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 provisions requires comparison of a controlled transaction with uncontrolled transaction, comparison within two controlled transaction is immaterial
Revenue expenses after setting up of business allowable despite non-commencement of business
Interest on IT Refund/ FDR, Other interest and Tender fees eligible for deduction u/s 80IA
Mere non-intimation of amendments in Trust Deed cannot lead to cancellation of registration
Reopening based on retrospective amendment after 4 years not permissible in absence of failure in disclosure of material facts by assessee
Shares held by trust for issuance to employees as ESOPs is not in nature of stock in trade, any resultant gain will be taxed as capital gains
Share of income received by University out of consultancy income earned by professors not entitled for exemption u/s 11
Assessee can claim deduction u/s 10A for remaining years although he availed deduction u/s 80HHE in past
Assessee can rebut the statement made u/s 132(4) during search on the ground that it was under pressure & mistaken belief – ITAT
Without any supporting material A.O. cannot substitute market value
Principal of Consistency should be followed on principal laid down in case of Assessee’s Sister Concern
Department should not take advantage of ignorance of assessee: ITAT
ITAT explains rules related to Valuation of closing Stock of Films
No Disallowance U/s. 14A if Assessee have sufficient Own Funds to make Investment
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.
