Courts: ITAT Mumbai
5,841 articlesIncome Tax
Income Tax
Penalty proceedings – Whenever an addition/disallowance is made, initial burden is upon assessee to prove that it is not his concealed income or he has not furnished inaccurate particulars of such income
Income Tax
Income Tax
Making wrong claim is not concealment or furnishing of inaccurate information
Income Tax
Income Tax
Proceedings u/s 163 are only intended to ensure that a person can be regarded as a representative assessee only on existence of certain conditions
Income Tax
Income Tax
Capital gains arising from transfer of the Development right to attract the provisions Section 50C of the Act
Income Tax
Income Tax
Continuing debit balance is not an “international transaction”
Income Tax
Income Tax
Computation of gross profit margin should be based on audited accounts and should not be a notional figure.
Income Tax
Income Tax
TPO cannot reject TP method adopted by assessee on the ground that the comparables are wrongly chosen
Income Tax
Income Tax
Brought Forward Business Loss can be set-off against dividends assessed as “income from other sources” if shares held for business
Income Tax
Income Tax
Human probability/tendency of non-cooperation by parties after business transaction is over, is required to be considered while deciding bona fide aspect of assessee in penalty matter under section 271(1)(c)
Income Tax
Income Tax
Unrealised loss on outstanding interest rate swaps would be allowable as business deduction
Income Tax
Income Tax
Brought forward business losses can be set off against the gains arising from any business or profession, though chargeable to tax under any other head of income
Income Tax
Income Tax
Bad debts allowed to share broker for amount not recovered from the client towards purchase of shares
Income Tax
Income Tax
Tax Residency Certificate should be regarded as sufficient evidence for beneficial owner
Income Tax
Income Tax
