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.
Sharing of net revenues consistently in controlled & uncontrolled transactions held as a valid comparable uncontrolled price
Interest on borrowings made for acquiring shares in Malaysian company alongwith controlling interest is allowable
Additional depreciation allowable qua industrial undertaking & not qua the whole business
Once tax has not been deducted and even if such tax has been paid by the deductee, Disallowance u/s.40[a][ia] can be made
Owning of Pan,filing of return, Payment through banking channel not a conclusive proof that, the gift is genuine
Amount which was never routed through or debited the profit & loss account could not be considered for the purpose of determination of book profits
Section 143(3) assessment order without AO’s signature is Void – ITAT
Disallowance by CIT(A) of expense without any specific opportunity to the assessee in the matter of rendering of services not justified
Section 147 applies both to section 143(1) as well as section 143(3) – No reopening u/s 147 in absence of ‘new material’
Depreciation allowed on intangible assets acquired on or after 1st April, 1998 – Expenditure on acquiring database cannot be claimed as revenue expenditure
Bank Guarantee Commission not liable to TDS U/s. 194H as it is is not a transaction between principal and agent
Once tax has not been deducted and even if such tax has been paid by the deductee, disallowance u/s.40[a][ia] can still be made.
Receipt of retention money by furnishing bank guarantee not chargeable to tax as it accrues only on a successful completion of a contract
Assessee cannot be held to be a trader in shares with respect to delivery basis transaction
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.
