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133 orders · Page 3 of 3
The Tribunal upheld the CIT(A)'s deletion of disallowances under Section 40(a)(ia) as payments were to individual laborers with vouchers less than Rs. 20,000, thus not attracting TDS provisions. The Tribunal found no reason to interfere with the CIT(A)'s decision on this matter.
The Tribunal upheld the CIT(A)'s deletion of disallowances under Section 40(a)(ia) as payments were to individual laborers with vouchers less than Rs. 20,000, thus not attracting TDS provisions. The Tribunal found no reason to interfere with the CIT(A)'s decision on this matter.
The Tribunal upheld the CIT(A)'s deletion of disallowances under Section 40(a)(ia) as payments were to individual laborers with vouchers less than Rs. 20,000, thus not attracting TDS provisions. The Tribunal found no reason to interfere with the CIT(A)'s decision on this matter.
The Tribunal upheld the CIT(A)'s deletion of disallowances under Section 40(a)(ia) as payments were to individual laborers with vouchers less than Rs. 20,000, thus not attracting TDS provisions. The Tribunal found no reason to interfere with the CIT(A)'s decision on this matter.
The Tribunal upheld the CIT(A)'s deletion of disallowances under Section 40(a)(ia) as payments were to individual laborers with vouchers less than Rs. 20,000, thus not attracting TDS provisions. The Tribunal found no reason to interfere with the CIT(A)'s decision on this matter.
The Tribunal held that due to the non-production of records and the failure to demonstrate satisfaction by the Assessing Officer, the assessment orders passed under Section 153C were invalid and quashed. The revenue's appeal was dismissed as it did not survive the quashing of the assessment order and due to low tax effect.
The Tribunal held that due to the non-production of records and the failure to demonstrate satisfaction by the Assessing Officer, the assessment orders passed under Section 153C were invalid and quashed. The revenue's appeal was dismissed as it did not survive the quashing of the assessment order and due to low tax effect.
The Tribunal admitted the additional ground regarding limitation as it was a legal issue. It also held that two companies, Coral Hubs Limited and Wipro Ltd., should be excluded from the list of comparables due to functional differences and ownership of intangibles, respectively. Interest under Section 234B was directed to be consequential, and under Section 234C on returned income.
The Tribunal found that the CIT(A)'s order was cryptic and lacked a proper comparison of facts with the cited Supreme Court case. Therefore, the matter was restored to the CIT(A) for a fresh decision.
The Tribunal held that transfer pricing grounds related to Australian entities were not pressed. For non-Australian entities, the same rate as per the MAP resolution for Australian entities should be adopted. The corporate tax issue regarding Section 10A deduction was decided in favour of the assessee.
The Tribunal upheld the CIT(A)'s deletion of disallowances under Section 40(a)(ia) as payments were to individual laborers with vouchers less than Rs. 20,000, thus not attracting TDS provisions. The Tribunal found no reason to interfere with the CIT(A)'s decision on this matter.
The Tribunal held that transfer pricing grounds related to Australian entities were not pressed. For non-Australian entities, the same rate as per the MAP resolution for Australian entities should be adopted. The corporate tax issue regarding Section 10A deduction was decided in favour of the assessee.
The Tribunal held that the assessee had sufficiently proved the identity, genuineness of the transaction, and prima facie creditworthiness of the investor. The Assessing Officer's objection based on the investor's past losses was not considered valid given the evidence presented.
The Tribunal held that the assessee failed to provide any evidence to substantiate the gifts from her sons, such as proof of conversion of foreign currency or details of remittances. The claim of savings was also rejected as prior deposits of Rs. 6,00,000/- in the preceding year were not explained.
The Tribunal found merit in the assessee's explanation for non-compliance and decided to restore the matter to the CIT(A) for a fresh decision. The assessee was to be provided with an adequate opportunity of being heard.
The Tribunal held that the appeals filed by the Revenue were not maintainable due to the low tax effect, as per the CBDT circulars. The circulars were also applicable retrospectively to pending appeals.
The Tribunal held that the appeals filed by the Revenue were not maintainable due to the low tax effect, as per the CBDT circulars. The circulars were also applicable retrospectively to pending appeals.
The Tribunal noted that the assessee had furnished invoices before the CIT(A) which were not considered. Therefore, the matter was restored to the AO for fresh examination.
The Tribunal, following the Karnataka High Court's decision in CIT(Exemption) Vs. Jyothy Charitable Trust, held that the carry forward and set off of earlier years' deficit/expenditure against current year's income is permissible. The AO was directed to allow the assessee's claim.
The Tribunal restored the disputed issue to the file of the CIT(A) for fresh adjudication, allowing the assessee an opportunity to present their case. The stay petition was dismissed as infructuous.
The Tribunal found that the DRP's order was cryptic and lacked detailed reasoning for rejecting the CUP method. Therefore, the matter was remanded back to the DRP for a fresh examination of the most appropriate method, with an opportunity for the assessee to be heard.
The Tribunal acknowledged the possibility of cash dealings between father and daughter, giving some credence to their admissions. It directed the AO to accept the explanation to the tune of Rs. 10.00 lakhs and sustain the addition for the balance amount.
The Tribunal held that only investments yielding exempt income should be considered for calculating the disallowance under Section 14A read with Rule 8D(2)(iii). The issue was restored to the AO for recalculation.
The Tribunal held that while the excess payment over the capital account balance could be considered capital gains, the computation needed to include the value of goodwill. After re-computation, the capital gain was less than the Rs. 50 lakhs invested in specified bonds, making it exempt under Section 54EC.
The Tribunal held that only investments yielding exempt income should be considered for calculating the disallowance under Section 14A read with Rule 8D(2)(iii). The issue was restored to the AO for recalculation.
The tribunal restored the issue of disallowance under Section 40(a)(ia) to the AO for fresh examination. It upheld the disallowance of ROC charges and confirmed the CIT(A)'s disallowance of prior period expenses.
The Tribunal condoned the delay in filing the appeal. It held that depreciation is allowable for charitable institutions in computing income for Section 11 purposes, as it's a normal commercial deduction and not a double benefit. The amendment to Section 11(6) is prospective.
The Tribunal held that the provision for future expenses was an ascertained liability, not a contingent one, as the assessee had provided scientific and reasonable basis for the estimation. Therefore, the deduction was allowable.
The Tribunal found that the CIT(A) passed orders ex-parte due to the assessee's repeated adjournments. Therefore, the Tribunal set aside the CIT(A)'s orders and restored them for fresh adjudication, ensuring the assessee gets a proper opportunity to be heard.
The Tribunal held that the provision of corporate guarantee is an international transaction requiring examination under arm's length principles. It also held that no disallowance under Rule 8D(2)(ii) is required when own funds exceed investments, and disallowance under Rule 8D(2)(iii) should consider only investments yielding exempt income.
The Tribunal found the assessee's errors to be genuine and acknowledged the Tribunal's power to admit such claims. The CIT(A)'s rejection was deemed unjustified.
The Tribunal found that the assessee had provided affidavits from agents and details of disbursements, which were supported by accounts. Therefore, the CIT(A) was not justified in rejecting the assessee's contentions.
The Tribunal found that the AO did not examine whether there was a corresponding movement of goods for sales. It also noted that the cost of goods sold should be deducted from the sales amount, which was overlooked. Therefore, the issue requires fresh examination.