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581 orders · Page 4 of 12
The Tribunal found that the CIT(A) dismissed the appeals for non-prosecution without deciding on merits, despite the assessee filing adjournment applications and engaging a representative. Therefore, the appeals were remanded back to the CIT(A) for a decision on merit.
The Tribunal found that the CIT(A) dismissed the appeals for non-prosecution without deciding on merits, despite the assessee filing adjournment applications and engaging a representative. Therefore, the appeals were remanded back to the CIT(A) for a decision on merit.
The Tribunal found that the CIT(A) dismissed the appeals for non-prosecution without deciding on merits, despite the assessee filing adjournment applications and engaging a representative. Therefore, the appeals were remanded back to the CIT(A) for a decision on merit.
The Tribunal held that the notice under section 148 was issued without jurisdiction as it was beyond the statutory period of four years. Consequently, the reassessment order was declared null and void.
The Tribunal found that the CIT(A) dismissed the appeals for non-prosecution without deciding on merits, despite the assessee filing adjournment applications and engaging a representative. Therefore, the appeals were remanded back to the CIT(A) for a decision on merit.
The Tribunal inferred that the assessee was not interested in pursuing the appeal. Following relevant rules and precedents, the appeal was treated as unadmitted and dismissed.
The Tribunal restored both appeals to the file of the CIT(A) for fresh adjudication. The assessee was granted one final opportunity to be heard, with a warning against seeking adjournments.
The Tribunal found that the CIT(A) dismissed the appeals for non-prosecution without deciding on merits, despite the assessee filing adjournment applications and engaging a representative. Therefore, the appeals were remanded back to the CIT(A) for a decision on merit.
The Tribunal held that since the assessee voluntarily revised its income upon receiving TDS certificates and there was no concealment of income, the penalty was not sustainable. The CIT(A)'s order deleting the penalty was upheld.
The Tribunal held that the addition was unsustainable as the assessee had provided a detailed reconciliation showing that the difference in Form 26AS was due to duplicate entries and incorrect data uploaded by the deductor. The Tribunal noted that the assessee had produced all relevant books and invoices.
The Tribunal held that the departmental appeal was improperly and invalidly filed. The appeal was filed prior to the correct appellate order being passed and there was a discrepancy in the assessed income mentioned in the impugned order.
The Tribunal held that the re-characterization of the investment in RPS as a loan by the TPO/Assessing Officer was erroneous. Consequently, the resultant transfer pricing adjustment for notional interest was uncalled for and deserved to be deleted.
The Tribunal held that consistency should be maintained as the CPM method was accepted by the Revenue in preceding and succeeding years for the same assessee and business model. The Tribunal followed the principle of consistency and allowed the assessee's appeal.
The Tribunal held that the addition was unsustainable as the assessee had provided a detailed reconciliation showing that the difference in Form 26AS was due to duplicate entries and incorrect data uploaded by the deductor. The Tribunal noted that the assessee had produced all relevant books and invoices.
The Tribunal held that the CIT(A) erred by deciding the appeal ex-parte without proper consideration of documents and without providing adequate reasons. The matter was restored to the CIT(A) for fresh adjudication.
The Tribunal held that while an HUF cannot be a working partner, the assessee's claim for deduction under Section 80C should be allowed as per various judicial precedents and CBDT circulars, even if not claimed in the original return or if the return was considered belated.
The tribunal inferred that the assessee was not interested in pursuing the appeal. Following relevant rules and judicial precedents, the appeal was treated as unadmitted and dismissed.
The Tribunal dismissed the appeal of the revenue. The Tribunal observed that the CIT(A) had passed a rectification order after relying on multiple judgments. The CIT(A) had noted that the assessee maintained its books of account on NPAs and their interest based on RBI guidelines. The CIT(A) relied on the principle that only real income is taxable and not notional income, citing cases like CIT vs. Shoorji Vallabhdas & Co. (SC) and CIT vs. Motor Credit Co P Ltd. (Mad). The CIT(A) had also followed a similar view taken in preceding assessment years (2008-09 and 2009-10), and the Revenue had not placed any contrary material to show it did not accept those prior orders. Therefore, the Tribunal found no infirmity in the CIT(A)'s order and upheld the deletion of the addition.
The Tribunal held that a portion of the enhanced lease rent attributable to the Trust agreeing not to compete is capital expenditure, while other portions related to surrendering purchase rights, modernization, and market appreciation are revenue expenditure. Depreciation on the capital portion was allowed from 1998.
The Tribunal held that a portion of the enhanced lease rent was capital expenditure (non-compete fee) and another portion was revenue expenditure (surrendering rights, modernization, market appreciation). Depreciation was allowed on the capital portion from a specific date, and the AO was directed to examine the treatment of non-compete fee as revenue expenditure.
The Tribunal held that the reassessment proceedings were validly initiated. The information received from the Directorate of Investigation was specific and constituted tangible material, justifying the reopening.
The Tribunal dismissed the appeal filed by the Revenue. This was based on a CBDT circular revising the monetary limit for filing appeals to the Tribunal to Rs. 20,00,000/-.
The tribunal inferred that the assessee was not interested in pursuing the appeal. Following relevant rules and precedents, the appeal was treated as unadmitted and dismissed.
The Tribunal held that a portion of the enhanced lease rent was capital expenditure (non-compete fee) and another portion was revenue expenditure (surrendering rights, modernization, market appreciation). Depreciation was allowed on the capital portion from a specific date, and the AO was directed to examine the treatment of non-compete fee as revenue expenditure.
The Tribunal dismissed the appeal filed by the Revenue. This was based on a CBDT circular revising the monetary limit for filing appeals to the Tribunal to Rs. 20,00,000/-.
The Tribunal held that the assessee had provided sufficient documentary evidence to prove the genuineness of the purchase and sale of shares through reputed brokers and stock exchanges. The Tribunal found no link between the assessee and the alleged entry providers.
The Tribunal found merit in the assessee's argument that the notice under Section 148 was not properly served due to an incomplete address. Consequently, the assessment made under Section 144/148 was deemed not tenable.
The Tribunal found that the AO passed an ex-parte order without considering the assessee's hospitalization. While the CIT(A) provided an opportunity, the assessee now possesses all necessary evidence. Therefore, the case was remitted back to the AO for fresh adjudication.
The Tribunal held that the assessee had provided sufficient documentary evidence to prove the genuineness of the purchase and sale of shares through reputed brokers and stock exchanges. The Tribunal found no link between the assessee and the alleged entry providers.
The Tribunal held that the assessee had provided sufficient documentary evidence to prove the genuineness of the purchase and sale of shares through reputed brokers and stock exchanges. The reliance on a statement from an employee of an unrelated entity was deemed insufficient to draw adverse inferences against the assessee.
The Tribunal held that a portion of the enhanced lease rent was capital expenditure (non-compete fee) and another portion was revenue expenditure (surrendering rights, modernization, market appreciation). Depreciation was allowed on the capital portion from a specific date, and the AO was directed to examine the treatment of non-compete fee as revenue expenditure.
The Tribunal found discrepancies in the bank statement and balance sheet of the lender, and ambiguity regarding the submission of a crucial letter. Therefore, the matter was restored to the AO for further verification.