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462 orders · Page 9 of 10
The Tribunal held that the CIT was not justified in rejecting the application. The charging of fees for educational expenses is permissible and the genuineness of activities and charitable nature of objects are the primary concerns for registration, not the source of income.
The Tribunal restored the matters concerning working capital adjustment and the markup on fixed assets to the TPO for fresh consideration. An additional ground regarding the scope of transfer pricing adjustment was also admitted and restored to the TPO.
The Tribunal held that the reopening of assessment under Section 148 was bad in law as it was based on a 'change of opinion' without any tangible material. Therefore, the disallowance sustained by the CIT(A) was deleted.
The Tribunal, citing the principle that law aids the vigilant and not those who sleep on their rights, and following various High Court and Supreme Court judgments, decided to dismiss the appeal for non-prosecution.
The Tribunal held that the delay in filing the tax audit report was due to the delay in completing the statutory audit, which was caused by several factors including staff resignations and migration to a new ERP system. Following a co-ordinate bench decision, the Tribunal found reasonable cause for the delay.
The tribunal held that the CIT(A) passed an ex-parte order without providing the assessee an opportunity to be heard. Therefore, the order of the CIT(A) was set aside.
The Tribunal, noting the assessee's lack of interest in prosecuting the appeal, dismissed it without going into the merits of the case. This decision was supported by a precedent from the Delhi Bench of ITAT.
The Tribunal held that the expenses incurred to maintain the company's status as a going concern during a lull phase of business were allowable. However, the legal expenses related to an increase in share capital were not deductible.
The Tribunal held that the Revenue should not have filed the appeal given the low tax effect and the binding instructions from the CBDT. The appeal was dismissed without going into the merits of the case.
The Tribunal agreed that the entire investment could not be attributed to one year and accepted the CIT(A)'s estimation of Rs. 3,92,506/- as the investment for the year. However, it modified the CIT(A)'s finding that this investment was out of interest income.
The Tribunal held that the assessee had discharged its primary onus by providing the identity, creditworthiness, and genuineness of the share application money. The AO failed to conduct further investigation despite having complete information, and mere failure to locate parties or low income of applicants is not sufficient to doubt the transaction.
The Tribunal held that the reassessment proceedings were not sustainable because the AO failed to apply his mind independently to the information received and did not have a valid 'reason to believe' that income had escaped assessment. The satisfaction recorded by the Joint Commissioner was also found to be perfunctory.
The Tribunal held that the assessee was not interested in prosecuting the appeals due to repeated non-appearance. Therefore, the appeals were dismissed for want of prosecution.
The Tribunal held that the appeal was not maintainable due to low tax effect, as it was below the monetary limit prescribed by the CBDT circular. The circular also has retrospective effect, allowing for withdrawal or non-pressing of pending appeals.
The Tribunal noted that the assessee was not interested in prosecuting the appeals. Following established legal precedent, the appeals were dismissed for want of prosecution.
The Tribunal held that the payments made by the assessee were reimbursements of expenses incurred by other entities. Following a previous ITAT decision, it was held that such reimbursements are not considered expenditure in the hands of the assessee and therefore, Section 40(a)(ia) is not applicable. The primary obligation for TDS would lie with the entity that originally incurred the expenditure.
The Tribunal confirmed additions related to alleged cash receipts for plot bookings and brokerage on certain deals, finding sufficient evidence in seized documents and lack of explanation from the assessee. However, other additions were deleted as they lacked proper basis or were found to be unsubstantiated.
The Tribunal held that the sales tax subsidy, given for establishing new industries in backward areas, is a capital receipt. The Tribunal followed its own previous decisions and those of coordinate benches on identical facts.
The Tribunal held that the Department's appeal was not maintainable due to the low tax effect, as per CBDT Circular No. 21/2015. The Tribunal directed that pending appeals below the specified tax limits should be withdrawn or not pressed.
The Tribunal held that the amendments to Section 43(5)(d) and Section 73(4) should be construed as beneficial and retrospective in nature for the purpose of set-off. Therefore, brought forward losses from derivative transactions are eligible for set-off against profits from the same business in subsequent years.
The Tribunal held that once books of accounts are rejected and income is estimated on turnover basis, further additions for individual expenses are not sustainable. The Tribunal also found that the addition for unexplained cash deposit was not sustainable as the assessee had provided explanations and documentary evidence.
The Tribunal held that the issue was covered by its own prior decision in the assessee's own case for AY 2009-10, which was upheld by the Delhi High Court. Therefore, no part of the assessee's income was assessable in India.
The Tribunal upheld the CIT(A)'s order, following its own previous decisions for the assessment years 2008-09 and 2009-10. The Tribunal found that the rental income should be assessed under 'income from house property' and that the restricted disallowance of expenses was justified.
The Tribunal held that the assessee is eligible for deduction under Section 80HH on income derived from manufacturing activities, even if it was not the primary business. However, due to a lack of separate accounts, the quantum of deduction needed to be calculated by the AO.
The Tribunal held that the disallowance under Section 14A cannot exceed the exempt income earned by the assessee. Therefore, the disallowance was restricted to the actual exempt income.
The Tribunal followed the ratio laid down by the Hon'ble Jurisdictional High Court in the assessee's own case for a preceding year. The High Court had held that computer software produced or manufactured qualifies for the benefit under Section 10B.
The tribunal held that the corporate disallowance for management consultancy and business auxiliary services was unjustified as MAP proceedings accepted the services and payment allocation. For technical know-how and trademark usage, the payments were deemed revenue expenditure, not capital, and the disallowance was deleted, subject to MAP retained transfer pricing adjustment.
The Tribunal, following a coordinate bench decision, set aside the issues regarding business closure and expense claims to the AO for fresh adjudication. Regarding the disallowance of set-off of business loss, the Tribunal held that Section 154 cannot be invoked for debatable issues and reversed the CIT(A)'s order.
The Tribunal held that the CIT(A) had failed to follow the mandatory provisions of Section 250 of the Income Tax Act, 1961, by not providing a speaking order and an opportunity to be heard. Therefore, the appeal was set aside.
The Tribunal found that the CIT(A) had not properly considered the remand report from the AO. Both parties agreed that the case should be restored to the AO for fresh assessment.
The tribunal dismissed the appeal for want of prosecution, citing the assessee's lack of interest in pursuing the appeal. The assessee was granted liberty to file an application to recall the order if they could demonstrate sufficient cause for their absence.
The Tribunal held that the CBDT circular regarding monetary limits for appeals is binding on the Department. Since the tax effect was below the prescribed limit, the Department should have withdrawn or not pressed the appeal.
The Tribunal found that the CIT(A) had not properly considered the remand report from the AO. Both parties agreed that the case should be restored to the AO for fresh assessment.
The Tribunal noted that as per CBDT Circular No. 21/2015, appeals with a tax effect below Rs. 10 lakhs should be withdrawn or not pressed. Consequently, the Tribunal dismissed both appeals.
The Tribunal held that the assessee is eligible for deduction under Section 80HH on income derived from manufacturing activities, even if it was not the primary business. However, due to a lack of separate accounts, the quantum of deduction needed to be calculated by the AO.
The Tribunal, following established rules and precedents, treated the appeal as unadmitted and dismissed it. The Tribunal clarified that the appeal could be recalled if the assessee provided satisfactory reasons for non-appearance.
The Tribunal held that the Department's appeal was not maintainable as the tax effect was below the prescribed monetary limit of Rs. 10,00,000/- as per CBDT Circular No. 21/2015. The circular is applicable retrospectively to pending appeals.
The Tribunal held that the reassessment proceedings were initiated without any fresh or tangible material and were actuated by a mere change of opinion by the Assessing Officer. Following the Supreme Court's decision in CIT vs. Kelvinator of India Ltd., the Tribunal quashed the reassessment proceedings.
The ITAT upheld the CIT(A)'s decision, finding that the assessee had provided sufficient evidence for the genuineness of the sales promotion expenses and that the rebates/discounts to the related party were part of a genuine business arrangement without tax evasion. The Tribunal noted that the transactions were recorded and did not result in revenue loss.
The Tribunal held that the Department's appeal was not maintainable as the tax effect was less than Rs. 10,00,000/- as per CBDT Circular No. 21/2015. The Department should have withdrawn or not pressed the appeal.
The Tribunal held that the assessee is eligible for deduction under Section 80HH on income derived from manufacturing activities, even if it was not the primary business. However, due to a lack of separate accounts, the quantum of deduction needed to be calculated by the AO.
The Tribunal held that the assessee is eligible for deduction under Section 80HH on income derived from manufacturing activities, even if it was not the primary business. However, due to a lack of separate accounts, the quantum of deduction needed to be calculated by the AO.
The Tribunal upheld the CIT(A)'s decision to delete the disallowances. It found that prior period expenses were allowable as bills were received in the relevant year, commission paid for raising private equity was not capital expenditure, and advertisement expenses were justified against income earned from selling publishing rights.
The Tribunal upheld the CIT(A)'s decision to delete the additions related to unexplained cash credits and unsecured loans, finding that the assessee had established the genuineness of the transactions. The Tribunal also confirmed the CIT(A)'s deletion of a significant portion of the cash shortage addition, restricting it to an unexplained amount.
The Tribunal, following a coordinate bench decision, set aside the issues regarding business closure and expense claims to the AO for fresh adjudication. Regarding the disallowance of set-off of business loss, the Tribunal held that Section 154 cannot be invoked for debatable issues and reversed the CIT(A)'s order.
The Tribunal upheld the CIT(A)'s decision, following the Delhi High Court's ruling in the assessee's own case. The High Court had held that the JV was not a single assessable unit and was liable to be taxed as an association of persons.
The Tribunal upheld the CIT(A)'s decision, following the Delhi High Court's ruling in the assessee's own case. The High Court had held that the JV was not a single assessable unit and was liable to be taxed as an association of persons.