DCIT Vs K Raheja IT Park (Hyderabad) Ltd. (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) Mumbai dismissed appeals filed by the revenue challenging the Commissioner of Income Tax (Appeals)’s order regarding deductions claimed under Section 80IA(4)(iii) of the Income Tax Act, 1961, by K Raheja IT Park (Hyderabad) Ltd. The appeals pertained to assessment […]
Read the ITAT Mumbai’s order in DCIT vs. Infrasoft Technologies Ltd., where exemption under Section 10A of the Income Tax Act was allowed, citing judicial precedents and detailed assessment for AY 2006-07.
DCIT Vs Triton Hotels and Resorts Private Limited (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT), Mumbai, adjudicated appeals in the case of DCIT Vs Triton Hotels and Resorts Pvt. Ltd. The matter primarily pertained to unexplained expenditures assessed under Section 69C of the Income Tax Act for the assessment year (AY) 2020-21. Cross-appeals were filed […]
ITAT Mumbai overturns CIT(A)’s order, stating the appellate authority lacks power to set aside assessments. The tribunal directed the CIT(A) to re-adjudicate the case after obtaining a remand report from the Assessing Officer.
ITAT Mumbai held that that reimbursement of expenses at cost is not taxable as fees for technical services since there is no element of income attached to the transaction. Accordingly, revenue’s appeal dismissed.
ITAT Mumbai rules that cooperative societies can claim deductions under Section 80P(2)(d) for interest earned from cooperative banks, overturning prior disallowance.
ITAT Mumbai remands Rotary Charity Trust’s 80G approval case due to an inadvertent section error in Form 10AB. Matter sent back for reconsideration.
ITAT Mumbai rules that Section 50C of the Income Tax Act does not apply to tenancy right transfers, dismissing the Revenue’s appeal in ITO Vs Abdul Aziz Abdul Kadar.
ITAT Mumbai allows Hotel Deepak’s appeal, holding that a survey statement u/s 133A can’t be the sole basis for income addition when discrepancies exist and expenses are substantiated. The tribunal cites a prior similar ruling.
In the matter aforementioned ITAT deleted addition made on account of Client Code Modification after observing that assessee utilized its own funds to conduct transactions on NSEL platform and the profits from such transactions have already been offered to tax.
