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223 orders · Page 2 of 5
The Tribunal condoned the delay in filing the appeal before the CIT(A) and noted that the CIT(A) had dismissed the appeal on technical grounds without considering the merits. The Tribunal set aside the matter to the AO to allow the assessee an opportunity to explain the source of fixed deposits and other credits.
The Tribunal held that the assessee cannot be treated as an assessee in default under Section 201(1) of the Income Tax Act as it was bound by the interim judicial orders. Consequently, the interest charged under Section 201(1A) also does not survive.
The Tribunal held that the assessee failed to establish the identity, creditworthiness, and genuineness of the transactions related to the cash credits. The Tribunal found that the money was merely circulated without substantial funds and upheld the addition made by the AO and CIT(A).
The Tribunal held that the interests of justice would be served by remanding the matter back to the CIT(E) for a fresh consideration of the application. The assessee should be given an opportunity to submit its explanations and submissions.
The Tribunal held that mere credits in a personal account do not automatically constitute undisclosed business turnover without a direct nexus. The rejection of books and estimation of profit were deemed unjustified as no specific defects were found.
The tribunal held that the validity of the notice under Section 148 was to be examined in light of Supreme Court judgments. Regarding the property addition, the tribunal found that the Assessing Officer did not invoke specific provisions and the assessee's objections were not addressed, thus requiring fresh examination.
The Tribunal held that mere credits in a personal account do not automatically constitute undisclosed business turnover without a direct nexus. The rejection of books and estimation of profit were deemed unjustified as no specific defects were found.
The Tribunal set aside the CIT(A)'s order and restored the matter for fresh adjudication. This is to consider the retrospective insertion of Section 147A of the Act and to decide the factual issues on merits.
The Tribunal held that mere credits in a personal account do not automatically constitute undisclosed business turnover without a direct nexus. The rejection of books and estimation of profit were deemed unjustified as no specific defects were found.
The Tribunal allowed the assessee's appeal for statistical purposes, restoring the case to the AO. This was to provide the assessee an opportunity to present their case properly, subject to a cost of Rs. 20,000 to be deposited in the Prime Minister's National Relief Fund.
The Tribunal held that mere credits in a personal account do not automatically constitute undisclosed business turnover without a direct nexus. The rejection of books and estimation of profit were deemed unjustified as no specific defects were found.
The Tribunal held that the filing of Form 56G instead of 56F was a procedural mistake and not a substantive violation. The assessee was otherwise eligible for the deduction under Section 10AA.
The Tribunal held that the assessee cannot be treated as an assessee in default under Section 201(1) of the Income Tax Act as it was bound by the interim judicial orders. Consequently, the interest charged under Section 201(1A) also does not survive.
The Tribunal held that Section 69A applies only to money not recorded in books of account, which was not the case here as the receipts were recorded as business income. The AO failed to conduct independent inquiries to disprove the assessee's evidence.
The Tribunal found that the assessee was not granted an adequate opportunity to present its case. Therefore, the matters were remanded to the CIT(E) for fresh consideration.
The Tribunal held that the filing of Form 56G instead of 56F was a procedural mistake and not a substantive violation. The assessee was otherwise eligible for the deduction under Section 10AA.
The Tribunal found that the assessee was not granted an adequate opportunity to present its case. Therefore, the matters were remanded to the CIT(E) for fresh consideration.
The Tribunal held that since the assessee did not earn any exempt income during the relevant assessment year, the disallowance under Section 14A could not be invoked. The amendment to Section 14A, which allows disallowance even without exempt income, was held to be prospective.
The Tribunal found that the assessee had not been afforded a proper opportunity to present its case. Therefore, the matter was remanded to the CIT(Exemption) to reconsider the application afresh after taking into account the assessee's submissions.
The Tribunal noted the assessee's non-compliance but, in the interest of justice, remanded the matter to the Assessing Officer for a fresh assessment to allow the assessee to submit all relevant documents.
The Tribunal held that the CIT(A) erred in dismissing the appeal without considering the assessee's adjournment requests, thereby violating principles of natural justice. The impugned order of the CIT(A) was set aside and the appeal was restored for fresh adjudication.
The Tribunal found that the assessee had a reasonable cause for not complying with the notices due to the demise of their erstwhile auditor. Therefore, the matter was remanded back to the CIT(E) for fresh consideration.
The Tribunal set aside the penalty order and restored the issue to the Assessing Officer for fresh adjudication. This was to allow verification of assessment records and consideration of the assessee's contentions regarding notice issuance and service.
The Tribunal condoned the delay in filing the appeal, finding the assessee's explanation to be bonafide. The impugned order of the CIT(E) was set aside, and the matter was remanded for a fresh, speaking order after granting the assessee an opportunity to be heard.
The Tribunal set aside the CIT(A)'s order and restored the matter to the Assessing Officer for de novo assessment. The assessee was directed to submit all relevant documents and comply with notices without seeking unnecessary adjournments.
The Tribunal held that the CIT(A) did not grant a reasonable opportunity to the assessee to present their case, particularly regarding additional evidence. Therefore, the addition made under Section 69A was set aside and restored to the Assessing Officer for fresh adjudication.
The Tribunal held that the CIT(A) dismissed the appeals based on an incorrect understanding of the facts, as a condonation petition was indeed filed. The Tribunal condoned the delay and directed the CIT(A) to adjudicate the appeals on merits.
The Tribunal held that the assessee was granted registration retrospectively after the assessment order was passed. Therefore, the assessment order was set aside, and the matter was remanded for fresh assessment considering the valid registration.
The Tribunal held that the CIT(E) rejected the application without providing a reasonable opportunity of being heard and without considering the merits. The order of the CIT(E) was set aside.
The Tribunal held that the CIT(A) dismissed the appeals based on an incorrect understanding of the facts, as a condonation petition was indeed filed. The Tribunal condoned the delay and directed the CIT(A) to adjudicate the appeals on merits.
The Tribunal held that the interest earned on surplus project funds did not belong to the assessee but formed part of the grant corpus as per the MOU. Therefore, it was not liable to be taxed as the assessee's income.
The Tribunal found merit in the assessee's contention that the impugned addition was made without incriminating material. The affidavit, seized from a group concern, was executed by the assessee to be furnished to the State Bank of India as a guarantor for a credit facility to M/s. Kothi Steel Ltd. The affidavit mentioned immovable property of 4.21 acres and a monthly income of Rs. 24,000/-, which was inconsistent with the undisputed agricultural land holding of 109.521 acres owned by the assessee and his brother. The Tribunal held that this affidavit did not constitute incriminating material relating to the agricultural income. The decision of the Hon'ble Supreme Court in Principal CIT vs. Abhisar Buildwell (P.) Ltd. was squarely applicable, stating that in completed assessment years, additions cannot be made without incriminating material found during search. Therefore, the impugned additions were not sustainable and were ordered to be deleted.
The Tribunal held that the interest earned on surplus project funds did not belong to the assessee but formed part of the grant corpus as per the MOU. Therefore, it was not liable to be taxed as the assessee's income.
The Tribunal held that the AO relied on an excel sheet that did not contain the assessee's name and failed to confront the builder with the cash payment allegation. The assessee's payment details via cheques and NEFT were not disputed.
The Tribunal held that the interest earned on surplus project funds did not belong to the assessee but formed part of the grant corpus as per the MOU. Therefore, it was not liable to be taxed as the assessee's income.
The Tribunal held that the return filed in response to the notice under Section 148 was a valid return. It also found that the assessee was eligible for exemption under Section 11 and 12, directing the AO to allow the deduction after verification.
The Tribunal held that the reopening of the assessment was valid. However, it found that the Assessing Officer had not properly verified the details of the donation and subsequent cash receipts. Therefore, the matter was remanded back to the Assessing Officer for proper verification.
The tribunal found that the reopening of the assessment under Section 147 was justified. However, it noted that the Assessing Officer did not properly verify the details of the donation and subsequent cash receipts, thus remanding the matter for fresh adjudication.
The Tribunal held that the transaction was not a case of accommodation entry or bogus purchases, as the amount was returned. The PCIT's revision order was considered unjustified and without jurisdiction.
The Tribunal held that since the facts and issues for the current assessment year were identical to the preceding year, and the issue had already been decided in favor of the assessee, the CIT(A) was correct in following the previous decision.
The Tribunal set aside the CIT(E)'s order, allowing the assessee an opportunity to present its case. The matter was restored to the CIT(E) for a fresh decision after providing adequate opportunity.
The Tribunal found that the assessee had provided details of cash withdrawals from previous years and cash in hand, which were not considered by the AO or CIT(A). Therefore, the addition made under Section 69A was not justified.
The Tribunal held that the cash deposits represented genuine sales made by the assessee on November 8, 2016, during the demonetisation period. The Tribunal found the assessee's explanation and supporting evidence, including quantitative tally of stock and sales, to be credible.
The Tribunal decided on the issues as follows: Regarding the addition of Rs. 10,50,000/- under Section 69, the Tribunal held that the Tally back-up was from an entity named 'SHREE NATHA EXTRUSION', not the assessee 'M/s. Shreenathji Extrusion'. There was no material to prove the ledger represented the assessee's transactions. The assessee's evidence, including its books, M/s. Balkrishana Metal's ledger, and bank statements, showed the Rs. 10,50,000/- as an inward RTGS receipt on December 26, 2016, an advance against goods sold on January 9, 2017, not a cash outflow or unexplained investment. Therefore, the addition was not sustainable. The Tribunal allowed Ground No. 5 of the Cross-Objection for AY 2017-18. Other legal grounds in the cross-objection for AY 2017-18 were rendered academic. The cross-objections for AYs 2015-16, 2016-17, and 2018-19 were dismissed as infructuous because the CIT(A)'s deletions were upheld. The assessee's appeal for AY 2019-20 was partly allowed, and the Revenue's appeals for all AYs were dismissed. The ratio is that evidence must directly link to the assessee and be corroborated to sustain additions, especially when counter-evidence from the assessee's own records and banking channels clearly explains the transaction.
The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s deletion of the disallowance. It found that the payments made to medical practitioners for professional services, supported by agreements and details, were not prohibited expenditures under Section 37(1).
The Tribunal held that the jurisdiction to entertain the appeal lies with the Delhi Benches of the Tribunal, not the Ahmedabad Benches. Therefore, the appeal and cross-objection were dismissed.
The CIT(A) deleted the addition, observing that the AO wrongly treated sale consideration as unexplained investment and there was no material to show the investment was unexplained. The Tribunal found no infirmity in the CIT(A)'s order.
The Tribunal noted that the assessee provided additional documents, including sales bills and a cash flow chart, before the Tribunal that were not presented to the AO. Therefore, the matter was remanded to the AO for proper verification of these new details.
The Tribunal set aside the CIT(E)'s order, citing the principle of natural justice, and granted the assessee one more opportunity to present its case. This was conditional on the assessee paying a cost of Rs. 10,000/- to the Income Tax Department.
The Tribunal restored the appeal to the CIT(A) for a fresh hearing, imposing a cost of Rs. 5,000/- on the assessee. The assessee is directed to utilize this final opportunity to present all necessary documents and evidence.