Mumbai ITAT deletes penalty under section 271(1)(c) of the Income Tax Act on estimated quantum addition based on information from Sales Tax Department. Full text order.
Inter Publicity Pvt. Ltd. Vs DCIT (ITAT Mumbai) Introduction: The recent order from ITAT Mumbai, dated 17/10/2023, in the case of Inter Publicity Pvt. Ltd. vs. DCIT sheds light on the assessment year 2014-15. The appeal addresses concerns about additions under section 68 of the Income Tax Act related to share application money. Detailed Analysis: […]
ITAT Mumbai’s decision on assessment in the name of a deceased assessee. Analysis of the case, legal implications, and implications for legal heirs. Learn more.
ITAT Mumbai upholds addition in Osianama Learning Experience Pvt. Ltd. case under Section 56(2)(viib) of the Income Tax Act, related to excess consideration received on allotment of shares.
ITAT Mumbai held that merely because an assessee is registered u/s 80G of the Act will not automatically mean that such Trust cannot have any religious purpose and therefore cannot avail benefit of Section 115BBC(2)(b) of the Income Tax Act.
Ruskin Chemipharm vs. ACIT: ITAT Mumbai orders re-examination of disallowed interest paid to partners due to a mistake in Tax Audit Report. Detailed analysis here.
Addition under section 69A was not justified as AO had not brought on record any material in support of the addition made by him nor he provided any basis for arriving at the basis, particularly when all the 30 flats had not been sold during the year relevant to AY 2017-18, therefore, there was no basis for arriving at the conclusion that assessee had received any on-money.
In a case between Giri Bahadur and the Ward, ITAT Mumbai dismisses the appeal, upholding disallowance of late PF/ESIC contributions under Section 36(1)(va) of the Income Tax Act.
In a recent ITAT Mumbai case, the deduction of interest income under Section 80P for a cooperative housing society was upheld, clarifying eligibility for cooperative societies.
FedEx Express Transportation and Supply Chain Services (India) Private Limited Vs DCIT (ITAT Mumbai) The case of FedEx Express Transportation and Supply Chain Services (India) Private Limited Vs DCIT (ITAT Mumbai) revolves around the validity of a Transfer Pricing order, draft assessment order, and the consequent final assessment order. The key contention is whether the […]
