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.
Continuing debit balance is not an “international transaction”
Computation of gross profit margin should be based on audited accounts and should not be a notional figure.
TPO cannot reject TP method adopted by assessee on the ground that the comparables are wrongly chosen
Brought Forward Business Loss can be set-off against dividends assessed as “income from other sources” if shares held for business
Human probability/tendency of non-cooperation by parties after business transaction is over, is required to be considered while deciding bona fide aspect of assessee in penalty matter under section 271(1)(c)
Unrealised loss on outstanding interest rate swaps would be allowable as business deduction
Brought forward business losses can be set off against the gains arising from any business or profession, though chargeable to tax under any other head of income
Bad debts allowed to share broker for amount not recovered from the client towards purchase of shares
Tax Residency Certificate should be regarded as sufficient evidence for beneficial owner
Liaison Office (LO) involved merely in purchasing activity is not a Permanent Establishment (PE)
Determination of ALP- TNM Method requires comparison of net profit margins and not operating margins of enterprises
Assessee in garb of entering hedging transaction cannot seek to enter into speculative transaction in any stocks or shares other than one held by him as inventory
Allowability of Set off of brought forward business against the profits on sale of business assets which are assessed to
Consideration paid for goodwill on acquisition of running business is eligible for depreciation
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.
