Assessee was a commercial bank having its head office in France and had 8 branches in India. Assessee was involved in normal banking activities including financing of foreign trade and foreign exchange transaction
Detailed analysis of ITAT Mumbai case of Parag Motilal Savla vs ITO, focusing on lack of substantial evidence for cash loan allegations.
In the case of DCIT vs. Paranjapee Schemes Construction Ltd., ITAT Mumbai rules no disallowance under Section 14A of the Income Tax Act is warranted for investments not yielding tax-free income.
Explore the ITAT Mumbai’s ruling on Section 249(4)(b) in Income Tax Reassessment Proceedings. Detailed analysis of Nine Globe Industries Pvt. Ltd Vs ACIT case.
Mumbai ITAT ruled that a rectification order passed in the name of a non-existent entity, despite being aware of its merger, is invalid. Full analysis here.
Tribunal upheld the appellate order and dismissed the appeals filed by the Assessing Officer, as the assessment orders against the non-existent company were not sustainable.
In Sunil Amritlal Shah vs ITO, ITAT Mumbai ruled on Sec.54 deduction, stating possession date as relevant for under-construction property. Read the full analysis.
ITAT Mumbai confirms ₹1.45 crore short-term capital gains addition under Section 50C for land transfer, rejecting the taxpayer’s claim of purchase on behalf of a company.
ITAT Mumbai upholds Bytescale Technologies’ deduction for trading activity under Section 10AA for AY 2018-19; foreign tax credit also approved
ITAT Mumbai rules in favor of V. K. Nanavaty Share and Stock Brokers Pvt. Ltd, quashing the reopening of assessment as wholly without jurisdiction under section 148 of the Income Tax Act.
