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607 orders · Page 4 of 13
The Tribunal found that the CIT(A) erred in dismissing the appeal as non-est due to a curable defect, especially when the assessment order also had a similar error. Therefore, the matter was restored to the Assessing Officer for rectification.
The Tribunal held that the assessment orders clearly showed that the additions were devoid of any incriminating material found at the time of search. Therefore, the ratio laid down by the Supreme Court in the case of Sinhgad Technical Education Society, which requires a nexus between the issue of notice u/s 153C and incriminating material, squarely applies.
The Tribunal held that merely making a claim not accepted by the Revenue does not automatically amount to concealment of income. The penalty was found unsustainable based on the Apex Court's judgment in Reliance Petro Products Pvt. Ltd.
The Tribunal held that the primary burden of establishing the identity, creditworthiness, and genuineness of transactions for share capital was discharged by the assessee, leading to the deletion of additions on this ground for certain entities. However, for other entities, the CIT(A)'s findings upholding additions were agreed with. The case of Zodiac Transport Co. Pvt. Ltd. was remanded due to a changed scenario following decisions in SVP Group entities' appeals.
The Tribunal held that the assessment orders clearly showed that the additions were devoid of any incriminating material found at the time of search. Therefore, the ratio laid down by the Supreme Court in the case of Sinhgad Technical Education Society, which requires a nexus between the issue of notice u/s 153C and incriminating material, squarely applies.
The Tribunal held that the Assessing Officer lacked valid jurisdiction to reopen the assessment under Section 147/148 as the reasons recorded were not based on independent application of mind and lacked tangible material. Consequently, the reassessment orders were quashed.
The Tribunal held that disallowances made under Section 143(1) for employee PF/ESI contributions paid before the return filing due date are not warranted. It also directed deletion of disallowance for exchange gains on fixed assets, deeming the issue debatable and outside the scope of Section 143(1).
The Tribunal held that no disallowance is warranted for belated payment of employees' contribution to ESI and PF if deposited before the due date of filing the income tax return. The amendments made by the Finance Act, 2021, were considered to be effective from April 1, 2021.
The Tribunal held that the primary burden of establishing the identity, creditworthiness, and genuineness of transactions for share capital was discharged by the assessee, leading to the deletion of additions on this ground for certain entities. However, for other entities, the CIT(A)'s findings upholding additions were agreed with. The case of Zodiac Transport Co. Pvt. Ltd. was remanded due to a changed scenario following decisions in SVP Group entities' appeals.
The Tribunal held that the statement of the assessee's son, who had no direct association with the business and was not authorized to provide stock valuation, lacked evidentiary value. Consequently, the addition on account of stock valuation was deleted. The disallowance of labour charges for furniture was restricted to Rs. 5,000.
The Tribunal held that the CIT(Appeals) should adjudicate the issue on merits rather than rejecting the additional evidence on a technicality. The appeal was restored to the CIT(Appeals) for a decision after providing an opportunity to be heard.
The Tribunal held that employee contributions to PF & ESI, if deposited before the due date of filing the return of income, are allowable as a deduction. The amendments by Finance Act, 2021, are prospective.
The Tribunal restored the issue of gratuity provision to the AO for verification of whether it was made from current profits, based on the auditor's affidavit. The addition for belated EPF/ESIC payments was deleted, following jurisdictional High Court precedents.
The Tribunal dismissed the assessee's grounds of appeal, upholding the CIT(A)'s decisions regarding disallowances under Sections 36(1)(iii), 40(a)(ia), 40A(3), and for interest on FBT. The assessee did not provide sufficient evidence to counter the findings of the lower authorities.
The Tribunal dismissed the assessee's grounds of appeal, upholding the CIT(A)'s decisions regarding disallowances under Sections 36(1)(iii), 40(a)(ia), 40A(3), and for interest on FBT. The assessee did not provide sufficient evidence to counter the findings of the lower authorities.
The Tribunal held that the appeal was not maintainable due to low tax effect, as per CBDT Circular No. 17/2019. The appeal was dismissed as infructuous.
The Tribunal noted that Form No. 5 was issued to the assessee under The Direct Tax Vivad Se Vishwas Act, 2020. Consequently, the appeal was allowed to be withdrawn.
The Tribunal held that since the assessee had sufficient interest-free funds (own capital and interest-free loans from friends/relatives) to cover the interest-free loan given to his mother, it is presumed that the advance was made out of these own funds. Therefore, no disallowance of interest is warranted.
The Tribunal held that the CIT(A) had rightly deleted the additions as identical issues in earlier assessment years were decided in favour of the assessee, and no additions were made in subsequent years. The disallowances were made on an ad-hoc basis without substantiation.
The Tribunal held that the AO cannot make additions on grounds different from those recorded in the reasons for reopening the assessment without issuing a fresh notice under Section 148. Therefore, the assessment order was not sustainable in law.
The Tribunal upheld the CIT(A)'s decision, finding that the assessee's calculation of project completion at 24.89% was supported by an architect's certificate and was not disproved by the Revenue. Therefore, no revenue recognition was required.
The Tribunal set aside the CIT(A)'s order and restored the matter to the AO for fresh adjudication. This was done to provide the assessee another opportunity to present their case, subject to a cost of Rs. 25,000.
The Tribunal found that the disallowance was made on an estimate and ad hoc basis. Considering the facts and nature of the business, the Tribunal reduced the disallowance to 25% of the expenses.
The Tribunal held that since identical issues in earlier assessment years were decided in favour of the assessee by the Tribunal, and no distinguishing facts or higher judicial pronouncements were presented by the Revenue, the CIT(A)'s order should be upheld.
The Tribunal held that since the assessee had sufficient interest-free funds (own capital and interest-free loans from friends/relatives) to cover the interest-free loan given to his mother, it is presumed that the advance was made out of these own funds. Therefore, no disallowance of interest is warranted.
The Tribunal held that for completed assessments, Section 153A proceedings can only be based on incriminating material found during the search. Since no such material was found, the additions made by the Assessing Officer were invalid.
The Tribunal held that for completed assessments, Section 153A proceedings can only be based on incriminating material found during the search. Since no such material was found, the additions made by the Assessing Officer were invalid.
The Tribunal held that the assessee was prevented from furnishing required details before the authorities and that the additional evidence should be admitted. The CIT(A) was directed to consider the additional evidence and decide the issues afresh on merits.
The Tribunal noted that the CIT(Appeals) order was passed ex parte and there was no effective representation for the assessee. Therefore, the matter was restored to the CIT(Appeals) for a fresh decision.
The Tribunal noted that the basis of the addition, an order from the Commercial Tax Department, had been set aside and restored for re-adjudication. Since the final order of the Commercial Tax Department was not available, the Tribunal restored the issue back to the CIT(A) for a fresh decision after considering the final order.
The Tribunal affirmed the findings of the lower authorities that the bank account was operated in the individual capacity of the assessee and not as Karta of an HUF. In the absence of contrary evidence regarding the nature of the account and the source of deposits, the addition was sustained.
The Tribunal held that AMP expenditure incurred by the assessee for its domestic business did not constitute an international transaction in the absence of evidence of an agreement or arrangement between associated enterprises for excessive AMP spending. Regarding receivables, the Tribunal allowed netting of interest and set off of brought forward losses.
The Tribunal held that the assessee failed to provide sufficient evidence to rebut the findings of the authorities below regarding the short-term capital gains and unexplained unsecured loans. The assessee also failed to appear before the Tribunal despite multiple opportunities.
The Tribunal held that the penalty notice under Section 274 r.w.s. 271 was invalid because it did not specifically state the grounds for imposing the penalty, i.e., whether it was for concealment of income or furnishing inaccurate particulars. Following jurisdictional High Court judgments, the penalty levied was quashed.
The Tribunal held that the CIT(A) should have adopted a liberal approach and condoned the delay, considering the medical certificate provided by the assessee. The case was remanded to the CIT(A) to decide the appeal on its merits.
The Tribunal held that AMP expenditure incurred by the assessee for its domestic business did not constitute an international transaction in the absence of evidence of an agreement or arrangement between associated enterprises for excessive AMP spending. Regarding receivables, the Tribunal allowed netting of interest and set off of brought forward losses.
The Tribunal found that the CIT(A) had not adjudicated the issue on merits. Therefore, the case was remanded back to the CIT(A) to pass a speaking order and decide the issue on merits.
The Tribunal held that corpus donations for land and building funds and life membership fees were capital receipts. It also considered the application of funds towards the construction of a community hall. The appeal was decided on these grounds.
The Tribunal permitted the assessee to withdraw the appeal. The appeal was accordingly dismissed as withdrawn.
The Tribunal held that the exceptions to the monetary limit, as provided in subsequent CBDT circulars, were prospective and not applicable to appeals filed before the effective date of those exceptions. Therefore, the appeal was not maintainable as the tax effect was below the limit.
The assessee requested withdrawal of the appeal as they had opted to settle the dispute under the Direct Tax Vivad Se Vishwas Act, 2020. The Departmental Representative did not oppose this request.
The Tribunal held that the reopening of assessment under Section 147/148 was bad in law as it was based on the same information available during the original assessment and lacked fresh tangible material. Therefore, the reassessment proceedings and the consequent additions were quashed.
The ITAT held that in the interest of justice, the appeal should be restored to the CIT(A) for a decision on merits. The CIT(A) is directed to provide an adequate opportunity of being heard to the assessee.
The Tribunal held that the penalty notice issued under Section 274 was invalid because it did not specify whether the penalty was for concealment of income or for furnishing inaccurate particulars of income. Following jurisdictional High Court judgments, the penalty levied was obliterated.
The Tribunal upheld the additions made by the Assessing Officer, finding that the assessee failed to rebut the findings of the AO regarding bogus purchases of shares and the payment of brokerage. The tribunal found no reason to interfere with the orders of the lower authorities.
The Tribunal accepted the assessee's request for withdrawal of the appeal. The dispute was considered settled under the Vivad Se Vishwas Act, rendering the appeal infructuous.
The Tribunal held that since no incriminating material was found during the search, the additions made under Section 153A were not sustainable. The assessment order was quashed, and the additions were deleted.
The Tribunal held that since the assessee had disclosed complete facts and paid taxes on the income in the subsequent year, it was not a fit case for imposing penalty under Section 271(1)(c). The penalty order was set aside.
The Tribunal restored the issue to the file of the CIT(A) for verification of the assessee's claim regarding consultancy payments and TDS deduction. The assessee is directed to produce original confirmations from the parties.