Courts: ITAT Mumbai
Find latest ITAT Mumbai judgments, orders and case laws on income tax covering assessments, transfer pricing, international taxation, capital gains, TDS, reassessment and penalties.
Revisional jurisdiction u/s 263 not invocable merely because PCIT may entertain different view
ITAT directs CIT(A) to examine if mandatory notice u/s 143(2) was issued by AO before issue of reassessment order
No violation of rule 46A as tally accounts produced before CIT(A) provided only better clarity
Addition u/s 69C merely because assessee dealt with suspected scrips is unsustainable
ITAT deletes addition for cash deposit during demonetization as appellant duly explained deposits
Addition u/s 69 based on loose papers sustained on failure to contradict facts found during search
Disallowance of short term capital loss merely based on information from investigation wing is unsustainable
Borrowing funds at higher rate & lending to director shows diversion of funds for non-business purpose
Bogus Purchases addition: ITAT restricts the same to 6.50% of such Purchase
Nothing can be added or subtracted to reasons recorded for reassessment
Proceedings u/s 263 unsustainable as enquiry already carried out by AO
Addition u/s 68 untenable as AO failed to conduct independent investigation
Re-computation of capital gains by lower value of consideration for sale of equity shares allowed
Third party cost incurred is CUP for reimbursement of expenses to AE
ITAT Mumbai judgments and orders represent an extensive body of income-tax appellate jurisprudence covering individuals, businesses, companies and other taxpayers. This TaxGuru page brings together decisions relating to assessments, additions, deductions, exemptions, business income, capital gains, transfer pricing, international taxation, TDS, reassessment, unexplained income, penalties and procedural disputes. Chartered Accountants, advocates, companies, taxpayers and tax professionals can use this collection to research ITAT Mumbai precedents and follow important developments under the Income-tax Act. The page includes recent as well as significant earlier Tribunal decisions published on TaxGuru, providing a comprehensive reference point for direct tax case-law research and appellate practice.
