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.
Relevant date for allowing benefit U/s. 54 /54F
AO cannot make changes in accounts certified under Companies Act for Computing book profit
Penalty U/s 271(1)(b) cannot be imposed without giving reasonable opportunity of being heard to Assessee
Penalty u/s 271(1)( c) justified in case of deliberate false claim of exemption in ROI
Before A.Y. 2015-16 Sec. 54EC exemption limit of Rs. 50 Lakh is per year & not based on transaction
Mere Repayment of loan not escape substantial shareholder from Section 2(22) (e)
Assessment order liable to set aside, if JCIT approval is without application of mind
Income cannot be taxed as FTS in India in absence of FTS clause in DTAA
Income from property leasing for commercial exploitation is business income
Forward contract loss from hedging for foreign exchange fluctuation is allowable deduction
ITAT tone down its Remarks Against Chartered Accountants and ICAI
Gain on transfer of capital assets to wholly own subsidiary is not INCOME at all in Income Tax Act. Hence, even MAT is not applicable
S.54 Exemption on advance to builder- Non completion of construction & transfer of title
If substantial amount for new property is paid, exemption u/s 54 is available even if actual construction is not completed
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.
