Judgement

The ITAT Mumbai upheld the order of the National Faceless Appeal Centre (NFAC) deleting an addition of Rs 6.14 crore made under Section 68 of the Income Tax Act

ITAT Deletes Rs 6.14 Crore Addition, Holds Assessee is Not Required to Prove Source of Loan Creditor

ITAT holds no additional PE profits taxable once Indian entities are remunerated at arm's length.

No Separate PE Profits Taxable After TP Acceptance: ITAT

ITAT ruled that unsecured loan claims require proper documentary verification and sent the matter back to the AO to verify Rs 45.16 lakh invested in property.

Unsecured Loan Claims Need Verification, Rules Mumbai ITAT in Property Investment Case

ITAT holds MAT inapplicable to banks and allows deduction of RBI-related payments.

ITAT Reaffirms MAT Provisions Inapplicable to Banking Companies

The ITAT Mumbai holds that a bona fide depreciation claim made on the basis of then-existing assessment orders cannot be treated as concealment or furnishing of inaccurate particulars merely because subsequent appellate orders altered the tax position.

ITAT Deletes Penalty on Excess Depreciation Claim, Holds Bona Fide Claim Cannot Attract Section 271(1)(c)

Notifications

CBDT has expanded the list of eligible infrastructure businesses under the Income Tax Act, 2025, by including additional infrastructure sub-sectors from the Updated Harmonized Master List

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ITAT Deletes Rs 6.14 Crore Addition, Holds Assessee is Not Required to Prove Source of Loan Creditor

No Separate PE Profits Taxable After TP Acceptance: ITAT

Unsecured Loan Claims Need Verification, Rules Mumbai ITAT in Property Investment Case

ITAT Reaffirms MAT Provisions Inapplicable to Banking Companies

ITAT Deletes Penalty on Excess Depreciation Claim, Holds Bona Fide Claim Cannot Attract Section 271(1)(c)

CBDT Notifies Additional Infrastructure Businesses as Eligible Under Income-tax Act, 2025