ITAT Mumbai held that denial of Section 11 exemption does not bar consideration of deductions under Section 57(iii) after factual verification.
ITAT Mumbai remanded the case to examine whether Section 56(2)(x) applied based on the agreement date and to consider refund of excess tax paid.
Interest income earned by a foreign bank from foreign currency loans extended to Indian corporates was taxable on a gross basis. Such income could not be reduced by attributing expenditure before the concessional rate of tax was applied.
ITAT Mumbai deleted a Section 69 addition after finding documentary evidence established joint ownership, source of funds, and earlier acquisition of foreign investments.
ITAT held interest from head office and overseas branches is not taxable as payment to self, while interest from overseas banks also fell outside Section 9(1)(v)(c).
ITAT Mumbai held that TDS credit cannot be denied where the employer deducted tax but failed to deposit it. Recovery must be made from the employer, not the employee.
ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft under Section 144C.
ITAT Mumbai held that an accrued business liability supported by evidence is deductible under Section 37(1) despite future payment, while rejecting a capital receipt claim.
ITAT Mumbai quashed a Section 148 notice issued after the limitation under the first proviso to Section 149, holding the reassessment invalid for AY 2015-16.
ITAT Mumbai held that eligible CSR donations qualify for Section 80G deduction if statutory conditions are met, despite disallowance under Section 37(1).
