ITAT Cochin Judgments — May 2023

The Tribunal noted that the AO and CIT(A) did not have the benefit of the Hon'ble Apex Court's decision in the case of Malvilayi Service Co-operative Bank Ltd. Therefore, in the interest of justice and equity, the issue of the claim for deduction under Section 80P(2)(a)(i) of the Act was restored back to the file of the AO. The AO was directed to examine the assessee's claim afresh in light of the Hon'ble Apex Court's decision in Malvilayi Service Co-operative Bank Ltd. Consequently, the impugned order of the Ld. CIT(A) was set aside, and the issue was restored to the AO for fresh adjudication. The Tribunal also noted that the stay petitions filed by the assessee had become infructuous and were dismissed.

The Tribunal noted that the AO and CIT(A) did not have the benefit of the Hon'ble Apex Court's decision in the case of Malvilayi Service Co-operative Bank Ltd. Therefore, in the interest of justice and equity, the issue of the claim for deduction under Section 80P(2)(a)(i) of the Act was restored back to the file of the AO. The AO was directed to examine the assessee's claim afresh in light of the Hon'ble Apex Court's decision in Malvilayi Service Co-operative Bank Ltd. Consequently, the impugned order of the Ld. CIT(A) was set aside, and the issue was restored to the AO for fresh adjudication. The Tribunal also noted that the stay petitions filed by the assessee had become infructuous and were dismissed.

The Tribunal held that while filing Form 27C is mandatory to claim exemption from TCS, the time limit for submitting it to the authorities is directory. The matter was restored to the AO to examine the validity of the Form 27C declarations.

The Tribunal held that while filing Form 27C is mandatory to claim exemption from TCS, the time limit for submitting it to the authorities is directory. The matter was restored to the AO to examine the validity of the Form 27C declarations.

The Tribunal held that while filing Form 27C is mandatory to claim exemption from TCS, the time limit for submitting it to the authorities is directory. The matter was restored to the AO to examine the validity of the Form 27C declarations.

The Tribunal held that while filing Form 27C is mandatory for exemption from TCS, the time limit for submitting it to the authorities is directory. The matter was restored to the AO to examine the validity of the Form 27C declarations and pass an order accordingly.

The Tribunal held that the PCIT failed to consider relevant facts regarding earlier assessment years and violated principles of natural justice by not providing a proper opportunity for hearing. The order was set aside for de-novo consideration.

The Tribunal held that since the basis for dismissing the appeal (opting for the Vivad Se Viswas Scheme) was removed due to non-payment, the appeal before the CIT(A) should be revived. The CIT(A)'s order was set aside, and the appeal was restored.

The Tribunal held that while filing Form 27C is mandatory to claim exemption from TCS, the time limit for submitting it to the authorities is directory. The matter was restored to the AO to examine the validity of the Form 27C declarations.

The Tribunal accepted the assessee's plea for withdrawal of the appeal, considering it inconsequential due to subsequent developments. The stay petition was also rendered infructuous.