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
![Two FMV cannot be Considered for Same Property on Particular Date: ITAT Directs DVO to Determine FMV [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Two-FMV-Same-Property-Particular-Date-ITAT-Directs-DVO-Determine-FMV-taxscan.jpg "Two FMV cannot be Considered for Same Property on Particular Date: ITAT Directs DVO to Determine FMV [Read Order]")
Two FMV cannot be Considered for Same Property on Particular Date: ITAT Directs DVO to Determine FMV [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed the Departmental Valuation Officer (DVO) to determine the Fair Market Value...
![Municipal Tax allowable as expenditure u/s 24 of Income Tax Act when Assessee paid proportionate Tax to Society: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Municipal-Tax-allowable-expenditure-Income-Tax-Act-Assessee-paid-proportionate-Tax-Society-ITAT-TAXSCAN.jpg "Municipal Tax allowable as expenditure u/s 24 of Income Tax Act when Assessee paid proportionate Tax to Society: ITAT [Read Order]")
![Failure of Assessee in submitting Information regarding Cost involved in furnishing of flats: ITAT sustains Addition made by AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-of-Assessee-submitting-Information-regarding-Cost-involved-furnishing-flats-ITAT-sustains-Addition-AO-taxscan.jpg "Failure of Assessee in submitting Information regarding Cost involved in furnishing of flats: ITAT sustains Addition made by AO [Read Order]")
ITAT deletes Penalty u/s 271B for the assessee being able to establish reasonable cause behind their failure deserves to be considered u/s 274 [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the assessee clearly deserves to be considered under Section 274 where in it is provided that if assessee is able to establish...
![ITAT deletes Penalty u/s 271B for the assessee being able to establish reasonable cause behind their failure deserves to be considered u/s 274 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deletes-Penalty-assessee-being-able-establish-reasonable-cause-behind-failure-deserves-taxscan.jpg "ITAT deletes Penalty u/s 271B for the assessee being able to establish reasonable cause behind their failure deserves to be considered u/s 274 [Read Order]")
Addition in 153A assessment of an unabated assessment can be made on the basis of incriminating material only: ITAT deletes addition [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the additions made by the Assessing Officer in both the years under consideration are not based upon any incriminating material...
![Addition in 153A assessment of an unabated assessment can be made on the basis of incriminating material only: ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-assessment-of-an-unabated-assessment-basis-of-incriminating-material-only-ITAT-deletes-addition-TAXSCAN.jpg "Addition in 153A assessment of an unabated assessment can be made on the basis of incriminating material only: ITAT deletes addition [Read Order]")
Income by way of Statutory Contribution received from recognized Stock Exchange is eligible for exemption u/s 10 (23EC) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT ) Mumbai bench held that income by way of statutory contribution received from the recognized stock exchange is eligible for exemption under Section 10 (23EC)...
![Income by way of Statutory Contribution received from recognized Stock Exchange is eligible for exemption u/s 10 (23EC) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Income-by-way-of-Statutory-Contribution-received-from-recognized-Stock-Exchange-is-eligible-for-exemption-Income-Tax-Act-ITAT-TAXSCAN.jpg "Income by way of Statutory Contribution received from recognized Stock Exchange is eligible for exemption u/s 10 (23EC) 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 exceed income while computing the income under normal...
![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]")
ITAT directs AO to Share Information of Beneficiaries of Leading Kingpins Providing Bogus Long Term Capital Gains within 90 days [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed the Assessing Officer (AO) to share information of beneficiaries of leading kingpins providing bogus long term capital gains...
![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]")
Arm's 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]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the Transfer Pricing (TP) adjustment based on adhoc estimation basis holding that the Arm’s Length Price could not be done under...
![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]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that non-attendance of summons could not be the sole reason for disallowance under Section 69C of the Income Tax Act 1961, when...
![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]")