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.
Exchange loss on refund of advances from customer allowable irrespective of use of funds
Royalty payment approved by RBI under FERA, 1973 considered adequate approval as per Industrial policy of the Government of India
Non-prospecting related expenditure incurred prior to commencement of mining is deductible u/s. 37 of the Income-tax Act
Non-compete fees accrues on the appointed date of the Scheme and not in the year of approval
Transfer fee received from the incoming Members is exempt on the principles of mutuality in the case of co-operative housing societies
Addition under S. 68 cannot be made for loan taken in earlier years
In the absence of appearance on the date of hearing and absence of application for adjournment may cause the appeal dismissed
ITAT held that sale of shares by the assessee to the firm in which he is a Partner as a genuine transaction
In the absence of valid comparable data furnished by the assessee, the use of comparables comparable controlled transactions for the purposes of benchmarking controlled transactions is permissible
No depreciation allowable on BSE membership card post corporatization of BSE
No deduction of TDS u/s. 194-I on ‘Rent’ Without Control’ Over Asset
Sales tax incentive have direct nexus with the manufacturing activity, Commission paid to related parties at rates higher then unbrelated parties not allowable
Interest on Interest free loan given for business purpose cannot be disallowed – ITAT Mumbai
If quantum assessment restored to file of AO, then penalty order will not survive
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.
