ITAT Mumbai rules earning nominal profit by a Sec 12A registered trust with general public utility objects doesn’t violate Sec 2(15) proviso, allowing Sec 11 exemption.
ITAT Mumbai rules Section 115JB of Income Tax Act does not apply to SBI for AY 2006-07, exempting banks from MAT provisions before 2012.
ITAT Mumbai allows pre-possession interior fit-out expenses as cost of improvement for capital gains, setting aside AO/CIT(A) disallowance.
ITAT Mumbai permits bad debt write-off without proof of irrecoverability, protecting legitimate transactions amidst NSEL issues. (159 Characters)
ITAT Mumbai held that presumptive taxation scheme under section 44AD of the Income Tax Act is duly applicable to nursing home since the assessee cannot be classified as a ‘person’ engaged in the ‘medical profession’.
ITAT Mumbai rules alternate accommodation payments not liable for TDS under Section 194IC in Nathani Parekh Constructions case.
ITAT Mumbai allows Sonal Shah’s appeal, quashing reassessment for AY 2012-13 based on borrowed satisfaction and deleting bogus LTCG addition under Sec 68.
ITAT Mumbai addressed cash deposits during demonetization and alleged bogus diamond purchases. AO relied on investigation report without cross-examination.
ITAT Mumbai removes additions under Section 69A on alleged loan in Mangeram Sharma case due to lack of evidence and retracted statement.
ITAT Mumbai rules Section 40(a)(ia) disallowance unsustainable for payments to Maharashtra Govt and unpaid liabilities, providing partial relief to Mahaonline Ltd.
