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78 tribunal orders from the Agra bench in 2018.
Showing 40 of 78 orders. Use the months below for the rest.
The Tribunal held that the valuation of closing stock should be at cost price, not MRP, and directed the AO to consider the excess stock at cost price. The Tribunal also directed to allow set-off for surrendered income, book value of stock, and dead stock.
The Tribunal upheld the CIT(A)'s order, finding that the amounts received were part of a tripartite collaboration agreement and constituted genuine business transactions, not deemed dividends. The Tribunal also found that the admission of additional evidence by the CIT(A) was justified.
The Tribunal held that the estimate of net profit rate at 5% on turnover, even after rejection of books, was excessive. It noted that comparative results of three years showed a maximum net profit rate of 1.5% and that increased sales could lead to a declined net profit rate.
The Tribunal held that Section 57(iii) of the Income Tax Act does not require that income must actually be earned for an expenditure to be deductible. The expenditure only needs to be laid out wholly and exclusively for the purpose of earning income.
The Tribunal allowed the deletion of the addition under Section 40A(3) as the expenses were petty cash covered by exceptions. For the interest disallowance, the matter was restored to the AO for fresh adjudication, considering it could be allowable under business income. The appeal regarding unsecured loans was not explicitly detailed in the provided snippet but the final result indicates a partial allowance.
The Tribunal held that since the assessment order was passed under Section 143(3), it implied that the assessee had complied with the notices. Therefore, the penalty imposed for non-compliance was cancelled.
The Tribunal held that since the assessment order was passed under Section 143(3), it implied that the assessee had complied with the notices. Therefore, the penalty imposed for non-compliance was cancelled.
The tribunal held that the CIT(A) exceeded his jurisdiction by introducing a new source of income not considered by the AO. The addition of interest income was made in violation of principles of natural justice and lacked jurisdiction.
The Tribunal upheld the disallowance for the first ground (Rs. 3,13,078) due to incomplete payee addresses and the inability to verify the genuineness of the transactions despite vouchers. However, for the second ground (Rs. 8,52,002), the Tribunal allowed the deduction, finding that the transactions were genuine and there was business expediency for cash payments, even though they didn't strictly fall under Rule 6DD(k).
The Tribunal held that the reassessment proceedings were legally invalid because the Assessing Officer failed to properly dispose of the assessee's objections and serve the order before completing the assessment. The Tribunal also noted that the Revenue's appeal was dismissed based on a CBDT circular regarding monetary limits for appeals.
The Tribunal found that the CIT(A) had applied the cost of acquisition from the assessee's brother's case without confronting the assessee, thus depriving them of an opportunity to rebut. Consequently, the matter was remitted back to the Assessing Officer for fresh adjudication.
The Tribunal held that additions made under Section 153A are not sustainable if they are not based on incriminating material found during the search. Following the Delhi High Court's decision in CIT vs. Kabul Chawla, the Tribunal deleted the addition.
The Tribunal found that the net profit rates applied by both the AO and CIT(A) were on the higher side. It directed that interest income, assessed separately, should be excluded when calculating the net profit rate for contract receipts.
The Tribunal upheld the CIT(A)'s decision, confirming that the bank had a bonafide belief based on the Agra Development Authority's registration certificate and its nature as a state government-run entity, constituting a reasonable cause under Section 273B.
The Tribunal dismissed the appeal filed by the Revenue in limine. This was based on a CBDT Circular directing that appeals with a tax effect below Rs. 20 lacs should not be filed or pressed.
The Tribunal held that as per CBDT Circular No. 3/2018, appeals with a tax effect below Rs. 20 lacs should not be filed or pressed. The circular is binding on departmental officers.
The Tribunal held that an appeal filed against a deceased person is a nullity and therefore incompetent. Consequently, both the Revenue's appeal and the assessee's cross-objection were dismissed.
The Tribunal held that the penalty notice issued was not in conformity with the law and was void ab initio. Therefore, all proceedings based on such notice were quashed.
The Tribunal confirmed the CIT(A)'s order, holding that the bank had a bonafide belief that TDS was not required due to the Agra Development Authority's registration certificate and its nature as a state government-run body. This belief constituted a reasonable cause under Section 273B.
The Tribunal held that the Assessing Officer (AO) cannot use section 154 to review or revise his earlier order when all material was available during the original assessment. The AO had consciously considered the details of cash expenses and made an ad-hoc addition, and therefore, could not take a contrary view later.
The Tribunal held that opening capital and unsecured loans pertaining to a previous assessment year, even if appearing as opening balances in the current year, cannot be taxed in the current year. The CIT(A) was justified in deleting these additions.
The Tribunal held that the loan was indeed against property and sanctioned in the assessee's name, with others as guarantors. It established a clear nexus between the borrowed funds and the income-earning investments in the partnership firms, entitling the assessee to a deduction.
The Tribunal deleted the addition for unexplained investment as no actual investment was proved. It also deleted the enhanced income as the profit margins for domestic trading and export services were different. The Tribunal allowed the exemption under Section 10A, finding no violation of provisions.
The Tribunal held that the CIT(A) had failed to discuss the documentary evidence and the donor's statement on merits, brushing them aside as merely explaining the form and not the substance of the transaction. The matter was therefore remitted back to the CIT(A) for a fresh decision.
The Tribunal held that section 115BBC(3) only requires the recipient to maintain the name and address of the donor. Since the assessee had furnished the list of names and addresses of contributors, the amount could not be treated as anonymous donations.
The Tribunal held that the CIT(Exemptions) erred in rejecting the application based on issues related to the application of income and potential violations of Section 13, which are matters for the Assessing Officer. The Tribunal found that the objects of the society were charitable and that the revised application with correct details was not properly considered.
The Tribunal held that the CIT(A)'s decision to dismiss the appeal ex parte for non-prosecution was unsustainable in law. The matter was remitted back to the CIT(A) for a fresh decision on merits after providing the assessee with an adequate opportunity of hearing.
The Tribunal admitted the sale deed and the reassessment order as additional evidence, noting that the issue of capital gains was pending before the CIT(A). The matter was remitted to the CIT(A) to decide afresh, considering the additional evidence and the pending capital gains issue.
The Tribunal admitted the sale deed and the reassessment order as additional evidence, noting that the issue of capital gains was pending before the CIT(A). The matter was remitted to the CIT(A) to decide afresh, considering the additional evidence and the pending capital gains issue.
The Assessing Officer allowed the assessee's application for exemption under Section 10(26AAB) after a rectification application. Consequently, the demand was reduced to NIL.
The Tribunal held that the approval granted by the Principal Commissioner was mechanical and lacked application of mind, rendering it legally untenable. Consequently, the approval and all subsequent proceedings were quashed.
The Tribunal held that the approval granted by the Principal Commissioner was unsustainable in law as it was granted without application of mind. Consequently, the approval and all proceedings pursuant thereto were quashed.
The Tribunal held that the approval granted by the Principal Commissioner was not legally tenable as it was given without application of mind. Consequently, the approval and all subsequent proceedings, including the assessment order, were quashed.
The Tribunal held that the AO failed to refer the valuation to the DVO despite the assessee's objection and request, which is a mandatory requirement under Section 50C(2) when the stamp duty value is disputed. The lower authorities passed orders summarily without proper analysis.
The Tribunal held that penalty under Section 271A is for failure to maintain books of account, while Section 271B is for failure to get them audited. Since no books were maintained, penalty under Section 271A was leviable, but penalty under Section 271B was not applicable.
The Tribunal held that the orders passed by the CIT(E) under Section 263 were cancelled by a previous Tribunal order. Since the basis for the subsequent assessment orders and the impugned CIT(A) orders was thus effaced, these orders could not survive.
The Tribunal held that penalty under Section 271A is for failure to maintain books of account, while Section 271B is for failure to get them audited. Since no books were maintained, penalty under Section 271A was leviable, but penalty under Section 271B was not applicable.
The Tribunal held that the approval granted by the Additional Commissioner was mechanical and lacked application of mind, rendering it legally invalid. Consequently, the reassessment proceedings and the penalty imposed were quashed.
The Tribunal held that the reassessment notice was invalid because the AO's reasons did not quantify the escaped income and did not state that it was likely to be Rs. 1 lakh or more, which is a requirement for notices issued beyond four years. The Tribunal followed the jurisdictional High Court's decisions in Mahesh Kumar Gupta and Amar Nath Agarwal.
The Tribunal held that the approval granted by the Additional Commissioner was mechanical and lacked application of mind, rendering it legally invalid. Consequently, the reassessment proceedings and the penalty imposed were quashed.