Tag Archives: IN THE ITAT MUMBAI BENCH

Section 80G and 80JJAA Deductions Allowed; Platform Enhancement and Delayed Form 67 Procedural Defect Resolved

By | July 15, 2026
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Section 80G and 80JJAA Deductions Allowed; Platform Enhancement and Delayed Form 67 Procedural Defect Resolved Issue Whether a deduction under Section 80G can be denied solely because the underlying donation forms a part of the company’s mandatory Corporate Social Responsibility (CSR) expenditure. Whether a legitimate claim for Foreign Tax Credit (FTC) can be rejected purely… Read More »

Rectification of Procedural Defect in Form 10AB Relates Back to Timely Filed Original Application

By | July 15, 2026
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Rectification of Procedural Defect in Form 10AB Relates Back to Timely Filed Original Application Rectification of Procedural Defect in Form 10AB Relates Back to Timely Filed Original Application Issue Whether a subsequent application in Form No. 10AB, filed under the correct statutory sub-clause to rectify an inadvertent error in the original timely application, can be… Read More »

Rulings favor assessee on transfer pricing filters, unearned revenue additions, and net foreign exchange losses.

By | July 11, 2026
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Rulings favor assessee on transfer pricing filters, unearned revenue additions, and net foreign exchange losses. Issue Whether a comparable company can be excluded under the “persistent loss-making” filter if it has reported a profit in one of the preceding three financial years. Whether the Dispute Resolution Panel (DRP) should admit additional evidence to include a… Read More »

Surrender of Allotment Right in Immovable Property Constitutes Transfer of Capital Asset Generating Capital Gains

By | July 11, 2026
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Surrender of Allotment Right in Immovable Property Constitutes Transfer of Capital Asset Generating Capital Gains Issue Whether the right to obtain conveyance of an immovable property under an allotment letter constitutes a “capital asset” under Section 2(14) of the Income-tax Act, and whether compensation received upon its surrender constitutes a “transfer” under Section 2(47), making… Read More »

An allotment letter cannot substitute an agreement for sale, and joint property additions must be apportioned.

By | July 10, 2026
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An allotment letter cannot substitute an agreement for sale, and joint property additions must be apportioned. Issue Whether a preliminary builder’s allotment letter can be treated as an “agreement fixing the amount of consideration” under the first proviso to section 56(2)(x)(b)(B) to substitute the registration date’s stamp duty value, and whether the entire difference between… Read More »

Estimated circular trading commission is sustained, demonetization deposits are deleted, and standard business tax rates apply.

By | July 10, 2026
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Estimated circular trading commission is sustained, demonetization deposits are deleted, and standard business tax rates apply. Estimated circular trading commission is sustained, demonetization deposits are deleted, and standard business tax rates apply. Issue Whether estimated commission additions on circular trading are sustainable without adjustments, whether demonetization cash deposits backed by documented prior withdrawals can be… Read More »

CIT(E) cannot reject trust registration renewal by re-agitating grounds already quashed by the Tribunal.

By | July 10, 2026
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CIT(E) cannot reject trust registration renewal by re-agitating grounds already quashed by the Tribunal. CIT(E) cannot reject trust registration renewal by re-agitating grounds already quashed by the Tribunal. Issue Whether the Commissioner of Income-tax (Exemptions) [CIT(E)] is legally justified in rejecting an assessee’s application for renewal of charitable registration under section 12A(1)(ac)(ii) by reviving the… Read More »

No section 68 addition is sustainable for an alleged cash loan without any credit entry in the assessee’s books.

By | July 9, 2026
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No section 68 addition is sustainable for an alleged cash loan without any credit entry in the assessee’s books. Issue Whether an addition under section 68 of the Income-tax Act, 1961 can be legally sustained when there is no credit entry in the assessee’s books of account, and the addition is based entirely on a… Read More »

An asset transferred via a slump sale cannot be isolated and taxed again upon registration.

By | July 9, 2026
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An asset transferred via a slump sale cannot be isolated and taxed again upon registration. Issue Whether the revenue department can separately tax the subsequent registration of a conveyance deed for an immovable property under Section 50C in a later assessment year, when that specific asset was already transferred and taxed as part of a… Read More »

Telecom rulings favor assessee on TP adjustments, spectrum depreciation, and distributor discounts.

By | July 7, 2026
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Telecom rulings favor assessee on TP adjustments, spectrum depreciation, and distributor discounts. Issue Whether Transfer Pricing (TP) adjustments are sustainable when based on controlled comparables, lack adjustments for economic risks, or treat business-linked Advertisement, Marketing, and Promotion (AMP) expenses as a separate brand-promotion transaction. Whether a telecom operator can claim depreciation on 3G spectrum rights,… Read More »