ITAT Mumbai held that receipt of Rs 37 crores of exempt capital gain in a non-descript listed company operated by the accommodation entry provider, who has confessed that he has provided accommodations entries to the beneficiaries, including assessee remanded back to the file of AO for further enquiry.
Explore the Shree Swami Samarth Seva Kendra vs ITO case at ITAT Mumbai. Analysis reveals the importance of Form 10 compliance for securing Section 11(2) benefits.
Read the detailed analysis of Maheshwar Niketan Co-operative Housing Society Limited vs. ITO case. ITAT Mumbai grants relief for CA’s email ID failure on the Income Tax portal.
Explore the ITAT Mumbai ruling in PMI Entertainment vs ACIT case, where the death of director and CA led to filing delay appeal. Detailed analysis and insights.
Explore the legal battle of Shadawal Enterprises vs CIT in ITAT Mumbai. Analysis of unexplained expenses, eviction, and conclusion. Learn about the crucial remand for a fair decision
ITAT Mumbai held that mere charging of guarantee fees for services by the assessee trust ipso facto is not sufficient to invoke the proviso to section 2(15) of the Income Tax Act, that too without establishing that the object and purpose of the assessee is profit motive.
Explore the ITAT Mumbai decision in Rekha Singh vs ITO, directing the consideration of stamp duty value on the date of allotment for Section 56(2)(vii)(b) purposes. Detailed analysis and implications.
ITAT Mumbai held that additional evidences submitted contesting that sales promotion expenses are not hit by the Medical Council Regulations. Accordingly, matter set aside for fresh examination as such additional evidences require examination at the end of AO.
ITAT Mumbai’s order on Runwal Constructions vs DCIT: Addition of notional ALV on unsold flats held as stock-in-trade deleted. Detailed analysis and outcome provided.
While calculating eligible limit of 1000 sq. ft. for deciding allowbility of section 80IB(10) deduction, floor bed area, which is open to sky and not covered by any sides and outside balcony area, which is below floor level cannot form part of constructed area of flat.
