ITAT Mumbai

Donation to Mosque not allowable as Business Expense

M.D. Noorudin Zariwala Vs CIT (ITAT Mumbai)

M.D. Noorudin Zariwala Vs CIT (ITAT Mumbai) Disallowance of amount  paid to Mosque and debited as donation- It is evident from the letter of mosque produced by the assessee that the free lunch used to be provided by the mosque labourers/artisan etc. in that area. The facility of the assessee happened to be in vicinity […]...

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Tax on royalty from trademark of ‘brand’ Marriott’ – ITAT referred matter back to AO

Marriott International Inc C/o. Marriott Hotels India Private Limited Vs DCIT (ITAT Mumbai)

Marriott International Inc Vs DCIT (ITAT Mumbai) The only issue involved in this appeal is that income of royalty arising out of the above trademark of ‘brand’ Marriott’ is taxable in the hands of the assessee or not. Now, assessee has given a registration certificate dated 21st august, 2006 and covers above assessment years...

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Reopening on wrong assumption of facts by AO cannot be sustained

DCIT Vs R.S. Associates Commerz (ITAT Mumbai)

ITAT held that that the A.O. has ventured on a wrong assumption of facts though the agreement was available on hand with the A.O. in the original assessment proceedings. Considering the facts and circumstances are of the opinion that the reopening on the wrong assumption of facts by the assessing officer cannot be sustained....

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Legal Expenses to Defend Criminal Charges against Directors Allowable

Majestic Infracon Pvt. Ltd. Vs ACIT (ITAT Mumbai)

Majestic Infracon Pvt. Ltd. Vs ACIT (ITAT Mumbai) ITAT held that expenses incurred even for defending the directors and their relatives in criminal litigations are admissible expenses provided that are incurred in order to protect the business interest of the assessee. The undisputed facts are that the directors of the assessee company an...

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Income Tax proceedings cannot continue against corporate debtor during pendency of insolvency proceedings

DCIT Vs Uttam Galva Steel Ltd. (ITAT Mumbai)

We find that in view of Section 14 of IBC 2016 no proceedings can continue against the corporate debtor during the pendency of insolvency proceedings....

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ITAT deletes TP Adjustment as TPO adopts Wrong GP Margin of Comparable Company

B. Braun Medical (India) Private Limited Vs DCIT (ITAT Mumbai)

B. Braun Medical (India) Private Limited Vs DCIT (ITAT Mumbai) ITAT deletes Transfer Pricing (TP) Adjustment as TPO adopts Wrong Gross Profit (GP) Margin of Comparable Company The assessee raised an additional ground before the Ld. DRP stating that the gross profit margin of ADS Diagnostics Ltd., had been wrongly worked out by the Ld. [&h...

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Section 54F: Date of allotment will be treated as date of acquisition

ACIT Vs Keyur Hemant Shah (ITAT Mumbai)

ACIT Vs Keyur Hemant Shah (ITAT Mumbai) Upon perusal, the undisputed facts that emerges are that the assessee has acquired the rights in a duplex flat on 1 2th & 1 3th floor front facing the road admeasuring 1961.75 Square Feets & terrace measuring 881.5 Square Feets as per the attached layout plan along with […]...

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100% disallowance for bogus purchase cannot be done if Sales not doubted

Ashok Popatbhai Chaudhari Vs ITO (ITAT Mumbai)

Ashok Popatbhai Chaudhari Vs ITO (ITAT Mumbai) The Income Tax Officer in this case has made 100% addition on account of bogus purchase resulting in disallowance of Rs. 56,085/-. Upon assessee’s appeal ld. CIT(A) confirmed the same. It is settled law that when sales are not doubted, 100% disallowance for bogus purchase cannot be done. [&...

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Section 50C not applies to transfer of reversionary rights of property

ACIT Vs Byramjee Jeejeebhoy Pvt. Ltd. (ITAT Mumbai)

ACIT Vs Byramjee Jeejeebhoy Pvt. Ltd. (ITAT Mumbai) Revenue is aggrieved with the observation of the CIT(A) that the provisions of Sec. 50C of the Act would not stand triggered in respect of the transaction of transfer of reversionary rights of the property in question by the assessee to M/s Yash & Yashika Mercantile (P) […]...

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Expense cannot be disallowed merely based on Tax Audit Report

Kalpesh Synthetics Pvt Ltd Vs DCIT (ITAT Mumbai)

Kalpesh Synthetics Pvt Ltd Vs DCIT (ITAT Mumbai) Grievance of the assessee, as requiring our adjudication in this appeal, is that the learned CIT(A) was not justified in upholding the adjustment, made by the Centralized Processing Centre Bengaluru while processing income tax returns under section 143(1) based on certain inputs from the ta...

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