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114 orders · Page 1 of 3
The Tribunal held that expenses reduced from export turnover must also be reduced from total turnover, following the jurisdictional High Court's decision. Therefore, the CIT(A)'s order was upheld.
The Tribunal found reasonable cause for the assessees' non-appearance and set aside the CIT(A)'s orders. The matter was remanded to the CIT(A) to consider the condonation of delay application and decide the appeals on merits if the delay is condoned.
The Tribunal admitted the assessee's additional grounds challenging the validity of the reassessment proceedings. The matter was set aside and restored to the file of the CIT(A) for fresh consideration on the validity of the reopening.
The Tribunal held that the notice issued by the AO for initiating penalty proceedings was invalid because it did not specify the nature of the default (concealment or inaccurate particulars). Consequently, the penalty proceedings and the penalty levied were also deemed invalid.
The Tribunal held that the payment for water was for the supply of goods, not for carrying out work, and thus Section 194C was not applicable. Furthermore, the Tribunal found that the assessee did not claim the water charges as a deduction, negating the applicability of Section 40(a)(ia).
The Tribunal held that depreciation is allowable on assets even if their cost was claimed as application of income, as per Karnataka High Court rulings. It also held that unabsorbed deficits can be carried forward for application in subsequent years, following co-ordinate bench decisions.
The Tribunal found that the DRP had erred in not admitting the additional evidence filed by the assessee, similar to previous years. Consequently, the Tribunal set aside the DRP's order and restored the matter to the AO/TPO for fresh adjudication after providing an opportunity to the assessee.
The Tribunal held that even if the assessee agreed to a disallowance amount, they are still entitled to the benefit of subsequent judicial decisions that restrict such disallowance to the quantum of exempt income. The Tribunal followed a previous ruling on this matter.
The Tribunal noted that the amount was not written off and the CIT(A) granted relief based on confirmation letters. However, the genuineness, creditworthiness, and identity of creditors were not sufficiently proven before the AO.
The Tribunal found merit in the assessee's submission that an effective opportunity of hearing was not provided. Therefore, the order of the CIT(A) was set aside and the matter was restored for a fresh decision.
The Tribunal restored the matters back to the AO for fresh consideration. This was based on the submission that the AO had not taken into account the expenditure incurred by the assessee for development, and that similar matters of co-owners were sent back to the AO for fresh decision.
The Tribunal held that since the CIT(A) followed the jurisdictional Tribunal's order in the assessee's own case, and there was no information that this order was reversed by a higher court, the CIT(A)'s order was not infirm. The appeal of the Revenue was dismissed.
The Tribunal held that the lease rental income earned by the assessee from warehouses constitutes business income, following a co-ordinate bench decision in the assessee's own case. Therefore, the grounds raised by the Revenue were dismissed.
The Tribunal restored the matter to the AO for fresh decision, acknowledging that the AO had not considered the expenditure incurred by the assessee for land development. The Tribunal referred to a previous ITAT order where similar matters were sent back to the AO for fresh consideration.
The Tribunal upheld the CIT(A)'s decision, agreeing that expenses incurred in foreign currency, if excluded from export turnover, must also be excluded from total turnover for calculating Section 10A deductions. The Revenue's appeals were dismissed.
The Tribunal restored the matters back to the AO for fresh consideration. This was based on the submission that the AO had not taken into account the expenditure incurred by the assessee for development, and that similar matters of co-owners were sent back to the AO for fresh decision.
The Tribunal held that the issue of whether the 15% accumulation under Section 11(1)(a) should be calculated on gross or net receipts was covered by previous decisions. The Tribunal confirmed the order of the CIT(Appeals) which followed the jurisdictional High Court's judgment.
The Tribunal found that the CIT had not properly appreciated the evidence filed and had summarily dismissed the application without adjudicating on merits. The CIT also failed to provide further opportunities to the assessee after receiving incomplete details.
The Tribunal found that the CIT(A) had followed the Supreme Court judgment without comparing the facts of the present case. Therefore, the matter was restored back to the CIT(A) for a fresh decision after a proper factual comparison.
The Tribunal restored the matter to the AO for a fresh decision. This was done to provide the assessee with a fair opportunity to cross-examine the individual whose statement was relied upon by the AO, and to furnish the relevant details.
The Tribunal held that payments for software licenses constitute royalty under Section 9(1)(vi) of the Income-tax Act and the relevant DTAA. The Tribunal distinguished the case from sales tax matters and emphasized the legislative intent to widen the scope of royalty.
The Tribunal held that payments for software licenses constitute royalty under Section 9(1)(vi) of the Income-tax Act and the relevant DTAA. The Tribunal distinguished the case from sales tax matters and emphasized the legislative intent to widen the scope of royalty.
The Tribunal held that the issue of whether the 15% accumulation under Section 11(1)(a) should be calculated on gross or net receipts was covered by previous decisions. The Tribunal confirmed the order of the CIT(Appeals) which followed the jurisdictional High Court's judgment.
The Tribunal restored the matter to the CIT(A) for a fresh decision. The CIT(A) was directed to examine the facts of the present case in light of two conflicting High Court judgments and decide accordingly.
The Tribunal held that commission and locker rent received in advance, provision for bad debts, and unrealized gains on revaluation of forex forward contracts are not taxable in the year of receipt/revaluation. Depreciation on investments was allowed as a revenue loss.
The Tribunal held that while not forwarding Form 15G/15H to the CIT is a technical breach, it doesn't automatically make the assessee liable for TDS default if the forms were indeed obtained. The issue of whether the forms were obtained was remitted back to the TDS Officer for verification.
The Tribunal held that the appeal should not have been pressed by the Revenue as the tax effect was below the monetary limit prescribed by CBDT circulars. The appeal was dismissed as withdrawn/not pressed.
The Tribunal confirmed the CIT(A)'s order, holding that the payments made by the assessee society to the developer were for the purchase of developed sites and not for a works contract. Therefore, no TDS was required under Section 194C.
The Tribunal found that the assessee had indeed furnished the necessary evidence, but the CIT failed to consider it. Therefore, the matter was remanded back to the CIT for fresh adjudication.
The Tribunal upheld the CIT(A)'s order, following the Kerala High Court's judgment in Meenachil Rubber Marketing and Processing Co-operative Society Ltd. The Tribunal held that 'marketing' is a broad term that includes processing, and therefore, the assessee's activities were covered under Section 80P(2)(a)(iii).
The Tribunal upheld the CIT(Appeals)'s decision to delete the disallowance under Rule 8D(2)(ii) based on the assessee having sufficient interest-free funds. It also concurred with the restriction of disallowance under Rule 8D(2)(iii) to investments yielding exempt income.
The Tribunal found that the CIT(Appeals) admitted additional evidence without confronting it to the AO, violating Rule 46A of the IT Rules. Therefore, the CIT(Appeals)'s findings based on this evidence were set aside.
The Tribunal held that for an entity to be considered a cooperative bank, it must possess a license from the Reserve Bank of India. Since the assessee society did not have such a license, it could not be classified as a cooperative bank and was therefore eligible for the deduction under Section 80P.
The Tribunal held that while not forwarding Form 15G/15H to the CIT is a technical breach, it doesn't automatically make the assessee liable for TDS default if the forms were indeed obtained. The issue of whether the forms were obtained was remitted back to the TDS Officer for verification.
The Tribunal confirmed the order of the CIT(A) after examining the rival submissions. The Tribunal found no infirmity in the CIT(A)'s adjudication of the issue raised before it.
The Tribunal found that the lower authorities had not properly adjudicated the issue, failing to consider the evidence and provide reasoned orders. The CIT(A) had confirmed the AO's addition without proper application of mind to the assessee's detailed submissions.
The Tribunal followed its order from the previous year, restoring the matter to the Assessing Officer. The AO is directed to re-examine the issue with additional evidence and provide an opportunity for a hearing to the assessee.
The Tribunal held that payments for software licenses constitute royalty under Section 9(1)(vi) of the Income-tax Act and the relevant DTAA. The Tribunal distinguished the case from sales tax matters and emphasized the legislative intent to widen the scope of royalty.
The Tribunal held that the appeal should not have been pressed by the Revenue in light of CBDT Circular No. 21/2015, which sets monetary limits for filing appeals. The Tribunal dismissed the appeal as withdrawn/not pressed.
The Tribunal found that the assessee had indeed furnished the necessary evidence, but the CIT failed to consider it. Therefore, the matter was remanded back to the CIT for fresh adjudication.
The Tribunal found that it was unclear whether notices were sent to the assessee or their CA, and the assessee had provided both addresses. Considering the assessee's foreign residence and the potential lack of proper opportunity, the matter was restored to the CIT(A) for a fresh decision.
The Tribunal held that the payment for imported software was royalty, as clarified by the Karnataka High Court in the Samsung Electronics case prior to the Finance Act, 2012 amendment. Therefore, TDS was required to be deducted.
The Tribunal held that payments for software licenses constitute royalty under Section 9(1)(vi) of the Income-tax Act and the relevant DTAA. The Tribunal distinguished the case from sales tax matters and emphasized the legislative intent to broaden the definition of royalty.
The Tribunal found that while the genuineness of commission payments was a valid reason to reject books, the profit estimation rate was not properly determined. The issue of profit rate estimation was remitted back to the AO for reconsideration.
The Tribunal directed the AO/TPO to re-examine the list of comparable companies for transfer pricing adjustments. Regarding the corporate tax issue, the Tribunal held that interest income earned on short-term investments of surplus funds by a 100% export-oriented unit is eligible for deduction under Section 10A.
The Tribunal upheld the CIT(A)'s decision, finding that the assessee HUF could not demonstrate how it was an aggrieved person against an assessment order passed in the hands of an individual. Therefore, no interference was called for.
The Tribunal upheld the CIT(A)'s decision, finding that the assessee HUF could not demonstrate how it was an aggrieved person against an assessment order passed in the hands of an individual. Therefore, no interference was called for.
The Tribunal condoned the delay in filing the appeal. It held that the interest earned on deposits made from the society's surplus funds was eligible for deduction under Section 80P, following a Karnataka High Court judgment.