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.
If assessee declares additional income, obviously the same is available for explaining either expenditure or investments made during that year
No TDS 194A on Reimbursement of Interest to Parent Company
Despite Retrospective amednment Royalty Not Taxable as DTAA prevails
Mere claim of income without any enforceable right does not result into any income
Once foreign travelling accepted for business purpose then part of amount cannot be disallowed on account of personal use unless it is established
Disallowance u/s 36(1)(iii)(proviso) applicable to extension of existing business and not to setting up altogether different or new business
Unused urban land held by assessee for industrial purposes not assessable to Wealth Tax for a period of two years from the date of acquisition
Where assessee is payee and not payer, no question of its defaulting in TDS deduction u/s 194J arises
Transfer Pricing – Disallowance of excess advertisement expense by comparing with average advertisement expense of companies is an adhoc method ¬ TNMM
Interest free loan is subject to arm’s length test irrespective of commercial expediency
Payments for purchase of Software not Royalty – ITAT Mumbai
Charitable trust is not invalid merely because settlor or Poor Relative of settlor is one of the beneficiary
S.68 If assessee fails to prove identity & credit worthiness of creditor than AO can treat the loan as income
Agent not liable for tax on income earned on behalf of principal but only for charges received for his service
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.
