ITAT Mumbai held that as per section 36(1)(va) delayed payment of PF & ESIC has to be treated as income of the assessee. Hence, alternate claim of deduction of the same u/s. 37(1) of the Act is not acceptable.
ITAT Mumbai quashes reassessment against CLE Private Limited, ruling notice issued beyond TOLA’s limitation period is invalid.
ITAT Mumbai held that notice under section 148 of the Income Tax Act issued after a period of six years is barred by limitation. Accordingly, assessment proceedings under section 147 is liable to be quashed.
ITAT directed AO to verify Factory Premises rental income and compute taxability under section 57, allowing proportionate expenses related to rental income.
ITAT Mumbai rules that share transactions backed by DEMAT statements cannot be treated as bogus income without concrete proof.
ITAT Mumbai deletes penalty under Section 271(1)(c) on estimated GP additions for alleged bogus purchases in Om Sai Traders case for AY 2010-11 & 2011-12.
ITAT Mumbai restores rejection of Sports Unlimited Foundation’s 12AB and 80G registration over foreign expenditure concerns, directing fresh adjudication.
ITAT Mumbai permits Oxford University Press to withdraw appeal as it opts for the Vivad Se Vishwas Scheme 2024, with liberty to restore if necessary.
ITAT Mumbai rules in Dharmesh Jhaveri’s case: Stamp duty value at allotment date, not registration, to determine Section 56(2)(vii)(b) addition. Appeal allowed.
ITAT Mumbai restores MITC Metals case for fresh adjudication, ruling that assessment order was not void ab-initio despite ongoing corporate insolvency proceedings.
