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684 orders · Page 9 of 14
The Tribunal held that incurring expenses wholly and exclusively for business purposes is necessary for a company, even without sale or purchase transactions. The Tribunal noted that similar expenses were allowed in a preceding assessment year, indicating the business was operational.
The Tribunal held that the tax effect must be calculated separately for each assessment year and for each assessee. Since the individual tax effect in each appeal was below the prescribed limit, the appeals were not maintainable.
The Tribunal held that the tax effect must be calculated separately for each assessment year and for each assessee. Since the individual tax effect in each appeal was below the prescribed limit, the appeals were not maintainable.
The Tribunal held that the tax effect must be calculated separately for each assessment year and for each assessee. Since the individual tax effect in each appeal was below the prescribed limit, the appeals were not maintainable.
The Tribunal held that the tax effect must be calculated separately for each assessment year and for each assessee. Since the individual tax effect in each appeal was below the prescribed limit, the appeals were not maintainable.
The Tribunal held that the disallowance under Section 14A was not warranted as the assessee did not earn any exempt income during the year. Regarding transfer pricing, the Tribunal remitted the issue of working capital adjustment back to the TPO for recalculation as per DRP's directions.
The Tribunal upheld the CIT(A)'s order, finding that the AO was given an opportunity to verify the additional evidence and offered no adverse comments. The evidence was deemed sufficient to establish the genuineness of the creditors.
The Tribunal held that the comparability of the Transport segment with the Refrigeration (non-AE) segment required further examination by the TPO/AO, considering expert opinions and the specific facts of each assessment year. It also remitted the issue of interest on trade receivables to the AO/TPO for fresh adjudication.
The Tribunal held that the comparability of the Transport segment with the Refrigeration (non-AE) segment required further examination by the TPO/AO, considering expert opinions and the specific facts of each assessment year. It also remitted the issue of interest on trade receivables to the AO/TPO for fresh adjudication.
The Tribunal found that a co-ordinate bench had previously quashed the reopening of the assessment and the notice issued under Section 148. Since the reopening was invalid, nothing further survived in the appeal.
The Tribunal held that the comparability of the Transport segment with the Refrigeration (non-AE) segment required further examination by the TPO/AO, considering expert opinions and the specific facts of each assessment year. It also remitted the issue of interest on trade receivables to the AO/TPO for fresh adjudication.
The Tribunal held that the CIT(A) exceeded his jurisdiction by directing the AO to initiate proceedings under Sections 147/148 after quashing the assessment order under Section 153C. Such directions are uncalled for and deserve to be expunged.
The Tribunal held that it was unclear whether the additions were due to purchases or sales outside the books, and the addition was sustained on profit estimation. Additionally, the penalty notice was found to be defective for not specifying the charge.
The Tribunal held that the return filed under Section 153A should be treated as a fresh return, allowing the assessee to claim deductions and expenses legally. The Tribunal also ruled that sub-licensing income should be considered on a net basis after deducting related expenses for the purpose of Section 80IC deduction.
The Tribunal held that the CIT(A) had deleted the addition by ignoring documents and evidence, including statements of directors, which contradicted the assessee's position. The Tribunal found that the AO had sufficient evidence to justify the addition.
The Tribunal held that while the claim did not strictly meet the conditions for bad debts under Section 36(1)(vii) r.w.s 36(2), the loss of the security deposit was a business loss. Therefore, it should be considered under Section 28 r.w.s 37 of the Act.
The Tribunal held that the CIT(A) exceeded his jurisdiction by directing the AO to initiate proceedings under Sections 147/148 after quashing the assessment order under Section 153C. Such directions are uncalled for and deserve to be expunged.
The Tribunal upheld the CIT(A)'s deletion of the addition on account of agricultural income, citing consistency and evidence like land records and tax payments. Regarding cash credits, the Tribunal found that the CIT(A) had appreciated the evidence presented by the assessee, including sale deeds and disclosures in returns, which explained the cash deposits.
The Tribunal upheld the CIT(A)'s deletion of the addition on account of agricultural income, citing consistency and evidence like land records and tax payments. Regarding cash credits, the Tribunal found that the CIT(A) had appreciated the evidence presented by the assessee, including sale deeds and disclosures in returns, which explained the cash deposits.
The Tribunal held that the CIT(A) exceeded his jurisdiction by directing the AO to initiate proceedings under Sections 147/148 after quashing the assessment order under Section 153C. Such directions are uncalled for and deserve to be expunged.
The Tribunal held that the CBDT circular, which sets a monetary limit of Rs. 20,00,000/- for appeals, has statutory force. Since the tax effect was below this limit and no exclusion applied, the appeal was not maintainable.
The Tribunal held that an appeal requires effective pursuit, not just filing. Since the assessee failed to appear, the appeal was dismissed as un-admitted.
The Tribunal noted that the assessee did not appear for the hearing and had not filed any request for adjournment. Based on this, the Tribunal concluded that the assessee was not interested in pursuing the appeal.
The Tribunal held that the tax effect in the appeal was less than Rs. 20 lakhs, as per the CBDT Circular No. 3/2008. Consequently, the appeal filed by the Department was dismissed.
The Tribunal held that the purchase of software for own use was a sale transaction and not royalty, thus no tax was required to be deducted at source. Consequently, the disallowance made by the AO and sustained by the CIT(A) on this ground was deleted. The issues related to Section 80HHE became academic as Section 10A deduction was allowed.
The Tribunal held that the CIT(A) exceeded his jurisdiction by directing the AO to initiate proceedings under Sections 147/148 after quashing the assessment order under Section 153C. Such directions are uncalled for and deserve to be expunged.
The Tribunal held that the issue of other income for Unit I eligible for 80IC deduction should be set aside to the Assessing Officer for re-adjudication. It also held that product development expenses are revenue in nature and allowed the assessee's appeal on this ground.
The Tribunal held that the appellate authority is not restricted from entertaining legal claims. The issue was restored to the AO to consider the Section 10A claim in light of the Yokogawa India Ltd. judgment.
The Tribunal held that the appeal by the Revenue was not maintainable as the tax effect was less than Rs. 10 lakhs, as per CBDT Circular No. 21/2015. Therefore, the ground raised by the Revenue was dismissed.
The Tribunal dismissed the appeal filed by the Revenue. This was based on a CBDT circular directing the department not to file appeals where the tax effect does not exceed Rs. 20 lakhs.
The Tribunal found that the distance of the land from municipal limits and the nature of the land required further verification. It directed the AO to examine additional evidence and re-assess the issue.
The Tribunal held that income from sub-leasing manufacturing capacity, packaging services, and resale of raw materials constitutes business income. It also ruled that related expenses are allowable business expenditures.
The Tribunal held that the issue of other income for Unit I eligible for 80IC deduction should be set aside to the Assessing Officer for re-adjudication. It also held that product development expenses are revenue in nature and allowed the assessee's appeal on this ground.
The Tribunal directed the exclusion of 'Vishal Information Technologies Ltd.' as a comparable, finding it to be a KPO service provider, unlike the assessee's captive service model. Issues related to 'Flextronics Software (Segment)' and 'R Systems International Ltd.' were restored to the TPO for re-computation of margins after verification.
The Tribunal condoned the delay in filing the appeal, finding the assessee's explanation for the delay to be plausible and without malafide intention. Subsequently, the Tribunal held that the CIT exceeded his jurisdiction under Section 263 as the AO's order was neither erroneous nor prejudicial to the revenue.
The Tribunal held that the show cause notice was invalid as it did not specify whether the penalty proceedings were initiated for concealment of income or furnishing inaccurate particulars of income. Consequently, the penalty proceedings were vitiated.
The Tribunal dismissed the Revenue's appeal. This was based on a CBDT Circular revising the monetary limit for filing appeals before the ITAT to Rs. 20 lakhs, and directing withdrawal of pending appeals below this limit.
The Tribunal dismissed the Revenue's appeal based on CBDT Circular No. 3/2018, which revised the monetary limit for filing appeals before the ITAT to Rs. 20 lakhs. The circular also directed withdrawal or non-pressing of pending appeals below this limit.
The Tribunal held that the deletion of additions by the CIT(A) was justified. For the low GP rate, market conditions and principal's margins were valid reasons. For the advances, the Tribunal found no evidence that the liability had ceased or that a deduction was claimed earlier, making the AO's addition unsustainable.
The Tribunal held that the provision for liquidated damages was not allowable as a contingent liability. However, it allowed the assessee's claim regarding transfer pricing adjustment for cost reimbursements, finding that the assessee acted as a facilitator for its AE and the transaction was a pass-through cost without requiring a markup.
The Tribunal held that depreciation is not allowable on land, but if the purchase price was composite and not bifurcated, depreciation on the building component is allowable. The Tribunal also held that interest on loans taken for business purposes is allowable, even if shown in the capital account.
The Tribunal held that the penalty order was not time-barred and that reassessment proceedings were separate from penalty proceedings. However, it found that the CIT(A) had not adequately decided the assessee's submissions regarding genuine transactions and reasonable cause.
The Tribunal dismissed the Revenue's appeal for AY 2010-11, upholding the CIT(A)'s deletions. For AY 2011-12, the Tribunal remanded the issues of interest on advances to sister concerns and interest on capital work-in-progress back to the AO for fresh verification of the source of funds.
The Tribunal dismissed the Revenue's appeal for AY 2010-11, upholding the CIT(A)'s deletions. For AY 2011-12, the Tribunal remanded the issues of interest on advances to sister concerns and interest on capital work-in-progress back to the AO for fresh verification of the source of funds.
The Tribunal dismissed the appeal filed by the Revenue, citing a CBDT circular that mandates not pressing appeals with a tax effect below Rs. 20,00,000/-. The decision was made without going into the merits of the case.
The Tribunal held that the ad-hoc addition for personal use of expenses was unjustified without specific findings of fact. Regarding business promotion expenses, the Tribunal found the 50% disallowance excessive, considering the assessee's turnover and declared income.
The Tribunal held that the intention of the parties regarding the finalization of the sale needs to be ascertained, especially since only a small portion of the sale consideration was received and the transaction was litigious. Therefore, the matter was remanded to the AO for further examination.
The Tribunal held that since the revisionary order under Section 263, which formed the basis for the subsequent assessment order, was quashed, the assessment proceedings became infructuous. Consequently, the impugned assessment order was quashed.
The Tribunal held that the assessee's non-appearance indicated a lack of interest in prosecuting the appeal. Following established precedents, the appeal was dismissed as un-admitted.