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ITAT Mumbai Rules Section 48 Cannot Substitute Future Share Prices
ITAT Mumbai deletes a 97 crore capital gain addition, ruling that consideration from a later share transfer cannot be applied retrospectively.
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ITAT Mumbai Deletes Rs 30 Lakh Unexplained Money Addition Under Section 69A
ITAT Mumbai deletes a Rs 30 lakh addition under Section 69A after accepting foreign salary savings as a valid source of funds.
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ITAT Mumbai Rules Bank and Demat Verification Crucial in Penny Stock Cases
ITAT Mumbai holds that the penny stock label cannot substitute proper bank and demat verification, admitting fresh evidence under Rule 29.
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WhatsApp Chats Alone Insufficient for Income Tax Additions ITAT Mumbai
ITAT Mumbai rules that WhatsApp chats cannot solely justify tax additions under sections 69A and 69C without proper verification.
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ITAT Mumbai Rules in Favor of Assessee on Bad Debts and Interest Additions
Explore the recent ITAT Mumbai ruling that deleted cash-loan interest additions and allowed bad debts, dismissing the Revenue appeal.
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Assured-Margin Model and Double Transfer Pricing Adjustments in Income Tax
Explore how the ITAT Mumbai addressed nil valuation of real services, preventing double transfer pricing adjustments in income tax proceedings.
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MEIS Rewards Taxable as Revenue Receipts from AY 2016-17 Says ITAT Mumbai
ITAT Mumbai Special Bench rules that MEIS rewards are taxable as revenue receipts under Section 2(24)(xviii) starting from assessment year 2016-17.
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ITAT Mumbai Upholds 0.5% Corporate Guarantee Fee and Permits ESOP Deductions
Discover how the ITAT Mumbai ruling on corporate guarantee fees and ESOP deductions impacts tax disputes and transfer pricing for businesses.
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ITAT Mumbai Deletes ₹1.71 Crore Section 68 Addition on Advance Received & Refunded Through Banking Channels
Discover how ITAT Mumbai cleared a 1.71 crore tax addition under Section 68 by proving the transparency of advances refunded via banking channels.