Tag Archives: IN THE ITAT MUMBAI BENCH

Reassessment Proceedings Conducted by NFAC Prior to Statutory Notification Date of 29.03.2022 Are Void Ab Initio

By | August 28, 2026
0 Comment

Reassessment Proceedings Conducted by NFAC Prior to Statutory Notification Date of 29.03.2022 Are Void Ab Initio Reassessment Proceedings Conducted by NFAC Prior to Statutory Notification Date of 29.03.2022 Are Void Ab Initio Issue Whether faceless reassessment proceedings assumed and completed by the National Faceless Assessment Centre (NFAC) prior to the notification of the ‘e-Assessment of… Read More »

Reassessment Proceedings Conducted by NFAC Prior to Notification Date of 29.03.2022 Are Void Ab Initio

By | August 28, 2026
0 Comment

Reassessment Proceedings Conducted by NFAC Prior to Notification Date of 29.03.2022 Are Void Ab Initio Reassessment Proceedings Conducted by NFAC Prior to Notification Date of 29.03.2022 Are Void Ab Initio Issue Whether faceless reassessment proceedings assumed and completed by the National Faceless Assessment Centre (NFAC) prior to the notification of the ‘e-Assessment of Income Escaping… Read More »

Identical Transfer Pricing Adjustments on Management Fees Deleted Following Consistent ITAT Precedents in Assessee’s Own Case

By | August 28, 2026
0 Comment

Identical Transfer Pricing Adjustments on Management Fees Deleted Following Consistent ITAT Precedents in Assessee’s Own Case Issue Whether a transfer pricing adjustment made on the payment of management fees to an Associated Enterprise (AE) is sustainable when identical adjustments in earlier assessment years were deleted by the Tribunal. Facts Assessee Business: The assessee-company is engaged… Read More »

Reimbursing doctor travel, operational surpluses, and unadjudicated regulatory issues do not negate a trust’s genuine charitable status under Section 12AB.

By | August 28, 2026
0 Comment

Reimbursing doctor travel, operational surpluses, and unadjudicated regulatory issues do not negate a trust’s genuine charitable status under Section 12AB. Reimbursing doctor travel, operational surpluses, and unadjudicated regulatory issues do not negate a trust’s genuine charitable status under Section 12AB. Issue Whether a charitable society running a hospital loses its entitlement to registration under Section… Read More »

CIT(A) cannot issue conditional remand directions without conclusively deciding penalty for bona fide error

By | August 27, 2026
0 Comment

CIT(A) cannot issue conditional remand directions without conclusively deciding penalty for bona fide error Issue Whether the CIT(A)/NFAC exceeded jurisdiction under Section 251(1)(b) by issuing a conditional direction to the Assessing Officer while failing to conclusively decide if the reporting difference was a bona fide clerical error under Section 270A(6)(a). Facts Assessee made a provision… Read More »

Transfer pricing adjustment remanded for fresh evidence verification, while MAT addition on unexpired risks reserve is deleted.

By | August 27, 2026
0 Comment

Transfer pricing adjustment remanded for fresh evidence verification, while MAT addition on unexpired risks reserve is deleted.   Transfer pricing adjustment remanded for fresh evidence verification, while MAT addition on unexpired risks reserve is deleted. Issue Whether transfer pricing adjustment determining ALP as NIL for intra-group services should be remanded to the AO/TPO to verify… Read More »

Lack of formal trust deed cannot justify refusing Section 12AB registration when genuine charitable activities exist

By | August 27, 2026
0 Comment

Lack of formal trust deed cannot justify refusing Section 12AB registration when genuine charitable activities exist Lack of formal trust deed cannot justify refusing Section 12AB registration when genuine charitable activities exist Issue Whether the absence of a formal trust deed constitutes a valid ground for refusing renewal of registration under Section 12AB and approval… Read More »

Reversal of Unbilled Revenue Offered to Tax and Non-Royalty Payments to Non-Residents Are Deductible

By | August 27, 2026
0 Comment

Reversal of Unbilled Revenue Offered to Tax and Non-Royalty Payments to Non-Residents Are Deductible Reversal of Unbilled Revenue Offered to Tax and Non-Royalty Payments to Non-Residents Are Deductible Issue Whether the reversal/write-off of opening unbilled revenue that was already offered to tax in preceding assessment years is allowable as business expenditure under Section 37(1). Whether… Read More »

Alleged On-Money Requires Specific Ownership Proof, While WhatsApp Evidence Validates Reduced Section 69A Addition

By | August 22, 2026
0 Comment

Alleged On-Money Requires Specific Ownership Proof, While WhatsApp Evidence Validates Reduced Section 69A Addition Issue Issue 1 (Section 69 / Section 103): Whether alleged “on-money” recorded in seized electronic files for property purchases can be added as unexplained investment under Section 69 in the hands of an individual whose trade name was listed as a… Read More »

Tax Addition Under Section 68 Unjustified for Demonetised Cash Repayments and Related Interest Income

By | August 22, 2026
0 Comment

Tax Addition Under Section 68 Unjustified for Demonetised Cash Repayments and Related Interest Income Issue Whether cash repayments of existing loans received in Specified Bank Notes (SBNs) by a micro-finance NBFC, and the corresponding interest income already credited to the Profit & Loss account, can be treated as unexplained cash credits under Section 68 of… Read More »