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246 orders · Page 3 of 5
The Tribunal found no basis for the 80% disallowance and, in the absence of comparable cases, restricted the disallowance to 20% of the claimed expenses.
The Tribunal found that the CIT(A) passed an ex-parte order without addressing the facts and framing points of determination. Therefore, the issue was restored to the Assessing Officer for fresh adjudication.
The Tribunal held that a reference to the DVO is mandatory in such cases and not dependent on the assessee raising an objection before the Assessing Officer. The Assessing Officer was directed to re-examine the issue after referring it to the DVO.
The Tribunal held that the assessee is not a co-operative bank within the meaning of Section 56 of the BR Act, 1949, and therefore, is eligible for deduction under Section 80P. The distinction regarding loans for non-agricultural sectors was also overruled.
The Tribunal dismissed the Revenue's appeal regarding bad debts and royalty, finding no substance in the grounds. For other appeals, the Tribunal partly allowed or dismissed them based on prior rulings and the facts presented.
The Tribunal directed the Assessing Officer to recompute the disallowance considering interest-bearing funds used for exempt income yielding investments, placing the onus on the assessee to prove facts. The Tribunal also accepted the assessee's ground regarding Section 41(1) addition, finding no actual cessation of liability.
The Tribunal found that the CIT(A)'s order did not decide the substantive grounds on merits as required by Section 250(6). Therefore, the appeal was restored to the CIT(A) for fresh adjudication.
The Tribunal held that the assessee could not be considered to have engaged in land trading activities in AY 2013-14 due to a lack of evidence of land sale. However, for AY 2015-16, the sale of lands after plotting was accepted as a factual position.
The Tribunal found that the CIT(A) did not properly adjudicate the appeal as required by Section 250(6) of the Act. Therefore, the case was restored to the CIT(A) for fresh verification and adjudication.
The Tribunal held that the due dates for ESI & PF contributions are as per the respective Acts, not the return filing due date, citing the Supreme Court decision in Checkmate Services Pvt. Ltd. The Tribunal also rejected the argument that the disallowance could not be made during section 143(1)(a) processing, referencing a Bombay High Court ruling.
The Tribunal found that the CIT(A) had passed an ex-parte order without properly considering the facts and following the procedure under Section 250(6) of the Act. Therefore, the matter was restored to the CIT(A) for fresh adjudication.
The Tribunal held that the assessee's contention that payments of a capital nature are not covered under Section 194C for TDS deduction is sustainable. Therefore, the assessee was not liable to deduct TDS on the said payment.
The Tribunal held that the assessee's contention that payments of a capital nature are not covered under Section 194C for TDS deduction is sustainable. Therefore, the assessee was not liable to deduct TDS on the said payment.
The Tribunal found that the issue required factual re-verification by the Assessing Officer rather than adjudication at the Tribunal level. The case was restored to the Assessing Officer for fresh adjudication, with the taxpayer given three opportunities to present evidence.
The Tribunal held that the disallowance of Section 80P deductions was incorrect as the relevant amendment by the Finance Act 2021 has prospective effect, and the assessment years in question (2014-15 and 2015-16) were prior to this amendment.
The Tribunal restored issues related to Section 234D and 244A interest to the Assessing Officer for fresh adjudication in AY 2004-05. For AY 2006-07, Section 244A interest was allowed. For AY 2008-09, a claim for deduction under Section 35D was restored to the AO. For AY 2013-14 and 2014-15, the deduction under Section 36(1)(viii) was allowed. For AY 2019-20, the disallowance of penalty paid to the RBI was deleted.
The Tribunal restored all issues back to the Assessing Officer for fresh adjudication. The assessee was given three effective opportunities to plead and prove their case, with the risk and responsibility solely on them.
The Tribunal held that interest income earned by a co-operative society from investments in other co-operative banks is eligible for deduction under Section 80P(2)(d) of the Income Tax Act, 1961. The assessee's status as a co-operative bank, rather than a co-operative society, does not preclude this deduction.
The Tribunal directed the Assessing Officer to re-examine the deduction for Rs. 61,90,159/- after the assessee provides relevant details. For the interest income of Rs. 6,39,100/-, the Tribunal allowed the deduction based on a jurisdictional High Court ruling.
The Tribunal held that the Supreme Court's decision in Mavlilayi Service Co-operative Bank Ltd. clarifies that providing credit facilities to non-members does not disentitle the society from Section 80P deduction, although profits from such facilities are not deductible. The Tribunal found no material supporting the Revenue's claim of income from non-members and directed the AO to allow the deduction.
The tribunal found that the CIT(A)/NFAC passed an ex-parte order without properly dealing with the facts and framing points of determination. Therefore, the issue was restored to the Assessing Officer for fresh adjudication.
The Tribunal dismissed the Revenue's appeal regarding bad debts and royalty, finding no substance in the grounds. For other appeals, the Tribunal partly allowed or dismissed them based on prior rulings and the facts presented.
The Tribunal held that the CIT(A)'s findings negating taxability based on the 'real income' principle had attained finality. Section 50D, invoked by the Revenue, was not applicable retrospectively to the assessment year 2010-11.
The Tribunal allowed the assessee to withdraw the appeal. The assessee intends to raise all factual and legal arguments before the Assessing Officer in the consequential proceedings.
The Tribunal held that a disallowance in assessment proceedings does not automatically attract a penalty under Section 271(1)(c). It relied on the principle that quantum and penalty are separate proceedings.
The Tribunal held that the assessee had provided reasonable cause for the delay in filing the tax audit report due to communication gaps with the auditor's office. Therefore, the penalty levied under section 271B was deleted.
The Tribunal held that the assessee failed to comply with the due dates for ESI & PF contributions as per the Supreme Court's decision in Checkmate Services Pvt. Ltd. The Tribunal also rejected the argument that the disallowance could not be made under Section 143(1)(a) processing, citing the Bombay High Court ruling in Rohan Korgaonkar.
The Tribunal held that the NFAC's order lacked proper adjudication on the merits of the assessee's contentions. Therefore, the appeal was restored to the NFAC for fresh adjudication.
The Tribunal restored the appeal to the NFAC for fresh adjudication, acknowledging the communication gap. The assessee was directed to file and prove all relevant facts in the subsequent proceedings.
The Tribunal held that the assessee is not a cooperative bank as defined under Section 80P(4) and is therefore eligible for deduction under Section 80P. The disallowance under Section 40(a)(ia) was also deleted due to lack of evidence and CBDT circulars.
The Tribunal held that the deduction under Section 80JJAA should be allowed up to the gross total income as per Section 80A(2), not just the business income. The issue of Section 40(a)(ia) disallowance was restored to the Assessing Officer for verification.
The Tribunal restored the appeal back to the CIT(A)/NFAC for fresh adjudication, directing it to provide at least three effective opportunities for hearing. The assessee bears the responsibility to prove all relevant facts.
The Tribunal held that the disallowance under Section 143(1)(a)(v) was not applicable for assessment years 2019-20 and 2020-21 as the provision was effective from April 1, 2021. However, for assessment year 2022-23, the disallowance was upheld due to the assessee's failure to comply with Section 80AC(ii) by not filing the return within the due date.
The Tribunal held that there was a reasonable cause for the delay in filing the tax audit report, as it was beyond the assessee's control. Therefore, the penalty levied under Section 271B was deleted.
The Tribunal held that Section 154 rectification proceedings are only meant to correct apparent mistakes and do not permit detailed adjudication or roving enquiries. Therefore, the withdrawal of depreciation was not permissible under Section 154.
The Tribunal held that the deduction under Section 80JJAA should be allowed up to the gross total income as per Section 80A(2), not just the business income. The issue of Section 40(a)(ia) disallowance was restored to the Assessing Officer for verification.
The Tribunal held that filing the tax audit report is a directory provision and can be submitted even in appellate proceedings. The CIT(A) was directed to examine the assessee's case on merits after considering the tax audit report.
The Tribunal directed the Assessing Officer to recompute the disallowance considering interest-bearing funds used for exempt income yielding investments. For additions under Section 41(1) regarding cessation of liability, the Tribunal found no actual cessation in the books and accepted the assessee's grounds.
The Tribunal upheld the CIT(A)'s decision, finding no merit in the assessee's submission for condonation of the inordinate delay. The Tribunal agreed that the assessee failed to provide sufficient cause and demonstrate reasonable diligence in filing the appeal.
The Tribunal considered the rival contentions and noted that the appeals were adjourned due to a letter from the assessee. The core dispute revolved around whether the assessee's activities were charitable or commercial under Section 2(15) of the Income Tax Act.
The Tribunal held that an advance amount received for land acquisition, without actual transfer or possession, cannot be taxed as business income on a mercantile basis due to lack of reasonable certainty. The compensation was also covered by exemption under the RFCTLARR Act.
The Tribunal held that since no assessments were pending as of the date of reference, additions could only be made based on seized material, as per the Supreme Court decision in PCIT vs. Abhisar Buildwell (P) Ltd. As no such additions were made, the assessments were quashed.
The tribunal, following a previous coordinate bench's order for AY 2007-08, restored the matters back to the Assessing Officer for fresh adjudication. The tribunal noted that the previous order had also restored the matter to the AO for appropriate adjudication.
The Tribunal dismissed the assessee's appeals, relying on the Supreme Court decision in Checkmate Services Pvt. Ltd. vs. CIT and the Bombay High Court decision in Rohan Korgaonkar vs. DCIT. These decisions held that disallowance under Section 36(1)(va) is applicable if employee contributions are not paid within the statutory due date.
The Tribunal found that the CIT(A) passed an ex-parte order without properly dealing with the facts and without framing points of determination. Therefore, the issue was restored to the CIT(A) for fresh verification and adjudication.
The tribunal deleted the disallowance under Section 14A as the assessee had no exempt income. For the disallowance under Section 36(1)(iii), the tribunal accepted the assessee's claim in principle, allowing the Assessing Officer to verify the fund position.
The Tribunal held that for AY 2013-14, the assessee could not be considered to have engaged in land trading as no sale of agricultural land was indicated. For AY 2015-16, the sale and plotting of land were accepted as factual.
The Tribunal, with the consent of both parties, restored the matter back to the Assessing Officer for re-examination based on the provided reconciliation statement. All other issues were rendered academic.
The Tribunal held that the deduction under Section 80JJAA is to be allowed against the gross total income, not just business income, as per Section 80A(2). The issue of Section 40(a)(ia) disallowance was restored to the Assessing Officer for verification.
The Tribunal found that communication gaps could not be ruled out and decided to allow the assessee's appeal for statistical purposes. The case was remanded to the CIT (Exemption) for reconsideration with effective opportunities for hearing.