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115 orders · Page 2 of 3
The Tribunal held that the payments made by the assessee were indeed royalty, following its own previous orders and the jurisdictional High Court's decision in the assessee's own case. Consequently, the assessee was considered to be in default for non-deduction of TDS.
The Tribunal found that the CIT(A) noted the filing of written submissions but failed to refer to them in the operative part of the order. Therefore, the matter was restored to the CIT(A) for a fresh, reasoned decision.
The Tribunal held that the conversion of a proprietary concern into a private limited company, where the undertaking is taken over as a going concern, does not violate the conditions of Section 80IB. The Tribunal distinguished the case from the precedents relied upon by the AO and CIT(A).
The Tribunal held that the CIT(A) cannot remand the matter back to the AO for readjudication due to amendments in Section 251(1)(a). However, the CIT(A)'s decision on excluding expenditures was upheld as it followed jurisdictional High Court precedents.
The Tribunal held that the CIT(Appeals) erred in excluding comparables based on RPT filter without a specific ground from the assessee. It also held that the assessee is not eligible for a 5% standard deduction from ALP due to the retrospective amendment inserting Section 92C(2A).
The Tribunal decided that fall in the value of investments held by a banking company should be treated as part of business income and allowed as a deduction. It also ruled in favor of the assessee on issues related to Section 115JB and Section 14A for certain assessment years.
The Tribunal held that the addition for unexplained investment was justified as the assessee failed to provide a credible explanation. It also held that the assessee was not eligible for Section 54G exemption because the factory was not located in a notified urban area.
The Tribunal condoned the delay in filing one appeal, finding it to be bonafide. The CIT(A) had not adjudicated the issues properly, so the matter was restored to the CIT(A)'s file for fresh adjudication. The appeal against the rectification order was dismissed as infructuous.
The Tribunal held that the additions were not based on any seized material, rendering the assessment under section 153C invalid. The relief granted by the CIT(A) regarding bad debts was also upheld as it was in accordance with settled law.
The Tribunal found that the CIT(A) enhanced the assessment without providing a proper opportunity to the assessee and that the CIT(A) did not give findings on all issues raised. Therefore, the matter was restored to the AO for fresh adjudication.
The Tribunal found that while Form 3CD indicated no additions, the P&L, Balance Sheet, and depreciation schedule suggested otherwise. The Tribunal decided to remand the matter back to the AO for fresh consideration of the facts and evidence regarding the purchase and use of assets.
The Tribunal held that the CIT(A) failed to consider the assessee's claim that TDS credit should be allowed across years as per Section 199(3) read with Rule 37BA(3)(ii). The matter was remanded for fresh adjudication.
The Tribunal held that the assessee's activities of transforming iron ore into fines qualified as 'manufacture' or 'production' under Section 10B. It also found that the merger did not violate the conditions for claiming the deduction.
The Tribunal restored the issue of depreciation to the AO for fresh examination, considering the valuation report and the AO's own allowance in the subsequent year. For transfer pricing issues, the Tribunal also restored the matter to the AO/TPO for re-examination based on the assessee's contentions regarding comparable selection.
The Tribunal held that the Assessing Officer (AO) had a duty to refer the matter to the District Valuation Officer (DVO) under Section 50C(2) even without a specific request from the assessee. The matter was restored to the AO for fresh adjudication after obtaining the DVO's report.
The Tribunal held that the warehouses are commercial assets and the rental income derived from them constitutes business income, following a previous decision in the assessee's own case.
The Tribunal restored the matter to the Assessing Officer (AO) for a fresh decision. This was to examine the facts in light of Karnataka High Court judgments which held that interest income from surplus funds not immediately required for lending to members is attributable to the business of banking and eligible for deduction under Section 80P.
The Tribunal found that the assessee had provided sufficient evidence, including quotations and payment vouchers, for the interior decoration expenses. The Tribunal set aside the CIT(A)'s order and restored the matter to the AO for a fresh decision.
The Tribunal found that the CIT(A) had not properly considered the factual aspects of the case, such as whether the invested funds were liabilities or own funds, and whether they were immediately required for lending. Therefore, the matter was restored to the CIT(A) for a fresh, reasoned decision.
The Tribunal held that the addition was made without confronting the assessee with the bank statement and obtaining their explanation. Therefore, the order of the CIT(A) was set aside.
The Tribunal held that the payments made by the assessee were indeed royalty, following its own previous orders and the jurisdictional High Court's decision in the assessee's own case. Consequently, the assessee was considered to be in default for non-deduction of TDS.
The Tribunal held that accumulation of income under Section 11(1)(a) should be allowed at 15% of gross receipts, not net receipts. This decision followed a co-ordinate bench ruling based on Supreme Court and Special Bench pronouncements.
The Tribunal held that replacing a part of an equipment, even if it is an engine, does not amount to bringing a new asset into existence and is allowable as revenue expenditure. The disallowance made by the AO was deleted.
The Tribunal held that deemed dividend under Section 2(22)(e) is not a distributed dividend and therefore not covered by Section 115-O. Consequently, the proviso to Section 194, which exempts dividends covered by Section 115-O from TDS, is not applicable.
The Tribunal held that while estimation of profit is permissible, it requires a valid basis. The AO's estimation was not justified as it did not consider the assessee's past profit margins. The matter was remanded for fresh estimation.
The Tribunal held that the Assessing Officer failed to satisfy the conditions mandated in Section 14A(2) read with Rule 8D(1) by not recording his satisfaction after examining the assessee's accounts. Therefore, the disallowance was set aside.
The Tribunal held that the Assessing Officer erred by restricting the deduction under Section 35(2AB) based on the DSIR report, as this requirement is not mandated by Section 35(2AB) itself. The matter was remanded for fresh examination.
The Tribunal upheld the CIT(A)'s decision, agreeing that rental income from a commercial property operated by the company should be assessed as business income, considering the company's objects.
The Tribunal condoned the delay of 183 days, finding that the assessee had sufficient cause and no malafide intention. The matter was restored to the CIT(Appeals) for adjudication on merits.
The CIT(A) allowed the assessee's appeal, holding that the Assessing Officer erred in recomputing the indexed cost of acquisition. The Tribunal upheld the CIT(A)'s order.
The Tribunal upheld the CIT(Appeals)'s order, following the Karnataka High Court's decision in CIT Vs. Yokogawa India Limited. It held that the deduction under Section 10A should be computed before setting off brought forward losses.
The Tribunal held that Section 40(a)(ia) applies to payments that are either outstanding or have been paid, and not just those 'payable'. The assessee's contention that the section only applies to outstanding payments was rejected.
The Tribunal held that deemed dividend under Section 2(22)(e) is not a distributed dividend and therefore not covered by Section 115-O. Consequently, the proviso to Section 194, which exempts dividends covered by Section 115-O from TDS, is not applicable.
The Tribunal found that the assessment was made ex-parte and the CIT(A) did not properly consider the additional evidence (valuation report). The matter was restored to the CIT(A) for a fresh decision after examining purchase and sale deeds and the valuation report.
The Tribunal found that the CIT(A) had not considered the reconciliation statement submitted by the assessee, which contained party-wise details of credit notes. Therefore, the order of the CIT(A) was set aside.
The Tribunal found that the assessee's affidavit indicated the addition was not made on an agreed basis. Therefore, in the interest of justice, the matter was restored to the CIT(A) for a decision on merit.
The Tribunal found that the assessee's affidavit indicated a misunderstanding regarding the agreement to additions. Therefore, in the interest of justice, the matter was restored to the CIT(A) for a decision on merits.
The Tribunal found that the assessee's affidavit indicated a misunderstanding regarding the agreement to additions. Therefore, in the interest of justice, the matter was restored to the CIT(A) to decide the issues on their merits.
The Tribunal found that the assessee's director's affidavit indicated a misunderstanding regarding the agreement. Therefore, in the interest of justice, the matter was restored to the CIT(A) to decide on merits.
The Tribunal found that the CIT(A) passed the order without considering the assessee's written submissions and documents. Therefore, in the interest of justice, the matter was restored to the CIT(A) for a fresh decision.
The Tribunal noted that the tax effect was below the threshold specified by CBDT instructions for filing appeals. Therefore, the appeal was dismissed as not maintainable.
The Tribunal followed the Karnataka High Court's decision in Tata Elxsi Ltd., stating that reducing an expense from export turnover automatically reduces the total turnover. Therefore, the CIT(A)'s direction was upheld.
The Tribunal restored the matter to the CIT(A) for fresh adjudication. This was to examine factual aspects in light of judgments from the Karnataka High Court and the Supreme Court regarding the nature of income and whether credit facilities were extended to outsiders.
The Tribunal restored the matter to the CIT(A) for fresh adjudication. This was to examine factual aspects in light of judgments from the Karnataka High Court and the Supreme Court regarding the nature of income and whether credit facilities were extended to outsiders.
The Tribunal restored the matter to the CIT(A) for fresh adjudication. This was to examine factual aspects in light of judgments from the Karnataka High Court and the Supreme Court regarding the nature of income and whether credit facilities were extended to outsiders.