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.
Amenity charges forming part of same transaction is assessable as House Property Income
No Penalty for Bonafide Mistake in original Return which was revised later
Bogus purchases: Assessee Failed to prove existence of parties, ITAT estimated net profit at 12.5%
Expenditure on improvement of existing business is revenue expense
AO cannot treat allotment letter as fake in absence of any evidence
Govt subsidy not related to any specific assets cannot be reduced from cost of asset
Compensation received for providing amenities is taxable as income from house property
Penalty for not getting accounts audited not leviable for bona fide reliance on ICAI ‘Note on Tax Audit U/s.44AB’
Addition based on mere print out from third party computer not sustainable
Commission paid to MD & working Directors is allowable expense
Capital gain from penny stocks not bogus for violation of SEBI regulations by broker
Amendment U/s. 254(2): Six month time limit for rectification is Prospective
S. 271(1)(c) Penalty notice without specifying which of two limbs are being put-up is invalid
Sec. 254(2) amendment applies to orders passed after 01/06/2016
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.
