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Rectification Order Passed In Name Of Non-Existent Entity Despite Having Knowledge Of Its Merger, Is Invalid: Mumbai ITAT

The Mumbai ITAT held that rectification order passed in the name of a non-existent entity, despite informing Revenue regarding its merger, is non-est in the eyes of law. The Division Bench. ....

Mumbai , Maharashtra , India , Bombay , Raj-kumar-chauhan , Teleperformance-global-servicesp-ltd , Mahagun-realtorsp-ltd , Maruti-suzuki-india-ltd , Bank-ltd , Bombay-high-court , United-western-bank-ltd , Bank-successor

Date Of Possession Of New Property To Be Considered As Date Of Acquisition; ITAT Allows Deduction

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the date of possession of new property to be considered as date of acquisition and the assessee is entitled to deduction under. ....

India , Mumbai , Maharashtra , Vimal-punmiya , Raj-kumar-chauhan , Mumbai-bench , Income-tax-appellate-tribunal , Income-tax-act , Judicial-member , Prashant-maharishi , Accountant-member

I-T Authority Fails To Consider Reason For Difference In Sale Consideration & Stamp Duty: Mumbai ITAT Deletes Penalty Levied U/s 270A For Under-Reporting Of Income

Noting that neither the Assessing Officer nor the CIT(A) have taken into consideration the explanation offered by the Assessee during the assessment proceedings in relation to the difference in the. ....

Pritesh-mehta , Assessing-officer , Prashant-maharishi , Accountant-member , Rahul-chaudhary , Judicial-member , Evaluation-officer , Mumbai-itat , Ssessing-officer- , Ccita , Assessee

No ALP Adjustment Is Permitted On Notional Amount Of Royalty Paid By Overseas Subsidiary, Reiterates Mumbai ITAT

The Mumbai ITAT confirmed the CIT(A) s action in deleting the addition made on account of waiver of royalty received from two subsidiaries. The Bench comprising Prashant Maharishi (Accountant. ....

Sri-lanka , Bangladesh , Sandeep-singh-karhail , Fenil-bhatt , Harshad-panchal , Prashant-maharishi , Accountant-member , Tax-payer , Mumbai-itat , Eleting-the-addition- , Waiver

Issuance Of Letters Of Comfort/Support Will Construe As International Transaction U/s 92B: Mumbai ITAT

The Mumbai ITAT recently ruled on selection of comparable and transfer pricing adjustment on account of non-recovery of charges for providing letter of comfort/support and royalty in case of. ....

Madhur-agrawal , Sandeep-singh-karhail , Vachashpati-tripathi , Counsel-for-department , Inmacs-management-services-ltd , Axis-integrated-systems-ltd , Prashant-maharishi , Accountant-member , Sandeep-singh , Judicial-member , Tax-payer , Mumbai-itat