Explore the ITAT Mumbais decision favoring Bombay Society of the Salesian Sisters India, allowing the expenditure on school building repairs and property taxes as an application of income for charitable purposes.
Explore the case of Dombivali Paper Mfg. Co. challenging penalty under section 271(1)(c) for alleged bogus purchases. Detailed analysis, tribunal’s view, and legal insights provided.
Explore the case of Ramprasad Nigam vs ITO under Section 271(1)(c) for disallowed exemption claim under Section 54. The penalty is quashed based on accurate disclosure.
Explore the details of Traxit Engineers Pvt. Ltd. vs. Assessing Officer case at ITAT Mumbai, involving the dispute over concessional tax rates. ITAT directs verification of Form 10-IC for lower tax regime eligibility.
ITAT Mumbai held in Supertech Construction Company Vs ACIT that penalty notice lacked clarity on grounds for penalty & penalties cannot be levied on additions made on Estimated Bogus Purchase Addition.
ITAT Mumbai held that benefit of indexation of cost of acquisition is to be given to the assessee while computing long term capital gain for the purpose of section 115JB of the Income Tax Act.
The appellant’s claim of facing technical glitches in generating Form 26A was acknowledged, leading to the tribunal directing a fresh adjudication.
ITAT Mumbai held that exemption under section 10(23D) of the Income Tax Act is available to UTI India Fund Unit Scheme 1986 as it is one of the scheme listed at sr. no. 37 in schedule II of the Repeal Act.
In the case of Crescent Chemicals Vs ITO, ITAT directs AO to restrict disallowance percentages for Business Promotion, Conveyance, and Office Maintenance expenses, providing relief to the assessee.
Deepak Novochem Technologies Ltd. Vs ACIT (ITAT Mumbai) Introduction: The appeals by Deepak Novochem Technologies Ltd. against the order of the Ld. Commissioner of Income-tax (Appeals)-50, Mumbai, for assessment years 2014-15 to 2018-19, present a complex set of issues. The primary focus revolves around the disallowance of deductions under section 35(2AB) of the Income-tax Act, […]
