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.
Short term capital gains on transfer of depreciable assets can be set-off against brought forward loss from other long term capital assets
Transfer Pricing- Low Turnover Companies can not be taken as comparable, Only operational profits to be considered for comparison
Despite Large Volume of Shares Gain is STCG under Consistency Law
Section 50C applies to immovable depreciable assets – ITAT Mumbai
Despite concealment, no penalty u/s. 271(1)(c) if book profits assessed u/s. 115JB
Disallowance u/s 14A of interest on borrowed funds was not permissible if investment in shares was made out of own funds
No Penalty for Failure to Offer Income u/s 50C
Society Redevelopment is Not Transfer and consideration not assessable in society’s hands
Inland haulage charges are in the nature of income from operations of ships in international traffic and not taxable in India per Article 8 of the India-Belgium tax treaty
Sharing of management experience and business strategies by a foreign professional cannot be termed as technical service under India-USA tax treaty
Royalty received in pursuance to agreement entered into before 1976 is not covered u/s. 115A of the Income Tax Act
TDS — Matter remitted to AO to decide whether the payments made to the parent company on account of reimbursement of expenses
Mere admission of Appeal by High Court sufficient to cancel penalty U/s. 271(1)(c) of the Income Tax Act, 1961
Business expenditure — Entitlement provided to assessee for deduction of lease rentals on windmills used for purpose of business
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.
