ITAT Mumbai quashes assessment order in Welspun Global Brands Ltd Vs DCIT case. AO failed to follow Sec 144C(1) of Income Tax Act, rendering order invalid.
Learn why AJR Infra’s deduction claim under section 80IA of the Income Tax Act was rejected by ITAT Mumbai, citing its role as a works contractor for Special Purpose Vehicles (SPVs).
Regional Oilseeds Growers Co-operative Societies Union Ltd. vs JCIT: ITAT upholds jurisdiction limitation, dismissing appeal regarding assessing authority’s jurisdiction challenge under Income Tax Act.
Tribunal restored the matter of AO’s disallowance, which was deemed inconsistent with Section 115JB by directing assessee’s claim of deduction for computing book profit under Section 115JB required fresh verification in the light of the Chart furnished by assessee, which had been reproduced in the order.
Tribunal allowed a claim of Rs. 49.5 crore in the interest of Principle of Natural Justice after finding that the respective authorities failed to appreciate the amended provision of Section 36(1)(iia) of the Income Tax Act, 1961, resulting in the denial of an additional depreciation claim.
ITAT Mumbai’s decision on Kanti Thermo Equip Pvt Ltd Vs ACIT. Disallowance of expenses against rental income, share of profit, and interest income upheld.
Mumbai ITAT orders stamp duty valuation on allotment letter date for Section 56(2)(x) of Income Tax Act, setting aside CIT(A) order against Assessee.
Since the appellant hadn’t filed the appeal through the Interim Resolution Professional as required under the resolution process, the ITAT deemed the appeal not maintainable and dismissed it.
Dive into the analysis of the Great Eastern Shipping Co. Ltd. Vs ACIT case regarding the taxation of foreign exchange gain written back on cancellation of vessel construction contracts under Section 28(iv) of the Act.
In a case of Gauri Construction vs. ACIT, ITAT Mumbai sets aside CIT(A) order, allowing deductions for routine establishment expenses and loan interest for general business purposes.
