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306 orders · Page 2 of 7
The Tribunal confirmed the addition of Rs. 43,96,587/- towards unproved sundry creditors. It also directed that estimated business income should be set off against certain investments and sundry creditors. The appeals filed by the Revenue were dismissed.
The Tribunal found that the assessee did not get a proper opportunity before the AO and Ld.CIT(A). Therefore, in the interest of natural justice, the case was remitted back to the AO for de novo assessment after hearing the assessee.
The Tribunal allowed the assessee to withdraw the appeal, noting that the assessee had since obtained registration under Section 12A of the Act. The appeal was therefore rendered academic.
The Tribunal remitted the issue of depreciation on temporary structures to the Assessing Officer for fresh consideration. The issue of disallowance of interest expense was also set aside to the AO for fresh verification. Grounds related to delayed remittance of employee's PF/ESI contributions were dismissed in favor of the Revenue.
The Tribunal held that the services rendered by the assessee were not taxable in India as they did not 'make available' technical knowledge or expertise to the Indian group companies, as required by the India-USA DTAA. The addition made by the AO was deleted.
The Tribunal found that the assessee did not receive the notice from the CIT(A), leading to a violation of natural justice. Consequently, the impugned order of the CIT(A) was set aside.
The Tribunal found that the assessee was prevented by a reasonable cause and set aside the CIT(E)'s order. The matter was remanded back to the CIT(E) for fresh consideration.
The tribunal held that the notice issued by the Assessing Officer (AO) was invalid because it was issued for furnishing inaccurate particulars of income, but the penalty was levied for both concealment and furnishing inaccurate particulars. This defect vitiates the penalty.
The Tribunal noted that the CIT(A) rejected the claim for deduction under Section 80P(2)(e) because the assessee failed to provide evidence of owning a godown/warehouse for letting out or any contract with the State Government to support the claim.
The Tribunal held that the services rendered by the assessee were not taxable in India as they did not 'make available' technical knowledge or expertise to the Indian group companies, as required by the India-USA DTAA. The addition made by the AO was deleted.
The Tribunal condoned the delay in filing the appeals, citing the charitable nature of the assessee and lack of negligence on its part. The matter was restored to the CIT(A) for adjudication on merits.
The Tribunal held that the Assessing Officer had applied his mind and conducted thorough inquiries during the reassessment proceedings, as evidenced by the questionnaire, the assessee's detailed replies, and the subsequent acceptance of the claims. Therefore, the PCIT's assumption of jurisdiction under Section 263 was unwarranted.
The Tribunal remitted the issue of Section 35(2AB) deduction to the AO for re-examination based on earlier Tribunal directions. The additional ground regarding Section 10AA deduction was admitted and remitted to the AO for de novo adjudication.
The Tribunal found that the assessee did not receive the notice from the CIT(A), leading to a violation of natural justice. Consequently, the impugned order of the CIT(A) was set aside.
The Tribunal held that the CIT(A) erred in dismissing the appeals solely on the ground of delay without providing an opportunity for hearing. The appeals were remitted back to the CIT(A) for fresh adjudication on merits.
The Tribunal remitted the issue of depreciation on temporary structures to the Assessing Officer for fresh consideration. The issue of disallowance of interest expense was also set aside to the AO for fresh verification. Grounds related to delayed remittance of employee's PF/ESI contributions were dismissed in favor of the Revenue.
The Tribunal found that the CIT(A) did not provide an effective opportunity of hearing to the assessee. Therefore, the impugned orders were set aside for de novo adjudication on merits, with a direction to provide a proper hearing.
The Tribunal held that the penalty notice issued by the AO was invalid because it failed to specify the exact charge against the assessee, making it vague and legally untenable. Consequently, the penalty levied was directed to be deleted.
The Tribunal held that the services rendered by the assessee were not taxable in India as they did not 'make available' technical knowledge or expertise to the Indian group companies, as required by the India-USA DTAA. The addition made by the AO was deleted.
The Tribunal found that the assessee had submitted some details, but the Assessing Officer did not seek further clarification before completing the assessment. Therefore, the matter was remanded to the Assessing Officer for fresh consideration. The appeal against the rectification order was dismissed as infructuous.
The Tribunal held that the services rendered by the assessee were not taxable in India as they did not 'make available' technical knowledge or expertise to the Indian group companies, as required by the India-USA DTAA. The addition made by the AO was deleted.
The Tribunal remitted the issue of depreciation on temporary structures to the Assessing Officer for fresh consideration. The issue of disallowance of interest expense was also set aside to the AO for fresh verification. Grounds related to delayed remittance of employee's PF/ESI contributions were dismissed in favor of the Revenue.
The Tribunal held that no penalty is leviable under Section 271D if the cash received is from family members and can be considered a gift. The penalty levied by the Assessing Officer and confirmed by the CIT(A) was deemed not maintainable.
The Tribunal held that the lower authorities erred in not considering the assessee's plea to ignore the revised return filed under wrong guidance. The AO was directed to accept the original return and recompute the income accordingly.
The Tribunal noted that a similar issue was restored to the file of the AO in a previous assessment year for re-adjudication. Therefore, the Tribunal set aside the impugned orders and restored the issue back to the AO for a fresh assessment.
The Tribunal held that the disallowance under Section 143(1) for Chapter VI-A deductions, specifically for belated returns, was only permissible from Assessment Year 2021-22 onwards. Since the present appeal pertains to AY 2019-20, the disallowance was not valid.
The Tribunal found that the assessee had submitted some details, but the Assessing Officer did not seek further clarification before completing the assessment. Therefore, the matter was remanded to the Assessing Officer for fresh consideration. The appeal against the rectification order was dismissed as infructuous.
The tribunal set aside the CIT(A)'s order and remitted the matter back to the AO for de novo assessment. The assessee is to provide all documents, and the AO is to conduct an inquiry and pass an order after hearing the assessee.
The Tribunal noted that subsequent CBDT circulars and a High Court decision have extended the timeline for filing such applications. The assessee has also filed a fresh application under the latest circular.
The tribunal held that the appellate orders passed after the assessee's death are a nullity. The matter was restored back to the CIT(A) to implead the legal heirs and pass fresh orders.
The Tribunal found that the assessee did not receive the notice from the CIT(A), leading to a violation of natural justice. Consequently, the impugned order of the CIT(A) was set aside.
The Tribunal held that since the assessee declared the excess stock and cash as additional business income and recorded it in their books, it should be treated as such. The lower authorities erred in treating it as unexplained investment under Section 69B/69A.
The Tribunal noted that the assessee was not given a proper opportunity to present its case before the Assessing Officer and the CIT(A). Therefore, in the interest of justice, the matter was remanded back to the Assessing Officer for fresh consideration.
The Tribunal held that the assessee was not given a proper opportunity to present their case. Therefore, the matter was remanded to the Assessing Officer for fresh consideration.
The Tribunal found that the Assessing Officer's order lacked discussion on how the submitted documents were not connected to the purchase consideration. The Tribunal also noted an unexplained relief given by the AO. Therefore, the matter was set aside for de novo consideration.
The Tribunal held that the Revenue's appeal was not sustainable based on the monetary limits for filing appeals as per CBDT Circular No. 5/2024. The specific exception cited by the Revenue was found to be not relevant to the present case.
The Tribunal noted that similar issues were decided by a Co-ordinate Bench and the Madras High Court. Consequently, the Tribunal set aside the orders of the CIT(Exemption) and remanded the matters back for reconsideration.
The Tribunal noted that the assessee was not given a proper opportunity to present its case. Therefore, in the interest of justice, the matter was remanded back to the Assessing Officer for fresh consideration.
The Tribunal concurred with the CIT(A)'s finding that the reopening was a case of change of opinion. The Assessing Officer had already considered and allowed the claims during the original assessment, and no new material came to light for reopening.
The Tribunal held that the TNAWF is eligible for exemption under Section 11 of the Income Tax Act. It was found that the Tamil Nadu Advocates Welfare Fund Act, 1987, is covered by the saving clause in Section 38 of the central Advocate Welfare Fund Act, 2001, making the latter inapplicable to Tamil Nadu. Therefore, Section 2(15) of the Income Tax Act was not applicable.
The CIT(A) quashed the assessment order, holding that the reopening was based on a 'change of opinion' by the AO, as the issues were already considered during the original assessment. The Tribunal concurred with this finding.
The Tribunal found merit in the assessee's argument that the lower authorities failed to consider the bank's certified statement regarding SBN deposits. The Tribunal set aside the CIT(A)'s order and restored the issue to the AO for a fresh examination, directing the AO to provide a reasonable opportunity to the assessee.
The Tribunal upheld the CIT(A)'s order, finding that the assessee's explanation for the cash deposits, supported by sales trends and VAT records, was bona fide and acceptable. The Tribunal also dismissed the revenue's ground regarding the non-remand of additional evidence.
The Tribunal noted that the assessee did not have a proper opportunity to present their case. Therefore, the matter was remanded back to the Assessing Officer for fresh consideration, subject to a cost payment.
The Tribunal held that the filing of Form 67 is directory, not mandatory, and the claim for foreign tax credit should be allowed if filed before the assessment order is passed, following the Madras High Court's decision.
The Tribunal noted that a co-ordinate bench had previously held that the timeline for filing Form 10AB under Section 80G(5)(iii) should be treated as directory and not mandatory, considering CBDT circulars. Furthermore, a fresh application was filed by the assessee in light of a subsequent CBDT circular extending the due date.
The Tribunal held that the TNAWF is eligible for exemption under Section 11 of the Income Tax Act. It was found that the Tamil Nadu Advocates Welfare Fund Act, 1987, is covered by the saving clause in Section 38 of the central Advocate Welfare Fund Act, 2001, making the latter inapplicable to Tamil Nadu. Therefore, Section 2(15) of the Income Tax Act was not applicable.
The Tribunal restored the assessment to the Assessing Officer for de novo consideration, allowing the assessee a reasonable opportunity to present their case. This was based on the assessee's plea of non-deliberate non-appearance and a commitment to cooperate.
The Tribunal noted that similar issues were decided by a Co-ordinate Bench and the Madras High Court. Consequently, the Tribunal set aside the orders of the CIT(Exemption) and remanded the matters back for reconsideration.
The Tribunal noted that a co-ordinate bench had previously held that the timeline for filing Form 10AB under Section 80G(5)(iii) should be treated as directory, not mandatory, considering genuine hardship. Furthermore, a recent High Court decision declared a relevant circular clause as arbitrary. The CBDT subsequently extended the due date for filing Form 10AB to 30.06.2024, and the assessee filed a fresh application within this extended period.