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34 orders · Page 1 of 1
The Tribunal held that the issue of mutuality and treating entrance fees as capital receipts had been settled in the assessee's own case by the Jurisdictional Bench. Therefore, the addition made by the AO was deleted.
The Tribunal dismissed the appeal regarding higher depreciation, holding that it is only allowed for vehicles used in the transport business on hire. For the interest-free advances issue, the Tribunal remanded the matter back to the AO to allow the assessee an opportunity to file supporting documentary evidence.
The Tribunal held that the opportunity to cross-examine persons whose statements were relied upon by the AO was not provided to the assessee. The addition on account of LTCG was set aside and remanded to the CIT(A) for fresh adjudication. The addition for household expenses was deleted due to lack of justification. The disallowance for expenses was partly allowed, reducing the estimate.
The Tribunal dismissed the appeal regarding higher depreciation, holding that it is only allowed for vehicles used in the transport business on hire. For the interest-free advances issue, the Tribunal remanded the matter back to the AO to allow the assessee an opportunity to file supporting documentary evidence.
The Tribunal held that the opportunity to cross-examine persons whose statements were relied upon by the AO was not provided to the assessee. The addition on account of LTCG was set aside and remanded to the CIT(A) for fresh adjudication. The addition for household expenses was deleted due to lack of justification. The disallowance for expenses was partly allowed, reducing the estimate.
The Tribunal admitted the additional ground regarding Section 68 and found that the CIT(A) had not addressed the assessee's request for cross-examination. The Tribunal set aside the orders and remanded the appeals back to the CIT(A).
The Tribunal admitted the additional ground regarding Section 68 and found that the CIT(A) had not addressed the assessee's request for cross-examination. The Tribunal set aside the orders and remanded the appeals back to the CIT(A).
The Tribunal held that the additional evidence sought to be produced by the assessee was crucial for a proper decision. Therefore, the order of the CIT(A) was set aside.
The Tribunal held that while additions were made on an estimation basis, there was no reliable evidence to prove that the assessee had furnished inaccurate particulars or concealed income. Therefore, the penalty was not sustainable.
The Tribunal found that the assessee had sufficient reason for not appearing before the Assessing Officer due to shifting to the USA. Therefore, the matter was restored to the Assessing Officer for a fresh decision to provide the assessee an opportunity to present their case.
The Tribunal found that the amount was received by the assessee on behalf of two employees of Delica Foods as salary payment. Since the assessee's accounts were audited and this was duly accounted for, the addition was unjustified.
The Tribunal held that the assessee had sufficiently proved the source and reason for the deposits, as Shri Rajinder Singh confirmed the transaction and provided bank statements. The non-appearance of one intermediary was not sufficient to disregard the assessee's explanation.
The Tribunal found merit in the assessee's submission that they could provide evidence of loan utilization. The matter was restored to the Assessing Officer for fresh examination.
The Tribunal condoned the delay in filing the appeals subject to payment of costs. For the quantum appeal, the matter was restored to the Assessing Officer to verify if the expenditure exceeded 85% of income. For the penalty appeal, it was also restored to the AO for verification of income after expenditure, with no penalty leviable if the assessee's contention was correct.
The Tribunal found that the CIT(A)'s order was ex-parte and the assessee claimed non-receipt of hearing notices. To ensure justice, the Tribunal set aside the CIT(A)'s order and restored the matter for fresh decision.
The Tribunal held that being an authorized learning center for other universities is not sufficient grounds to deny exemption under Section 11, especially when the assessee is genuinely involved in educational activities and registered as a charitable institution. The Assessing Officer was directed to allow the claim subject to other conditions.
The Tribunal condoned the delay in filing the appeals subject to payment of costs. For the quantum appeal, the matter was restored to the Assessing Officer to verify if the expenditure exceeded 85% of income. For the penalty appeal, it was also restored to the AO for verification of income after expenditure, with no penalty leviable if the assessee's contention was correct.
The Tribunal held that a one-day delay in filing the return, due to technical glitches beyond the assessee's control and within the extended period of Section 139(4), should not disentitle the assessee from claiming deduction. The matter was restored to the Assessing Officer to examine eligibility for deduction under Section 80IC.
The Tribunal held that the assessee had discharged its primary burden by providing evidence of the transaction, including the director's statement and banking channel transactions. The AO's addition was based on suspicion regarding the source of funds of the creditor, which should not be held against the assessee.
The tribunal held that disallowance under Section 14A cannot exceed the exempt income earned. It also ruled that currency forward contracts for hedging are not speculative transactions and that the interest disallowance was not justified as the debit balance was for business purposes and the assessee had sufficient own funds.
The Tribunal partially allowed the appeal, reducing the addition on account of unexplained cash deposits and remanding the issue of Section 54 deduction for fresh consideration on merits. The Tribunal noted inconsistencies in the Assessing Officer's stand regarding the Section 54 deduction.
The Tribunal noted that the CIT(E) did not adequately record the assessee's response to queries or explain why it was not plausible. The Tribunal also observed that the assessee claimed to have provided all necessary documents, including notification of an archeological site.
The Tribunal accepted the assessee's alternate plea for peak credit, acknowledging the submissions made and the offer for taxation. The AO had initially confirmed the entire addition, rejecting the assessee's explanations.
The ITAT dismissed the appeal filed by the Revenue due to low tax effect, following CBDT Circular No. 3/2018 and a Punjab & Haryana High Court decision. The dismissal was not an affirmation of the CIT(A)'s order on merits.
The Tribunal found that the jurisdictional issue regarding the re-opening of assessment was not properly addressed by the lower authorities. The assessee had raised a valid objection about the non-communication of reasons for re-opening. Therefore, the matter was remanded back to the CIT(A).
The ITAT dismissed the Revenue's appeal due to low tax effect, following CBDT Circular No. 3/2018 and a Punjab & Haryana High Court decision. The dismissal does not affirm the CIT(A)'s order on merits.
The Tribunal found that the assessee's claim lacked sufficient evidence and required further inquiry. The matter was remanded to the Assessing Officer for a speaking order after considering expert reports and allowing the assessee an opportunity to present evidence.
The Tribunal held that the assessee should be given an opportunity to produce evidence regarding the sale of trees. The matter was remanded back to the Assessing Officer for a fresh decision.
The Tribunal held that Section 14A of the Income Tax Act cannot be invoked if the assessee has not earned any tax-exempt income during the relevant assessment year. Therefore, no disallowance is attracted.
The Tribunal found that the CIT(A) had not specifically addressed whether the company was declared non-genuine by SEBI or not. Therefore, the issues were remanded back to the CIT(A) for a speaking order.
The Tribunal held that the denial of depreciation solely based on the bill date was unjustified. The assessee had demonstrated that the SILO was purchased, delivered, installed, and put to use during the relevant financial year.
The Tribunal noted that the issue of the limitation period for issuing the notice under Section 148 was not raised before the CIT(A), and therefore, there was no discussion or finding on this point. Consequently, the matter was set aside to the CIT(A) for a fresh decision.
The Tribunal held that the assessee is entitled to claim 100% deduction on eligible profits even after the initial five years, if substantial expansion is undertaken. This is based on the Supreme Court's decision in M/s Aarham Softronics, which clarified that the year of substantial expansion becomes the 'initial assessment year'.
The Tribunal noted that the Supreme Court in PCIT Shimla Vs M/s Aarham Softronics settled the controversy, holding that substantial expansion can reset the 'initial assessment year' for 100% deduction. The issue was remanded to the AO for factual verification.