Mumbai ITAT decision clarifies that no addition under Section 69 I-T Act is justified once the source of investment is proven, setting a precedent.
Mumbai ITAT reiterates Sec 50C(1) as a measure against tax evasion by undervaluing property sales, emphasizing its retrospective application.
Explore ITAT Mumbai’s interpretation on Section 80P(2)(d) deductions for Co-Op Societies on interest income from co-op banks, setting a precedent for future tax assessments.
In the case of Reliance Power Ltd vs. DCIT, Mumbai ITAT’s ruling clarifies disallowance under Section 14A of the Income Tax Act, emphasizing that investments yielding exempt income should be considered for disallowance.
In the case of Rajesh Lakhmshi Nisar Vs ITO, Mumbai ITAT admitted additional evidence, emphasizing taxpayers shouldn’t be penalized for not submitting material evidence.
Investigate the Income Tax Appellate Tribunal ruling in ITO vs. Indravadan Jain HUF & its implications for similar cases in the future. Assessing officer’s declarations on SEBI Investigation & LTCG of the assessee addressed.
ITAT Mumbai held that benefit of Article 13(4) of India Mauritius tax Treaty duly available to Mauritius registered assessee, having Tax Residency Certificate, for sale of shares which were acquired prior to 1st April 2017.
ITAT Mumbai held that in case of transfer of undertaking deduction u/s. 80IA(4) of the Income Tax Act for remaining unexpired period duly admissible to transferee when transferor and transferee should jointly intimate to the Department of Industrial Policy and Promotion.
Mumbai ITAT quashes penalty in DCIT vs Sasan Power Ltd case, ruling that furnishing inaccurate expenditure claim does not constitute inaccurate particulars of income, citing bona fide mistake.
ITAT Mumbai decides on a case involving the disallowance of Section 35-AC deduction, emphasizing the importance of tangible evidence over mere allegations.
