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.
S. 45(3) not permit A.O. to substitute full value of consideration other than the amount recorded in the books of account of joint venture
S. 54EC Exemption allowed where investment was made after 6 months due to non-availability of bonds
Income taxed in the hand of Firm cannot be taxed in the hand of Partner
Order passed ex-parte may be refereed back to CIT(A) for fresh consideration if Assessee under the bonafide belief that he duly informed to the Income Tax Department about change in address
Addition for Gift recd not warranted if Assessee proves identity, credit-worthiness and genuineness of donor
ITAT may accept additional evidence if same goes to the root of the matter and refer the matter back to A.O.
Unless there is a findings that assessee’s investments is not business activity and the funds are not utilized for the purpose of business, disallowance u/s. 36(1)(iii) does not arise
When AO has conducted an enquiry and taken a possible view u/s 263, then CIT cannot take a different view
Gains on buying and selling of shares and mutual funds trading income or capital income – ITAT referred matter back to A.O.
Waiver of principle amount of ‘non trading term loan’ can not be taxed
S. 54EC– 6 months period to be reckoned from the end of the month in which transfer takes place
Unless a non-resident earns income from business operations carried out in India, such income cannot be deemed as accruing or arising in India
S. 80HHC -Sale value less face value of the DEPB will represent profit on transfer of DEPB
CIT(A) should admit and examine additional evidence submitted by the Assessee
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.
