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The Income Tax Appellate Tribunal (ITAT) Mumbai in the recent case analyzed the petition furnished by the taxpayer against an order via the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi. From the addition of Rs 11,33,000 as undisclosed income by the Assessing Officer the dispute emerged. U/s 148 of the Income Tax […]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that the addition could not be deleted for the only cause that the section under which the addition is made is cited incorrectly and that it is essential to look into the merits of the case. The bench of Anikesh Banerjee (Judicial Member) and Padmavathy […]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) demanded re-adjudication, commenting that either Form 26AS or Form 16 is crucial to claim the Tax Deducted at Source ( TDS ) credit. The taxpayer claimed TDS amounting to Rs.10,45,439 was deducted by the employer i.e. M/s. Nirmal Lifestyle Ltd. from salary u/s […]
The claim of deduction u/s 80 IA of the Income Tax Act, 1961 expressing that the same is not available for the individuals encountered in performing work contracts has been rejected by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT). To claim deduction u/s 80IA of the Income Tax Act is the only […]
The assessment order is been cancelled by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) without recording valid satisfaction before issuing notice under Section 153C of the Income Tax Act, 1961. When a search was performed by the council the taxpayer Dilip B Patel was not searched. But an investigation was performed on […]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) directed a limitation on the addition to 0.05% of the total cash deposited in various proprietorship concerns linked to fictitious business activities. Rajendra Gokuldas Parekh, the taxpayer, deposited Rs. 765,55,253/- across these concerns. Despite receiving contracts worth Rs. 5,75,000/- from two parties, the taxpayer didn’t […]
The assessing officer who has issued a show cause notice under Section 274 read with Section 271(1)(c) of the Income Tax Act,1961 is defective/invalid since the same does not explicitly convey to the taxpayer about the certain fault/charge the taxpayer would have proceeded for impose of penalty, held by the Mumbai Bench of Income Tax […]
The Income Tax Appellate Tribunal (ITAT), the Mumbai bench has argued the Income Tax Scrutiny Assessment under section 143(3) on account of this issuance of a manual assessment directive lacking a Documentation Identification Number (DIN). The assessee, Teleperformance Global Services Pvt. Ltd. was in the business of offering IT-enabled services. The return of income was […]
The AO is directed to charge a 6.5% gross profit rate on bogus purchases by the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) in its judgement. The two-judge panel, comprised of Kuldip Singh (Judicial Member) and Gagan Goyal (Accountant Member), has noted that the AO and CIT (A) made the entire inclusion based […]
