Explore the ITAT Mumbai’s ruling on Section 249(4)(b) in Income Tax Reassessment Proceedings. Detailed analysis of Nine Globe Industries Pvt. Ltd Vs ACIT case.
Mumbai ITAT ruled that a rectification order passed in the name of a non-existent entity, despite being aware of its merger, is invalid. Full analysis here.
Tribunal upheld the appellate order and dismissed the appeals filed by the Assessing Officer, as the assessment orders against the non-existent company were not sustainable.
In Sunil Amritlal Shah vs ITO, ITAT Mumbai ruled on Sec.54 deduction, stating possession date as relevant for under-construction property. Read the full analysis.
ITAT Mumbai confirms ₹1.45 crore short-term capital gains addition under Section 50C for land transfer, rejecting the taxpayer’s claim of purchase on behalf of a company.
ITAT Mumbai upholds Bytescale Technologies’ deduction for trading activity under Section 10AA for AY 2018-19; foreign tax credit also approved
ITAT Mumbai rules in favor of V. K. Nanavaty Share and Stock Brokers Pvt. Ltd, quashing the reopening of assessment as wholly without jurisdiction under section 148 of the Income Tax Act.
In a landmark ruling, ITAT Mumbai provides relief to Shell IT, asserting that payments for IT support aren’t considered FTS under India-Netherlands DTAA.
Assessing Officer to exclude flats already sold or for which advances were received from the stock held by the assessee. For the remaining flats held as stock in trade, the municipal ratable value should be adopted for determining the income from house property.
Whether interest retained by NBFCs on assets purchased by SBI falls under categories of interest, fees for professional/technical services, or commission/brokerage?
