Analysis of the ITAT Mumbai ruling in the case of DCIT vs. Red Hat India Pvt. Ltd. regarding revenue recognition and Accounting Standard-9 compliance.
ITAT Mumbai’s ruling on penalty for concealed income based on estimated additions. Analysis of case, legal arguments, and conclusion.
Analysis of ITAT Mumbai’s decision on the deduction allowable for warranty expenses based on actual expenses incurred. Case details and conclusion.
Read about ITAT Mumbai’s decision in BA Continuum India Private Limited Vs. ITO regarding deduction u/s 10A of Income Tax Act before set-off of business loss and depreciation.
ITAT Mumbai held that damage on account of right to sue is a capital receipt and accordingly not chargeable to tax.
ITAT Mumbai held that the amount of internal transfer between two EOUs of the assessee is to be considered for the purpose of arriving at the profit eligible for exemption under section 10B of the Income Tax Act.
ITAT Mumbai held that transfer pricing (TP) adjustment relating to intra-group services unjustified as assessee duly demonstrated objective analysis of intragroup services rendered and kind of qualitative and quantitative benefit.
Understanding the Nakoda Metal Industries Vs ITO case in ITAT Mumbai. The article elaborates on why the court validated AO’s reassessment proceedings based on external information.
ITAT Mumbai held that loss arising on settlement of contracts has to be treated as speculation loss and speculative losses are not eligible for set off against the non-speculation profit.
ITAT Mumbai held that rate of tax in case of foreign company is higher than rate of tax in case of domestic company and as per the Explanation in the Section 90, inserted in the IT Act with retrospective effect from 01-04-1962 the should not be regarded as violation of nondiscrimination clause.
