ITAT Mumbai held that the claim for deduction under section 80G of the Act in respect of Corporate Social Responsibility [CSR] expenditure cannot be denied. Accordingly, deduction claimed is allowed and appeal of revenue dismissed.
Mumbai ITAT has remanded a case involving TDS on charter plane payments, instructing the tax officer to re-examine the transaction nature and payee’s tax compliance.
ITAT Mumbai slams CIT(A) for dismissing appeal without hearing, restoring Gheverchand Rikhabchand Jain’s unsecured loan addition case to AO for fresh adjudication.
ITAT Mumbai grants Goregaon Education Society tax exemption under Section 11, ruling that belated filing of Forms 9A and 10 is permissible if done before assessment, citing binding CBDT circulars.
ITAT Mumbai rules in favour of East Bridge Capital, allowing short-term capital loss set-off against gains at higher tax rates. Key precedents considered.
ITAT Mumbai upholds deletion of deemed rental income on unsold flats and Section 14A disallowance for Haware Constructions, citing judicial precedents.
ITAT Mumbai rules 10% tolerance limit under Income Tax Act’s Section 56(2)(x) applies retrospectively, cutting addition in NRB Developers’ property valuation case.
ITAT Mumbai rules employee contributions to PF/ESI are disallowed if deposited after statutory due dates, even if before ITR due date, upholding Section 36(1)(va).
ITAT Mumbai remands Gabriel India’s tax appeal over Rs. 72 lakh capital work-in-progress dispute. CIT(A) ordered to admit new evidence.
The assessee is a cooperative housing society located in Vile Parle, Mumbai and has been deriving rental income from commercial premises on the ground floor and partly in the basement. Notably, total amount of Rs. 2.40 Crores was granted by the Small Causes court as Mesne Profits to the assessee’s society.
