Explore the ITAT Mumbai’s order in Rajani S Iyer Vs ITO case, directing re-adjudication on Brokers’ Client Code Modification. Full text and analysis of the order provided.
Failure to produce loan transaction and shares documentation: ITAT Mumbai orders re-examination. Explore the details of Fortune Credit Capital Ltd vs DCIT case.
Explore the ITAT Mumbai order in Ankur Power Projects vs ITO. Learn why reassessment proceedings were quashed due to non-application of mind by the AO. Full text available.
ITAT Mumbai held that addition under section 68 of the Income Tax Act merely on the basis of information and statement of third party without any tangible material on record is unsustainable in law.
ITAT Mumbai held revisionary order under section 263 of the Income Tax Act to be proper and just as assessment was completed in a routine and mechanical manner without due diligence and without due application of mind.
ITAT Mumbai held that the assessee has not discharged its onus to satisfactorily prove the incurring of expenditure for running the alleged Hotel Management Business. Thus, in absence of satisfactory documentary evidence, addition u/s. 68 of entire turnover disclosed as hotel management business sustained.
Ketan Tokershi Shah Vs DCIT (ITAT Mumbai) Income belonging to firm whether disclosed or undisclosed can be taxed only in the hands of the firm and not in the hands of partner
Explore the ITAT Mumbai’s remand of Nitin Amratlal Brahmbhatt’s case against ACIT-24(3) on the assessment order under Income Tax Act. Fair opportunity of hearing mandated.
ITAT Mumbai held that CIT(A) cannot exercise the power to enhance u/s. 251(1) where AO has not dealt with the issue and has not applied his mind on the taxability or non-taxability of a specific matter. Accordingly, exercise such power by CIT(A) will be beyond his jurisdiction.
ITAT Mumbai held that revision under section 263 of the Income Tax Act unjustified as AO while allowing the exemption in the order passed under section 144 r.w.s.263 has taken a possible view upon verifying the details available on record.
