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276 orders · Page 5 of 6
The Tribunal noted that a co-ordinate bench had set aside the order rejecting the Section 12AA registration and directed the CIT(Exemptions) to decide the application afresh. Therefore, the appeals were restored to the CIT(A) for fresh adjudication.
The Tribunal considered the arguments of the Revenue's counsel. It was noted that similar appeals for the same assessment years had already been disposed of by the Tribunal.
The Tribunal found that the CIT(A)'s order confirming the penalty was non-speaking and lacked specific findings on concealment of income. Therefore, the matter was remanded back to the CIT(A) for fresh adjudication.
The Tribunal considered the arguments of the Revenue's counsel. It was noted that similar appeals for the same assessment years had already been disposed of by the Tribunal.
The Tribunal considered the arguments of the Revenue's counsel. It was noted that similar appeals for the same assessment years had already been disposed of by the Tribunal.
The Tribunal noted that a co-ordinate bench had set aside the order rejecting the Section 12AA registration and directed the CIT(Exemptions) to decide the application afresh. Therefore, the appeals were restored to the CIT(A) for fresh adjudication.
The Tribunal considered the arguments of the Revenue's counsel. It was noted that similar appeals for the same assessment years had already been disposed of by the Tribunal.
The Tribunal held that the lower authorities failed to consider the evidence, including certificates from the Village Administrative Officer and payment receipts for development charges, which proved the properties were vacant land. Therefore, the addition of deemed letting value was deleted.
The Tribunal held that the assessee's audited financial statements and cash book reflected a sufficient cash balance to cover the deposits. No defects were pointed out in the books of accounts, making the additions unsustainable.
The Tribunal held that the reassessment was initiated based on reasons available during the original assessment without any new or tangible material. Following the precedent set by the Madras High Court in TANMAC India, the Tribunal quashed the reassessment proceedings.
The Tribunal set aside the issue of Headquarter services to the AO for re-examination due to lack of sufficient evidence. The disallowance of management fees was also set aside for fresh consideration. The Tribunal reversed the DRP's deletion of warranty expense disallowance, finding that the assessee claimed excessive deduction.
The Tribunal noted that the property was held by a family-owned entity and the assessee's father was a shareholder. The assessee argued that Section 56(2)(vii) does not apply to property received by inheritance or during family settlements.
The Tribunal set aside the issue of Headquarter services to the AO for re-examination due to lack of sufficient evidence. The disallowance of management fees was also set aside for fresh consideration. The Tribunal reversed the DRP's deletion of warranty expense disallowance, finding that the assessee claimed excessive deduction.
The Tribunal allowed the software expenses as revenue expenditure and directed the AO to grant TDS credit. It partly allowed the appeal regarding the apportionment of depreciation on trademarks, remanding it for fresh adjudication. Other grounds related to transfer pricing, Section 14A, loan write-off, and apportionment of overhead expenses were dismissed.
The Tribunal held that the AO's estimation of profit at 4% was one of the possible views and not contrary to law. The Pr.CIT's revision was considered a substitution of the AO's judgment, as the presumptive rate under Section 44AD was not applicable due to turnover exceeding the threshold.
The Tribunal held that the Assessing Officer failed to conduct proper inquiry by not considering the survey findings and the material on record. This lack of inquiry rendered the assessment order erroneous and prejudicial to the revenue.
The Tribunal found that the issue was similar to previous years where the matter was remitted back to the CIT(A) for fresh consideration. The Tribunal noted that the taxability of such payments depends on DTAA provisions and whether the expenditure was claimed as a deduction.
The Tribunal noted that a previous order in the assessee's own case for other assessment years had set aside the issue to the Assessing Officer for fresh consideration, considering the outcome of a CBI court judgment. Both parties agreed to a similar direction.
The tribunal noted that the assessee had opted for the Vivad Se Vishwas Scheme and the respondent did not object to the withdrawal. Therefore, the appeal was dismissed as withdrawn.
The Tribunal held that the Assessing Officer failed to conduct a proper inquiry by not considering the survey findings and the discrepancies noted. This lack of inquiry rendered the assessment order erroneous and prejudicial to the revenue.
The Tribunal held that the Assessing Officer failed to conduct a proper inquiry by not considering the survey findings and the discrepancies noted. This lack of inquiry rendered the assessment order erroneous and prejudicial to the revenue.
The Tribunal held that the Assessing Officer failed to conduct a proper inquiry by not considering the survey findings and the discrepancies noted. This lack of inquiry rendered the assessment order erroneous and prejudicial to the revenue.
The Tribunal found that the issue was similar to previous years where the matter was remitted back to the CIT(A) for fresh consideration. The Tribunal noted that the taxability of such payments depends on DTAA provisions and whether the expenditure was claimed as a deduction.
The Tribunal held that the Assessing Officer failed to conduct proper inquiry by not considering the survey findings and the material on record, making the assessment order erroneous and prejudicial to the revenue.
The Tribunal confirmed the deletion of the addition made by the Assessing Officer. It found no infirmity in the order of the Commissioner (Appeals) who had accepted the explanation for the sundry creditors, including the loan from M/s. Global Impex and the purchase of silver articles.
The Tribunal held that the Assessing Officer failed to conduct a proper inquiry by not considering the survey findings and the discrepancies noted. This lack of inquiry rendered the assessment order erroneous and prejudicial to the revenue.
The Tribunal held that the issue was squarely covered by its previous decisions in the assessee's own case for earlier assessment years. Therefore, the order of the CIT(A) deleting the addition was confirmed.
The Tribunal held that since the assessee's business had commenced by undertaking various preparatory activities, the expenses incurred were allowable. The CIT(A)'s finding that the expenses were allowable under Section 37 was upheld.
The Tribunal held that reassessment proceedings initiated beyond four years from the end of the assessment year are invalid if the original assessment was under Section 143(3) and there was no failure by the assessee to disclose material facts. Therefore, the order of the CIT(A) quashing the reassessment was affirmed.
The Tribunal held that reassessment under Section 147 requires tangible material and cannot be based on a mere change of opinion. Since all the information was available to the AO during the original assessment, the reopening was not valid.
The Tribunal restored the matter back to the file of the CIT(A) for fresh adjudication. This was done to enable the revenue to take a consistent stand and to keep all issues open for consideration.
The Tribunal held that the CIT(A) erred in dismissing the appeal on technical grounds without considering the merits. The case was restored to the CIT(A) to provide the assessee with another opportunity to present her case and evidence.
The Tribunal held that Rs. 60 Lacs received in cash from the sale of the same land on the same date could not be considered unexplained investment. For the Rs. 33.06 Lacs, it was estimated that Rs. 15 Lacs represented explained investment.
The Tribunal held that while the exemption under Section 47(xiv) was rightly withdrawn due to the violation of conditions under Section 47A(3), there were no capital gains to be taxed. This was because the goodwill was not self-generated but acquired by incurring costs, and its book value equaled the transfer value, resulting in nil capital gains.
The Tribunal held that the mistake occurred at the Chartered Accountant's office and there was no intention of the assessee to evade tax. The assessee had already accepted the assessment and paid taxes.
For AY 2009-10, the Tribunal held that the reassessment proceedings were null and void as the reasons for reopening were never communicated to the assessee. For AY 2012-13, the Tribunal found the additions to be based on suspicion and conjecture, directing the AO not to disallow the business loss.
The Tribunal noted that the dispute was settled under the Vivad Se Vishwas Scheme. Consequently, the appeal was dismissed as withdrawn.
The Tribunal held that the reopening of the assessment was based merely on a change of opinion by the Assessing Officer, as no new material was available. The original assessment had already considered and accepted the assessee's claim of capital gains.
The Tribunal held that the mistake occurred at the Chartered Accountant's office and there was no intention of the assessee to evade tax. The assessee had already accepted the assessment and paid taxes.
The Tribunal held that the reopening of the assessment was impermissible as it was based on a change of opinion without any fresh material. The AO had already examined the issue of capital gains during the original assessment and accepted the assessee's claim.
The Tribunal held that sports promotion constitutes human resource development and is at par with education. Therefore, the proviso to Section 2(15) was not applicable to the assessee's activities, and the exemption under Section 11 was rightly granted.
The Tribunal found that the assessee had offered full capital gains in various years on an accrual basis and that the sale consideration was also subjected to TDS. Therefore, the Tribunal modified the revisional order.
The Tribunal held that filing the audit report (Form No. 10CCB) along with the revised return, before the assessment was completed, fulfills the statutory requirement. Therefore, the assessee is eligible for the deduction.
The Tribunal dismissed the assessee's grounds challenging reassessment proceedings. It upheld the deletion of disallowance under Section 14A as the assessee earned no exempt income. The issue of foreign exchange loss was set aside and remanded to the AO for fresh adjudication.
The Tribunal found that the Assessing Officer's conclusion regarding Section 40A(3) disallowances was not supported by material. It directed the AO to estimate a 10% addition for blue metal jelly purchase and other listed items. For Section 40(a)(ia), it disallowed the claimed interest expenditure. The estimated addition of 20% for brick purchase and machinery rent was upheld.
The Tribunal held that the amount in question was interest on a previously taken loan and not a new loan or deposit. Therefore, it did not violate Section 269SS, and the PCIT's revision order was not justified.
The Tribunal held that the sale suppression for a period not supported by direct material found during the survey was not sustainable. It also ruled that only net profit, not gross profit, should be taxed on unaccounted sales, and the interest disallowance was not justified.
The Tribunal held that the loan was obtained for business purposes, as evidenced by the loan sanction letter and master rental agreement. The lease income was offered as business income, and therefore, the interest paid on the loan should be allowed as a business expenditure.
The Tribunal held that in cases where the assessment is unabated on the date of search, no addition can be made under section 153A without any incriminating material found during the search. Therefore, the addition of unsecured loans under section 68 was deleted.
The Tribunal, in the interest of natural justice, set aside the CIT(A)'s order and restored the appeal for fresh adjudication. The assessee was directed to substantiate its case.