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139 orders · Page 3 of 3
The Tribunal condoned the delay in filing the appeal and set aside the CIT(A)'s order. The appeal was remitted back to the CIT(A) for fresh consideration, acknowledging the assessee's intention to avail the dispute resolution scheme.
The Tribunal held that since the assessee was operating from leased premises and not the owner, the income should be treated as business income. As the turnover was below Rs. 60 lakhs, the benefit of Section 44AD was applicable.
The Tribunal held that since the assessee was operating from leased premises and not the owner, the income should be treated as business income. As the turnover was below Rs. 60 lakhs, the benefit of Section 44AD was applicable.
The Tribunal held that the expenditure incurred for replacing machinery parts, which did not increase the production capacity of the spinning mill, should be allowed as current repair. Merely because the machinery became more efficient does not automatically qualify it as a capital expenditure.
The Tribunal held that interest earned on funds temporarily deposited from share application money, which is inextricably linked to setting up the business, should be set off against pre-operative expenses and not treated as income from other sources. The case was remitted to the AO for fresh consideration.
The Tribunal partly allowed the appeal for statistical purposes, specifically regarding grounds related to the exclusion of comparables. However, the ground challenging the adjustment for marketing and accounting costs was dismissed.
The Tribunal held that when a property is acquired by succession or inheritance, the year of acquisition by the previous owner should be considered for indexation. The Bombay High Court judgment in CIT vs. Manjula J. Shah was cited and followed.
The Tribunal upheld the decision of the CIT(Appeals) regarding the estimation of income from poultry droppings, finding the assessee's estimate to be fair. The Tribunal also agreed with the CIT(Appeals) that the unaccounted income from bird droppings was sufficient to cover the on-money payment for land acquisition.
The Tribunal upheld the decision of the CIT(Appeals) regarding the estimation of income from poultry droppings, finding the assessee's estimate to be fair. The Tribunal also agreed with the CIT(Appeals) that the unaccounted income from bird droppings was sufficient to cover the on-money payment for land acquisition.
The Tribunal directed the AO to verify the payment of sales tax liability and allow the claim in the year of actual payment, partly allowing the appeal for AY 2002-03. The appeal for AY 2007-08 was dismissed as infructuous because the AO accepted the returned income after the Section 263 order.
The Tribunal upheld the decision of the CIT(Appeals) regarding the estimation of income from poultry droppings, finding the assessee's estimate to be fair. The Tribunal also agreed with the CIT(Appeals) that the unaccounted income from bird droppings was sufficient to cover the on-money payment for land acquisition.
The Tribunal upheld the decision of the CIT(Appeals) regarding the estimation of income from poultry droppings, finding the assessee's estimate to be fair. The Tribunal also agreed with the CIT(Appeals) that the unaccounted income from bird droppings was sufficient to cover the on-money payment for land acquisition.
The Tribunal upheld the decision of the CIT(Appeals) regarding the estimation of income from poultry droppings, finding the assessee's estimate to be fair. The Tribunal also agreed with the CIT(Appeals) that the unaccounted income from bird droppings was sufficient to cover the on-money payment for land acquisition.
The Tribunal upheld the decision of the CIT(Appeals) regarding the estimation of income from poultry droppings, finding the assessee's estimate to be fair. The Tribunal also agreed with the CIT(Appeals) that the unaccounted income from bird droppings was sufficient to cover the on-money payment for land acquisition.
The Tribunal upheld the decision of the CIT(Appeals) regarding the estimation of income from poultry droppings, finding the assessee's estimate to be fair. The Tribunal also agreed with the CIT(Appeals) that the unaccounted income from bird droppings was sufficient to cover the on-money payment for land acquisition.
The Tribunal, noting the absence of the assessee and the lack of any adjournment request, concluded that the assessee was not interested in pursuing the appeal. Consequently, the appeal was dismissed.
The Tribunal held that in the absence of exempt income, no disallowance under Section 14A can be made. Investments made in wholly-owned subsidiaries for commercial expediency are not to be reckoned for disallowance.
The Tribunal dismissed the appeal due to a significant delay in filing the appeal by the assessee. No bonafide reasons were provided to justify the delay.
The Tribunal directed the AO to verify the payment of sales tax liability and allow the claim in the year of actual payment, partly allowing the appeal for AY 2002-03. The appeal for AY 2007-08 was dismissed as infructuous because the AO accepted the returned income after the Section 263 order.
The Tribunal held that the assessee was not eligible for exemption under Section 10(23C) as it had not obtained the required approval. The appeal regarding the rejection of a review petition for approval under Section 10(23C) was dismissed as it was not amenable to rectification under Section 154.
The Tribunal held that while the exclusion of Asian Paints Ltd. as a comparable was not justified, the issue of idle capacity adjustment needed to be verified and was remitted back to the Assessing Officer. The claim for customs duty adjustment was dismissed.
The Tribunal observed that a settlement deed should be viewed similarly to a gift deed for considering the holding period of the previous owner. However, the lower authorities had not verified the settlement deed to ascertain if it was a pure settlement or a transfer for consideration and who the actual owner was.
The Tribunal held that royalty payment for using a logo is a revenue expenditure allowable under Section 37(1). The pendency of an appeal before the High Court does not warrant a different view, especially when the Tribunal has consistently allowed such payments in the assessee's own case.
The Tribunal held that payments made to a foreign agent for services rendered exclusively outside India are not taxable in India. However, the assessee must substantiate that services were rendered. The matter of bad debts also requires re-examination.
The Tribunal held that the assessee was not eligible for exemption under Section 10(23C) as it had not obtained the required approval. The appeal regarding the rejection of a review petition for approval under Section 10(23C) was dismissed as it was not amenable to rectification under Section 154.
The Tribunal held that telecommunication and foreign travel expenditure should be excluded from export turnover but also from total turnover. It also ruled that losses from one STPI unit cannot be set off against profits of another unit claiming Section 10A deduction. Several comparables were excluded in transfer pricing analysis.
The Tribunal held that the assessee was not eligible for exemption under Section 10(23C) as it had not obtained the required approval. The appeal regarding the rejection of a review petition for approval under Section 10(23C) was dismissed as it was not amenable to rectification under Section 154.
The Tribunal, considering the absence of the assessee and the lack of interest in pursuing the appeal, dismissed the appeal in limine. This decision was based on precedents from other High Courts.
The Tribunal concluded that the assessee was not interested in pursuing the appeal. Consequently, the appeal was dismissed in limine.
The Tribunal held that advanced age constituted a reasonable cause for the delay in filing the appeal. Therefore, the delay was condoned, and the appeals were restored to the CIT(Appeals) for adjudication on merits.
The Tribunal held that a karta of an HUF or a trustee can be a partner in their individual capacity. The partnership firms were genuine, and the disallowance of interest and remuneration was incorrect.
The Tribunal held that the assessment order bearing the GIR number instead of PAN is not invalid, and the notices were correctly issued to the HUF. However, the claim for deduction u/s. 54F was restored to the CIT(A) for substantiation.
The Tribunal held that a karta of an HUF or a trustee can be a partner in their individual capacity. The partnership firms were genuine, and the disallowance of interest and remuneration was incorrect.
The Tribunal held that advanced age constituted a reasonable cause for the delay in filing the appeal. Therefore, the delay was condoned, and the appeals were restored to the CIT(Appeals) for adjudication on merits.
The Tribunal held that the conditions for invoking Explanation 3 to Section 43(1) were satisfied, as the main purpose of the transfer appeared to be the reduction of tax liability through enhanced depreciation claims. The order of the CIT(Appeals) was set aside, and the AO's order was reinstated.
The Tribunal held that once the assessee's balance sheet and the balance sheets of the investee companies, both audited, reflected the investments, they could not be disregarded. The assessee's claim of mere book entries was rejected, and the addition was upheld.
The Tribunal held that the agreement was conditional and not legally enforceable without Skoda's approval. Since the approval was not granted and the agreement expired, there was no slump sale.
The Tribunal held that the conditions for invoking Explanation 3 to Section 43(1) were satisfied, as the main purpose of the transfer appeared to be the reduction of tax liability through enhanced depreciation claims. The order of the CIT(Appeals) was set aside, and the AO's order was reinstated.
The Tribunal held that advanced age constituted a reasonable cause for the delay in filing the appeal. Therefore, the delay was condoned, and the appeals were restored to the CIT(Appeals) for adjudication on merits.