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447 orders · Page 5 of 9
The Tribunal upheld the decision of the CIT(A) that tax deduction at source should be made under Section 194C for payments made for hiring of buses. This was based on previous Tribunal and High Court rulings in similar cases involving the same assessee.
The Tribunal upheld the decision of the CIT(A) that tax deduction at source should be made under Section 194C for payments made for hiring of buses. This was based on previous Tribunal and High Court rulings in similar cases involving the same assessee.
The Tribunal found that the facts related to depreciation and the short-term capital gain were not clearly set out in the lower authorities' orders. Therefore, the matters were remanded back to the Assessing Officer for fresh verification.
The Tribunal held that the appeal of the revenue deserved to be dismissed due to low tax effect, as it fell within the ambit of CBDT Circular No. 21/2015. The circular makes revised monetary limits applicable retrospectively to pending appeals and is binding on tax authorities.
The Tribunal held that the authorities below should have extended the benefit of Section 23(1)(c) of the Act to the assessee, as the property remained vacant despite the assessee's best efforts. The addition made by the AO was therefore incorrect.
The Tribunal held that the AO was not justified in treating the income as business income. Following the principle of consistency, as similar transactions were accepted as capital gains in earlier assessment years, the AO was directed to treat the amount as short-term capital gains.
The Tribunal held that the penalty order was bad in law because the Assessing Officer failed to specify under which limb of Section 271(1)(c) of the Income Tax Act, 1961, the penalty proceedings were initiated. This decision was based on High Court and Supreme Court precedents.
The Tribunal held that the penalty order was bad in law because the Assessing Officer failed to specify under which limb of Section 271(1)(c) of the Income Tax Act, 1961, the penalty proceedings were initiated. This decision was based on High Court and Supreme Court precedents.
The Tribunal found that the assessment orders and CIT(A) orders lacked clarity on the manufacturing activities and the short-term capital gain calculation. Therefore, the matters were remanded back to the Assessing Officer for fresh verification.
The Tribunal held that the appeal was not being prosecuted by the assessee and, therefore, dismissed the appeal for non-prosecution, citing several judicial precedents.
The Tribunal held that the disallowance under Section 40(a)(ia) is applicable even if the interest was paid during the financial year and not just if it was payable at the year-end. The assessee failed to satisfy how the section was not applicable.
The Tribunal upheld the CIT(A)'s order, finding that the assessee had explained the source of funds from the sale of agricultural land. The Tribunal also noted that the land was not a capital asset as per Section 2(14) of the Income Tax Act, and therefore, capital gains tax could not be charged.
The Tribunal held that the department cannot take contradictory stands by accepting the genuineness of the companies in other assessments while treating them as accommodation entry providers in the assessee's case. The additions made by the AO and confirmed by the CIT(A) were deemed bad in law.
The Tribunal held that the assessee had provided explanations and accounts during assessment and penalty proceedings, and the additions were not based on concealed income. Therefore, the penalty was not leviable.
The Tribunal upheld the CIT(A)'s decision that the reassessment proceedings were invalid as they were based on a change of opinion without any failure on the part of the assessee to disclose material facts. It also upheld the deletion of the addition under Section 36(1)(iii), finding that the assessee had sufficient interest-free funds to advance to its subsidiary.
The Tribunal held that disallowance under Section 14A is not warranted if the assessee has not earned any exempt income, following the jurisdictional High Court's decision in Cheminvest Ltd. vs. CIT.
The Tribunal held that the appeal of the revenue deserved to be dismissed as the tax effect was below the limit prescribed by CBDT Circular No. 21/2015. The circular applies retrospectively to pending appeals and is binding on tax authorities.
The Tribunal set aside the matter to the AO for de novo assessment, citing principles of natural justice. The assessee was not given adequate opportunity to present their case, and notices were not properly served.
The Tribunal held that the Revenue failed to discharge the onus of proving that the assessee did not disclose material facts fully and truly. Therefore, the reassessment proceedings initiated after four years were in violation of the statutory protection provided under the proviso to Section 147.
The Tribunal upheld the disallowance of Rs. 2,00,000/- on sale promotion expenses as the assessee failed to prove they were exclusively for business. The addition of Rs. 50,000/- on travelling and convenience expenses was also sustained due to lack of specific details and personal element.
The Tribunal held that the Assessing Officer's satisfaction for disallowance under Section 14A was vague and not based on objective findings. Regarding the stock valuation, the Tribunal found the assessee's reasons for valuing obsolete stock at NIL to be justified and tax-neutral in the long run.
The Tribunal found merit in the assessee's contention that the CIT(A) passed an ex-parte order without properly considering the submissions and evidence. Therefore, the case was remitted back to the CIT(A) for fresh adjudication.
The Tribunal held that reopening the assessment under Section 147 after four years was impermissible as the conditions for invoking the proviso were not met. The revenue did not provide evidence of new material or the assessee's failure to disclose facts.
The Tribunal held that the tax effect in the Revenue's appeal was below the monetary limit prescribed by the CBDT for filing appeals. Therefore, the appeal was not maintainable and should have been withdrawn or not pressed.
The Tribunal found that while the AO rejected the books, subsequent assessment orders accepted book results with nominal additions. Therefore, a 5% profit estimation was considered high. The Tribunal reduced the estimated net profit to 3% of gross receipts excluding service tax for the impugned assessment year.
The Tribunal held that the assessee had disclosed all facts regarding the 'imprest' amounts in the books of accounts. Furthermore, the penalty notice issued by the AO was vague, not specifying whether the proceedings were for concealment or furnishing inaccurate particulars. Therefore, the penalty was not leviable.
The CIT(A) was justified in considering the additional evidence provided by the assessee, which proved the expenses were incurred on behalf of the employer. Since the quantum addition was deleted, the penalty levied on it was also cancelled.
The Tribunal held that the CIT(A) failed to pass a speaking order and decide the appeal on merits, which is a violation of natural justice and statutory provisions. Therefore, the CIT(A)'s order was set aside.
The Tribunal held that the subsidy received for setting up or expansion of industry is a capital receipt, not chargeable to tax, based on Supreme Court judgments. The CIT's order under Section 263 was set aside as the Assessing Officer had taken a possible view.
The Tribunal held that both the Assessing Officer and the CIT(A) failed to provide findings regarding the documents received from the DDIT (Inv.) Calcutta and the Calcutta Stock Exchange. Crucially, the assessee was not granted sufficient opportunity to present their case before the Assessing Officer. In the interest of justice, the Tribunal decided to remand the matter back to the Assessing Officer. The AO is directed to consider all the documents and provide the assessee with an opportunity of hearing for confronting the said documents and pleading her case. The Tribunal did not decide on the merits of the addition made by the AO.
The ITAT held that the CIT(A) is required to pass a reasoned order even if the assessee fails to appear. The CIT(A) order was set aside for not complying with Section 250(6) of the Act.
The Tribunal held that the Revenue's appeal was not maintainable due to a low tax effect, as per CBDT Circular No. 21/2015. Consequently, the assessee's cross-objection became infructuous.
The ITAT found that while the AO's assessment proceedings were procedurally sound, the CIT(A) passed a non-speaking order without considering the assessee's submissions and evidence. Therefore, the matter was restored to the CIT(A) for a de novo decision.
The Tribunal held that the DIT(Exemption) did not provide sufficient opportunity to the assessee to substantiate its claim, which is against the principles of natural justice. Therefore, the case was remitted back to the DIT(Exemption) for a fresh decision.
The Tribunal held that the CIT(A) was not justified in dismissing the appeal in limine. The assessee had filed the appeal manually within time, and the delay in electronic filing was due to the transition to a new procedure.
The Tribunal held that the assessee was not provided with sufficient time to respond to the notices and there was no mention of non-cooperation in the assessment orders. Therefore, the penalty was not sustainable.
The Tribunal held that the assessee was not provided with sufficient time to respond to the notices and there was no mention of non-cooperation in the assessment orders. Therefore, the penalty was not sustainable.
The Tribunal held that the assessee was not provided with sufficient time to respond to the notices and there was no mention of non-cooperation in the assessment orders. Therefore, the penalty was not sustainable.
The Tribunal held that the claim made during assessment proceedings is valid, following the jurisdictional High Court's decision. It also ruled that the right to obtain conveyance of immovable property constitutes a capital asset, overturning the CIT(A)'s decision.
The Tribunal held that the AO's additions were made without application of mind, proper inquiry, or providing an opportunity to the assessee. Consequently, the additions were directed to be deleted.
The Tribunal held that the AO's failure to dispose of the assessee's objections regarding the validity of reopening, as mandated by Supreme Court and High Court judgments, vitiated the entire reassessment proceedings. Consequently, the reassessment order was quashed.