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662 orders · Page 9 of 14
The Tribunal accepted the assessee's request for dismissal of the appeals. The appeals were dismissed as they had become infructuous due to the settlement under the Vivad Se Vishwas Scheme.
The Tribunal accepted the assessee's request for dismissal of the appeals. The appeals were dismissed as they had become infructuous due to the settlement under the Vivad Se Vishwas Scheme.
The Tribunal held that additions made under Section 153A/153C can only be sustained if they are based on incriminating material found during the search. Since no such material was found pertaining to the assessee for the assessment year in question, the additions were unjustified.
The Tribunal held that additions made under Section 153A/153C must be based on incriminating material found during the search. Relying on Supreme Court and High Court judgments, it was established that seized material must have a direct co-relation with the assessment year in question.
The Tribunal held that Section 24 is not applicable as the property was rented out, and the assessee is eligible for the full interest deduction on the housing loan. The deduction under Section 80C for the principal amount was also allowed.
The Tribunal upheld the penalty of Rs. 10,000/- levied under Section 271(1)(b) of the Act. The assessee failed to provide any valid reason or evidence for non-compliance with the notices during assessment and penalty proceedings.
For AY 2013-14, the Tribunal held that since the assessment was concluded and no incriminating material was found, the addition under section 153A was invalid. For AY 2015-16, the Tribunal held that the net profit determined by the lower authorities already accounted for all expenses.
The Tribunal found that the cash deposit was explained by a loan from the director (Rs. 3 lakhs) and advances from customers (Rs. 4 lakhs), both reflected in the balance sheet. Since the withdrawn cash was redeposited and not utilized for other purposes, the source was considered explained.
The Tribunal noted that the assessee had opted for the Vivad Se Vishwas Scheme (VSVS), and the Revenue had accepted Form-1 and Form-2. Consequently, the appeal was treated as withdrawn.
The Tribunal noted that both the assessee and the revenue agreed that the appeal should be treated as withdrawn and dismissed due to the assessee opting for the Vivad Se Vishwas scheme. The dismissal is subject to the disputes being fully settled under the scheme.
The Tribunal dismissed the appeal as not maintainable and not pressed, citing CBDT circulars that enhanced the monetary threshold for appeals. The Revenue was granted liberty to seek recall if the appeal was not covered by the circulars.
The Tribunal noted that the assessee's own appeal on this issue for the same assessment years had already been decided by the Tribunal, deleting the addition sustained by the CIT(A). Therefore, the Revenue's appeals were dismissed or partly allowed for statistical purposes based on the prior decision.
The Tribunal held that the appeals filed by the Revenue were not maintainable. This was because a coordinate bench of the ITAT had previously quashed the assessment orders as being barred by limitation and set aside the CIT(A)'s order.
The Tribunal accepted the assessee's request for withdrawal of the appeal. The appeal was dismissed as withdrawn based on the assessee's settlement under the Vivad Se Vishwas Scheme.
The Tribunal held that the CIT(A) should have provided an opportunity to file the appeal electronically or considered the appeal on its merits. The CIT(A)'s order lacked both.
The Tribunal held that the issue was identical to previous assessment years where the Tribunal had ruled in favor of the assessee. Following its own precedent, the Tribunal allowed the business loss, including the director's remuneration, as a valid business expense.
The Tribunal held that maintaining accounts on an ERP system is sufficient compliance and that the expense allocation by the assessee was based on scientific principles. The Tribunal also found that the deletion of the license fee addition by the Assessing Officer, following a High Court decision, was correct.
The Tribunal held that the principles of natural justice were violated as the assessee was not given a fair and effective opportunity to be heard after their written submissions were found insufficient. The CIT(A) did not confront the assessee with the deficiency or provide an opportunity to supplement their evidence.
The Tribunal restored the appeal to the CIT(A) for fresh adjudication. The assessee was directed to submit all relevant documents, and the CIT(A) was instructed to provide a sufficient opportunity for a hearing.
The Tribunal held that the addition under Section 68 was not sustainable as the assessee provided sufficient documentary evidence and the amounts were later written back and offered to tax. The exchange rate fluctuation loss was also held to be an allowable revenue expenditure under Section 37(1).
The tribunal noted the assessee's application to withdraw the appeal. Consequently, the appeal was dismissed as withdrawn.
The Tribunal held that since the addition made by the AO was deleted by a coordinate bench of the ITAT by quashing the proceedings under Section 153C, the penalty levied under Section 271(1)(c) is not sustainable as it is consequential in nature.
The Tribunal found that the CIT(A) had merely reproduced the remand report of the AO without properly considering the assessee's submissions. Therefore, the case was restored to the CIT(A) for a fresh, speaking order after considering all details and providing an opportunity of hearing.
The Tribunal held that the AO could not have proceeded to frame assessment under Section 153A as no incriminating documents or assets were found during the search operation pertaining to the year under consideration. Therefore, the initiation of assessment proceedings under Section 153A was not sustainable.
The Tribunal restored the appeal to the files of the CIT(A) with a direction to decide the case on merits after providing a reasonable opportunity of hearing to the assessee.
The Tribunal held that maintaining accounts on an ERP system is sufficient compliance and that the assessee's allocation of expenses was based on scientific principles. It also found that the other income was not claimed as eligible for deduction. The addition on account of licence fee was deleted by the AO following a High Court decision.
The Tribunal held that the CBDT Circular No. 17/2019, which enhanced the monetary limit for filing appeals, is applicable to pending appeals. Therefore, the appeal filed by the Revenue was not maintainable as the tax effect was below Rs. 50 lakhs.
The Tribunal held that since the CIT(A) had decided the appeals in favor of the assessee, the appeals filed before the Tribunal had become infructuous. Therefore, there was no further cause for the assessee to pursue these appeals.
The Tribunal held that computer software, when integral to computer operations and classified under 'Computers including computer software' in Appendix I of the Income Tax Rules, is eligible for 60% depreciation. The Assessing Officer's classification as an intangible asset was deemed incorrect.
The Tribunal restored the issue to the file of the AO with a direction to verify the rent declared by other co-owners of the property. The AO was instructed to decide the issue after considering the Tribunal's decision and providing the assessee with an opportunity to be heard.
The Tribunal held that maintaining accounts on an ERP system is sufficient and that the assessee's expense allocation was based on scientific principles. It also found that other income was not claimed as eligible for deduction. The addition on account of licence fee was deleted by the Assessing Officer following a High Court decision.
The Tribunal noted that the assessee had opted to settle the dispute under the Vivaad se Vishwas Act. Consequently, the appeal was treated as withdrawn.
The Tribunal found that the assessee was not given a fair opportunity to defend their case. Therefore, both appeals were restored to the CIT(A) for a decision on merits after a proper hearing.
The Tribunal held that maintaining accounts on an ERP system is sufficient and that the assessee's expense allocation was based on scientific principles. It also found that other income was not claimed as eligible for deduction. The addition on account of licence fee was deleted by the Assessing Officer following a High Court decision.
The Tribunal held that while Section 14A and Rule 8D are applicable, the disallowance needs to be restricted. The disallowance for interest expenditure should only consider interest-bearing funds, and the average investment value should only include investments yielding exempt income.
The Tribunal held that the appeal was filed for the wrong assessment year and that there was no attempt to rectify this mistake. Therefore, the appeal was not maintainable.
The Tribunal noted that the assessee's own appeal on this issue for the same assessment years had already been decided by the Tribunal, deleting the addition sustained by the CIT(A). Therefore, the Revenue's appeals were dismissed or partly allowed for statistical purposes based on the prior decision.
The Tribunal held that the appeals filed by the Revenue were not maintainable. This was because a coordinate bench of the ITAT had previously quashed the assessment orders as being barred by limitation and set aside the CIT(A)'s order.
The Tribunal held that the appeals filed by the Revenue were not maintainable. This was because a coordinate bench of the ITAT had previously quashed the assessment orders as being barred by limitation and set aside the CIT(A)'s order.
The Tribunal noted that the assessee's Section 12AA registration had been restored by a co-ordinate bench, which also held its objects to be charitable. Consequently, the denial of exemption under Section 11 was set aside. The issue of the Infrastructure Development Fund was remanded to the Assessing Officer for fresh adjudication.
The Tribunal dismissed the Department's appeal regarding Section 14A disallowance, agreeing that only investments yielding tax-free income should be considered. The Tribunal allowed the assessee's grounds regarding the interest component in Section 14A disallowance and the lease amortization issue for statistical purposes, remanding them for fresh examination.
The Tribunal held that the appeal was not maintainable due to the company undergoing insolvency resolution proceedings. The appeal was dismissed with liberty to the Revenue to refile it after bringing the official liquidator on record or if the company successfully exited the process.
The Tribunal restored the appeal to the Assessing Officer for fresh adjudication. The assessee was directed to furnish explanations and evidence for bank deposits, and the Assessing Officer was to decide afresh after providing a hearing opportunity.
The Tribunal held that additions made under section 153A/153C require incriminating material found during search. Relying on a Delhi High Court decision, the Tribunal found that a statement from a third party alone, without corroborating incriminating material, cannot form the basis for such additions, especially when the assessment years were concluded.
The Tribunal held that additions made under section 153A/153C require incriminating material found during search. Relying on a Delhi High Court decision, the Tribunal found that a statement from a third party alone, without corroborating incriminating material, cannot form the basis for such additions, especially when the assessment years were concluded.
The Tribunal upheld the CIT(A)'s decision to delete the additions. It found that the deemed dividend issue was not conclusively settled by the Supreme Court and that the loan was a business transaction. The bogus purchases were sufficiently documented, and the sale of scrap was part of the manufacturing process eligible for deduction.
The Tribunal held that the High Court had quashed the reassessment notice, and subsequent review petitions and SLPs filed by the Revenue were dismissed. Therefore, the reassessment proceedings were invalid.
The Tribunal dismissed the Department's appeal regarding Section 14A disallowance, agreeing that only investments yielding tax-free income should be considered. The Tribunal allowed the assessee's grounds regarding the interest component in Section 14A disallowance and the lease amortization issue for statistical purposes, remanding them for fresh examination.
The Tribunal held that the reassessment proceedings under Section 147 were void ab initio. This was because the reopening was based on seized documents belonging to other assessees and relied on presumptions, not specific material implicating the assessee.