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.
AO can refer Valuation to DVO only if value declared by Assessee is less than fair market value
Electricity is good and Machinery used in its production eligible for additional depreciation U/s. 32(1)(iia)
Satisfaction is a prerequisite for initiating assessment proceedings against any other person u/s.158BD
Disclosure of different due date in filed return from that claimed in reassessment proceedings amount to non-disclosure of full facts
ITAT doubts exemption U/s. 54EC allowed by Bombay HC in Ace Builder against short-term capital gains computed u/s 50
ITAT allows Exemption u/s 54EC on short term capital gain from sale of depreciable assets
Appeal may be condoned for receipt of order by casual worker who left
AO not authorized to make additions merely on presumptions
Profit on sale of Agricultural Land cannot be taxed as Business Income for mere absence of Agricultural Activity
Discount on issue of ESOP is allowable expenditure u/s 37: ITAT
Penalty u/s 271 (1) (c) is not maintainable if charges are not specific– ITAT
AO not permitted to make additions in respect of already concluded assessments, where no adverse materials found during search
No Penalty u/s 271(1)(c) on debatable issues, estimations, change in accounting method / income Head & preponment of taxable income
Entire law on whether reopening of assessment in the absence of "fresh tangible material" is permissible reviewed
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.
