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
![Reopening of Assessment after 4 Year with Approval of Joint Commissioner is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Reopening-of-Assessment-Approval-of-Joint-Commissioner-is-Invalid-ITAT-TAXSCAN.jpg "Reopening of Assessment after 4 Year with Approval of Joint Commissioner is Invalid: ITAT [Read Order]")
Reopening of Assessment after 4 Year with Approval of Joint Commissioner is Invalid: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the reopening of assessment after 4 years with the approval of joint...
![Relief to Hindustan Unilever: ITAT deletes disallowance made towards foreign travel expenses of spouses of employees of company who accompanied business tour [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Relief-to-Hindustan-Unilever-ITAT-deletes-disallowance-expenses-of-spouses-of-employees-of-company-business-tour-employees-of-company-taxscan-1.jpg "Relief to Hindustan Unilever: ITAT deletes disallowance made towards foreign travel expenses of spouses of employees of company who accompanied business tour [Read Order]")
![Capital gain exemption u/s 54F shall be available if assessee purchased Property outside India prior to amendment in Finance Act, 2014: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Capital-gain-exemption-Capital-gain-assessee-purchased-Property-outside-India-purchased-Property-outside-India-amendment-in-Finance-Act-ITAT-taxscan.jpg "Capital gain exemption u/s 54F shall be available if assessee purchased Property outside India prior to amendment in Finance Act, 2014: ITAT [Read Order]")
![ITAT deletes Addition made u/s 69B of Income Tax Act towards Inflated Cost of Crane in Agreement merely to avail higher Banking Loan facility for financing of Crane [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-deletes-Addition-ITAT-Income-Tax-Act-Crane-Crane-in-Agreement-Banking-Loan-financing-of-Crane-taxscan-.jpg "ITAT deletes Addition made u/s 69B of Income Tax Act towards Inflated Cost of Crane in Agreement merely to avail higher Banking Loan facility for financing of Crane [Read Order]")
![Delayed remittance of employees’ contribution due to mis-utilization of funds: ITAT upholds disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Delayed-remittance-of-employees-contribution-delayed-remittance-employees-contribution-mis-utilization-of-funds-ITAT-upholds-disallowance-ITAT-taxscan.jpg "Delayed remittance of employees’ contribution due to mis-utilization of funds: ITAT upholds disallowance [Read Order]")
Transfer Pricing Adjustment shall not be made on account of Intra-Group Services available from AE for Manufacturing & Trading Services, if proven with Documentary Evidences: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that transfer pricing adjustment should not be made on account of Intra -Group Services available from Associate Enterprise (AE)...
![Transfer Pricing Adjustment shall not be made on account of Intra-Group Services available from AE for Manufacturing & Trading Services, if proven with Documentary Evidences: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Transfer-Pricing-Adjustment-Transfer-Pricing-Adjustment-Transfer-Pricing-Adjustment-shall-not-be-made-on-account-of-Intra-Group-Services-Intra-Group-Services-AE-taxscan.jpg "Transfer Pricing Adjustment shall not be made on account of Intra-Group Services available from AE for Manufacturing & Trading Services, if proven with Documentary Evidences: ITAT [Read Order]")
Fee paid to holding company for advisory service during course of business is allowable as deduction u/s 37 of Income Tax Act: ITAT upholds DRP decision [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that fees paid to the holding company for advisory services during the course of business is allowed as the deduction under Section 37 of...
![Fee paid to holding company for advisory service during course of business is allowable as deduction u/s 37 of Income Tax Act: ITAT upholds DRP decision [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Fee-paid-to-holding-company-dvisory-service-during-course-of-business-deduction-Income-Tax-Act-ITAT-upholds-DRP-decision-taxscan.jpg "Fee paid to holding company for advisory service during course of business is allowable as deduction u/s 37 of Income Tax Act: ITAT upholds DRP decision [Read Order]")
Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that guarantee fees paid to the holding company for loan advanced by assessee company to third party is business expediency. Therefore the...
![Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Guarantee-fee-paid-holding-company-for-loan-advanced-by-assessee-company-business-expediency-ITAT-deduction-Income-Tax-Act-taxscan.jpg "Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]")
Mere Delivery Contract provided for Delivery of Securities to the Broker is not Sufficient to Claim Loss in Stock Exchange: ITAT Allows Appeal [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that mere fact that the delivery contract provides for delivery of the securities to the broker is not sufficient and does not meet the...
![Mere Delivery Contract provided for Delivery of Securities to the Broker is not Sufficient to Claim Loss in Stock Exchange: ITAT Allows Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Mere-Delivery-Contract-Delivery-Contract-Mere-Delivery-Contract-provided-for-Delivery-of-Securities-Securities-Claim-Claim-Loss-in-Stock-Exchange-ITAT-taxscan.jpg "Mere Delivery Contract provided for Delivery of Securities to the Broker is not Sufficient to Claim Loss in Stock Exchange: ITAT Allows Appeal [Read Order]")
Gain/Loss arising out of Foreign Exchange Fluctuation is Recognised as Profit or Loss Accrued During Relevant Previous Year: ITAT reinstates Income Tax Addition [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the gain arising on account of revaluation of the outstanding forward contract as on the last of the previous year as per the...
![Gain/Loss arising out of Foreign Exchange Fluctuation is Recognised as Profit or Loss Accrued During Relevant Previous Year: ITAT reinstates Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Gain-Loss-arising-out-of-Foreign-Exchange-Fluctuation-Profit-or-Loss-Accrued-Foreign-Exchange-Fluctuation-ITAT-reinstates-Income-Tax-Addition-taxscan.jpg "Gain/Loss arising out of Foreign Exchange Fluctuation is Recognised as Profit or Loss Accrued During Relevant Previous Year: ITAT reinstates Income Tax Addition [Read Order]")
Determination of Income of assessee on certain Estimate not sufficient to constitute Concealed Income: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that determination of income of assessee on certain estimate was not sufficient to constitute concealed income. Hence, the bench deleted the...
![Determination of Income of assessee on certain Estimate not sufficient to constitute Concealed Income: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Determination-Income-assessee-Estimate-sufficient-constitute-Concealed-Income-ITAT-Penalty-TAXSCAN.jpg "Determination of Income of assessee on certain Estimate not sufficient to constitute Concealed Income: ITAT deletes Penalty [Read Order]")
Deduction Allowable on Warranty expenses of motor vehicles ascertained based on actual expenses incurred on settlement of warranty schemes in earlier years: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that deduction allowable on warranty expenses of motor vehicles was ascertained based on the actual expenses incurred on settlement of...
![Deduction Allowable on Warranty expenses of motor vehicles ascertained based on actual expenses incurred on settlement of warranty schemes in earlier years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Deduction-Warranty-expenses-motor-vehicles-ascertained-actual-expenses-settlement-warranty-schemes-ITAT-TAXSCAN.jpg "Deduction Allowable on Warranty expenses of motor vehicles ascertained based on actual expenses incurred on settlement of warranty schemes in earlier years: ITAT [Read Order]")