ITAT Mumbai overturns AO’s addition of Rs. 80 Lakh against mere Rs. 50,000 share capital infusion, ruling in favor of taxpayer’s proof of subscriber genuineness.
Indian Oil Employees Welfare Cooperative Society Ltd. vs ACIT (ITAT Mumbai) case discusses the eligibility of cooperative society interest income under section 80P. Read the detailed analysis and conclusion.
In Med-Link Devices Pvt Ltd vs DCIT case, ITAT directs re-adjudication as taxpayer fails to provide detailed expenditure of Rs. 35.2 lakhs claimed as business promotion expenses.
ITAT Mumbai quashes assessment order in Welspun Global Brands Ltd Vs DCIT case. AO failed to follow Sec 144C(1) of Income Tax Act, rendering order invalid.
Learn why AJR Infra’s deduction claim under section 80IA of the Income Tax Act was rejected by ITAT Mumbai, citing its role as a works contractor for Special Purpose Vehicles (SPVs).
ITAT Mumbai’s decision on Kanti Thermo Equip Pvt Ltd Vs ACIT. Disallowance of expenses against rental income, share of profit, and interest income upheld.
Mumbai ITAT orders stamp duty valuation on allotment letter date for Section 56(2)(x) of Income Tax Act, setting aside CIT(A) order against Assessee.
Since the appellant hadn’t filed the appeal through the Interim Resolution Professional as required under the resolution process, the ITAT deemed the appeal not maintainable and dismissed it.
Dive into the analysis of the Great Eastern Shipping Co. Ltd. Vs ACIT case regarding the taxation of foreign exchange gain written back on cancellation of vessel construction contracts under Section 28(iv) of the Act.
In a case of Gauri Construction vs. ACIT, ITAT Mumbai sets aside CIT(A) order, allowing deductions for routine establishment expenses and loan interest for general business purposes.
