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ITAT Mumbai

Assessment Proceedings Void Due to Invalid Draft Order

November 4, 2023 1545 Views 0 comment Print

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 […]

ITAT Upholds Addition on LTCG Under Section 50C for Unregistered Deeds

November 4, 2023 1314 Views 0 comment Print

ITAT Mumbai decision in Hari Mittar Yadav vs. ITO: Confirmation of addition on LTCG under Section 50C based on unregistered deeds entered on judicial stamp papers.

ITAT deletes Section 40A(2)(a) interest disallowance for failure to compare with FMV

November 4, 2023 1239 Views 0 comment Print

Genxt Mobile LLP wins appeal as ITAT deletes disallowance on interest payment, citing failure to compare with the fair market value under Section 40A(2)(a).

ESOP Expenditure Allowed as Revenue Expenditure; Section 14A Disallowance Cannot Exceed Exempt Income;

November 4, 2023 1086 Views 0 comment Print

DCIT vs. Dhani Services Ltd.: ITAT Mumbai upholds the deletion of disallowance under Section 14A of the Income Tax Act, along with ESOP expenditure.

When TDS Deductible, No Obligation for Interest under Section 234B: ITAT

November 4, 2023 723 Views 0 comment Print

DDIT vs. Linklaters (ITAT Mumbai): In cases where certain income qualifies for deduction, interest under Section 234B of the Income Tax Act is not applicable.

Unproved/non-genuine purchases – ITAT reduces addition from 12.5% to 6%

November 4, 2023 870 Views 0 comment Print

Read the full text of the ITAT Mumbai order in Kailash Judhistir Sahu vs. CIT, where the addition from 12.5% to 6% for inability to produce parties of bogus purchases is restricted.

Correct Application of AS-9 for advances: ITAT confirms deletion of Addition

November 1, 2023 594 Views 0 comment Print

ITAT Mumbai’s recent decision on advance income tax treatment. Explore the case between ITO and Nayak Chaudhari Construction Pvt. Ltd. and its implications.

Disallowance of net prior period expenditure debited under ‘prior period expenses’ unsustainable

October 26, 2023 10728 Views 0 comment Print

ITAT Mumbai held that disallowance of net prior period expenditure debited under the head ‘prior period expenses’ unsustainable as expenditure duly allowed in earlier years by the Tribunal.

Valuation Officer Report Required for Sale Consideration per Section 50C: ITAT Mumbai

October 26, 2023 5751 Views 0 comment Print

In the case of Bombay Samachar Pvt. Ltd Vs ACIT, ITAT Mumbai rules that valuation of sale consideration must involve a Valuation Officer as per Section 50C of the Income Tax Act.

Keyman Insurance Policy : AO Taken possible view- PCIT not justified in initiating revision proceedings

October 26, 2023 807 Views 0 comment Print

Discover the case of Drupad Menda vs PCIT, where the revision order under Section 263 for AY 2018-19 is challenged. Keyman Insurance Policy deductions in question.

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