ITAT Mumbai held that proceedings u/s. 153A of the Income Tax Act is bad in law since case falls within parameters of rule 112F r.w. third proviso to section 153A, however, no certificate was issued by investigating officer even when cash was found during election period.
ITAT Mumbai held that no disallowance u/s. 14A of the Income Tax Act r.w.r. 8D(2)(ii) due to availability of sufficient interest free funds for the purpose of making investment in exempt income yielding assets.
ITAT Mumbai held that the view taken by AO was a plausible view and the same cannot be subjected to revision under Section 263 of the Act merely for the reasons that PCIT does not agree with the same. Accordingly, appeal of assessee allowed.
ITAT Mumbai remands Zarina Foundation’s case to CIT(E) after registration was rejected for an incorrect provision selected due to a portal issue, without SCN.
Mumbai ITAT quashes reassessment for Sonali Dharmendra Mhatre, ruling it time-barred under Section 149(1)(b) as the escaped income was below the Rs. 50 lakh threshold.
Mumbai ITAT rules in favor of Archana Foundation, allowing tax exemption despite 18-day filing delay, citing reasonable cause and judicial precedents.
ITAT Mumbai rules presumptive taxation under Section 44AD doesn’t bar Section 68 additions for unexplained cash credits from suspicious transactions.
Mumbai ITAT dismisses disallowance under Section 14A against Bajaj Capital Ventures, ruling no exempt income means no disallowance for expenses.
ITAT Mumbai recently ruled on the taxability of enhanced compensation received under interim court orders, clarifying Section 45(5)(b) of Income Tax Act.
Geecee Ventures Limited Vs DCIT (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT) Mumbai, in the case of Geecee Ventures Limited Vs. DCIT, has delivered a significant ruling on two key areas of income tax law: the allowance of deduction under Section 80-IA and the computation of disallowance under Section 14A. The decision, pronounced on May […]
