Tag Archives: IN THE ITAT MUMBAI BENCH

ITAT Rules in Favor of Assessee on Transfer Pricing, Subsidies, and Section 32AC While Upholding Revenue’s Section 43B Disallowance

By | August 22, 2026
0 Comment

ITAT Rules in Favor of Assessee on Transfer Pricing, Subsidies, and Section 32AC While Upholding Revenue’s Section 43B Disallowance ITAT Rules in Favor of Assessee on Transfer Pricing, Subsidies, and Section 32AC While Upholding Revenue’s Section 43B Disallowance Issue Whether internal CUP based on State distribution tariffs, capital subsidies exemption, Section 32AC deduction on CWIP,… Read More »

Proportionate Cost Allocation to Low-Pressure Steam for Section 80-IA Deduction Is Valid and Cannot Be Treated as Nil

By | August 21, 2026
0 Comment

Proportionate Cost Allocation to Low-Pressure Steam for Section 80-IA Deduction Is Valid and Cannot Be Treated as Nil Issue Whether the Revenue can assign a nil cost to low-pressure steam generated by a captive power plant and allocate the entire process cost exclusively to electricity generation to deny a Section 80-IA deduction, despite the steam… Read More »

Customary household savings, gifts, and past family cash inflows explain cash found during search, invalidating Section 69A addition.

By | August 21, 2026
0 Comment

Customary household savings, gifts, and past family cash inflows explain cash found during search, invalidating Section 69A addition. Issue Whether cash of Rs. 8.87 lakhs attributed to a senior citizen mother and minor children can be added as unexplained money under Section 69A when supported by customary household savings, traditional gifts, and documented past cash… Read More »

Contributions to Leave Encashment Fund, pre-AY 2015-16 CSR expenses, and disputed accrued rentals are allowable business deductions for Major Port Authority.

By | August 21, 2026
0 Comment

Contributions to Leave Encashment Fund, pre-AY 2015-16 CSR expenses, and disputed accrued rentals are allowable business deductions for Major Port Authority. Issue Whether contributions to an insurer-managed leave encashment fund, pre-AY 2015-16 CSR expenses under binding guidelines, staff welfare payments misclassified as donations, disputed unrecovered estate rentals, and higher depreciation on port structures are allowable… Read More »

Cost Of Low Pressure Steam Transferred To Paper Division Cannot Be Treated As Nil For Section 80 IA Computation

By | August 20, 2026
0 Comment

Cost Of Low Pressure Steam Transferred To Paper Division Cannot Be Treated As Nil For Section 80 IA Computation Issue Whether tax authorities can assign a nil cost to low-pressure steam transferred to a paper division and allocate the entire cost exclusively to electricity generation, thereby converting an eligible Section 80-IA captive power unit into… Read More »

AO Must Consider Section 170A Modified Return And Cannot Add Transfer Pricing Adjustments To MAT

By | August 20, 2026
0 Comment

AO Must Consider Section 170A Modified Return And Cannot Add Transfer Pricing Adjustments To MAT Issue Section 170A Modified Return: Whether the Assessing Officer is required to adopt a modified return filed u/s 170A post-NCLT merger scheme as the starting point for recomputing total income. Transfer Pricing Adjustments under MAT: Whether transfer pricing adjustments made… Read More »

Interest Incurred Post Project Completion On Unsold Inventory Is Deductible Revenue Expense Upon TDS Compliance

By | August 20, 2026
0 Comment

Interest Incurred Post Project Completion On Unsold Inventory Is Deductible Revenue Expense Upon TDS Compliance Interest Incurred Post Project Completion On Unsold Inventory Is Deductible Revenue Expense Upon TDS Compliance Issue Whether interest expenditure incurred after the completion of a real estate project on borrowed funds relatable to unsold stock-in-trade must be capitalized to flat… Read More »

Registration Under Section 12AB Restored As Primary Proof Exists Via Affidavit And Departmental Records

By | August 20, 2026
0 Comment

Registration Under Section 12AB Restored As Primary Proof Exists Via Affidavit And Departmental Records   Registration Under Section 12AB Restored As Primary Proof Exists Via Affidavit And Departmental Records Issue Whether CIT(E) can reject a Section 12AB registration application solely for lack of an original physical pre-2021 registration certificate when official departmental records and trustee… Read More »

Penalty Under Section 271(1)(c) Inapplicable Where Prepaid Tax Exceeds Assessed Tax In Reassessment Proceedings

By | August 19, 2026
0 Comment

Penalty Under Section 271(1)(c) Inapplicable Where Prepaid Tax Exceeds Assessed Tax In Reassessment Proceedings Penalty Under Section 271(1)(c) Inapplicable Where Prepaid Tax Exceeds Assessed Tax In Reassessment Proceedings Issue Whether a penalty for concealment of income under Section 271(1)(c) read with Explanation 3 and Explanation 4(c) can be levied when the tax deducted at source… Read More »

Depreciation Is Allowable On Entire Contractual Cost Of IPL Franchise And TP Adjustments Require Mandatory TPO Reference

By | August 19, 2026
0 Comment

Depreciation Is Allowable On Entire Contractual Cost Of IPL Franchise And TP Adjustments Require Mandatory TPO Reference Issue Whether “actual cost” under Section 43(1) for claiming depreciation on intangible assets (IPL franchise rights) means the entire contractual consideration or is limited to the actual instalments paid during the relevant year. Whether the Assessing Officer /… Read More »