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.
TP: Temporary price differentials occurring due to fluctuation in treatment charges should be ignored
Profit on Sale of Share immediately after conversion from Stock in Trade to Investment is Business Income
No Legal Bar on conversion of Stock in Trade to Investment
Penalty u/s 271(1)(c) cannot be levied in absence of intention to evade taxes & if treatment made by assessee was revenue neutral
Claim of export turnover if foreign exchange not realised in specified period u/s 80HHC tantamount to deemed concealment of income
Bogus Purchases: Addition solely based on sales-tax dept. info not sustainable
Flats to be constructed by vendee on behalf of co–owners does not constitute non–monetary consideration
Being ownership vest with lessor in leased including sale & lease back assets, depreciation u/s 32 allowed
Project Management Study expense to facilitate existing business is revenue in nature
Addition u/s 68 not sustainable where whole transaction supported by adequate & reliable evidences
Diagnostic Labs to deduct TDS on discount given to hospitals/laboratories U/s. 194H
If absence of exempt income disallowance u/s 14A not warranted
Transfer of right to carry on business by transferee carrying on business would be taxable as capital gain
Advertisement expenditure after Censor Board Certification allowable as business expenditure u/s 37
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.
