ITAT, by going through established precedents, held that AO had not recorded any dissatisfaction with assessee’s voluntary disallowance, nor had he provided any basis for invoking Rule 8D
ITAT Mumbai removes addition in Kamal Clearing & Forwarding case, ruling that income was already declared and no evidence of money laundering was found.
ITAT Mumbai partially allows Raheja Legacy Trust’s appeal, reducing loan additions after assessing supporting documents for lender genuineness.
ITAT Mumbai remands case for fresh evaluation of Mohanlal Shikshan Sanstha’s applications under Sections 12AB & 80G due to procedural delays.
Purna Purshottam Exports Vs PCIT (Central) (ITAT Mumbai) Summary: The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled in favor of Purna Purshottam Exports, stating that the Principal Commissioner of Income Tax (PCIT) cannot invoke Section 263 of the Income Tax Act, 1961, if the Assessing Officer (AO) has already conducted a thorough […]
Claim of the assessee for deduction for education cess was on a bonafide belief that it was allowable expenditure u/s. 37(1) and hence, the same was not a case for initiation of penalty proceedings u/s. 270A.
ITAT Mumbai rules in favor of Sterling Court CHS, allowing Section 80P(2)(d) deduction on interest from cooperative banks. Read the full case summary.
ITAT Mumbai ruled in favor of Dheeraj Gaurav Heights-1 Co-op Housing Society, allowing a deduction under Section 80P(2)(d) on interest income from cooperative banks.
ITAT Mumbai ruled in favor of Blue Rose Industrial Premises Co-op. Society Ltd., allowing deduction on interest income from co-operative banks under Section 80P(2)(d).
ITAT Mumbai rules in favor of Hilla Heights Co-op, allowing deduction under Section 80P(2)(d) for interest income from co-op banks. Case law analysis included.
