Mumbai ITAT set aside a PCIT’s u/s 263 order, ruling that allowing Section 80G deduction on CSR donations to an approved entity is a debatable issue, which cannot be revised, thereby restoring the AO’s original assessment.
ITAT Mumbai ruled AO cannot override TPO’s ALP for SDTs, allowing full Section 80IA deduction for captive power sales. Confirms Vireet on 14A/115JB.
Mumbai ITAT allowed Mahindra & Mahindra’s appeal, holding that advertisement and sales promotion expenses of ₹3.26 Cr for ‘Mahindra Parts Plazas’—which were owned and operated by distributors—were revenue in nature and deductible under Section 37(1) of Income Tax Act, rejecting AO’s capitalization.
The court held that objections regarding fraudulent transactions, round tripping, and unstamped documents were triable issues for the arbitrator, not the referral court under Section 11 of the Arbitration and Conciliation Act, 1996.
Professional analysis of Indian incentives: PLI, Green Hydrogen SIGHT, and 15% corporate tax rate. Details capital subsidy impact on DSCR and IES benefits for finance pros.
Mumbai ITAT deleted Rs.8.43 Cr addition u/s68. Assessee proved lenders’ identity, PAN, and bank transfers. Suspicion over creditworthiness cannot replace evidence.
Analysis of India’s future industries: Renewables, Semiconductors, and Fintech. Focus on market cap trends, PLI impact, unit economics, and management quality signals for investors.
GSTAT launched on 24th September 2025 offers a specialized, technology-driven forum to resolve GST disputes efficiently, ensuring consistency and predictability for taxpayers.
Bangalore ITAT restricted the s.69A unexplained cash addition for non-filer Umesh Babu to the peak credit of Rs.12.25 lakhs, rejecting the Rs.ｹ57.10 lakhs addition.
Examining high-profile Indian corporate failures: Kingfisher, IL&FS, DHFL. Analysis covers strategic overreach, fragile unit economics, ALM mismatch, and governance gaps.
