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366 orders · Page 1 of 8
The Tribunal found that the matter needed to be examined afresh by the Assessing Officer. Therefore, the CIT(A)'s order was set aside, and the case was restored to the AO for a de-novo assessment.
The Tribunal upheld the CIT(A)'s decision, stating that appellate authorities can allow lawful claims not made in the original return, especially when it pertains to a substantive statutory benefit. The denial of the claim due to a procedural lapse was deemed incorrect.
The Tribunal condoned the delay in filing the appeal, subject to the assessee depositing Rs. 25,000/- as costs. The impugned ex-parte order of the CIT(A) was set aside and the matter was restored for a fresh decision on merits.
The Tribunal found that the CIT(A) had erred in disallowing the deduction under Section 80P(2)(d) and in disallowing expenses and depreciation. The Tribunal noted that the CIT(A) had not properly considered the nature of the cooperative society and the evidence provided.
The Tribunal found that the profit element in unaccounted sales should be higher than estimated by the CIT(A) due to lack of stock registers. The addition was modified to 8% of the unaccounted sales.
The Tribunal found that the profit element in unaccounted sales should be higher than estimated by the CIT(A) due to lack of stock registers. The addition was modified to 8% of the unaccounted sales.
The ITAT condoned the delay in filing the appeal due to the medical reasons. The ex-parte order of the CIT(A) was set aside, and the matter was restored to the CIT(A) for a fresh decision on merits after providing the assessee an opportunity to be heard.
The Tribunal held that the addition was based on mere presumption and conjecture as the assessee's name did not appear in the seized material, nor was there any evidence of cash payment by the assessee. The CIT(A) had rightly deleted the addition.
The Tribunal held that adding the entire cash receipts as income was not justified. It decided to assess the profit element on these receipts at 20% and confirmed the addition to that extent, deleting the remaining 80%.
The tribunal partly allowed the assessee's appeal, dismissing some grounds while allowing others. The Revenue's appeal was dismissed entirely, with most of its grounds being affirmed based on previous tribunal orders.
The Tribunal upheld the CIT(A)'s decision, stating that appellate authorities can allow lawful claims not made in the original return, especially when it pertains to a substantive statutory benefit. The denial of the claim due to a procedural lapse was deemed incorrect.
The Tribunal held that the assessee's failure to respond to notices was not intentional, as they were unaware of the notices being issued. Therefore, the penalty was deleted.
The Tribunal held that the assessee's failure to file separate Form 10CCB for each unit was a bona fide mistake. The PCIT's order was modified to allow the AO to consider separate Forms 10CCB filed during de-novo assessment, irrespective of the delay.
The tribunal partly allowed the assessee's appeal, dismissing some grounds while allowing others. The Revenue's appeal was dismissed entirely, with most of its grounds being affirmed based on previous tribunal orders.
The Tribunal condoned the delay in filing the appeal, set aside the CIT(A)'s order, and restored the matter to the AO. The assessee was directed to pay a cost of Rs. 10,000 to the Prime Minister's National Relief Fund.
The Tribunal held that the assessee is entitled to exemption under Section 10(10B) for the compensation received under the BSNL VRS scheme. The Assessing Officer was directed to grant the relief.
The Tribunal set aside the order of the CIT(A) and restored the matter to the Assessing Officer (AO). The AO was directed to verify the assessee's contention that the input tax credit was not claimed as an expense and grant relief if admissible.
The Tribunal held that the compensation received under the BSNL VRS-2019 scheme is eligible for exemption under Section 10(10B) of the Act. The Assessing Officer was directed to grant the relief to the assessees.
The Tribunal held that the Revenue's appeal was baseless as the assessee had advanced money through banking channels from disclosed sources and received a portion back through banking channels. The Tribunal found no merit in adding both the advanced and received amounts.
The Tribunal condoned the delay in filing the appeal, holding that the compensation received under BSNL VRS-2019 is exempt under Section 10(10B) of the Act, similar to previous rulings. The Assessing Officer was directed to grant the refund.
The Tribunal held that the compensation received under the BSNL VRS-2019 scheme is eligible for exemption under Section 10(10B) of the Act. The Assessing Officer was directed to grant the relief to the assessees.
The Tribunal held that the compensation received under the BSNL VRS-2019 scheme is eligible for exemption under Section 10(10B) of the Income-tax Act. The Assessing Officer was directed to grant the appropriate relief to the assessee.
The Tribunal held that a claim for deduction, even if disallowed, does not automatically amount to misreporting of income unless the revenue proves deliberate misrepresentation or false evidence. The Tribunal also noted the AO's failure to specify the limb of Section 270A(9) under which the penalty was levied.
The Tribunal held that the compensation received under the BSNL VRS-2019 scheme is eligible for exemption under Section 10(10B). The Assessing Officer was directed to grant the relief to the assessees.
The Tribunal held that the compensation received under the BSNL VRS-2019 scheme is eligible for exemption under Section 10(10B) of the Income-tax Act. The Assessing Officer was directed to grant the appropriate relief to the assessee.
The Tribunal held that the lower authorities were not justified in disallowing the interest expenditure incurred for earning net interest income. The assessee had offered the net interest income for taxation, and the genuineness of the interest paid was not disputed.
The Tribunal condoned the delay in filing the appeal, holding that the compensation received under BSNL VRS-2019 is exempt under Section 10(10B) of the Act, similar to previous rulings. The Assessing Officer was directed to grant the refund.
The Tribunal held that the compensation received under the BSNL VRS-2019 scheme is eligible for exemption under Section 10(10B) of the Income-tax Act. The Assessing Officer was directed to grant the appropriate relief to the assessee.
The Tribunal held that the compensation received under the BSNL VRS-2019 scheme is eligible for exemption under Section 10(10B) of the Income-tax Act. The Assessing Officer was directed to grant the appropriate relief to the assessee.
The ITAT set aside the CIT(A)'s order and restored the issues to the Assessing Officer for fresh adjudication. The assessee was granted another opportunity to present its case with proper documentation and submissions.
The Tribunal held that claiming a deduction, even if inadmissible, does not automatically amount to misreporting of income. Unless the Revenue proves deliberate misrepresentation or false particulars, penalty for misreporting is unsustainable.
The Tribunal held that claiming a deduction, even if disallowed, does not automatically amount to misreporting of income. The penalty for misreporting under Section 270A was deleted as the assessee had disclosed the donation and there was no evidence of deliberate misrepresentation or false particulars.
The Tribunal condoned the delay in filing the appeal before the CIT(A), finding the assessee's explanation to be bonafide. The matter was restored to the Assessing Officer for fresh adjudication on merits.
The Tribunal held that the compensation received under the BSNL VRS-2019 scheme is eligible for exemption under Section 10(10B) of the Act. The Assessing Officer was directed to grant the relief to the assessees.
The tribunal condoned the delay, set aside the CIT(A)'s order, and restored the matter to the Assessing Officer. The assessee was directed to pay a cost of Rs. 10,000 to the Prime Minister's National Relief Fund.
The Tribunal held that the compensation received under the BSNL VRS-2019 scheme is eligible for exemption under Section 10(10B) of the Act. The Assessing Officer was directed to grant the relief to the assessees.
The Tribunal condoned the delay in filing the appeal, set aside the impugned order, and restored the matter to the Assessing Officer. The assessee was directed to pay a cost of Rs. 10,000 to the Prime Minister's National Relief Fund.
The Tribunal held that the compensation received under the BSNL VRS-2019 scheme is eligible for exemption under Section 10(10B) of the Income-tax Act. The Assessing Officer was directed to grant the appropriate relief to the assessee.
The Tribunal observed that such applications are often rejected in bulk without proper opportunity. Therefore, the CIT(E) was directed to provide an adequate opportunity to the assessee to present its case and decide the matter on merits.
The Tribunal held that the reopening was based on vague information and the addition was made without proper substantiation. The assessee had disclosed the loan and offered interest income for taxation.
The Tribunal held that the AO incorrectly treated the assessee as an 'AOP' because the assessee was subsequently granted registration under section 12AB. The matter was set aside to the AO to reframe the assessment in the correct status and allow admissible exemptions.
The Tribunal held that the notice issued under Section 148 of the Act was invalid as it was issued beyond the surviving period, as per the decision of the Hon'ble Apex Court in the case of Rajiv Bansal. Consequently, the appeal was allowed on this legal ground.
The Tribunal found that the AO had not properly appreciated the factual grounds. The matter was restored to the AO for fresh verification of the reconciliation difference and for a decision on plantation expenses after providing adequate opportunity to the assessee.
The Tribunal held that the AO was not justified in ignoring the assessee's request to refer the matter to the Departmental Valuation Officer (DVO) and in not providing a reasoned finding. Therefore, the addition made by the AO and confirmed by the CIT(A) was not sustainable.
The Tribunal held that the Rs. 10,00,000/- transaction was a separate loan that was refunded within two months, not an unexplained cash credit. It also found that the Rs. 14,20,000/- deposits were explained by prior cash withdrawals and agricultural income.
The Tribunal condoned the delay in filing the appeal, subject to a cost deposit, and restored the matter to the Assessing Officer for a de-novo assessment. The assessee is to provide proof of deposit to the AO for fresh assessment.
The Tribunal accepted the assessee's application to withdraw the appeal. The appeal was dismissed as withdrawn.
The Tribunal held that the assessee had complied with the requirements of the CBDT Circular by proving possession of sufficient resources. The CIT(A) wrongly ignored withdrawal entries and focused only on credit entries, thus the impugned order was set aside.
The Tribunal condoned the delay in filing the appeal before the CIT(A) considering the inadvertent error and the bona fide belief of the assessee. The matter was restored to the AO for verification of the assessee's contentions.
The Tribunal held that the CIT(A) was not justified in dismissing the appeal due to limitation, considering the assessee's pursuit of remedies before the AO and the admitted mistake by the revenue. The AO was directed to grant the deduction.