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99 orders · Page 2 of 2
The Tribunal held that all conditions for invoking Section 2(22)(e) were met, and the amounts withdrawn were taxable as deemed dividend in the hands of the assessee. The assessee's contentions regarding the utilization of funds and reliance on case laws were rejected due to lack of supporting evidence.
The tribunal upheld the addition of deemed dividend, citing identical facts to a previous order. However, it directed the deletion of the addition related to the difference in income recognition, following the principle of consistency.
The Tribunal upheld the disallowance of depreciation, stating that while depreciation is allowable during a business lull, the assessee failed to provide evidence that the assets were used in another business.
The Tribunal held that capital gains on JDA should be computed based on the guidance value of the land as of the JDA date, following a jurisdictional High Court judgment and its own co-ordinate bench decisions. Future capital gains upon receiving possession would also be subject to tax.
The Tribunal held that since the CIT(A) had the jurisdiction to entertain the claims in appeal against the assessment order, the issue of the scope of Section 154 became irrelevant. The claims were also covered by binding precedents.
The Tribunal found that the RPT filter for certain companies was not adequately examined and the functional similarity of another company required fresh examination. Therefore, the matter was restored to the AO/TPO for a fresh decision.
The Tribunal held that while the income should have been accounted for in AY 2006-07 as per the mercantile system, to avoid double taxation, credit for the tax paid in AY 2007-08 should be allowed in the subsequent year. The addition made by the AO was confirmed.
The Tribunal considered various comparable companies for transfer pricing analysis. It directed the exclusion of certain comparables like Quippo Valuers and Auctioneers Private Limited and TSR Darashaw Ltd. due to functional dissimilarity and lack of segmental data, while upholding the inclusion of others.
The Tribunal held that the CIT(A) erred in confirming the addition on account of interest-free loans without proper consideration of the assessee's submissions. The Tribunal also noted that the sale of shares was not completed in the relevant assessment year.
The ITAT heard the appeal ex parte as the assessee did not appear. The Tribunal found no defect in the CIT(Appeals)'s order and confirmed it.
The Tribunal held that the appeals were not maintainable as the tax effect was below the monetary limit prescribed by Circular No. 21/2015. The Revenue did not dispute the tax effect or provide evidence of revenue audit objections.
The Tribunal held that notional income cannot be taxed and that the cash payment was made under extraordinary circumstances, thus not disallowable. The deletion of interest on the government loan was also confirmed.
The Tribunal held that for gifts, human probability, relationship, occasion, and donor creditworthiness are crucial. For property sale advances, the assessee failed to establish that these were accounted for as sale proceeds. Therefore, the additions were upheld.
The Tribunal held that notional income cannot be taxed and that the cash payment was made under extraordinary circumstances, thus not disallowable. The deletion of interest on the government loan was also confirmed.
The Tribunal found the CIT(A)'s order unsustainable due to the discrepancy in the basis of disallowance. The matter was restored to the CIT(A) for a fresh decision, considering the AO's objection that the payment was royalty.
The Tribunal held that while disallowance under Section 14A is not disputed, the computation must be done as per Rule 8D. The matter was restored to the Assessing Officer for recomputation.
The Tribunal held that notional income cannot be taxed and that the cash payment was made under extraordinary circumstances, thus not disallowable. The deletion of interest on the government loan was also confirmed.
The Tribunal rejected the assessee's application for condonation of delay, finding no reasonable cause for the delay. Consequently, the appeal was dismissed as being barred by limitation.
The Tribunal admitted the additional grounds and restored the matter to the CIT(A) for a fresh decision. The CIT(A) is to decide whether the assessment should have been completed under Section 143(3) or Section 144.
The Tribunal found that the CIT(A) rejected claims without examining creditors and without providing reasons. Therefore, the matter was restored to the AO for fresh adjudication after examining the creditors and providing an opportunity to the assessee.
The Tribunal upheld the CIT(A)'s decision that the Rs. 1.4 Crore was not fully earned in FY 2009-10. The CIT(A) correctly allowed the assessee's treatment of a portion as advance income.
The Tribunal held that the consultancy services rendered by MJR Consultancy Pte Ltd. were such that they made technical knowledge available to the assessee for its enduring benefit. Therefore, the payments were considered fees for technical services, and the assessee was liable for non-deduction of TDS.
The Tribunal held that the assessee failed to prove the creditworthiness of the grandfather, and the reliance on an affidavit alone was insufficient. The Apex Court judgment cited by the assessee was distinguished based on the facts of the case.
The Tribunal held that for gifts, human probability, relationship, occasion, and donor creditworthiness are crucial. For property sale advances, the assessee failed to establish that these were accounted for as sale proceeds. Therefore, the additions were upheld.
The Tribunal held that the disallowance under Section 40A(3) was not justified as the payments were made to a subsidiary bank of SBI. Therefore, the disallowance was deleted.
The Tribunal held that the assessee is entitled to depreciation, following jurisdictional High Court and Tribunal precedents. It also directed that fixed deposits made in scheduled banks are to be treated as part of accumulated funds and not disallowed.
The Tribunal held that the sale of hardware components cannot be considered part of the export turnover for Section 10A deduction. This is because the hardware and software were ordered and invoiced separately, and it was not established that the software could not function without the specific hardware.
The Tribunal found that the CIT(Appeals) was not competent to dismiss the appeal in limine and was obligated to dispose of it on merits. Therefore, the order of the CIT(Appeals) was set aside.
The Tribunal held that consultant doctors, due to fixed remuneration, fixed timings, and restrictive clauses in their agreements, were employees, making TDS under Section 192 applicable. However, for visiting doctors, payments were held to be professional fees subject to TDS under Section 194J.
The Tribunal held that consultant doctors, due to fixed remuneration, fixed timings, and restrictive clauses in their agreements, were employees, making TDS under Section 192 applicable. However, for visiting doctors, payments were held to be professional fees subject to TDS under Section 194J.
The Tribunal held that depreciation is allowable on assets of a charitable trust, as it is a necessary deduction for computing income under Section 11 and does not amount to double deduction. The Tribunal also held that providing interest-free loans to another similar trust, without any direct or indirect benefit to the trustees, does not attract the provisions of Section 13(1)(c).
The Tribunal held that the Assessing Officer exceeded the scope of remand by re-examining the exclusion of purchase price, which had attained finality. However, the disallowance under Section 40(a)(ia) was upheld following a jurisdictional High Court decision.
The Tribunal held that the disallowance of salary was not justified as the Assessing Officer failed to conduct an inquiry based on fair market value of services. However, the additions for unexplained differences in party accounts were upheld due to lack of evidence.
The Tribunal decided that 16 specific comparable companies, previously excluded in a similar case (M/s HPGS), should also be excluded in this case. The AO was directed to recalculate the transfer pricing adjustment after excluding these comparables.
The Tribunal held that consultant doctors, due to fixed remuneration, fixed timings, and restrictive clauses in their agreements, were employees, making TDS under Section 192 applicable. However, for visiting doctors, payments were held to be professional fees subject to TDS under Section 194J.
The Tribunal held that the assessee's participation in assessment proceedings indicated that the notice under Section 143(2) was indeed issued and served. The CIT(A)'s conclusion that the notice was not issued was considered perverse.
The Tribunal held that consultant doctors, due to fixed remuneration, fixed timings, and restrictive clauses in their agreements, were employees, making TDS under Section 192 applicable. However, for visiting doctors, payments were held to be professional fees subject to TDS under Section 194J.
The Tribunal restored the issue to the AO/TPO for a fresh decision, following a previous order for the A.Y. 2008-09. The assessee's cross-objection was deemed academic and dismissed.
The Tribunal held that companies with different financial year endings and those involved in related party transactions cannot be considered as proper comparables for determining the Arm's Length Price (ALP). It also noted that companies undergoing amalgamation during the relevant period are not suitable comparables.
The Tribunal found that the CIT(Appeals) had adjudicated all grounds in detail and no defects were pointed out in the CIT(Appeals) order. Therefore, the Tribunal confirmed the order of the CIT(Appeals).
The Tribunal found that the AO's addition in the first case was unclear regarding current year entries. In the second case, the Tribunal noted a lack of findings on property construction timing and ownership percentage. Therefore, both matters were remitted back to the AO for fresh examination.
The Tribunal held that the AO erred in relying on the signatory's denial without allowing the assessee an opportunity to cross-examine him. The matter was restored to the AO for fresh adjudication.
The Tribunal held that the first notice under Section 143(2) was not served within the prescribed period. Consequently, the assessment framed based on this invalid notice is bad in law and deserves to be quashed.
The Tribunal held that orders passed under sections 201(1) and 201(1A) for assessment years 2006-07, 2008-09, 2009-10, and 2010-11 were time-barred. For subsequent years, the appeals were dismissed, upholding the CIT(A)'s direction to consider 4% as the applicable service charge rate.
The Tribunal, following a coordinate bench decision which relied on Supreme Court and High Court judgments, held that the accumulation under Section 11(1)(a) should be allowed as claimed by the assessee based on gross receipts.
The Tribunal found that the CIT(A) had not properly decided the legal objections raised by the assessee. Therefore, the matter was restored to the CIT(A) for a fresh decision on these legal issues.
The tribunal set aside the ex parte orders of the CIT(A) and restored the matters back to his file for a fresh decision. The tribunal emphasized that if the assessees fail to comply again without justifiable reasons, the CIT(A) may pass ex parte orders.
The Tribunal held that the assessee had paid taxes on the admitted income declared in the original return, which was acted upon by the AO. Therefore, the CIT(Appeals) was wrong in dismissing the appeal on the ground of non-payment of taxes on the revised return.