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
![Carat Wise Stock Maintenance is Sufficient Compliance to Genuine Purchases in Diamond Trade :ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Carat-Wise-Stock-Maintenance-Carat-Wise-Stock-Genuine-Purchases-Diamond-Trade-Trade-ITAT-Deletes-Addition-ITAT-Addition-Taxscan.jpg "Carat Wise Stock Maintenance is Sufficient Compliance to Genuine Purchases in Diamond Trade :ITAT Deletes Addition [Read Order]")
Carat Wise Stock Maintenance is Sufficient Compliance to Genuine Purchases in Diamond Trade :ITAT Deletes Addition [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition holding carat wise stock maintenance was sufficient compliance to...
![Non-eligibility of Deduction u/s 54F of IT Act on Ground of Co-ownership more than one Residential Property: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Non-eligibility-of-deduction-IT-Act-on-ground-of-co-ownership-more-than-one-residential-property-ITAT-directs-re-adjudication-TAXSCAN.jpg "Non-eligibility of Deduction u/s 54F of IT Act on Ground of Co-ownership more than one Residential Property: ITAT directs Re-adjudication [Read Order]")
![Penalty Imposed u/s 270A of IT Act for Misreporting of Income without Application of Mind: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-IT-Act-misreporting-of-income-ITAT-directs-re-adjudication-Penalty-imposed-IT-Act-ITAT-re-adjudication-Taxscan.jpg "Penalty Imposed u/s 270A of IT Act for Misreporting of Income without Application of Mind: ITAT directs Re-adjudication [Read Order]")
![Failure to Prove Creditworthiness of Parties and Genuineness of Transaction :ITAT Upholds Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Creditworthiness-of-Parties-and-Genuineness-of-Transaction-Genuineness-of-Transaction-ITAT-Upholds-Addition-ITAT-Addition-Taxscan.jpg "Failure to Prove Creditworthiness of Parties and Genuineness of Transaction :ITAT Upholds Addition u/s 68 [Read Order]")
![Relief to Sabre Travel Network (India) : ITAT deletes Additions of Foreign Exchange Loss incurred from Marketing Services [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Sabre-Travel-Network-India-Sabre-ITAT-deletes-Additions-Foreign-Exchange-Loss-Marketing-Services-taxscan.jpg "Relief to Sabre Travel Network (India) : ITAT deletes Additions of Foreign Exchange Loss incurred from Marketing Services [Read Order]")
ITAT deletes Addition made by disallowance of Interest Expenses accrued from Investment made in Shares and Securities [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently deleted an addition made on account of disallowance of interest expenses accrued on account of investment made in...
![ITAT deletes Addition made by disallowance of Interest Expenses accrued from Investment made in Shares and Securities [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-deletes-Addition-made-by-disallowance-of-Interest-Expenses-accrued-from-Investment-made-in-Shares-and-Securities-TAXSCAN.jpg "ITAT deletes Addition made by disallowance of Interest Expenses accrued from Investment made in Shares and Securities [Read Order]")
ITAT deletes Addition of Disallowance u/s 14A of Income Tax Act on Computation of Book Profit u/s 115JB [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has recently deleted and Addition of disallowance under Section 14A of Income Tax Act 1961 while computing book profit under Section 115JB...
![ITAT deletes Addition of Disallowance u/s 14A of Income Tax Act on Computation of Book Profit u/s 115JB [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-deletes-Addition-of-DisallowanceIncome-Tax-Act-on-Computation-of-Book-Profit-TAXSCAN.jpg "ITAT deletes Addition of Disallowance u/s 14A of Income Tax Act on Computation of Book Profit u/s 115JB [Read Order]")
Penalty imposed u/s 270A of Income Tax Act on Non-Disclosure of Interest Income in ROI is valid: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the penalty imposed under Section 270A of the Income Tax Act, 1961 on grounds of non-disclosure of interest income in Return of...
![Penalty imposed u/s 270A of Income Tax Act on Non-Disclosure of Interest Income in ROI is valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Income-Tax-Act-Income-Tax-Non-Disclosure-of-Interest-Income-in-ROI-is-valid-ITAT-Income-Taxscan.jpg "Penalty imposed u/s 270A of Income Tax Act on Non-Disclosure of Interest Income in ROI is valid: ITAT [Read Order]")
Disallowance of interest component on EMI paid to Non-Banking Financial Companies u/s 40(a)(ia) of IT Act: ITAT quashes order
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) quashed the order passed by the Commissioner of Income Tax (Appeals) for the disallowance of interest component on EMI paid to non-banking...
Penalty u/s 271(1)(c) Cannot be Imposed when Income Determined on Estimate Basis: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the penalty under Section 271(1)(c) of the Income Tax Act could not be imposed when income has been determined on an estimated...
![Penalty u/s 271(1)(c) Cannot be Imposed when Income Determined on Estimate Basis: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-Income-Determined-Income-Determined-on-Estimate-Basis-Estimate-Basis-ITAT-Income-Tax-taxscan.jpg "Penalty u/s 271(1)(c) Cannot be Imposed when Income Determined on Estimate Basis: ITAT [Read Order]")
![No Reassessment u/s 147 of IT Act can be made based on a change of opinion: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Reassessment-IT-Act-ITAT-No-Reassessment-taxscan.jpg "No Reassessment u/s 147 of IT Act can be made based on a change of opinion: ITAT [Read Order]")
![Interest Income from FD is Eligible for Deduction u/s 10AA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-Income-from-FD-Interest-Income-FD-Deduction-ITAT-taxscan.jpg "Interest Income from FD is Eligible for Deduction u/s 10AA: ITAT [Read Order]")