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156 orders · Page 3 of 4
The Tribunal held that the Revenue's appeal should be dismissed on the grounds of low tax effect, as per CBDT instruction no. 3 of 2018. The Revenue did not dispute the applicability of this circular or any exceptions.
The Tribunal held that unabsorbed depreciation and losses that have already been set off against other income in earlier years cannot be notionally brought forward and set off against the income of the eligible business (windmill) for the purpose of computing the deduction under Section 80IA(4). The CIT(A)'s deletion of the addition was upheld.
The Tribunal dismissed the Revenue's appeal, upholding the deletion of additions based on previous ITAT and High Court decisions. The Assessee's appeal was allowed for statistical purposes, remanding the issue of provision for expenses back to the AO for fresh consideration.
The Tribunal restored the matter to the CIT (Exemptions) for fresh adjudication. This was because the assessee submitted the required details a few days after the CIT's rejection order, and the revenue did not object to the restoration.
The Tribunal presumed the assessee was not interested in prosecuting the appeal due to non-appearance and lack of communication. Consequently, the appeal was dismissed for want of prosecution.
The Tribunal set aside the matter to the AO for a fresh decision. The AO is to consider all documents submitted by the assessee and pass a reasoned order after considering the provisions of law.
The Tribunal found that the assessee had sought adjournment on a cogent ground (advocate's medical treatment) which was not properly considered by the CIT(A). To prevent miscarriage of justice, the Tribunal set aside the order and remanded the matter back to the CIT(A) for fresh adjudication.
The Tribunal held that to prevent miscarriage of justice, the assessee should be given an opportunity to represent their case before the CIT(A). The matter was set aside for fresh adjudication.
The Tribunal upheld the deletion of additions related to carbon credit receipts, following previous precedents. It also upheld the deletion of disallowance under Section 14A, finding no error in the CIT(A)'s decision.
The Tribunal held that the addition was made due to the assessee's inability to correlate drawings and deposits, and the assessee had paid taxes on the offered income. The explanation of bonafide mistake by employees was accepted.
The Tribunal upheld the deletion of additions related to carbon credit receipts, following previous precedents. It also upheld the deletion of disallowance under Section 14A, finding no error in the CIT(A)'s decision.
The Tribunal held that the appeal of the Revenue deserved to be dismissed based on the CBDT instruction regarding low tax effect, as the tax effect was below the prescribed limit. The Revenue did not dispute the applicability of the circular.
The Tribunal held that the issue was covered by a previous Division Bench decision. Following this precedent, the Tribunal deleted the penalty imposed on the assessee.
The Tribunal held that the penalty under Section 271B should be deleted as there was no variation in income and the assessee's explanation, though not perfect, was bonafide. The decision followed a precedent set by a Division Bench of the Tribunal.
The Tribunal upheld the CIT(A)'s decision, finding that the services were rendered outside India and income did not accrue or arise in India, thus no TDS obligation arose. Therefore, the disallowances were not justified.
The Tribunal restored the issue to the Assessing Officer for fresh consideration. This was based on a CESTAT order which held that the assessee had explained the reason for non-accounting of goods and the goods were not finished goods. The CESTAT order was not considered during penalty proceedings.
The Tribunal presumed that the assessee was not interested in pursuing the appeal due to non-appearance. The appeal was dismissed for want of prosecution.
The Tribunal held that the assessee had sufficient interest-free funds available from its business operations (specifically, from sundry creditors for goods) which were more than the interest-free advances given. Therefore, the disallowance of interest was not justified.
The Tribunal held that depreciation is not admissible on the land component of a building purchase, following the Supreme Court's decision in Alps Theatre. The assessee's reliance on other cases was distinguished based on facts.
The Tribunal presumed that the assessee was not interested in pursuing the appeal due to their non-appearance. Following precedent, the appeal was dismissed for want of prosecution.
The Tribunal held that the CIT(A) erred in entertaining the appeal as the assessee had not complied with the mandatory condition of paying the admitted tax on the returned income as per Section 249(4) of the Income Tax Act. The right to appeal is statutory and must be exercised strictly in accordance with the provisions.
The Tribunal upheld the disallowance of expenses related to exempt income under Section 14A. However, regarding the depreciation claim, the Tribunal set aside the matter to the CIT(A) for re-examination of evidence.
The Tribunal held that the CIT(A) failed to adjudicate the grounds of appeal on merits. Therefore, the matter was remitted back to the Assessing Officer for a fresh adjudication with a speaking order and an opportunity of hearing.
The Tribunal set aside the matter to the CIT(A) for fresh adjudication. The CIT(A) is to examine the developer agreement, payments made, and evidence submitted by the assessee regarding the investment in the new property.
The Tribunal noted the assessee's non-appearance and lack of any adjournment request. Presuming the assessee was not interested in pursuing the appeal, the Tribunal dismissed the appeal.
The Tribunal condoned the delay in filing the appeal for AY 2013-14 and set aside the CIT(A)'s order, remitting the issue for adjudication on merit. For AY 2014-15, the Tribunal found that complete details were not on record and remitted the issue of Section 14A disallowance back to the CIT(A) for re-adjudication.
The Tribunal held that the CIT(A) erred in dismissing the appeal ex parte without considering the merits. While the assessee was negligent, the punishment of confirming additions was disproportionate. The order was set aside subject to a cost.
The Tribunal held that while an addition under Section 68 can be made if the explanation for cash credits is not substantiated, penalty under Section 271(1)(c) is not automatic. The assessee's explanation was not found to be false, but merely unsubstantiated.
The Tribunal held that the refundable security deposits collected from members, to be returned after 25 years without interest, do not constitute income. This decision was based on previous judgments in the assessee's own case, which were upheld by the jurisdictional High Court.
The Tribunal condoned the delay in filing the appeal for AY 2013-14 and set aside the CIT(A)'s order, remitting the issue for adjudication on merit. For AY 2014-15, the Tribunal found that complete details were not on record and remitted the issue of Section 14A disallowance back to the CIT(A) for re-adjudication.
The Tribunal upheld the deletion of disallowance under Section 80IC and Section 14A, relying on High Court decisions. However, it upheld the disallowance of employees' contribution to PF and ESI as it was not paid within the prescribed due dates.
The Tribunal held that the assessee's case falls under the first exception to Section 73 of the Income Tax Act, as its gross total income mainly consisted of income from non-business heads. Therefore, the losses from derivatives trading could not be deemed speculative.
The Tribunal has not yet provided a decision on the merits of the case in the provided text. The text only outlines the grounds of appeal and the procedural history.
The Tribunal held that the income from the exhibition should be treated as eligible for exemption under Section 11, following a co-ordinate bench's decision in a similar case. The activities were considered in line with the assessee's charitable objects.
The Tribunal held that there was no sufficient cause for condoning the inordinate delay in filing the appeals, as the assessees had accepted the computation of capital gains and had not challenged the stamp duty valuation earlier. The application under Section 154 was also dismissed as there was no apparent error in the original order.
The Tribunal held that there was no sufficient cause for condoning the inordinate delay in filing the appeals, as the assessees had accepted the computation of capital gains and had not challenged the stamp duty valuation earlier. The application under Section 154 was also dismissed as there was no apparent error in the original order.
The Tribunal held that there was no sufficient cause for condoning the inordinate delay in filing the appeals, as the assessees had accepted the computation of capital gains and had not challenged the stamp duty valuation earlier. The application under Section 154 was also dismissed as there was no apparent error in the original order.
The Tribunal held that there was no sufficient cause for condoning the inordinate delay in filing the appeals, as the assessees had accepted the computation of capital gains and had not challenged the stamp duty valuation earlier. The application under Section 154 was also dismissed as there was no apparent error in the original order.
The Tribunal upheld the disallowance of the bad debt claim. It found no material to demonstrate that the loss crystallized in the assessment year 2014-15, as the supporting documents were from 2000 and 2001.
The Tribunal held that there was no sufficient cause for condoning the inordinate delay in filing the appeals, as the assessees had accepted the computation of capital gains and had not challenged the stamp duty valuation earlier. The application under Section 154 was also dismissed as there was no apparent error in the original order.
The Tribunal has not yet provided a decision on the merits of the case in the provided text. The text only outlines the grounds of appeal and the procedural history.
The Tribunal deleted the addition on interest-free advances, finding that the funds were from interest-free sources and the borrowing was for business purposes. However, the disallowance of employee's contribution to ESI & PF was upheld due to late deposit.
The Tribunal held that the issues were identical to those decided by a co-ordinate bench in favor of the assessee. Therefore, the Tribunal found no reason to disturb the CIT(A)'s findings.
The Tribunal held that the CIT's order under Section 263 was not sustainable as the AO had applied his mind and the CIT's opinion was merely a change of opinion. The valuation report's description pertained to the inspection date, not the valuation date.
The Tribunal held that Section 41(1) applies only when a trading liability, previously allowed as a deduction, is remitted or ceases. Since the assessee had not written off the liability and there was no evidence of cessation, the addition was not justified.
The Tribunal set aside the issue to the AO for re-computation of the exact interest income. The assessee was given liberty to furnish evidence and explanations regarding the actual interest earned.
The assessee requested permission to withdraw the appeals against the denial of registration. The Tribunal granted the prayer for withdrawal.
The Tribunal held that disallowance of expenditure on an estimated basis due to lack of commercial expediency does not automatically amount to concealment of income or furnishing of inaccurate particulars. Penalty under Section 271(1)(c) is not leviable in such cases.
The Tribunal deleted the addition on interest-free advances, finding that the funds were from interest-free sources and the borrowing was for business purposes. However, the disallowance of employee's contribution to ESI & PF was upheld due to late deposit.
The Tribunal agreed in principle that income already offered and taxed before the Settlement Commission cannot be taxed again in regular assessment. Therefore, the issue was remitted back to the Assessing Officer for factual verification.