![Excess Addition u/s 56(2)(vii)(b) on Jointly Purchased Property: ITAT Restricts It to 50% and Partly Allows Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/10/23/500x300_2099244-excess-addition-jointly-purchased-property-itat-partly-appeal-taxscan.webp "Excess Addition u/s 56(2)(vii)(b) on Jointly Purchased Property: ITAT Restricts It to 50% and Partly Allows Appeal [Read Order]")
Excess Addition u/s 56(2)(vii)(b) on Jointly Purchased Property: ITAT Restricts It to 50% and Partly Allows Appeal [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) partly allowed the appeal of the assessee, restricting the addition under section...
![Sale of Trust Property to Trustee Below Market Value: ITAT Grants S.11 Exemption after Full Payment [Read Order]](https://images.taxscan.in/h-upload/2025/10/04/250x150_2093773-sale-trust-property-trustee-market-value-itat-taxscan.webp "Sale of Trust Property to Trustee Below Market Value: ITAT Grants S.11 Exemption after Full Payment [Read Order]")
![Explanation 2 to S. 263 Doesn’t Give Unfettered Revision Powers: ITAT Quashes PCIT’s Order [Read Order]](https://images.taxscan.in/h-upload/2025/06/05/250x150_2041338-itat-itat-jaipur-2-to-s-263-itat-taxscan.webp "Explanation 2 to S. 263 Doesn’t Give Unfettered Revision Powers: ITAT Quashes PCIT’s Order [Read Order]")
![AO computes Net STCG for Non-STT: ITAT Allows Set-Off Against Non-STT Gains for US Resident [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/06/short-term-capital-gain.jpg "AO computes Net STCG for Non-STT: ITAT Allows Set-Off Against Non-STT Gains for US Resident [Read Order]")
![Advances given in Return for an Advantage by the Shareholder is not Dividend u/s 2(22)(e): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/ITAT-ITAT-Mumbai-Shareholder-advantage-and-dividend-TAXSCAN.jpeg "Advances given in Return for an Advantage by the Shareholder is not Dividend u/s 2(22)(e): ITAT [Read Order]")
Proper compliance on part of Assessee during Assessment Stage: ITAT Remands Case for Denovo Adjudication [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) remanded the case of fresh adjudication after noting the assessee’s compliance. In this case, the assessee, Udayal Hiralal Jain, had...
![Proper compliance on part of Assessee during Assessment Stage: ITAT Remands Case for Denovo Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/part-of-Assessee-Assessee-during-Assessment-Stage-Assessment-Stage-ITAT-ITAT-Remands-Case-Remands-Case-Remands-Case-for-Denovo-Adjudication-taxscan.jpg "Proper compliance on part of Assessee during Assessment Stage: ITAT Remands Case for Denovo Adjudication [Read Order]")
![Denial of Expense Deductions due to Lack of Supporting Documents: ITAT Sets Aside Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Documents.jpg "Denial of Expense Deductions due to Lack of Supporting Documents: ITAT Sets Aside Order [Read Order]")
ITAT rules Capital Gains from Trademark Sale by Johnson & Johnson as Long-Term, Stating Non-Eligibility for Depreciation u/s 50 [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal(ITAT)ruled that the capital gains from the sale of trademarks "Coldarin" and "Raricap" by Johnson & Johnson should be treated as long-term...
![ITAT rules Capital Gains from Trademark Sale by Johnson & Johnson as Long-Term, Stating Non-Eligibility for Depreciation u/s 50 [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Johnson-Johnson-1.jpg "ITAT rules Capital Gains from Trademark Sale by Johnson & Johnson as Long-Term, Stating Non-Eligibility for Depreciation u/s 50 [Read Order]")
Failure to Consider Assessee's Delay Condonation Request u/s 249(3): ITAT Remands Case to CIT(A) [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal set aside the order of the Commissioner of Income Tax(Appeals) CIT(A), National Faceless Appeal Centre (NFAC) after it erroneously dismissed the...
![Failure to Consider Assessees Delay Condonation Request u/s 249(3): ITAT Remands Case to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-11.jpg "Failure to Consider Assessees Delay Condonation Request u/s 249(3): ITAT Remands Case to CIT(A) [Read Order]")
![No Trust towards Sports Trust on Foreign Expenditure: ITAT restores Registration Rejection [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Trust-towards-Sports-Trust-Sports-Trust-on-Foreign-Expenditure-Sports-Trust-Foreign-Expenditure-ITAT-Registration-Rejection-taxscan.jpg "No Trust towards Sports Trust on Foreign Expenditure: ITAT restores Registration Rejection [Read Order]")
Interest-Free Loans to Related Parties: ITAT Dismisses Assessee's Appeal, Validates PCIT's Action [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench, dismissed an appeal and upheld the order passed by the Principal Commissioner of Income Tax ( PCIT ) under Section 263 of...
![Interest-Free Loans to Related Parties: ITAT Dismisses Assessees Appeal, Validates PCITs Action [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Interest-Free-Loans-Interest-Free-Loans-to-Related-Parties-Related-Parties-ITAT-ITAT-Mumbai-taxscan.jpg "Interest-Free Loans to Related Parties: ITAT Dismisses Assessees Appeal, Validates PCITs Action [Read Order]")
ESOP expenses should not be regarded contingent or notional: ITAT allows Goldman Sachs to claim deduction u/s 37(1) [Read Order]
In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) allowed Goldman Sachs to claim deduction under Section 37(1) of the Income Tax Act 1961 and held that ESOP expenses...
![ESOP expenses should not be regarded contingent or notional: ITAT allows Goldman Sachs to claim deduction u/s 37(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-ESOP-expense-Section-371-of-Income-Tax-Act-taxscan.jpg "ESOP expenses should not be regarded contingent or notional: ITAT allows Goldman Sachs to claim deduction u/s 37(1) [Read Order]")