ITAT Mumbai

Employee Contributions not deposited within PF & ESIC Act Deadlines is Disallowable: ITAT

C. Doctor & Co . Pvt. Ltd Vs ACIT (ITAT Mumbai)

Explore the Mumbai ITAT's ruling on disallowing contributions to Provident Fund and ESIC if not deposited within due dates, impacting C. Doctor & Co. Pvt. Ltd....

Revisional jurisdiction u/s 263 rightly invoked as order passed without satisfying mandatory provisions of section 92CA: ITAT Mumbai

JP Morgan Chase Bank N.A J.P Morgan Tower Vs CIT (ITAT Mumbai)

ITAT Mumbai held that assessment order passed without satisfying mandatory provisions of section 92CA and CBDT instruction no. 3 of 2016 is order falling within the meaning of erroneous and prejudicial to the interest of revenue. Hence, revisional jurisdiction u/s. 263 of the Income Tax Act rightly invoked....

Transfer pricing study selecting AE as tested party duly acceptable: ITAT Mumbai

ACIT (LTU-1) Vs Glenmark Pharmaceuticals Ltd (ITAT Mumbai)

ITAT Mumbai held that assessee selecting Associated Enterprise (AE) as “tested party” justifiable. Accordingly, transfer pricing study conducted by the assessee is duly acceptable....

Issuance of Letter of Comfort to banker of AE doesn’t constitute international transaction u/s. 92B: ITAT Mumbai

Tata International Ltd. Vs ACIT (ITAT Mumbai)

ITAT Mumbai held that there is a fundamental gap between guarantee and Letter of Comfort. Guarantee is a legally enforceable; however, Letter of Comfort is not. Thus, issuing Letter of Comfort to the Bankers of AE, the assessee did not incurred any cost and hence it does not constitute international transaction under section 92B of the Ac...

Denial of exemption u/s. 54 due to mistake committed by developer unjustified: ITAT Mumbai

Mukesh Harilal Mehta Vs ITO 16(3)(1) (ITAT Mumbai)

ITAT Mumbai held that denial of exemption under section 54 of the Income Tax Act unjustified as appellant cannot be penalized for the mistake committed by the developer/seller in allocating the flat. Thus, exemption u/s. 54 granted as all the conditions satisfied....

If recipient has paid tax, no demand under section 201(1) should be enforced

Canara Bank Vs ACIT (ITAT Mumbai)

Mumbai ITAT ruling in Canara Bank vs. ACIT case clarifies TDS liability when taxpayer unaware of subsequent TDS certificate. Detailed analysis & implications....

Business restructuring entered by enterprise with associated enterprise qualifies as international transaction

Dimexon Diamonds Ltd Vs ACIT (ITAT Mumbai)

ITAT Mumbai held that business restructuring entered into by an enterprise with its associated enterprise for eliminating duplicate corporate procedures falls within the ambit of “international transaction” as defined in section 92B of the Income Tax Act....

Lack of Legal Understanding & Consultant’s Technological Limitations: ITAT denied Condonation of delay

Inderjit Singh Manchanda Vs CIT (ITAT Mumbai)

Read about the ITAT Mumbai ruling in Inderjit Singh Manchanda vs. CIT case, where the application for condonation of delay regarding penalty proceedings appeal was dismissed....

Sales value cannot be enhanced with GST without Adjusting Opening/Closing Stock and Purchases Valuation

Infinite Water Solutions Pvt. Ltd. Vs CPC (ITAT Mumbai)

ITAT Mumbai concluded that the enhancement of the value of sales without corresponding adjustments to purchases was erroneous. ...

ITAT Upholds Deletion: Service Tax Declaration Discrepancy in Form 26AS and P&L Account

ACIT Vs BBH Communications India Private Limited (ITAT Mumbai)

Read how ITAT Mumbai upheld the deletion of an addition due to discrepancies between Form 26AS and the Profit & Loss Account in the case of ACIT Vs BBH Communications India Pvt Ltd....

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