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.
Volume in shares not deciding factor to hold assessee trader
Large number of transactions can not be the sole criterion to treat Profit from Shares as business income
Losses arising to Foreign Institutional Investors due to cancellation of foreign exchange forward contract are capital in nature
Lending of shares cannot be construed as transfer within the definition of "transfer" giving rise to capital gains tax
Revision U/s. 263 is void if Reason not stated in show cause notice – ITAT Mumbai
Tribunal can extend stay beyond 365 days if delay not attributable to assessee
Revaluation reserve not routed through Profit and Loss Account could not be added to net profit while computing the book profit for the purpose of MAT
Transfer Pricing – ACIT vs. M/s. NGC Network (India) Pvt. Ltd.
Mumbai Tribunal holds that segmental accounts should be considered for the computation of the Profit Level Indicator
Disallowance U/s.14A can not be made for Depreciation and for deduction allowable to Assessee under chapter VIA of the Income Tax Act, 1961
Where shares are held as stock-in-trade no part of interest on borrowed funds can be disallowed u/s 14A as incurred in relation to Dividend income
Portfolio management services fees not allowed as deductions against capital gains
Mumbai ITAT rules that transfer of an undertaking under slump exchange is not liable to capital gains tax
Complete diminution investment Value to be added to book profits while computing MAT
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.
