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458 orders · Page 2 of 10
The Tribunal held that the deduction claimed for lease rentals on assets leased after April 1, 2001, was distinct and separate from lease rentals on assets leased prior to that date. The CIT(A)'s finding that these were separate could not be controverted by the Revenue.
The Tribunal noted that the tax effect was below the monetary limit prescribed by CBDT Circular No. 17/2019. As there were no exceptions applicable, the appeal was deemed withdrawn.
The Tribunal held that the Assessing Officer erred by rejecting the assessee's valuation report without referring the matter to a Valuation Officer or providing specific reasons for rejection. The AO's action was not supported by evidence.
The Tribunal held that the AO exceeded the scope of limited scrutiny by recharacterizing the income without proper approval, rendering the assessment order void. The assessment order was quashed for violating CBDT instructions.
The Tribunal held that the Revenue's appeal was not maintainable as the tax effect was below the Rs. 50 lakhs limit specified in the CBDT circular. The assessee did not press their cross-objection.
The Tribunal held that the deduction claimed for lease rentals on assets leased after April 1, 2001, was distinct and separate from lease rentals on assets leased prior to that date. The CIT(A)'s finding that these were separate could not be controverted by the Revenue.
The Tribunal upheld the validity of proceedings under Section 153C and sustained the additions made by the Assessing Officer, including disallowance of bank charges and addition of an unsecured loan under Section 68.
The Tribunal held that the deduction claimed for lease rentals on assets leased after April 1, 2001, was distinct and separate from lease rentals on assets leased prior to that date. The CIT(A)'s finding that these were separate could not be controverted by the Revenue.
The Tribunal considered the request for withdrawal of the appeal. In light of the request, the appeal was dismissed as withdrawn.
The Tribunal noted that the assessee had opted for the Vivad se Vishwas scheme. Consequently, the appeal was dismissed as infructuous.
The assessee's counsel informed the tribunal that the assessee no longer wished to pursue the appeal. The Revenue's representative had no objection to this request.
The Tribunal acknowledged the moratorium declared under Section 14 of the IBC, which prohibits continuation of proceedings against the corporate debtor. Therefore, the appeal could not be proceeded with.
The Tribunal noted that the grounds concerning PE and business profits were withdrawn as settled by MAP. The remaining ground regarding interest under Section 234B was also withdrawn by the assessee.
The ITAT held that the CIT(A) failed to provide a reasonable opportunity of being heard and did not pass a speaking order as required by Section 250(6). The rejection of adjournment was not justified.
The Tribunal decided in favour of the assessees, following a coordinate bench's order. It directed the Assessing Officer to exclude CSR expenses from book profits for the purpose of computing book profit under Section 115JB.
The Tribunal decided in favour of the assessees, following a coordinate bench's order. It directed the Assessing Officer to exclude CSR expenses from book profits for the purpose of computing book profit under Section 115JB.
The Tribunal decided in favour of the assessees, following a coordinate bench's order. It directed the Assessing Officer to exclude CSR expenses from book profits for the purpose of computing book profit under Section 115JB.
The ITAT held that the CIT(A) erred in not admitting the additional evidence as the assessee was prevented by sufficient cause from producing it during assessment. The Tribunal restored the issue to the Assessing Officer for de novo consideration.
The Tribunal noted that both the assessment order and the CIT(A)'s order confirming the penalty were ex-parte. The assessee's representative claimed reasonable opportunities were not provided, which the Revenue did not dispute. Therefore, the Tribunal set aside the CIT(A)'s order and restored the issue to the Assessing Officer for a denovo assessment.
The Tribunal upheld the CIT(A)'s deletion of the addition under Section 40A(3) as the payments were for agricultural produce, falling under an exception in Rule 6DD(e). The Tribunal also deleted the addition under Section 68, finding that the unsecured loans were received in earlier years and not fresh credits in the relevant year.
The Tribunal held that the assessee's contradictory stand on the nature of the expense was a concocted story and not permissible. Furthermore, payment of commission for referral of patients is not a valid business expense as per public policy and medical council rules.
The ITAT condoned the delay in filing the appeal. For the deemed dividend addition, the Tribunal noted that no payment was received during the year, making the addition legally untenable. For cessation of liability, the Tribunal directed the AO to verify if the liability is still subsisting.
The Tribunal observed that the assessee had not certified whether the documents and judgments filed before it were also presented to the lower authorities. Therefore, to resolve the controversy, the case was remanded to the CIT(A) for a fresh decision after analyzing relevant judgments.
The Tribunal held that the appeal had become infructuous due to the assessee opting for the Vivad se Vishwas Scheme. Therefore, the appeal was treated as withdrawn and dismissed.
The Tribunal held that the tax effect for determining the maintainability of an appeal should be based on the disputed amount in the grounds of appeal, not the total relief granted. Consequently, the appeal was found to be not maintainable due to low tax effect.
The Tribunal upheld the CIT(A)'s decision to delete the disallowances, finding that interest-free loans were commercially expedient and that Section 14A disallowance was not applicable when no exempt income was earned. The Tribunal also ruled that Section 115JB was not applicable to tonnage tax companies.
The Tribunal held that the additions were not sustainable as they were not based on any incriminating material found during the search. The CIT(A)'s deletion of additions was upheld, following jurisdictional High Court decisions.
The Tribunal upheld the denial of exemption as the assessee failed to provide conclusive evidence to rebut the departmental authorities' findings regarding violations of Sections 13(1)(c) and 13(1)(d). The assessee also failed to appear or lead evidence before the Tribunal.
The Tribunal held that the reopening of assessment under Section 147 was valid as the AO had tangible material. However, the Tribunal found that the assessee had sufficiently explained the sources of the cash deposits, including opening cash balance, bank withdrawals, and sale of land proceeds.
The Tribunal held that the interest of justice would be served by giving the assessee an opportunity to explain the delay with evidence. The CIT(A) was directed to consider the reasons for delay and take a decision based on principles of justice, equity, and good conscience.
The Tribunal held that the additions were not sustainable as they were not based on any incriminating material found during the search. The CIT(A)'s deletion of additions was upheld, following jurisdictional High Court decisions.
The Tribunal held that the notice under Section 148 was issued in the name of a non-existent entity, M/s MARS Fashions Pvt. Ltd., which had merged with M/s ASM Pipes Pvt. Ltd. prior to the issuance of the notice. This vitiated the entire assessment proceedings.
The Tribunal held that the assessee had a reasonable cause for not furnishing the tax audit report as their commission income was below the threshold limit prescribed under Section 44AB. The Tribunal noted that the tax audit report was eventually furnished and the assessment was carried out, causing no prejudice.
The Tribunal found merit in the assessee's plea regarding the mismatch due to different accounting methods. It held that TDS credit cannot be denied if the TDS has been deposited in the government treasury, and the corresponding income has been declared in any assessment year.
The Tribunal held that the payments received by the assessee from the sale of software products/licenses are not in the nature of royalty under Section 9(1)(vi) of the IT Act or Article 12(3) of the India-USA DTAA. These are considered normal business income from the sale of copyrighted products, not taxable in India in the absence of a Permanent Establishment.
The Tribunal allowed the appeal on the transfer pricing issue, finding the adjustment made by the AO to be uncalled for. For other grounds concerning taxability of interest on refund, non-reduction of interest, TDS credit, and excess withdrawal of interest, the Tribunal directed the AO to dispose of pending rectification applications.
The Tribunal held that the assessee had a reasonable cause for not furnishing the tax audit report as their commission income was below the threshold limit prescribed under Section 44AB. The Tribunal noted that the tax audit report was eventually furnished and the assessment was carried out, causing no prejudice.
The Tribunal held that the assessee had provided substantial documentary evidence, including the contractors' IT returns showing the income, and TDS compliance. The AO's attempt to seek personal attendance of contractors located far away via summons was flawed, and a second round of inquiry would be futile given the business closure.
The Tribunal held that Section 2(22)(e) is a deeming provision and its application to ordinary taxpayers may not be straightforward. In the absence of mala fide, penalty under Section 271(1)(c) was not justified for issues arising from the interpretation of Section 2(22)(e).
The Tribunal held that disallowances under Section 14A were not warranted as no exempt income was earned, and that Section 40(a)(ia) was not applicable due to DTAA provisions. The cross-objection regarding Section 115JB was also allowed.
The Tribunal found merit in the assessee's contention that the net result of derivative transactions should be considered as turnover for the purpose of Section 44AB. They relied on guidance from ICAI and a coordinate bench decision, acknowledging a bona fide belief on the part of the assessee.
The Tribunal noted that while earlier decisions favored the assessee on capital gains vs. business income, a later decision for AY 2014-15 restored the disallowance under Section 14A. Following this later precedent, the addition under Section 14A was restored.
The tribunal held that while the disallowance of employee contributions paid after the due date is permissible under Section 143(1)(a)(iv), the mandatory procedure of providing an intimation to the assessee before making such adjustments was not followed.
The Tribunal permitted the assessee to withdraw the appeal as the dispute had been settled under the Vivad Se Vishwas Act, 2020, and Form 5 was issued by the designated authority.
The Tribunal upheld the penalties imposed by the Assessing Officer and confirmed by the CIT(A). The assessee failed to provide any evidence of reasonable cause for the delays.
The Tribunal held that the PCIT erred in assuming jurisdiction under Section 263 when an appeal on the same issue was pending before the CIT(A). Exercising Section 263 powers in such a scenario is barred by law.
The Tribunal held that the assessee is eligible for credit of the TDS as the transaction and deduction occurred in the relevant assessment year. The Assessing Officer is directed to give credit for the TDS and issue the refund.
The Tribunal upheld the disallowance made by the AO and confirmed by the CIT(A) under Section 40A(2)(b) as the assessee failed to provide any evidence to rebut the findings. The appeal was dismissed ex-parte due to the assessee's non-appearance.
The Tribunal held that the Hon'ble Supreme Court has ruled that employers must deposit employee's contribution towards EPF/ESI on or before the due date to avail deduction. The Supreme Court clarified that such employee contributions are deemed income and are only deductible if deposited within the stipulated due dates.
The Tribunal upheld the penalties imposed by the Assessing Officer and confirmed by the CIT(A). The assessee failed to provide any evidence of reasonable cause for the delays.