
Addition of Share Premium and Share Capital u/s 68 of Income Tax Act can't be imposed by ignoring Evidences produced by Assessee: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the addition of share premium and share capital cannot be imposed by ignoring the evidence produced by the assessee. The...
![Addition of Share Premium and Share Capital u/s 68 of Income Tax Act cant be imposed by ignoring Evidences produced by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-Share-Premium-Share-Capital-Income-Tax-Act-imposed-ignoring-Evidences-produced-Assessee-ITAT-taxscan.jpg "Addition of Share Premium and Share Capital u/s 68 of Income Tax Act cant be imposed by ignoring Evidences produced by Assessee: ITAT [Read Order]")