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.
TDS U/s.194I not deductible on lease premium paid to acquire land on lease with substantial right
Mere transfer of unexpired contracts cannot be treated as Capital Expenditure
Only Functionally Comparable Company should be compared for applying margin percentage
Earlier year’s appellate decision could not be applied if facts of current year has changed
Discount on ESOP being in the nature of employee cost, allowed u/s 37 subject to adjustment for lapsed /unvested options
Disallowance u/s 14A while computing book profit u/s 115JB permitted, covered in explanation to Sec.115JB (2)
No review power vest with ITAT, only authorized to amend his order for mistake apparent from records u/s 254 (2)
Mark to market loss on foreign currency derivatives transaction being a non-speculation loss not covered u/s 43(5)
Penalty u/s 271E may not be imposed where circumstances compels assessee to make repayment in cash
Payment made to Independent Consultants is liable for deduction u/s 194J and not 192
Addition u/s 68 on account of share application money not justified where validity of transaction beyond doubt
Income which an assessee could have, but has not earned cannot be made taxable as income accrued
CIT to form a Prima-facie opinion w.r.t erroneous and prejudiciality of A.O.’s order for exercising jurisdiction u/s 263
Gain on Sale of Shares cannot be treated as business income for Mere Sale of Share in Short Span of time
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.
