![ITAT upholds CIT(A)s deletion of Rs. 149.29 Crores Addition, Confirming Amalgamation Exemption u/s 47(vi) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Income-Tax-Income-Tax-Act-Section-47vi-of-Income-Tax-Act-ITAT-Upholds-CITA-Deletion-Taxscan.jpg "ITAT upholds CIT(A)s deletion of Rs. 149.29 Crores Addition, Confirming Amalgamation Exemption u/s 47(vi) of Income Tax Act [Read Order]")
ITAT upholds CIT(A)'s deletion of Rs. 149.29 Crores Addition, Confirming Amalgamation Exemption u/s 47(vi) of Income Tax Act [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]’s decision to delete an addition...
![No Depreciation allowed on Toll Roads developed on BOT basis as Tangible Assets: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-BOT-Basis-Build-Operate-and-Transfer-Tangible-Assets-Toll-Roads-Toll-Roads-developed-BOT-ITAT-news-taxscan.jpg "No Depreciation allowed on Toll Roads developed on BOT basis as Tangible Assets: ITAT [Read Order]")
![PCIT fails to Assume Jurisdiction u/s 263 as Assessment order issued in Name of Non-Existent Entity: ITAT sets aside Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-PCIT-PCIT-Fails-ITAT-Sets-Jurisdiction-Assessment-order-Principal-Commissioner-of-Income-Tax-taxscan.jpg "PCIT fails to Assume Jurisdiction u/s 263 as Assessment order issued in Name of Non-Existent Entity: ITAT sets aside Order [Read Order]")
![Exemption Allowable on Sale Consideration Invested In Purchase of Property with Prior Permission of Charity Commissioner: ITAT upholds CIT (A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Exemption-Allowable-on-Sale-ITAT-ITAT-Mumbai-CIT-A-Order-Income-Tax-Appellate-Tribunal-Commissioner-of-Income-Tax-prior-permission-of-charity-TAXSCAN.jpg "Exemption Allowable on Sale Consideration Invested In Purchase of Property with Prior Permission of Charity Commissioner: ITAT upholds CIT (A) Order [Read Order]")
![Lack of Adverse observations by AO: ITAT allows long-term Capital Gain Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Itat-ao-assessing-officer-ltcg-long-term-capital-gain-exemption-ltcg-exemption-itat-allows-ltcg-exemption-itat-on-ltcg-exemption-Adverse-observations-tax-news-ltcg-news-taxscan.jpg "Lack of Adverse observations by AO: ITAT allows long-term Capital Gain Exemption [Read Order]")
Addition on Payment of Rent and Salary by Charitable Trust: ITAT Upholds Allowance of Exemptions under Section 11 Income Tax Act [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai upheld the exemptions under Section 11 of Income Tax Act and questioned the validity of the Assessing Officer’s findings in a recent appeal filed by...
![Addition on Payment of Rent and Salary by Charitable Trust: ITAT Upholds Allowance of Exemptions under Section 11 Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-mumbai-Tax-Exemption-for-Charitable-Trusts-Rent-and-Salary-Payment-Salary-Payment-by-Trust-taxscan.jpg "Addition on Payment of Rent and Salary by Charitable Trust: ITAT Upholds Allowance of Exemptions under Section 11 Income Tax Act [Read Order]")
Expenditure incurred by Asian Paints on research and Development Eligible for Deduction u/s 35 (2AB) of Income Tax Act: ITAT [Read Order]
The two member bench of the Income Tax Appellate Tribunal ( ITAT ) Mumbai has ruled that expenditure incurred by Asian Paints on research and development was eligible for deduction under Section 35 (...
![Expenditure incurred by Asian Paints on research and Development Eligible for Deduction u/s 35 (2AB) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Expenditure-Asian-Paints-research-Development-Eligible-Deduction-Income-Tax-Act-ITAT-taxscan.jpg "Expenditure incurred by Asian Paints on research and Development Eligible for Deduction u/s 35 (2AB) of Income Tax Act: ITAT [Read Order]")
Failure to Prove Genuineness of Share Purchase Transaction Claim and Creditworthiness of Invested Company: ITAT dismisses Appeal [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal due to the failure to prove the genuineness of the share purchase transaction claim and the creditworthiness of the...
![Failure to Prove Genuineness of Share Purchase Transaction Claim and Creditworthiness of Invested Company: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Genuineness-Share-Purchase-Transaction-Claim-Creditworthiness-of-Invested-Company-ITAT-dismisses-Appeal-TAXSCAN.jpg "Failure to Prove Genuineness of Share Purchase Transaction Claim and Creditworthiness of Invested Company: ITAT dismisses Appeal [Read Order]")
Failure to Prove Genuineness of Share Purchase Transaction Claim and Creditworthiness of Invested Company: ITAT dismisses Appeal [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal due to the failure to prove the genuineness of the share purchase transaction claim and the creditworthiness of the...
![Failure to Prove Genuineness of Share Purchase Transaction Claim and Creditworthiness of Invested Company: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Share-Purchase-Transaction-taxscan.jpg "Failure to Prove Genuineness of Share Purchase Transaction Claim and Creditworthiness of Invested Company: ITAT dismisses Appeal [Read Order]")
ITAT Directs Readjudication with respect to Interest paid to Related Persons and Family Members for Availing of Unsecured Loans [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) recently directed readjudication with respect to interest paid to the related persons and family members for availing of unsecured loans. ...
![ITAT Directs Readjudication with respect to Interest paid to Related Persons and Family Members for Availing of Unsecured Loans [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Readjudication-Interest-paid-Unsecured-Loans-TAXSCAN.jpg "ITAT Directs Readjudication with respect to Interest paid to Related Persons and Family Members for Availing of Unsecured Loans [Read Order]")
Taxpayer Fails to Provide Detailed Expenditure of Rs. 35.2 lakhs Claimed as Business Promotion Expenses: ITAT Directs Re-adjudication [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has directed re-adjudication as the taxpayer failed to provide detailed expenditure of Rs. 35.2 lakhs claimed as business promotion...
![Taxpayer Fails to Provide Detailed Expenditure of Rs. 35.2 lakhs Claimed as Business Promotion Expenses: ITAT Directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-ITAT-Mumbai-Income-Tax-Business-Promotion-Expenses-TAXSCAN.jpg "Taxpayer Fails to Provide Detailed Expenditure of Rs. 35.2 lakhs Claimed as Business Promotion Expenses: ITAT Directs Re-adjudication [Read Order]")
Receipts from construction of Plant and Machinery eligible for adjusting against the expenses on Capital Work in Progress: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that receipts from construction of plant and machinery are eligible for adjusting against the expenses on capital work in progress. ...
![Receipts from construction of Plant and Machinery eligible for adjusting against the expenses on Capital Work in Progress: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Receipts-from-construction-Plant-and-Machinery-expenses-Capital-Work-Progress-ITAT-TAXSCAN.jpg "Receipts from construction of Plant and Machinery eligible for adjusting against the expenses on Capital Work in Progress: ITAT [Read Order]")