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470 orders · Page 4 of 10
The Tribunal dismissed the appeals as not maintainable. This was due to the inability to serve notices on the assessee and the fact that the appeals were filed by an individual whose authority to represent the company was suspended due to insolvency proceedings.
The tribunal held that Education Cess is deductible as a business expenditure under Section 37 of the Income Tax Act. The appeal regarding transfer pricing adjustments and circuit accruals was allowed.
The Tribunal held that Section 40(a)(ia) is applicable only to expenditure claimed under 'profits and gains of business or profession', which was not the case here as the payment was for acquisition of a capital asset. The Tribunal also found that Section 56(2)(viib) was not attracted.
The Tribunal held that the addition made by the AO, solely on the basis of retracted statements without rejecting the books of accounts, was not justified. The assessee had provided sufficient evidence to establish the genuineness of the transactions.
The Tribunal held that the addition made by the AO, solely on the basis of retracted statements without rejecting the books of accounts, was not justified. The assessee had provided sufficient evidence to establish the genuineness of the transactions.
The Tribunal held that the addition made by the AO, solely on the basis of retracted statements without rejecting the books of accounts, was not justified. The assessee had provided sufficient evidence to establish the genuineness of the transactions.
The Tribunal remanded the matter back to the AO to complete the assessment de novo, correlating additions with the seized material. The AO was directed to ensure assessee compliance with notices.
The Tribunal remanded the matter back to the AO to complete the assessment de novo, correlating additions with the seized material. The AO was empowered to invoke relevant provisions to ensure assessee compliance.
The Tribunal found that due to the assessee's non-compliance, complete records were not brought on record. Therefore, the matter was remanded back to the AO to complete the assessment de novo, correlating additions with the seized material.
The assessee requested to withdraw the appeal due to opting for the Vivad Se Vishwas Scheme. The tribunal granted permission for withdrawal.
The Tribunal found that due to the assessee's non-compliance, complete records were not brought on record. Therefore, the matter was remanded back to the AO to complete the assessment de novo, correlating additions with the seized material.
The Tribunal found that due to the assessee's non-compliance, complete records were not brought on record. Therefore, the matter was remanded back to the AO to complete the assessment de novo, correlating additions with the seized material.
The Tribunal held that interest accrued but not due is an allowable deduction as it represents an accrued liability. The CIT(A) was justified in deleting the disallowance.
The Tribunal found that due to the assessee's non-compliance, complete records were not brought on record. Therefore, the matter was remanded back to the AO to complete the assessment de novo, correlating additions with the seized material.
The Tribunal held that the penalty proceedings were not sustainable because the notice issued by the Assessing Officer was vague and ambiguous, failing to specify whether the penalty was for concealment of income or furnishing inaccurate particulars. The penalty was directed to be deleted.
The Tribunal remanded the matter back to the AO to complete the assessment de novo, correlating additions with the seized material. The AO was directed to ensure assessee compliance with notices.
The Tribunal held that in the interest of justice, the assessee should be given an opportunity of being heard before the TPO. The TPO was also directed to make the assessee aware of the material relied upon for determining the Arm's Length Price (ALP).
The Tribunal held that since the quantum appeals were restored to the Assessing Officer for fresh adjudication, the penalty proceedings did not survive. The Assessing Officer was permitted to initiate fresh penalty proceedings after completing the assessment.
The Tribunal found merit in the assessee's submission that notices were sent to an old address and that the AO had not granted sufficient opportunity. The Tribunal decided to give the assessee a final opportunity to contest the matter on merits.
The Tribunal upheld the CIT(A)'s deletion of additions related to sundry creditors, finding that the assessee had provided sufficient evidence. The Tribunal also affirmed the CIT(A)'s deletion of a portion of the interest disallowance, agreeing with the revised computation.
The Tribunal dismissed the Revenue's appeal. This was primarily because the tax effect of the appeal was below the monetary limit prescribed by CBDT circulars for filing appeals before the ITAT.
The Tribunal restored the issue to the CIT(A) with a direction to grant one last opportunity to the assessee. The assessee is directed to appear without adjournment, failing which the CIT(A) can pass an order as per law.
The Tribunal held that the CIT(A) erred by dismissing the appeal ex-parte without deciding on merits. The Tribunal restored the issue to the CIT(A) to grant one last opportunity to the assessee to present its case and pass a speaking order.
The Tribunal accepted the assessee's request for withdrawal of the appeal. The appeal was dismissed as withdrawn.
The Tribunal held that the approval granted under Section 153D of the Income Tax Act suffered from infirmities and was not in accordance with the law. Consequently, the assessment order passed under Section 153A read with Section 143(3) was quashed.
The Tribunal held that the CIT(A) erred in rejecting the additional evidence on technical grounds without deciding the issue on merits. The matter was remitted to the Assessing Officer for fresh adjudication after examining the additional evidence.
The Tribunal held that the CIT(A) erred in rejecting the additional evidence on technical grounds without deciding the issue on merits. The matter was remitted to the Assessing Officer for readjudication after examining the additional evidence.
The Tribunal held that in the interest of justice, the assessee should be given an opportunity of being heard before the TPO. The TPO was also directed to make the assessee aware of the material relied upon for determining the Arm's Length Price (ALP).
The Tribunal accepted the assessee's request for withdrawal of the appeal. The appeal was dismissed as withdrawn.
The Tribunal accepted the assessee's request for withdrawal of the appeal. The appeal was dismissed as withdrawn in view of the settlement under the Vivad Se Vishwas Scheme.
The Tribunal held that the excess fees were applied for charitable objects, depreciation is allowable as a deduction for charitable trusts, and cash credits were explained. Therefore, the additions made by the AO were not justified.
The Tribunal held that the principle of consistency applied to the Supervisory and Risk Management expenses, as they were allowed in preceding and succeeding years. Regarding the lease termination compensation, the Tribunal upheld the lower authorities' decision to treat it as income from other sources and disallowed the standard deduction claimed.
The Tribunal held that the principle of consistency applied to the Supervisory and Risk Management expenses, as they were allowed in preceding and succeeding years. Regarding the lease termination compensation, the Tribunal upheld the lower authorities' decision to treat it as income from other sources and disallowed the standard deduction claimed.
The Tribunal upheld the CIT(A)'s deletion of additions, finding that the AO's comparison of different products and lots was erroneous. The Tribunal also noted that the AO accepted the assessee's gross profit ratios in subsequent years, indicating the acceptability of the books of accounts.
The Tribunal upheld the CIT(A)'s deletion of additions, finding that the AO's comparison of different products and lots was erroneous. The Tribunal also noted that the AO accepted the assessee's gross profit ratios in subsequent years, indicating the acceptability of the books of accounts.
The Tribunal upheld the CIT(A)'s deletion of additions, finding that the AO's comparison of different products and lots was erroneous. The Tribunal also noted that the AO accepted the assessee's gross profit ratios in subsequent years, indicating the acceptability of the books of accounts.
The Tribunal upheld the CIT(A)'s deletion of additions, finding that the AO's comparison of different products and lots was erroneous. The Tribunal also noted that the AO accepted the assessee's gross profit ratios in subsequent years, indicating the acceptability of the books of accounts.
The Tribunal upheld the CIT(A)'s deletion of additions, finding that the AO's comparison of different products and lots was erroneous. The Tribunal also noted that the AO accepted the assessee's gross profit ratios in subsequent years, indicating the acceptability of the books of accounts.
The Tribunal allowed the appeal concerning TDS payable, holding that it was paid before the due date of filing the return, thus Section 40(a)(ia) was not applicable. The Tribunal also allowed the appeal regarding the 1/10th disallowance of expenses, finding no proper basis for the Assessing Officer's assumption.
The Tribunal held that the source of cash deposits was not in doubt, considering the assessee's salary and explanations regarding his expenses. The addition of Rs. 11,47,000/- was deemed uncalled for.
The Tribunal held that the CIT(A) failed to follow the mandate of Section 250(6) by not passing a speaking order and not deciding the issues on merits. Principles of natural justice were also violated by not providing adequate opportunity of hearing.
The Tribunal directed the Assessing Officer to restrict the disallowance under Section 14A to the extent of exempt income earned. It also held that interest income earned on bank FDRs should be netted off against interest expenditure.
The ITAT held that no proceedings could continue against the company under the Insolvency & Bankruptcy Code, 2016. Consequently, the appeals filed by the assessee, being filed by directors without locus standi after the IRP appointment, could not survive.
The Tribunal held that the disallowance of markups on services was not justified, especially when similar services rendered by the assessee were accepted. The provision for warranty was allowed based on past experience and regular practice. However, the provision for anticipated losses was not allowed due to lack of cogent evidence.
The Tribunal held that no proceedings could continue against the company under the Insolvency & Bankruptcy Code, 2016. Consequently, the appeals filed by the assessee, being filed by directors without locus standi after IRP appointment, could not survive.
The Tribunal held that no proceedings could continue against the company under the Insolvency & Bankruptcy Code, 2016. Consequently, the appeals filed by the assessee, being filed by directors without locus standi after IRP appointment, could not survive.
The Tribunal held that the disallowance of ESOP expenses was incorrect, as the expenditure was ascertained and incurred in line with SEBI guidelines. The Delhi High Court's decision in Lemon Tree Hotels Ltd. was also cited as precedent.
The Tribunal held that no separate adjustment for outstanding receivables was required as it was already factored into working capital adjustments. It also ruled that 'Zylog Systems Ltd.' and 'Acropetal Technologies Ltd.' were not valid comparables.
The CIT(A) correctly allowed the transfer of shares to be treated as long-term capital gain. The tribunal found no illegality in the CIT(A)'s order, as the assets of the company were not affected by the change in individual shareholdings.
The Tribunal held that the assessee is entitled to depreciation on the exchange rate fluctuation loss capitalized to the fixed assets. This decision was based on a previous ruling in the assessee's own case for earlier assessment years.