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77 orders · Page 2 of 2
The Tribunal upheld the CIT(A)'s order, noting that the SLP filed by the department against the jurisdictional High Court's judgment was dismissed by the Supreme Court. Therefore, the CIT(A)'s finding was consistent with the law.
The Tribunal held that the issue was squarely covered by its own previous orders in the assessee's own case. The credit card charges were considered as normal bank charges and not commission or brokerage for acting on behalf of the merchant establishment.
The Tribunal found that the assessee was not afforded sufficient time to file objections to the DVO's report and that the issue required proper adjudication by the AO. Therefore, the matter was set aside and restored to the AO for fresh adjudication.
The Tribunal upheld the CIT(A)'s order, stating that the assessee is a co-operative society providing credit facilities to its members and not a co-operative bank exclusively carrying on banking business. Therefore, the benefit of Section 80P is applicable.
The Tribunal held that the assessee failed to discharge its burden under Section 68 by not proving the identity, creditworthiness, and genuineness of cash credits. Regarding bad debts, the Tribunal found that the assessee did not demonstrate actual write-off in its books of account after the amendment of Section 36(1)(vii).
The Tribunal held that the assessee failed to discharge its burden under Section 68 by not proving the identity, creditworthiness, and genuineness of cash credits. Regarding bad debts, the Tribunal found that the assessee did not demonstrate actual write-off in its books of account after the amendment of Section 36(1)(vii).
The Tribunal restored the TP issue to the CIT(A) for a fresh decision due to a cryptic order. It disallowed the risk adjustment claim due to lack of working and upheld the CIT(A)'s order on Section 10A deduction, following a High Court judgment.
For AY 2006-07, the appeal was dismissed as the CIT's order under Section 263 had attained finality. For AY 2007-08 and 2008-09, certain miscellaneous income items were held to reduce business costs and thus not be reduced from profit for deduction calculation, while other items were correctly reduced.
For AY 2006-07, the appeal was dismissed as the CIT's order under Section 263 had attained finality. For AY 2007-08 and 2008-09, certain miscellaneous income items were held to reduce business costs and thus not be reduced from profit for deduction calculation, while other items were correctly reduced.
The Tribunal found that the AO did not properly examine the assessee's explanation for the cash deficit and the revised cash book. Therefore, the issue was set aside to the AO for proper verification and examination.
The Tribunal found that the CIT(Appeals) order was indeed ex-parte. In the interest of justice, the Tribunal set aside the CIT(Appeals) order and restored the matter for a fresh decision, granting the assessee an adequate opportunity to be heard.
The Tribunal found that the CIT(A)'s order did not indicate any notice of hearing was issued to the assessee. Therefore, in the interest of justice, the matter was restored to the CIT(A) for a fresh decision after providing adequate opportunity to both parties.
The Tribunal held that the assessee failed to establish the identity, creditworthiness, and genuineness of the loan transaction as required by law. The matter was restored to the AO for a fresh decision.
For AY 2006-07, the appeal was dismissed as the CIT's order under Section 263 had attained finality. For AY 2007-08 and 2008-09, certain miscellaneous income items were held to reduce business costs and thus not be reduced from profit for deduction calculation, while other items were correctly reduced.
The Tribunal held that since the substantive assessment of the deemed dividend in the hands of Shri M. N. Jahanath was confirmed by a coordinate bench, the revenue's appeals against the protective additions in the assessee's hands became infructuous.
The Tribunal held that since the substantive assessment of the deemed dividend in the hands of Shri M. N. Jahanath was confirmed by a coordinate bench, the revenue's appeals against the protective additions in the assessee's hands became infructuous.
The Tribunal set aside the order of the CIT(A) and remanded the matter back for reconsideration. The assessee was directed to pay any deficiency in self-assessment tax after verification of their TDS claim.
The Tribunal, following the jurisdictional High Court's decision in CIT vs. Rittal India Pvt. Ltd., held that additional depreciation is a beneficial provision and can be claimed in the subsequent year if not fully utilized in the year of installation due to less than 180 days of use.
The Tribunal confirmed the estimated income based on earlier years' profit margins after rejecting the assessee's books of accounts. However, it deleted the disallowance made under Section 40A(3) as it was based on rejected book results.
The Tribunal upheld the CIT(A)'s deletion of additions, finding that the amounts were related to investments and sale proceeds, not taxable income. The revenue failed to controvert the CIT(A)'s findings.
The Tribunal held that the requirement to get accounts audited under Section 44AB is independent of the method of accounting adopted by the assessee. The assessee's belief that audit was not required until project completion was not sustainable.
The Tribunal held that expenses excluded from export turnover should also be excluded from total turnover for Section 10A calculation. It also ruled that Section 10A deduction should be computed on a standalone basis for eligible units without adjusting losses from other units.
The Tribunal held that R Systems International Ltd. should be considered as a comparable, allowing for re-examination of its inclusion due to different financial year ends, provided data is available. It also directed appropriate risk and depreciation adjustments.
The Tribunal admitted additional evidence in the form of certificates of tax payment by the payees. The matter was remitted back to the Assessing Officer for re-examination in light of this new evidence.
The Tribunal found that the CIT(A)'s finding regarding the lack of separate books of account for the units required further examination. Therefore, the issue was remitted back to the AO for re-adjudication.