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
![Valuation of Sale Consideration shall be made after seeking Valuation Report from Valuation Officer as per Section 50C of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Valuation-of-Sale-Consideration-seeking-Valuation-Report-Valuation-Officer-Income-Tax-Act-ITAT-TAXSCAN.jpg "Valuation of Sale Consideration shall be made after seeking Valuation Report from Valuation Officer as per Section 50C of Income Tax Act: ITAT [Read Order]")
Valuation of Sale Consideration shall be made after seeking Valuation Report from Valuation Officer as per Section 50C of Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the valuation of the sale consideration shall be made after seeking the...
![Consideration for Transfer of Goodwill Taxable as Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Consideration-Transfer-Goodwill-Taxable-Capital-Gain-ITAT-taxscan.jpg "Consideration for Transfer of Goodwill Taxable as Capital Gain: ITAT [Read Order]")
![Proper Procedure and Application of Mind shall be made while granting Approval u/s 153D of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Proper-Procedure-and-Application-of-Mind-granting-Approval-Income-Tax-Act-ITAT-TAXSCAN.jpg "Proper Procedure and Application of Mind shall be made while granting Approval u/s 153D of Income Tax Act: ITAT [Read Order]")
![Partner should be entitled to all deductions while computing his share of profit for the salary received being considered as income from business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Partner-should-entitled-deductions-computing-profit-salary-being-considered-income-business-ITAT-TAXSCAN.jpg "Partner should be entitled to all deductions while computing his share of profit for the salary received being considered as income from business: ITAT [Read Order]")
![ITAT sets aside order of CIT(A) for prevention of any dispute arising out of applicability of Section 68 in favor of natural justice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-sets-aside-order-of-CITA-for-prevention-of-any-dispute-arising-out-of-applicability-favor-of-natural-justice-TAXSCAN-1.jpg "ITAT sets aside order of CIT(A) for prevention of any dispute arising out of applicability of Section 68 in favor of natural justice [Read Order]")
Section 13(2)(a) doesn't Authorize Revenue to Compute Notional Interest when No such Interest is charged by Trust: ITAT grants relief to Laxminarayan Mandir Trust [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) while granting relief to Laxmi Narayan mandir trust held that Section 13(2)(a) of the Income Tax Act, 1961 doesn’t authorize the revenue...
![Section 13(2)(a) doesnt Authorize Revenue to Compute Notional Interest when No such Interest is charged by Trust: ITAT grants relief to Laxminarayan Mandir Trust [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Compute-Notional-Interest-Interest-is-charged-by-Trust-ITAT-Notional-Interest-Interest-Laxminarayan-Mandir-Trust-taxscan.jpg "Section 13(2)(a) doesnt Authorize Revenue to Compute Notional Interest when No such Interest is charged by Trust: ITAT grants relief to Laxminarayan Mandir Trust [Read Order]")
No information in respect of Interest on Income Tax Refund to tax available at time of filing Return of Income: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench while deleting the penalty imposed under Section 270A Income Tax Act, 1961 observed that no information received was by assessee in respect...
![No information in respect of Interest on Income Tax Refund to tax available at time of filing Return of Income: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-information-respect-Interest-Income-Tax-Refund-tax-available-time-of-filing-Return-of-Income-ITAT-deletes-Penalty-taxscan.jpg "No information in respect of Interest on Income Tax Refund to tax available at time of filing Return of Income: ITAT deletes Penalty [Read Order]")
RPM is the most Appropriate Method in International Transactions of Celio Future Fashion pertaining to Import of Men’s Wear for Resale: ITAT directs De novo Benchmarking [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed denovo benchmarking holding that the Resale Price Method (RPM) is the most appropriate method in international transactions of...
![RPM is the most Appropriate Method in International Transactions of Celio Future Fashion pertaining to Import of Men’s Wear for Resale: ITAT directs De novo Benchmarking [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/RPM-most-Appropriate-Method-International-Transactions-Celio-Future-Fashion-pertaining-Import-of-Mens-Wear-Resale-ITAT-Directs-De-novo-Benchmarking-taxscan.jpg "RPM is the most Appropriate Method in International Transactions of Celio Future Fashion pertaining to Import of Men’s Wear for Resale: ITAT directs De novo Benchmarking [Read Order]")
ITAT directs Verification of Source Explained through Settlement before Settlement Commission for Addition u/s 69 of Income Tax Act [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed for verification of sources explained through the settlement before the settlement commission for addition under Section 69 of...
![ITAT directs Verification of Source Explained through Settlement before Settlement Commission for Addition u/s 69 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-directs-Verification-Source-Explained-Settlement-Settlement-Commission-Income-Tax-Act-taxscan-1.jpg "ITAT directs Verification of Source Explained through Settlement before Settlement Commission for Addition u/s 69 of Income Tax Act [Read Order]")
Allowability of expenditure u/s 40A(2) for the transfer pricing made in respect of specified domestic transaction not sustainable: ITAT directs Re-Adjudication [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that provisions of Section 40A (2) of the IT act governs the allowability of expenditure, thus the assessment of AO unsustainable. ...
![Allowability of expenditure u/s 40A(2) for the transfer pricing made in respect of specified domestic transaction not sustainable: ITAT directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Allowability-of-expenditure-transfer-pricing-respect-specified-domestic-transaction-sustainable-ITAT-Re-Adjudication-RAXSCAN-1.jpg "Allowability of expenditure u/s 40A(2) for the transfer pricing made in respect of specified domestic transaction not sustainable: ITAT directs Re-Adjudication [Read Order]")
Qualifying Activities under TTS is outside provisions of TP: ITAT deletes addition on account of allocation of Head Office Expenses [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench while deleting additions made towards the allocation of head office expenses held that qualifying activities under Tonnage Tax Scheme (TTS) are...
![Qualifying Activities under TTS is outside provisions of TP: ITAT deletes addition on account of allocation of Head Office Expenses [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Qualifying-Activities-TTS-outside-provisions-TP-ITAT-addition-allocation-Head-Office-Expenses-taxscan.jpg "Qualifying Activities under TTS is outside provisions of TP: ITAT deletes addition on account of allocation of Head Office Expenses [Read Order]")
No transfer pricing applicable to income from operation carried out through qualifying ships taxed under TTS: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that no transfer pricing applicable to income from operation carried out through qualifying ships taxed under Tonnage Tax Scheme(TTS). ...
![No transfer pricing applicable to income from operation carried out through qualifying ships taxed under TTS: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-transfer-pricing-applicable-income-operation-carried-qualifying-ships-taxed-under-TTS-ITAT-TAXSCAN.jpg "No transfer pricing applicable to income from operation carried out through qualifying ships taxed under TTS: ITAT [Read Order]")