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328 orders · Page 4 of 7
The Tribunal upheld the CIT(A)'s order, finding that the assessee provided sufficient evidence, including a certificate from the recipient and ledger account details, to substantiate the discount given to M/s Tata Chemicals Limited.
The Tribunal held that the assessee had discharged its onus by providing documentary evidence establishing the identity, creditworthiness, and genuineness of the share transactions. The AO had not brought any contrary evidence to disprove the genuineness.
The Tribunal held that the amount of Rs. 3,96,37,875/- pertains to the reinstatement of closing balance of creditors for fixed assets, representing a notional entry on capital account. Therefore, it cannot partake the character of income in the hands of the taxpayer.
The Tribunal held that Rule 8D of the Income Tax Rules, 1962, was not applicable for the assessment year 2007-08, as it was prospective from assessment year 2008-09. The AO also failed to provide a basis for certain disallowances.
The Tribunal held that since the STPI approval was received in the previous year relevant to AY 2009-10, profits derived from export of computer software during AY 2010-11 would be eligible for deduction under Section 10A, provided other conditions were met. The Tribunal noted that the AO had allowed the deduction for AY 2011-12.
The Tribunal held that since the quantum proceedings, specifically the validity of reopening, were set aside to the CIT(A), the penalty imposed could not stand. Therefore, the penalty was deleted.
The Tribunal held that the CIT(Appeals) order was not erroneous. It found that commission payments were to be made after receipt of export proceeds, consistent with the mercantile system of accounting and the installment-based realization of export proceeds. The Tribunal also noted the consistency of such commission payments in prior years, which were allowed by the Revenue.
The Tribunal held that the reopening of assessment was bad in law. The AO had not applied his mind to the information received, evidenced by duplicate entries in the provided data. Furthermore, the approving authority (CIT) had mechanically granted approval without recording any satisfaction, rendering the notice under Section 148 invalid.
The Tribunal, in accordance with Rule 19(2) of the ITAT Rules and various judicial precedents, treated the appeal as unadmitted due to the assessee's non-appearance. The appeal was dismissed in limine.
The Tribunal held that the approval for issuing the notice under Section 148 was obtained from the Additional CIT, whereas for reassessment after four years, approval from the Chief Commissioner or Commissioner is required under Section 151(1). Therefore, the notice was bad in law.
The Tribunal held that the approval for issuing the notice under Section 148 was granted by the Commissioner of Income-Tax (CIT) instead of the Joint Commissioner (JCIT), which is required under Section 151(2) when the assessment is reopened after four years and the assessee has not filed a return. Therefore, the notice of reopening was not sustainable in law.
The Tribunal, following precedent, held that the issuance of notice does not automatically admit an appeal. Due to the assessee's non-appearance, the appeal was considered unadmitted.
The Tribunal noted that as per CBDT Circular No. 21/2015, appeals with a tax effect below Rs. 10 Lakhs should not be pressed or should be withdrawn. Therefore, the Revenue's appeal was dismissed.
The Tribunal held that reimbursements of Service Tax should be excluded from gross receipts for the purpose of determining income under Section 44BB. The appeal was dismissed based on previous High Court and ITAT decisions.
The Tribunal upheld the CIT(A)'s decision, following its own prior ruling on similar facts for the assessee. The Tribunal found no substantiation for the AO's allegations of expense diversion.
The Tribunal found that the CIT(A) did not properly appreciate the additional evidence, including affidavits, regarding the transaction. Therefore, the case was set aside to the AO for fresh adjudication.
The Tribunal held that the issue of AMP expenses being an international transaction needs fresh determination by the TPO, considering High Court judgments. Regarding the 'Rights fee', it was held not to be royalty or fees for technical services, and thus Section 40(a)(i) was not attracted.
The Tribunal held that the disallowance under Section 14A was to be computed as per Rule 8D, but the assessee was to be given credit for the suo motu disallowance already offered. The Tribunal also deleted the disallowance of business promotion expenses, following a previous decision in the assessee's own case.
The Tribunal held that the reassessment order was invalid and void ab initio because the jurisdictional Assessing Officer had not issued or served any notice under Section 148. Consequently, the assessment proceedings were illegal and unsustainable.
The tribunal found that the CIT(A) admitted additional evidence without providing the AO an opportunity to respond or calling for a remand report. Therefore, the case was remanded back to the AO for a fresh decision.
The Tribunal, in the absence of the assessee and relying on various judicial precedents, dismissed the appeal. The assessee was granted liberty to recall the appeal upon filing a proper application.
The Tribunal held that the DRP failed to provide a speaking and reasoned order, not properly adjudicating the assessee's objections. Therefore, the matter was remitted back to the DRP for a fresh, well-reasoned decision.
The tribunal allowed the assessee's request to withdraw the appeal. The reassessment proceedings for the relevant assessment year had been completed, and the returned income was accepted.
The Tribunal held that since the additions forming the basis of the penalty were set aside and remitted to the AO for fresh adjudication, the penalty imposed was not sustainable at that juncture. Therefore, the penalty deserves to be quashed.
The Tribunal upheld the CIT(A)'s order, stating that penalty cannot survive if the quantum addition is deleted. For the remaining addition, the Tribunal found the assessee's explanation for non-deduction of TDS to be bonafide and all facts were disclosed, thus not fulfilling the conditions for penalty under Section 271(1)(c).
The assessee requested to withdraw the appeal as the assessment proceedings were completed. The Tribunal granted the permission to withdraw the appeal.
The Tribunal found that vital documentary evidence, available to the lower authorities, was not properly considered. Therefore, the case was remitted back to the AO for a fresh decision after considering all documents and providing an opportunity to the assessee.
The Tribunal held that the disallowance under Section 14A was to be computed as per Rule 8D, but the assessee was to be given credit for the suo motu disallowance already offered. The Tribunal also deleted the disallowance of business promotion expenses, following a previous decision in the assessee's own case.
The Tribunal held that the amendment to Section 40(a)(ia) and Section 201(1) is clarificatory and retrospective. Since the payee had already paid the tax and filed their return, the assessee should not be treated as being in default.
The Tribunal held that in the absence of a specific clause in the agreement for charging interest on delayed payments or non-refund of deposits, notional interest cannot be taxed. The assessee had taken all steps to recover the deposit.
The Tribunal held that the reassessment proceedings were invalid as the Assessing Officer failed to demonstrate the assessee's failure to disclose fully and truly all material facts. Reopening the assessment beyond four years without new tangible material amounted to a change of opinion.
The Tribunal found that the CIT(A) had not considered vital documentary evidence submitted by the assessee. Therefore, the issue was remitted back to the CIT(A) for fresh adjudication after considering all documents and providing an adequate opportunity of hearing to the assessee.
The Tribunal found merit in the assessee's argument that the CIT(A) failed to address the grounds concerning the validity of the assessment order and the transfer of proceedings. Consequently, the matter was set aside and restored to the CIT(A) for fresh adjudication.
The Tribunal held that the reopening of assessment was bad in law because the AO had not applied his mind to the information received and had merely extracted it to conclude escapement of income. The Tribunal upheld the CIT(A)'s order on merits.
The Tribunal held that the issue of AMP expenses being an international transaction needs fresh determination by the TPO, considering High Court judgments. Regarding the 'Rights fee', it was held not to be royalty or fees for technical services, and thus Section 40(a)(i) was not attracted.
The Tribunal found that the issue was identical to previous cases where the matter was restored to the Assessing Officer for fresh verification. The Tribunal directed the AO to examine the purchase/sale transactions, stock entries, and potentially summon the purchaser, while also considering the assessee's previous stands.