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458 orders · Page 7 of 10
The Tribunal held that the non-compliance with statutory notices was due to a reasonable cause, specifically the director's judicial custody and a large volume of work. Therefore, the penalties were deleted.
The Tribunal noted that the assessee requested withdrawal of the appeal and the revenue had no objection. Therefore, the appeal was dismissed as withdrawn.
The tribunal acknowledged the assessee's application to withdraw the appeals. The Revenue did not object to the withdrawal. Consequently, the appeals were dismissed as withdrawn.
The Tribunal held that rental income from the terrace floor is to be treated as 'income from house property' as per the jurisdictional High Court's decision. The issue of disallowance under Section 14A was remanded to the AO for fresh adjudication.
The Tribunal noted a discrepancy in the CIT(A)'s observation regarding the hearing date and the date of absence. Therefore, the Tribunal set aside the CIT(A)'s order and restored the matter for fresh adjudication.
The Tribunal held that the TPO did not correctly compute the arm's length price (ALP) under the CUP method as it did not compare the price paid but rather a ratio of expenses to sales. Following a precedent, the matter was remitted back for re-adjudication.
The Tribunal held that the assessee had sufficiently proved the identity, genuineness, and creditworthiness of the cash creditors. The Tribunal also found no infirmity in the deletion of the interest disallowance on interest-free advances to a sister concern.
The Tribunal found that the lender's creditworthiness and the genuineness of the transaction were not adequately established, especially given the lender's nil income and the questionable nature of the source companies. The matter was remanded to the Assessing Officer for fresh adjudication.
The Tribunal allowed the assessee's claim for incentive on levy sugar, following its consistent view. It upheld the disallowance of a portion of expenses claimed on self-made vouchers. The Tribunal also allowed the deduction of excess depreciation for book profit computation, following High Court judgments.
The Tribunal allowed the assessee's claim for incentive on levy sugar, following its consistent view. It upheld the disallowance of a portion of expenses claimed on self-made vouchers. The Tribunal also allowed the deduction of excess depreciation for book profit computation, following High Court judgments.
The Tribunal allowed the assessee's claim for incentive on levy sugar, following its consistent view. It upheld the disallowance of a portion of expenses claimed on self-made vouchers. The Tribunal also allowed the deduction of excess depreciation for book profit computation, following High Court judgments.
The Tribunal upheld the CIT(A)'s order, finding that the intellectual property rights were used for the assessee's trading business. The revenue failed to show any provision disallowing depreciation on intellectual property used for trading.
The Tribunal held that the amount received by the assessee from the trust was not taxable as 'profit in lieu of salary'. It followed a coordinate bench's decision on identical facts, which had deleted a similar addition.
The Tribunal held that Media Research Users Council (MRUC) is not a suitable comparable for benchmarking the international transactions due to functional dissimilarity, being a not-for-profit organization, and not meeting the turnover filter. Consequently, the addition made by the TPO based on MRUC was not sustained.
The Tribunal held that the assessee is eligible for the 5% adjustment under the proviso to section 92C(2) of the Act, as amended. It also directed the AO to allow deduction under section 10A and examine the credit for taxes paid.
The Tribunal considered the written request for withdrawal and the lack of objection from the revenue. Consequently, the appeal was dismissed as withdrawn.
The Tribunal upheld the CIT(A)'s decision to delete the penalty. It agreed that the penalty order was premature as the quantum appeal, which the penalty was consequential to, was still pending.
The Tribunal held that the assessee is eligible for the 5% adjustment under the proviso to section 92C(2) of the Act, as amended. It also directed the AO to allow deduction under section 10A and examine the credit for taxes paid.
The Tribunal held that the reassessment proceedings were invalid as the reopening was solely based on information from the Investigation Wing without independent application of mind by the Assessing Officer. Therefore, the subsequent assessment was void ab initio.
The Tribunal held that the penalty order was not specific about the charge (concealment or inaccurate particulars) under Section 271(1)(c). Following a previous decision, the Tribunal deleted the penalty.
The Tribunal held that the penalty order was not specific about the charge (concealment or inaccurate particulars) under Section 271(1)(c). Following a previous decision, the Tribunal deleted the penalty.
The Tribunal held that the penalty order was not specific about the charge (concealment or inaccurate particulars) under Section 271(1)(c). Following a previous decision, the Tribunal deleted the penalty.
The Tribunal noted that similar issues for the same assessment year were already decided in favor of the assessee by a previous Tribunal order. However, one ground was remitted back to the CIT(A) for fresh adjudication, which the CIT(A) failed to comply with.
The Tribunal noted that similar issues for the same assessment year were already decided in favor of the assessee by a previous Tribunal order. However, one ground was remitted back to the CIT(A) for fresh adjudication, which the CIT(A) failed to comply with.
The Tribunal accepted the assessee's request for withdrawal of the appeal. The appeal was accordingly dismissed as withdrawn.
The Tribunal held that the department should not have filed the appeal given the low tax effect, as per CBDT circulars and Section 268A of the Income Tax Act. The appeal was dismissed without going into the merits of the case.
The Tribunal upheld the CIT(A)'s decision, finding that the expenditure on power plant parts was revenue in nature for keeping machinery running. It also held that prior period cess liability crystallized in the current year and that disallowance for vehicle use was not justified in the case of a company without sound basis.
The Tribunal held that, following the jurisdictional High Court's decision, disallowance under Section 14A cannot exceed the exempt income earned. Therefore, the addition was restricted to the exempt income amount.
The Tribunal held that the assessment orders were passed against a non-existent entity and were therefore nullities in the eyes of law. Consequently, the appeals and cross-objections were decided on this preliminary legal ground.
The Tribunal held that the AO did not apply his mind independently and that the information received was not tangible material. Since the AO did not make any additions based on the recorded reasons and the reassessment proceedings were initiated mechanically, they were deemed bad in law.
The Tribunal held that the assessment orders were passed against a non-existent entity and were therefore nullities in the eyes of law. Consequently, the appeals and cross-objections were decided on this preliminary legal ground.
The Tribunal held that the AO had made adequate inquiries regarding the investment and had made a protective addition. Therefore, the Principal CIT lacked valid jurisdiction under Section 263 to revise the assessment order.
The Tribunal held that the addition made by the AO was not correct or justified. The CIT(A) was also incorrect in upholding the addition, as the explanation of cash withdrawals from one bank and deposits into another was sufficiently established by the cash flow statement and bank account copies.
The Tribunal held that the reassessment proceedings were invalid because the Assessing Officer did not independently apply his mind before reopening the assessment, relying solely on information from the Investigation Wing. Therefore, the subsequent proceedings were void.
The Tribunal held that the delay in realization of receivables is not an international transaction per se, but a consequence of the main transaction of services rendered. It also noted that the taxpayer did not charge interest on delayed receivables from unrelated parties, making the adjustment unsustainable.
The Tribunal held that the delay in realization of receivables is not an international transaction per se, but a consequence of the main transaction of services rendered. It also noted that the taxpayer did not charge interest on delayed receivables from unrelated parties, making the adjustment unsustainable.
The Tribunal held that the non-compliance was due to reasonable cause, specifically the large volume of work and a director being in judicial custody. Therefore, the penalties were deleted.
The Tribunal found that neither the Assessing Officer nor the CIT(A) provided proper opportunities to the assessee. The CIT(A) had also enhanced additions without adequate notice, violating principles of natural justice.
The tribunal dismissed the appeal for non-prosecution, citing the principle that law aids the vigilant. The assessee was granted liberty to apply for setting aside the order if they could explain their non-appearance.
The Tribunal held that the transactions between the assessee and advertising agencies were on a principal-to-principal basis, not principal-agent. Therefore, the assessee was not obligated to deduct tax at source under Section 194H.
The Tribunal held that the AO and CIT(A) erred in disallowing the construction expenses without bringing any evidence to prove they were bogus. The assessee had provided bills, confirmations from contractors, and TDS certificates, and the expenses were reflected in the audited balance sheet.
The Tribunal held that the penalty under Section 271(1)(c) was not leviable as the expenses were genuinely incurred, and the disapproval by DSIR occurred after the return filing. Therefore, there was no concealment of income or furnishing of inaccurate particulars.