ITAT Mumbai

Section 68 addition not allowed if Source of Fund Not Doubted by AO

ITO Vs Gama Entertainment Systems Pvt. Ltd (ITAT Mumbai)

ITAT held that when source of fund is not doubted by AO then he is not justified in making addition in under section 68 ...

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In absence of documentary evidence addition for jewellery claimed as gift allowed

Spureet Kaur Negi Vs ACIT (ITAT Mumbai)

Spureet Kaur Negi Vs ACIT (ITAT Mumbai) ITAT find that jewelry has been found during the course of search from the possession of the assessee. The jewellery was inventorised. The claim of the assessee that this has been received as a gift from relatives and friends is not at all substantiated but merely remained a […]...

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Section 80IB Deduction allowed on Sale of Scrap Generated during Manufacturing

ACIT Vs Wyeth Ltd. (ITAT Mumbai)

ITAT held that deduction under Section 80IB of Income Tax Act, 1961 allowable on scrap  generated during the manufacturing process....

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In mercantile system, liability arisen in the year is allowable even if paid later

ACIT Vs Maharashtra State Electricity Transmission Company Ltd (ITAT Mumbai)

As assessee is following mercantile system of accounting, liability which has arisen during the year under consideration is allowable even though the same may have to be discharged at a future date....

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No royalty on payment for hardware supplied with software forming inseparable part

DCIT Vs Park Air Systems Ltd. (ITAT Mumbai)

Payment received by the taxpayer towards GSM system of which software was an inseparable part, which is incapable of independent use, could not be classified as payment towards Royalty...

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In absence of major infirmity or irregularity expenses cannot be doubted

Gujarat Goods Service Vs ITO (ITAT Mumbai)

It is not possible to show the veracity of many expenses, because such expenses are running, on continuous basis for each and every trip. He further held that unless any major infirmity or irregularity can be found and proved, expenses cannot be doubted....

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Settlement under Vivad Se Vishwas Scheme is possible for only one proceeding

Reliance Infrastructure Ltd. Vs ACIT (ITAT Mumbai)

CBDT Circular no. 9/2020 dated 22/04/2020, question no. 19, clearly enables the assessee to avail Vivad Se Vishwas Scheme to avail VSV only for one proceeding , even when two parallel proceedings were pending before appellate forums....

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Interest u/s 244A is receivable up to the date of issue of refund cheque

Tata Communications Payment Solutions Ltd. Vs DCIT (ITAT Mumbai)

Interest on refund amount, under section 244A of the Act, is receivable up to the date of issue of refund cheque....

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After approval of winding up proceedings, Appeal not-maintainable if liquidator not amends Form No. 36A

Osian's Connoisseurs Of Art Pvt. Ltd Vs DCIT (ITAT Mumbai)

Osian’s Connoisseurs of Art Pvt. Ltd Vs DCIT (ITAT Mumbai) ITAT held that once interim resolution professional has been appointed by the NCLT, then earlier Ld. counsel authorized by the Management of the Company has no authority to represent the case and therefore adjournment sought on his behalf was accordingly rejected. The Tribun...

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No section 271(1)(c) penalty for mere wrong claim of TDS

Gautam Hiralal Gandhi Vs DCIT (ITAT Mumbai)

The only fault of the assessee was of claiming Tax deducted at source wrongly. The learned Assessing Officer should have refused the credit of such TDS but should not have taxed interest income in the hands of the assessee. Therefore, even on the merits the penalty under section 271(1)(c) of the Act cannot be levied....

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June 2022