![MoU and Bank Records Support Loan Deal and Repayment: ITAT Flags Gaps in AO’s Unexplained Income Investigation [Read Order]](https://images.taxscan.in/h-upload/2025/06/27/500x300_2055280-itat-itat-kolkata-income-tax-unexplained-income-case-income-tax-appellate-tribunal-taxscan-1.webp "MoU and Bank Records Support Loan Deal and Repayment: ITAT Flags Gaps in AO’s Unexplained Income Investigation [Read Order]")
MoU and Bank Records Support Loan Deal and Repayment: ITAT Flags Gaps in AO’s Unexplained Income Investigation [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has set aside the assessment order passed by the Assessing Officer (AO), which made ...
![ITAT Sets Aside CIT(A) Order, Restores Case for Fresh Adjudication due to Erroneous Declaration of Assessment Order as Void Ab-Initio [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Mumbai-CITA-Erroneous-Declaration-of-Assessment-Order-TAXSCAN.jpg "ITAT Sets Aside CIT(A) Order, Restores Case for Fresh Adjudication due to Erroneous Declaration of Assessment Order as Void Ab-Initio [Read Order]")
![Penalty u/s 271(1)(c) Unjustified on Ad-Hoc Estimated Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/TAT-ITAT-Mumbai-Penalty-Estimated-Income-Taxscan.jpg "Penalty u/s 271(1)(c) Unjustified on Ad-Hoc Estimated Income: ITAT [Read Order]")
![Failure to Verify Applicability of Vivad Se Vishwas Scheme: ITAT Remits Matter to CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Vivad-Se-Vishwas-Scheme-ITAT-Mumbai-Income-tax-Income-tax-news-Taxscan.jpg "Failure to Verify Applicability of Vivad Se Vishwas Scheme: ITAT Remits Matter to CIT(A) [Read Order]")
![ITAT rules Interest Income from Cooperative Banks Eligible for Deduction u/s 80P(2)(d) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Interest-Income-Cooperative-Banks-Eligible-Deduction-Income-Tax-Act-taxscan.jpg "ITAT rules Interest Income from Cooperative Banks Eligible for Deduction u/s 80P(2)(d) of Income Tax Act [Read Order]")
Non-Compete Fee to be treated as Revenue Receipt from Post-Amendment to S.28 of Finance Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the non-competitive fee received by the assessee is treated as 'revenue receipt' in the hands of the assessee but only...
![Non-Compete Fee to be treated as Revenue Receipt from Post-Amendment to S.28 of Finance Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-mumbai-Income-tax-appellate-tribunal-income-tax-news-Finance-act-TAXSCAN.jpg "Non-Compete Fee to be treated as Revenue Receipt from Post-Amendment to S.28 of Finance Act: ITAT [Read Order]")
No Employer-Employee Relationship Between Piramal Enterprises and Doctors to Levy FBT: ITAT deletes Addition u/s 115WB (2)(d) and S. 115WB(2)(o) [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that there exists no employer-employee relationship between Piramal Enterprises and doctors, leading to the deletion of...
![No Employer-Employee Relationship Between Piramal Enterprises and Doctors to Levy FBT: ITAT deletes Addition u/s 115WB (2)(d) and S. 115WB(2)(o) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/No-Employer-Employee-Relationship-Piramal-Enterprises-Doctors-to-Levy-FBT-ITAT-Addition-taxscan.jpg "No Employer-Employee Relationship Between Piramal Enterprises and Doctors to Levy FBT: ITAT deletes Addition u/s 115WB (2)(d) and S. 115WB(2)(o) [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]")
AO fails to consider Sale Consideration of Immovable Property as per Sale Agreement with Stamp Duty Valuation: ITAT sets aside u/s 56(2)(x) of Income Tax Act [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) set aside assessing officers decision under Section 56(2) (x) of the Income Tax Act, 1961 due to failure to consider sale consideration...
![AO fails to consider Sale Consideration of Immovable Property as per Sale Agreement with Stamp Duty Valuation: ITAT sets aside u/s 56(2)(x) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/AO-fails-Sale-Consideration-of-Immovable-Property-Sale-Agreement-Stamp-Duty-Valuation-ITAT-Income-Tax-Act-taxscan.jpg "AO fails to consider Sale Consideration of Immovable Property as per Sale Agreement with Stamp Duty Valuation: ITAT sets aside u/s 56(2)(x) of Income Tax Act [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]")
Income from fixed Deposits of co-operative banks are eligible for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]
The Mumbai bench Income Tax Appellate Tribunal ( ITAT ) held that income from the fixed deposit of cooperative banks are eligible for deduction under Section 80P(2)(d) of Income Tax Act, 1961. In...
![Income from fixed Deposits of co-operative banks are eligible for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-Fixed-Deposits-Income-Tax-Deduction-taxscan.jpg "Income from fixed Deposits of co-operative banks are eligible for Deduction u/s 80P(2)(d) of Income Tax Act: ITAT [Read Order]")
Interconnect usage charges paid to foreign Telecom Operators not Taxable in India under India-Sri Lanka DTAA: ITAT [Read Order]
In a recent ruling the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Interconnect usage charges paid to foreign Telecom Operators Not Taxable in India under India-Sri Lanka...
![Interconnect usage charges paid to foreign Telecom Operators not Taxable in India under India-Sri Lanka DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-foreign-Telecom-Operators-taxscan.jpg "Interconnect usage charges paid to foreign Telecom Operators not Taxable in India under India-Sri Lanka DTAA: ITAT [Read Order]")