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484 orders · Page 3 of 10
The Tribunal upheld the deletion of the disallowance by the CIT(A). It followed the precedent set by the Delhi High Court in Cheminvest Ltd., stating that Section 14A applies only when there is actual receipt of income not includable in total income.
The Tribunal observed that the assessee was not interested in pursuing the appeal due to the delay and non-compliance. Citing the principle that law assists the vigilant, the Tribunal dismissed the appeals as time-barred.
The Tribunal restored the issue to the Assessing Officer, directing him to grant the assessee one more opportunity to substantiate their case and decide afresh, considering relevant case law.
The Tribunal upheld the addition of Rs. 30,00,000/- received from M/s. C.J. Exim Pvt. Ltd. as share application/premium, finding the transaction to be bogus. However, the addition of Rs. 15,00,000/- from Mass Securities Pvt. Ltd. was set aside to the CIT(A) for fresh adjudication.
The Tribunal found that the CIT(A) erred in deleting the addition related to unutilized closing stock. However, the Tribunal upheld the CIT(A)'s decision to delete the addition for interest not charged on advances. The Tribunal also dismissed the assessee's appeal regarding the disallowance of cash payments to labourers.
The Tribunal held that the assessee consistently followed the mercantile system of accounting and had offered the income to tax in the subsequent assessment year (AY 2007-08) when it was actually received and accrued. The Tribunal also noted that the service tax component was wrongly added back.
The Tribunal noted that as per CBDT Circular No. 3 of 2018, appeals with a tax effect below Rs. 20 lakhs should not be filed or pressed. The CIT(DR) did not press the appeal.
The Tribunal upheld the CIT(A)'s decision to restrict the disallowance. It found no illegality or perversity in the order, especially since no fresh investments were made and the CIT(A) followed a previously upheld formula.
The Tribunal upheld the CIT(A)'s order deleting the penalty. It reasoned that since the original addition was deleted, the penalty levied on that addition could not survive.
The Tribunal allowed the assessee's claim for 100% deduction under Section 80IC, following the Supreme Court's decision in Pr. CIT vs. M/s. Aarham Softronics. Consequently, the penalty levied under Section 271(1)(c) was also deleted.
The Tribunal held that Section 200A, prior to its amendment effective from June 1, 2015, did not have the enabling provision to levy fees under Section 234E. Therefore, the demand for fees levied for periods prior to June 1, 2015, was without authority of law.
The Tribunal held that rejecting audited books of account without justification was incorrect. It also found no basis for the AO's arbitrary estimation of net profit at 20% and directed estimation at 9.50% based on past history. The addition of sundry creditors was remanded for fresh adjudication after admitting additional evidence.
The Tribunal held that Section 200A, prior to its amendment effective June 1, 2015, did not have the enabling provision to levy fees under Section 234E. Therefore, the levy of fees for periods prior to this amendment was without authority of law.
The Tribunal held that no disallowance under Section 14A can be made when the assessee has not earned any dividend or exempt income. The AO's disallowance was made mechanically and without basis.
The Tribunal held that the facts and circumstances of the current assessment year were similar to earlier years where identical issues were decided in favour of the assessee. Following the precedents of the Co-ordinate Benches of ITAT and the Hon'ble Delhi High Court, the Tribunal upheld the deletion of the additions.
The Tribunal held that since the CIT(A) passed an ex parte order without deciding the matter on merits, it was appropriate to remand the case back. The CIT(A) is directed to decide the issues afresh after giving the assessee a proper opportunity to present her case.
The Tribunal held that since the assessment for the year was not pending at the time of search and no incriminating material was found, no addition could be made under Section 153A. The CIT(A)'s deletion of the addition was affirmed.
The Tribunal held that the license fee paid for the use of the brand and goodwill is allowable as revenue expenditure, following its own previous decisions. The disallowance of TDS was also decided in favor of the assessee.
The Tribunal noted that the CIT(A) had allowed the assessee's appeal on both legal and merit grounds. The Tribunal considered the arguments from both parties, including the reliance on various case laws by the Revenue and the Assessee. The Tribunal's final decision is not explicitly stated in the provided text, but the context suggests it will review the CIT(A)'s order.
The Tribunal held that the CIT(A) restricted the addition based on an order from the Commissioner of Central Excise without ascertaining if that order had attained finality. Therefore, the matter was remanded to the AO to decide afresh after verifying the status before CESTAT.
The Tribunal held that provisions for gratuity, leave encashment, and post-retirement medical benefits, estimated on an actuarial basis, are ascertained liabilities and not unascertained provisions for the purpose of Section 115JB. It also held that depreciation on land, amortized over the project's useful life, was allowable based on previous consistent rulings.
The Tribunal held that the license fee paid for the use of the brand and goodwill is allowable as revenue expenditure, following its own previous decisions. The disallowance of TDS was also decided in favor of the assessee.
The Tribunal held that export incentives like duty drawback should be considered for Section 10B deduction, following Delhi High Court rulings. It also upheld the deletion of interest disallowances, finding that investments were made from surplus funds and interest on capital work-in-progress was correctly handled. The disallowance under Section 14A was deleted due to the Assessing Officer's failure to record satisfaction.
The Tribunal found that the CIT(A) confirmed the assessment order without deciding the issues on merits due to the assessee's non-response. In the interest of justice, the matter was restored to the CIT(A) for a fresh decision on merits after providing a reasonable opportunity of hearing.
The Tribunal held that provisions for gratuity, leave encashment, and post-retirement medical benefits, estimated on an actuarial basis, are ascertained liabilities and not unascertained provisions for the purpose of Section 115JB. It also held that depreciation on land, amortized over the project's useful life, was allowable based on previous consistent rulings.
The Tribunal held that the distinction between operating lease and finance lease under accounting principles has no implication under the Income Tax Act. The assessee's contention that lease payments are revenue in nature and eligible for deduction under Section 37(1) was considered.
The Tribunal directed the TPO/AO to follow the DRP's directions, allowing 1% of total costs as against the corporate charges paid. If this calculation resulted in a value higher than the amount paid, no adjustment would be made. The Tribunal also held that delay in receiving remittances from AEs should not be re-characterized as unsecured loans if similar delays occur with unrelated parties and no interest is charged.
The Tribunal held that the distinction between operating lease and finance lease under accounting principles has no implication under the Income Tax Act. The assessee's contention that lease payments are revenue in nature and eligible for deduction under Section 37(1) was considered.
The Tribunal, following its own previous orders in the assessee's own case for earlier assessment years, set aside the disputed issue to the file of the AO for fresh adjudication. This was done because the facts and circumstances were found to be identical.
The Tribunal held that the CIT(A) erred in deleting the addition without proper inquiry, as the transactions appeared suspicious and potentially involved round-tripping. The case requires a detailed inquiry to ascertain the truth.
The Tribunal held that the interest earned on funds raised for setting up the project, even if temporarily parked, is inextricably linked to the project and should be treated as a capital receipt, reducing the capital work-in-progress. Expenses related to the project should also be capitalized.
The Tribunal directed the TPO/AO to follow the DRP's directions, allowing 1% of total costs as against the corporate charges paid. If this calculation resulted in a value higher than the amount paid, no adjustment would be made. The Tribunal also held that delay in receiving remittances from AEs should not be re-characterized as unsecured loans if similar delays occur with unrelated parties and no interest is charged.
The Tribunal held that the reasons for reopening were devoid of application of mind, especially since the original assessment was processed under Section 143(1). Furthermore, the basis for reopening, a disallowance under Section 40A(2)(b) in subsequent years, had already been deleted by the Tribunal and attained finality.
The Tribunal found that the CIT(A) decided the appeal ex-parte in haste without proper service of notice on the assessee. Therefore, the appeal was set aside to the CIT(A) for a fresh decision after providing an adequate opportunity of being heard.
The Tribunal found that the delay in disposing of the appeals was not the fault of the assessee. Therefore, the stay was extended for a further period of six months, with a condition that the assessee cannot seek adjournments.
The Tribunal upheld the lower authorities' decision, stating that the LED walls, projectors, and accessories do not qualify for the higher depreciation rate applicable to computers. The Tribunal reasoned that even if operated by computers, these items are independent machinery and fall under 'other plant and machinery' for depreciation purposes.
The Tribunal held that export incentives like duty drawback should be considered for Section 10B deduction, following Delhi High Court rulings. It also upheld the deletion of interest disallowances, finding that investments were made from surplus funds and interest on capital work-in-progress was correctly handled. The disallowance under Section 14A was deleted due to the Assessing Officer's failure to record satisfaction.
The Tribunal held that the disallowance of interest under Section 36(1)(iii) was not justified based on the principle of consistency and the fact that the assessee had sufficient own funds. Regarding the advances, the Tribunal found that the assessee had discharged its onus under Section 68 by providing sufficient documentation and evidence of repayment, and thus deleted the additions.
The Tribunal held that RPM is the most appropriate method for benchmarking the import of crystal goods and components, following a consistent view from earlier years. It also ruled that software and EDP charges are revenue in nature and allowable, and advertisement and publicity expenses are also revenue expenditure.
The Tribunal held that RPM is the most appropriate method for benchmarking the import of crystal goods and components, following a consistent view from earlier years. It also ruled that software and EDP charges are revenue in nature and allowable, and advertisement and publicity expenses are also revenue expenditure.
The Tribunal held that the CIT(A) restricted the addition based on an order from the Commissioner of Central Excise without ascertaining if that order had attained finality. Therefore, the matter was remanded to the AO to decide afresh after verifying the status before CESTAT.
The Tribunal noted that the tax effect of the disputed addition was below the prescribed monetary limit of Rs. 20 lac for filing appeals by the Department. Therefore, the appeal was dismissed.
The Tribunal held that RPM is the most appropriate method for benchmarking the import of crystal goods and components, following a consistent view from earlier years. It also ruled that software and EDP charges are revenue in nature and allowable, and advertisement and publicity expenses are also revenue expenditure.
The Tribunal held that RPM is the most appropriate method for benchmarking the import of crystal goods and components, following a consistent view from earlier years. It also ruled that software and EDP charges are revenue in nature and allowable, and advertisement and publicity expenses are also revenue expenditure.
The Tribunal held that Section 50 of the Income Tax Act is not applicable because the asset was treated as an investment, never formed part of a block of assets, and no depreciation was claimed. Therefore, the addition made by the Assessing Officer based on Section 50 is not legally sustainable.
The Tribunal held that the advances from customers were substantiated with evidence and that Section 14A was not attracted as the assessee made investments from interest-free funds and earned no exempt income. Therefore, the deletion of additions by the CIT(A) was upheld.
The Tribunal held that the DVO's valuation report was erroneous due to incorrect comparable sales, property type mismatch, and lack of proper procedure. Considering the specific drawbacks of the property, the Tribunal directed the Assessing Officer to accept the sale consideration declared by the assessee.
The Tribunal upheld the CIT(A)'s decision, stating that royalty payments cannot be determined solely on the assessee's profitability, especially when know-how and technical information were provided. The TPO's use of a 'benefit test' for benchmarking was deemed incorrect.
The Tribunal held that as per CBDT Circular No. 3 of 2018, appeals with a tax effect below Rs. 20 lakhs should not be filed or pressed. The Revenue's appeal was therefore not maintainable.