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484 orders · Page 9 of 10
The Tribunal found that the AO had conducted extensive inquiries and gathered sufficient evidence to doubt the genuineness of the web advertisement expenses and software purchases. The AO's findings indicated that the service providers were shell companies and the software purchase lacked proper documentation and justification.
The Tribunal held that the assessee's dominant purpose was charitable and it was not guided by profit motive. Following the jurisdictional High Court's decision in its own case and the Supreme Court's ruling in Rajasthan & Gujarati Charitable Foundation, depreciation on assets was allowable.
The Tribunal held that the AO did not provide any material to suggest the assessees paid more than the surrendered amount for the shares. The CIT(A) correctly deleted the additions as there was no incriminating material to support the AO's assumptions.
The Tribunal held that the AO failed to record proper satisfaction and did not specify the limb of Section 271(1)(c) under which penalty proceedings were initiated. This violated the principles of natural justice.
The Tribunal noted that the TPO's revised order resulted in no transfer pricing adjustment. Therefore, the assessee had no further grievance, and the appeals were rendered infructuous.
The Tribunal held that the assessees were not given an opportunity to cross-examine the vendors whose statements were relied upon. The Assessing Officer also failed to conduct proper verification and valuation. Therefore, the matters were remanded back to the Assessing Officer for fresh verification and to allow cross-examination.
The Tribunal held that the assessees were not given an opportunity to cross-examine the vendors whose statements were relied upon. The Assessing Officer also failed to conduct proper verification and valuation. Therefore, the matters were remanded back to the Assessing Officer for fresh verification and to allow cross-examination.
The Tribunal held that since the assessee-society already had registration under section 12AA, its objects were considered charitable. The CIT(E)'s reasons for rejection, particularly the lack of donations before 80G approval, were not considered valid.
The Tribunal held that MAT credit should be reduced from the tax liability before applying surcharge and education cess, following the Allahabad High Court's decision. It also dismissed the assessee's claim for interest on interest.
The tribunal held that no adjustment can be made on account of interest on receivables for credit granted to an AE, as it is subsumed in the overall transfer pricing analysis. It also directed the deletion of the disallowance under Section 10B, finding that the approval for the EOU status was subsequently ratified.
The Tribunal found that the matter required reconsideration by the CIT(E) as the assessee claimed to have filed a proper reply with books of account, which were allegedly not placed on record. The assessee undertook to produce all documents for fresh examination.
The Tribunal held that the penalty notice was invalid as it did not specify the exact charge against the assessee, leading to a non-application of mind by the Assessing Officer. This was based on precedents from the Karnataka High Court and the Supreme Court.
The Tribunal found that the CIT(A) did not adjudicate the issue on merits despite admitting additional evidence for two creditors. The Tribunal set aside the orders and restored the matter to the Assessing Officer for fresh adjudication.
The Tribunal found that the CIT(A)'s orders lacked reasoning and were passed without considering the merits of the case. Therefore, the impugned orders were set aside.
The Tribunal held that assured returns paid before the commencement of construction should be capitalized as part of the capital project and not treated as selling costs. The Tribunal also upheld the disallowance of other expenses and preliminary expenses due to lack of details and evidence.
The Tribunal recalled its earlier order dismissing the appeal. Subsequently, it held that the appeal was not maintainable due to a low tax effect, as per the latest CBDT circular raising the monetary limit to Rs. 20 lacs for departmental appeals to the ITAT.
The Tribunal found that the CIT(A)'s orders lacked reasoning and were passed without considering the merits of the case. Therefore, the impugned orders were set aside.
The Tribunal held that the assessee had subsequently been granted registration under Section 12AA of the Act, and its appeals on this matter had been allowed by the ITAT and confirmed by the Allahabad High Court. Therefore, the denial of exemption under Section 11 was incorrect.
The Tribunal held that the assessee had subsequently been granted registration under Section 12AA of the Act, and its appeals on this matter had been allowed by the ITAT and confirmed by the Allahabad High Court. Therefore, the denial of exemption under Section 11 was incorrect.
The Tribunal held that the penalty notice was invalid because it did not clearly specify the charge against the assessee, leading to an inference of non-application of mind by the AO. Following established High Court and Supreme Court precedents, the penalty was cancelled.
The Tribunal found that the CIT(A)'s orders lacked reasoning and were passed without considering the merits of the case. Therefore, the impugned orders were set aside.
The Tribunal found that the CIT(A)'s orders lacked reasoning and were passed without considering the merits of the case. Therefore, the impugned orders were set aside.
The Tribunal noted that the issues were covered by its previous orders in the assessee's own case for earlier assessment years. Following those precedents, the Tribunal decided the grounds of appeal.
The Tribunal noted that the issues were covered by its previous orders in the assessee's own case for earlier assessment years. Following those precedents, the Tribunal decided the grounds of appeal.
The Tribunal held that Rule 8D is not applicable for the assessment year under consideration. It found the assessee's suo moto disallowance of administrative expenses to be reasonable and upheld the CIT(A)'s deletion of interest disallowance, following the rule of consistency.
The Tribunal held that the assessee had subsequently been granted registration under Section 12AA of the Act, and its appeals on this matter had been allowed by the ITAT and confirmed by the Allahabad High Court. Therefore, the denial of exemption under Section 11 was incorrect.
The Tribunal found that the CIT(A) passed a non-speaking order without properly dealing with the merits of the case, violating principles of natural justice. Therefore, the issues were remitted back to the CIT(A) for a fresh decision.
The Tribunal held that the CIT(A) passed a non-speaking order, failing to decide the appeal on merits and violating principles of natural justice. The assessee was directed to rectify the defects, and the case was remitted back for fresh adjudication.
The Tribunal held that the electrical equipment listed were part and parcel of the plant and machinery and thus eligible for depreciation at 15%. The Assessing Officer was directed to allow depreciation at 15% on the electrical equipment.
The Tribunal held that foreign exchange fluctuation loss on loans given in the ordinary course of business is allowable as revenue expenditure. It also ruled that depreciation at a higher rate is allowable for assets used in drilling operations for mineral oil concerns, even if the assessee is not a mineral oil concern itself.
The Tribunal held that foreign exchange fluctuation loss on loans given in the ordinary course of business is allowable as revenue expenditure. It also ruled that depreciation at a higher rate is allowable for assets used in drilling operations for mineral oil concerns, even if the assessee is not a mineral oil concern itself.
The Tribunal found merit in the assessee's submission that the CIT(A) had not considered relevant case laws. Therefore, the issues were set aside to the CIT(A) for fresh adjudication.
The Tribunal held that Rule 8D is not applicable for the assessment year under consideration. It found the assessee's suo moto disallowance of administrative expenses to be reasonable and upheld the CIT(A)'s deletion of interest disallowance, following the rule of consistency.
The ITAT found that the CIT(A) did not provide specific dates of notices issued and served, despite mentioning multiple opportunities. The Tribunal restored the matter to the CIT(A) for a fresh decision on merits after affording a reasonable opportunity of hearing.
The ITAT set aside the order of the CIT(Appeals) and restored the matter back to the CIT(A)'s file. The CIT(A) was directed to adjudicate the appeal afresh after providing a proper opportunity of hearing to the assessee.
The Tribunal held that the transactions were supported by documentary evidence and could not be brushed aside on suspicion. The statements from other brokers were not relevant to the assessee's specific transactions and were used without providing an opportunity for cross-examination.
The Tribunal, citing Rule 19(2) of the ITAT Rules and relevant case law, inferred that the assessee was not interested in pursuing the appeal. Consequently, the appeal was treated as un-admitted and dismissed.
The Tribunal held that the notice under Section 143(2) was issued beyond the statutory time limit for AY 2005-06 and 2007-08, rendering the assessments invalid. For AY 2010-11, it was held that the repair and overhauling receipts were not taxable as FTS in India, as the 'make available' clause of the India-USA DTAA was not satisfied and the assessee had no permanent establishment in India.
The ITAT found the dismissal of the appeal by the CIT(Appeals) to be unjustified due to the lack of confirmation of service of notices. The matter was restored to the CIT(Appeals) for a fresh adjudication.
The Tribunal found that the issue of depreciation on exclusive business rights was decided in favour of the assessee by a coordinate bench in a preceding year. The Tribunal restored the issue to the AO/TPO for re-examination, directing that manufacturing activity should not be considered part of the international transaction.
The Tribunal held that the subsidy received was directly linked to services provided to AEs and agreed with the AO's re-characterization. However, it allowed the assessee's appeal regarding the benchmarking method, finding CUP to be the Most Appropriate Method (MAM) for consulting services, and directed the AO to re-examine corporate tax issues.
The Tribunal directed the exclusion of certain comparable companies from the TPO's set and allowed the grant of working capital adjustment. The issue of risk adjustment was rendered academic due to the other directions.
The Tribunal admitted an additional legal ground raised by the assessee concerning the validity of additions made under Section 153A without incriminating material. The Tribunal set aside the orders and restored the appeals to the CIT(A) for fresh adjudication.
The Tribunal found that the issue of depreciation on exclusive business rights was decided in favour of the assessee by a coordinate bench in a preceding year. The Tribunal restored the issue to the AO/TPO for re-examination, directing that manufacturing activity should not be considered part of the international transaction.
The ITAT set aside the CIT(A)'s order and remanded the matter back for fresh adjudication. This was done to provide the assessee with a reasonable opportunity of being heard.
The Tribunal found the CIT(A)'s order to be ex-parte, non-speaking, and lacking consideration of relevant evidence. Therefore, the order was set aside and the issues were remanded back to the CIT(A) for a decision on merits.
The Tribunal held that the revenue authorities did not follow the principles of natural justice by not granting sufficient opportunity to the assessee and by deciding the appeal without waiting for a remand report. Therefore, the Tribunal decided to admit the additional evidence and remanded the issue back to the AO for verification.
The Tribunal found that the evidence submitted by the assessee required thorough investigation by the AO. Therefore, the case was sent back to the AO to re-examine the evidence, provide a proper opportunity of hearing, and pass a speaking order.