ITAT Mumbai Judgments, Orders & News | Income Tax Appellate Tribunal

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Explore the latest ITAT Mumbai judgments, orders, and appellate decisions on direct tax matters from the Mumbai bench of the Income Tax Appellate Tribunal

Maintenance Charges Recognised Over Service Period, Not Fully in Year of Receipt: ITAT [Read Order]

Sandhra Suresh

The Income Tax Appellate Tribunal ( ITAT ) Mumbai held that annual maintenance charges collected by Sterling Holiday Resorts Ltd. from its vacation...

Beneficiary Cannot Be Taxed Again when Trust already Paid Tax on Income: ITAT Deletes ₹1.24 Cr....

Business Loss Claim was Properly Examined during Income Tax Original Assessment: ITAT Quashes...

Circular Trading Established: ITAT Restricts Additions in Alleged Bogus Purchase Case as No Cash...

Under-Invoicing Allegation Lacks Proof: ITAT Removes Cash Addition against Indo Count Industries u/s...

Rule 46A Error Warrants Re-Verification in Penny Stock Transactions Case: ITAT Puts Commission-Agent Defence Under Scanner [Read Order]

The Income Tax Appellate Tribunal, Mumbai (ITAT) ruled that the deletion of the addition relating to alleged unexplained investment arising from penny stock transactions cannot be sustained, as the...

Wrongful Assessment on Non-Existent Entity Invalid: ITAT Drops Section 69A Additions [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) deleted additions made on account of cash deposits treated as unexplained under Section 69A of the Income Tax Act, 1961, holding that...

ESOP Cost Rightly Allowed as Business Expenditure: ITAT Sets Aside PCIT Order against Nuvama Wealth after Finding Proper AO Inquiry [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has set aside the revisional order passed by the Principal Commissioner of Income Tax (PCIT) under section 263 of the Income Tax Act,1961,...

Capital Market Transactions through Banking Channels Accepted as Genuine: ITAT Deletes Additions on Share Transactions under Income Tax Act

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that capital market transactions executed through registered intermediaries and verifiable banking channels cannot be...

Relief to Sacred Heart Church u/s 11: ITAT rules Form 10B filing Directory, Condones Delay of 39 Days Filing Form [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has granted relief to Sacred Heart Church under Section 12A/12AB of the Income Tax Act, 1961, and held that a short delay of 39 days...

ITAT Holds Bona Fide Belief and Lack of Technical Knowledge Constitute Sufficient Cause, Condones 972-Day Delay by 71-Year-Old Assessee [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has condoned a delay of 972 days in filing an appeal by Mr. Kirtikumar Champaklal Bhimani, a 71-year-old individual taxpayer and held...

Reassessment Notice beyond 3 years Requires Mandatory Approval from PCCIT: ITAT Quashes Notice against Barclays [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal of the Revenue and upheld the order of the Commissioner of Income Tax (Appeals) ( CIT(A) ) which had quashed the...

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