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.
Application of provision of section 14A r.w. Rule 8D without recording satisfaction cannot be upheld
Mere Entries found in third party books are not binding on Assessee
Statement U/s. 132(4) without any supporting material does not have any evidentiary value
Some important aspects of allowability of business claim and concealment of penalty
Review u/s 254(2) only if there is a mistake apparent from the record
Issue of ‘treatment of forfeiture of guarantee amount given for purchase of machinery’ , ‘validity of entertaining Revised claim and disallowance u/s 14A
Levy of Penalty u/s 221 by A.O. is discretionary and can be waived off if Good and sufficient reasons exists
Deduction of Depreciation as well of Capital Expenditure U/s. 11 In Case of Trusts not amounts to Double Deduction
AO cannot decide reasonableness, commercial expediency of expenditure incurred by Assessee
Profits may be recognized on sale even if Assessee follows project completion method if all risk and reward been passed on
A controlled transaction cannot be benchmarked against another controlled transaction (TP)
Omission of concluding sentence doesn’t amount to non-furnishing of reasons for reassessment
Mere declaration of supplier as ‘Hawala dealer’ by Vat Authorities not sufficient to made addition U/s. 69C
Income mistakenly offered to tax in return of income when assessed amounts to incorrect assessment of taxes
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.
