ITAT Mumbai rules on taxation of unsold real estate inventory for Sabarmati Capital One Ltd., clarifying Section 22 applicability and AO’s jurisdiction under Section 263.
ITAT Mumbai quashes reassessment orders against Soham Estates for AY 2012-13, 2013-14, 2014-15, citing jurisdictional flaws by tax authorities.
ITAT Mumbai clarifies derivative income taxability for Mauritius fund. Rules derivatives are distinct from shares, exempting gains from Indian tax under India-Mauritius DTAA Article 13(4).
ITAT Mumbai held that addition under section 68 of the Income Tax Act cannot be sustained as assessee disclosed the source of credits. It is also held that assessee has also disclosed source of source and hence addition cannot be sustained. Accordingly, appeal allowed.
ITAT Mumbai addresses a cooperative housing society’s appeal, examining the disallowance of Section 80P deductions by CPC and clarifying the scope of permissible adjustments under Section 143(1)(a) of the Income Tax Act, 1961.
ITAT Mumbai upholds Section 68 additions as assessee failed to explain cash deposits from gold sales to undisclosed buyers and purchases from dubious supplier.
ITAT Mumbai quashes PCIT’s revision, confirming Dalal And Broacha Stock Broking’s Section 80G deduction on CSR expenses, citing judicial precedents.
Mumbai ITAT rules Sikka Ports can claim Section 80G deduction for CSR donations, rejecting ‘mandatory’ argument and upholding retrospective 14A ruling.
ITAT Mumbai allows CSR expense deductions under Section 80G, clarifying limits of Explanation 2 to Section 37(1) for AY 2015-16.
ITAT Mumbai quashes Rs. 2.23 crore tax addition on Anil Jaggi, citing invalid approval for reassessment, a key procedural lapse.
