The Income Tax Appellate Tribunal (ITAT) Mumbai has remanded an appeal by Sumatinath Builders back to the Commissioner of Income Tax (Appeals) after finding the initial ex-parte order was issued without proper notice to the assessee.
ITAT Mumbai rules that Gemological Research (Thailand) has no PE in India; diamond grading services not taxable under India-Thailand DTAA.
Dassault Systemes SolidWorks Corporation Vs ACIT (ITAT Mumbai) DTAA Overrides Domestic Law – Tribunal Quashes Royalty Addition on ₹151.83 Cr Software Sales; ITAT Mumbai: Sale of Shrink-Wrapped Software Not Taxable as Royalty – Relief to Dassault SolidWorks Background Assessee, a US tax resident, develops & markets 3D mechanical design software. Entered into distribution agreements with Indian […]
ITAT Mumbai deletes Rs.9.87 Cr additions under Section 68 against Jamini Industries; accepts creditors’ documents, finds AO failed in proper verification.
ITAT Mumbai rules land compensation as non-taxable, upholds consistency. Salary and interest deductions allowed. Revenue barred from changing stand.
ITAT Mumbai quashes a ₹1.12 Cr. reassessment, ruling it void due to being issued against a dissolved company, an unsigned order, and for the wrong assessment year.
ITAT Mumbai held that identity, creditworthiness, and genuineness of loan from M/s Sai Traders were proved through PAN, ITRs, banking trail, interest with TDS, and full repayment. Section 68 addition of ₹1 crore was unsustainable.
ITAT Mumbai rules in favor of Ramesh Dhuri, deleting Rs.4.84L addition under Section 56(2)(x)(b)(B) due to retrospective 10% tolerance limit.
The Income Tax Appellate Tribunal (ITAT) Mumbai has invalidated the reassessment against Sunidhi Securities & Finance Limited, citing an incorrect sanctioning authority for the Section 148 notice. The case centered on a reassessment initiated for alleged bogus trading losses, which the Tribunal deemed null and void based on the judicial precedent set by the Supreme Court.
ITAT Mumbai, allowed a taxpayer’s claim for a long-term capital gains exemption, ruling that date of possession, not date of agreement, is crucial factor for Section 54 of Income Tax Act.
