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.
Website development expense is revenue expenditure and amount advanced for it if become unrecoverable is allowable as “Bad Debt”
Assessee covered by DTAA will be eligible for credit of State taxes u/s 91 despite DTAA not providing for the same
Consideration for giving up rights to contest the will cannot be treated as other income
Gain on sale of shares to be treated as capital gain and not business income, despite large volume of sales
Section 54EC Relief available Even If Cheque Cleared after 6 Month Limit
ITAT Mumbai Rules despite high volume and short holding period, shares gain is STCG
B/F business losses can be set off against other sources of income which are in the nature of business income, though chargeable to tax under another head of income
India–Netherlands DTAA-Mere provision of a dredger on dry lease for carrying out dredging activity in India does not result in assessee having a PE
Powers under section 254(2) cannot be exercised for reviewing a considered and conscious decision on grounds which are inherently subjective and capable of debate and discussion on adoption of one view or the other
Indo-UAE Tax Treaty- Aggregation of time spent on different projects can only arise for `connected’ projects
Penalty proceedings – Whenever an addition/disallowance is made, initial burden is upon assessee to prove that it is not his concealed income or he has not furnished inaccurate particulars of such income
Making wrong claim is not concealment or furnishing of inaccurate information
Proceedings u/s 163 are only intended to ensure that a person can be regarded as a representative assessee only on existence of certain conditions
Capital gains arising from transfer of the Development right to attract the provisions Section 50C of the Act
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.
