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ITAT Mumbai

Reopening Based on Wrong Facts or assumptions is Invalid: ITAT Mumbai

July 19, 2024 663 Views 0 comment Print

Read the full text of the ITAT Mumbai order in Laxman Gore Shreshtha Vs DCIT. Analysis of reassessment based on incorrect details and implications for assessment under Income Tax Act.

Cash deposits during demonetization alone cannot justify income addition

July 18, 2024 1203 Views 0 comment Print

In the case of Anil Champalal Jain vs ITO (ITAT Mumbai), learn why Mumbai ITAT ruled that cash deposits during demonetization alone cannot justify income addition without clear evidence of accounting errors. Read the full text of the order for detailed insights.

Non-Filing of GST Return by Supplier – Assessment Reopening Validity- ITAT Mumbai Order

July 17, 2024 1257 Views 0 comment Print

Read the detailed analysis of Karrm Infrastructure Pvt. Ltd. vs. CIT at ITAT Mumbai. Learn why ITAT ruled that non-filing of GST by suppliers can’t justify reopening an assessment after 4 years.

Cancellation of registration post-donation not invalidate Section 35(1)(ii) deduction

July 15, 2024 315 Views 0 comment Print

Chemstar International Vs DCIT (ITAT Mumbai) mere suspicion or cancellation of registration post-donation not invalidate initial eligibility for Section 35(1)(ii)deduction.

ITAT deletes addition for alleged bogus long-term capital gains

July 12, 2024 1074 Views 0 comment Print

Explore the detailed ITAT Mumbai order analysis of Yogesh P. Thakkar vs DCIT, focusing on disputed long-term capital gains and commission expenditure.

Alleged bogus LTCG: ITAT deletes additions in absence of corroborative direct evidence

July 12, 2024 876 Views 0 comment Print

Read the full text of the ITAT Mumbai order in DCIT vs. Dilip B. Jiwrajka covering appeals against additions of unexplained income and commission under IT Act sections 68 & 69C for AYs 2012-13 to 2015-16.

Validity of Reopening Assessment Beyond Four-Year Limitation Period Hinges on Assessee’s Full Disclosure

July 9, 2024 1065 Views 0 comment Print

Reopening of assessment beyond four-year limitation period invalid if AO fails to establish failure on the part of Assessee to fully and truly disclose all material facts necessary for assessment.

Section 263 cannot be invoked merely due to perceived inadequate inquiry

July 9, 2024 780 Views 0 comment Print

Read about the ITAT Mumbai’s ruling in AVTIL Enterprises Ltd Vs PCIT, where the invocation of section 263 was challenged for the AY 2017-18.

ITAT follows principle of consistency; Restricts addition for Bogus Purchase to 3% 

July 9, 2024 1038 Views 0 comment Print

Explore the detailed ITAT Mumbai order on Trustar Diamonds appeal against ACIT for A.Y. 2012-13, addressing alleged bogus purchases in the diamond industry.

ITAT deletes addition made by CIT(A) without adequate justification 

July 9, 2024 507 Views 0 comment Print

Read the full text of the ITAT Mumbai order in the case of Krimesh Ramesh Divecha Vs DCIT for A.Y. 2015-16. Understand the assessment details and implications.

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