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190 orders · Page 4 of 4
The Tribunal found that the assessee had sufficient cause for the delay in filing the appeal before the CIT(A) due to her reliance on a representative who became unavailable. Therefore, the delay was condoned, and the CIT(A)'s order was set aside to allow the appeal to be decided on merits.
The Tribunal set aside the CIT(A)'s order and restored the issues to the CIT(A)'s file. This was done to provide the assessee with an opportunity to present their case, in the interest of natural justice.
The Tribunal condoned the delay in filing the appeal for 80G. It restored both matters to the CIT (Exemption) for a fresh decision after providing the assessee with an adequate opportunity to be heard and present relevant material.
The Tribunal held that Section 80IA(5) overrides general provisions, meaning the eligible business's profits should be computed as if it were the sole source of income for determining the deduction. Regarding TDS, the Tribunal found that harvesting and transportation charges paid to farmers for sugarcane were part of the purchase price and not covered by Section 194C.
The Tribunal held that the issue of determining the operating profit margin of the assessee should be remanded to the TPO for fresh consideration. It also upheld the Dispute Resolution Panel's direction regarding the calculation of deduction under Section 10A and directed the AO to grant MAT credit and verify advance tax credit.
The Tribunal condoned the delay in filing the appeal. The Tribunal dismissed the appeal as the tax effect was below Rs. 50 lakhs, which is covered by CBDT Circular No. 17/2019.
The Tribunal held that while the late filing fee under Section 234E could be waived based on jurisdictional High Court decisions, the TDS return should not be treated as nonest for non-payment of the fee before filing. The CIT(A)'s order to treat the return as nonest was set aside.
The Tribunal found merit in the assessee's argument that comparable companies should be engaged in the same product line (gherkins). It directed the AO/TPO to re-examine the transfer pricing by considering the companies suggested by the assessee. The Tribunal also directed that export incentives should be considered part of operating income.
The Tribunal considered the Revenue's request for withdrawal based on CBDT circulars regarding low tax effect. The appeals were dismissed in limine.
The Tribunal set aside the CIT(E)'s order, stating that in the interest of natural justice, the assessee should be given another opportunity. The CIT(E) was directed to process the application afresh.
The Tribunal held that the assessee violated the provisions of the Karnataka Co-operative Societies Act, 1959, by having an excess number of associate members. Consequently, the assessee was not eligible for the deduction under Section 80P.
The Tribunal condoned the delay in filing the appeal. However, it dismissed the appeal based on CBDT Circular No. 17/2019, which stipulates that no appeal should be filed where the tax effect is below Rs. 50 lakhs.
The Tribunal held that societies registered under the Karnataka Souharda Sahakari Act, 1997, are indeed cooperative societies for the purpose of Section 80P. Therefore, the denial of deduction solely on the ground of registration under this Act is unsustainable.
The Tribunal held that the deduction cannot be denied merely because the approval was subsequently withdrawn, as per the explanation to Section 35(1)(ii). The disallowance made by the AO was deleted.
The Tribunal held that societies registered under the Karnataka Souharda Sahakari Act, 1997, are indeed cooperative societies for the purpose of Section 80P. Therefore, the denial of deduction solely on the ground of registration under this Act is unsustainable.
The Tribunal held that while the assessee's claim of taxing only 15% gross profit was rejected, the matter should be remanded to the AO to examine if certain purchases remained unaccounted for, which could reduce the taxable income.
The Tribunal found that the AO did not address the issue of deposits in the capital gains account scheme, and the addition made by the AO was not clearly linked to the revised claim. Therefore, the matter was restored to the AO for fresh examination.
The Tribunal condoned the delay in filing the appeal for 80G. It restored both matters to the CIT (Exemption) for a fresh decision after providing the assessee with an adequate opportunity to be heard and present relevant material.
The Tribunal is analyzing the TPO's reallocation of expenses and the selection of comparable companies to determine the ALP. The case involves the application of the Transactional Net Margin Method (TNMM).
The Tribunal found the CIT(A)'s decision on idle capacity adjustment to be cryptic and lacking in detailed consideration of the assessee's submissions and the newly submitted affidavit. The Tribunal restored the matter to the CIT(A) for a fresh decision.
The Tribunal held that the issue of determining the operating profit margin of the assessee should be remanded to the TPO for fresh consideration. It also upheld the Dispute Resolution Panel's direction regarding the calculation of deduction under Section 10A and directed the AO to grant MAT credit and verify advance tax credit.
The Tribunal held that Section 80IA(5) overrides general provisions, meaning the eligible business's profits should be computed as if it were the sole source of income for determining the deduction. Regarding TDS, the Tribunal found that harvesting and transportation charges paid to farmers for sugarcane were part of the purchase price and not covered by Section 194C.
The Tribunal restored the issue of exemption under Section 11 back to the CIT(A) for a fresh decision, finding that the CIT(A) had proceeded on a wrong premise. Regarding depreciation, the Tribunal upheld the CIT(A)'s decision to allow it, distinguishing the case from the Supreme Court's ruling in Escorts Ltd. and noting the amendment to Section 11(6) was prospective.
The Tribunal restored the issue to the Assessing Officer for verification of agreements to determine if land acquisition was compulsory and if TDS under Section 194LA was applicable. The assessee was directed to cooperate and provide necessary information.
The Tribunal held that the revenue's appeal was not maintainable due to low tax effect. The assessee's counsel pointed out that the tax effect of the relief granted by the CIT(A) would be below Rs. 50 Lakhs, a threshold for maintaining appeals as per CBDT instructions.
The Tribunal held that the additional evidence sought to be filed by the assessee before the CIT(A) should be admitted. The matter was restored back to the CIT(A) for a fresh decision after considering the additional evidence.
The Tribunal held that the assessee's claim of not receiving complete investigation reports and not being afforded cross-examination opportunities was valid. Therefore, the matter was restored to the AO for fresh adjudication.
The Tribunal held that the valuation report submitted by the assessee was rightly rejected by the AO. The AO's rejection was based on valid reasons, including the valuer's reliance on residential site rates and comparisons with areas within city limits, whereas the impugned land was industrial and located outside city limits. The Tribunal also held that the AO's method of determining FMV based on backward calculation from 1989 sub-registrar rates was not sustainable, as it was held in *Jawajee Naganathan* and *Dr D D Mundra* that sub-registrar rates cannot be considered as fair market value. Furthermore, sub-registrar rates for the relevant year (1981) were not available. The Tribunal noted that neither party could provide comparable sale instances of similarly placed land. Therefore, the Tribunal estimated the probable fair market value by taking 1/3rd of the rate determined by the approved valuer (Rs. 33.19 per sq. ft.), arriving at Rs. 11/- per sq. ft. The AO was directed to determine the FMV on this basis. The issue of natural justice was not explicitly decided but the Tribunal considered the available material.
The Tribunal noted that the High Court's decision in the Totgars case, relied upon by the revenue, dealt with a different claim under Section 80P(2)(d) and a different assessment period. The Tribunal found that the High Court's earlier decision in Tumkur Merchants Souharda Credit Co-operative Society Ltd. might still hold good regarding interest on temporary parking of surplus funds.
The Tribunal, while noting the assessee's non-cooperation, decided to grant one more opportunity in the interest of natural justice. A cost of Rs. 2000/- per year was imposed on the assessee.
The Tribunal, relying on Supreme Court judgments, held that the cooperative society's right to claim deduction under Section 80P(2)(a) is restricted to income earned from its regular members, based on the principle of mutuality.
The Tribunal held that the AO cannot question the commercial expediency of a company's decision regarding directors' remuneration. Following its own prior decision, the Tribunal directed the deletion of the disallowance.
The Tribunal held that the electronic appeal should relate back to the original manual filing date, as no defect memo was issued for the manual filing. Therefore, there was no delay in filing the appeal.
The Tribunal restored both issues to the file of the AO for fresh examination, directing the AO to consider the evidence furnished by the assessee. The AO was instructed to afford the assessee an adequate opportunity of being heard before taking a decision.
The Tribunal held that in the interest of natural justice, the assessee's prayer to consider the evidence deserves to be accepted. The order of the CIT(A) was set aside, and the issues were restored to the file of the AO.
The Tribunal held that disallowance under Section 14A is not warranted when no exempt income is earned, following the Delhi High Court's decision in Cheminvest Ltd. The CIT(A)'s order confirming the disallowance was set aside.
The Tribunal restored the issue of disallowance of deduction on interest income from bank deposits back to the AO for fresh examination. This was based on the principle that the AO should consider the facts in light of relevant High Court and Supreme Court judgments.
The Tribunal, in the interest of natural justice, set aside the CIT(A)'s order and restored the issues to the AO for fresh examination. The assessee was directed to fully cooperate with the AO and was imposed a cost of Rs. 5,000.
The Tribunal found merit in the assessee's contention that if the books of account were not rejected, the sources of bank deposits should be explained by those books. However, it directed the AO to re-examine the books and bank accounts.
The Tribunal held that disallowance of additional depreciation on computers should be allowed as a deduction against business profits under Section 10AA, following a coordinate bench decision.