ITAT Mumbai rules in Dharmesh Jhaveri’s case: Stamp duty value at allotment date, not registration, to determine Section 56(2)(vii)(b) addition. Appeal allowed.
ITAT Mumbai restores MITC Metals case for fresh adjudication, ruling that assessment order was not void ab-initio despite ongoing corporate insolvency proceedings.
ITAT Mumbai condones a 2202-day delay in filing appeal by Palmera Co-op Housing Society. Bona fide belief in rectification under Section 154 upheld.
ITAT Mumbai sets aside CIT(A) order in Pukhraj Shreemalji vs. ITO due to lack of proof of notice service, restoring the matter for fresh adjudication.
ITAT Mumbai dismisses Revenue’s appeal against Kotak Mahindra Life Insurance, citing precedents favoring the insurer on taxation of surplus and negative reserves.
ITAT Mumbai invalidates reassessment against Shah Rukh Khan for FY 2012-13, addressing foreign tax credit claims and procedural flaws in reopening under Section 147.
ITAT Mumbai held that once the assessee is dead no valid assessment or reassessment can be made in the name of the deceased. Thus, notice issued u/s. 148 upon the deceased assessee who expired prior to issuance of notice is invalid.
ITAT Mumbai rules on Nickunj Eximp case: Disputes over bogus purchases, demonetization cash deposits, and assessment procedures.
ITAT Mumbai condones a 314-day delay in Atlantic Bio Medical Pvt. Ltd.’s appeal, citing a bona fide mistake in tax filing and a right to a fair hearing.
ITAT Mumbai held that addition under section 69 towards unexplained cash made by the AO without bringing any concrete evidence on record incriminating the assessee is not sustainable. Accordingly, addition u/s. 69 deleted.
