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465 orders · Page 2 of 10
The Tribunal set aside the CIT(A)'s order and restored the issues to the CIT(A)'s file. The CIT(A) was directed to pass a fresh order after providing a reasonable opportunity to the assessee.
The Tribunal held that the deduction under Section 36(1)(viia) is restricted to the amount of reserve created in the books of account. The reliance on the Supreme Court decision by the CIT(A) was deemed misplaced.
The Tribunal, after hearing the parties and perusing the record, permitted the assessee to withdraw the appeal. Consequently, the appeal was dismissed as withdrawn.
The ITAT found that the CIT(A) may have been mistaken about the nature of the order being appealed and the fee payment. Therefore, the ITAT set aside the CIT(A)'s order and remanded the case for a fresh decision.
The Tribunal upheld the CIT(A)'s decision, agreeing that the income should be assessed under the head 'Income from House Property' and the deduction under Section 24(a) should be allowed. The Tribunal followed the consistent view of the CIT(A) and the ITAT in the assessee's own cases for prior assessment years.
The Tribunal held that Section 194-C is applicable to CAM charges, following a coordinate bench's decision. Since the assessee had already deducted TDS under Section 194-C, the AO was directed to recompute the tax liability.
The Tribunal found that the assessee had brought the dissolution of the partnership firm to the notice of the lower authorities. Therefore, the impugned order was set aside and the assessment was restored to the AO for fresh verification and assessment.
The Tribunal upheld the validity of the reassessment proceedings and the addition made by the AO. The assessee failed to discharge its primary onus to prove the identity, creditworthiness, and genuineness of the cash credit entries.
The Tribunal held that the assessee failed to prove the genuineness of the purchases. The assessee did not cooperate with the Assessing Officer's efforts to verify the transactions, leaving the AO with no option but to treat the purchases as non-genuine.
The Tribunal dismissed the Revenue's appeal as not maintainable because the tax effect was below the monetary limit prescribed by CBDT Circular No. 17/2019. The Revenue can seek recall if the tax effect is later found to be higher or falls under an exception.
The Tribunal held that since the PCIT's revisional order, which formed the basis of the assessment order, was set aside by the Tribunal, the assessment order itself was rendered non est. Consequently, the entire superstructure built upon the flawed revisional order had to fall.
The Tribunal held that the shares were held as investments for a considerable long time with minimal transactions, and the assessee clearly demarcated its portfolio between trading stock and investments. The intention was to have capital appreciation and earn dividends, not to profit from trading activities.
The Tribunal held that the penalty under Section 271AA was not justified. It noted that AY 2013-14 was the first year for such compliance, and the TPO had accepted the assessee's declared price without adjustment, indicating a technical breach rather than mala fide.
The Tribunal held that the assessee's activities are not in the nature of trade, commerce, or business, and the fees collected are to reimburse costs. Following the Supreme Court's decision in Ahmedabad Urban Development Authority's case, the Tribunal ruled that the assessee's activities fall within the definition of charitable trust.
The Tribunal held that the assessee's activities are not in the nature of trade, commerce, or business, and the fees collected are to reimburse costs. Following the Supreme Court's decision in Ahmedabad Urban Development Authority's case, the Tribunal ruled that the assessee's activities fall within the definition of charitable trust.
The Tribunal upheld the CIT(A)'s decision, finding no ambiguity or perversity in allowing deductions under Section 80P for activities related to marketing agricultural produce and providing credit facilities to members. The Tribunal also agreed with the direction to verify grants passed to members.
The Tribunal held that the invocation of Section 142(2A) was arbitrary and lacked bonafide, as the AO had not examined the accounts, and the CIT's approval was perfunctory. Consequently, the assessment order passed beyond the limitation period was deemed void.
The Tribunal held that the CIT(A) erred in excluding surcharge and cess from MAT credit. Following coordinate bench decisions, the Tribunal directed the Assessing Officer to recompute the MAT credit including surcharge and cess.
The Tribunal held that interest received on enhanced compensation under Section 28 of the Land Acquisition Act is in the nature of compensation and not taxable as 'income from other sources'. This is based on Supreme Court judgments which consider such interest as an accretion to the value of compensation.
The Tribunal set aside the order of the CIT(A) and restored the appeal to the file of the jurisdictional CIT(A) for fresh adjudication. This was done without going into the merits of the case, considering the controversy over the jurisdiction of the previous CIT(A).
The Tribunal held that the assessment orders passed in violation of the NCLT moratorium are invalid. It further noted that the Income Tax demands were extinguished as per the NCLT's final order applying the waterfall mechanism.
The Tribunal held that the conveyance deed clearly shows the assessee company as the vendor and the sale consideration was received by the company. The supplementary agreement also indicates a change in ownership to the assessee, making it the rightful seller.
The Tribunal held that the cultivation and sale of high-quality seeds constituted agricultural income, not business income. The assessee had provided sufficient evidence to support their claim, and similar income had been treated as agricultural in earlier and subsequent years.
The Tribunal held that the cultivation and sale of high-quality seeds constituted agricultural income, not business income. The assessee had provided sufficient evidence to support their claim, and similar income had been treated as agricultural in earlier and subsequent years.
The Tribunal held that Section 14A is not applicable if there is no exempt income, and the explanation inserted by the Finance Act, 2022, does not have retrospective effect. Therefore, the disallowance under Section 14A was deleted.
The Tribunal held that the assessment orders passed in violation of the NCLT moratorium are invalid. It further noted that the Income Tax demands were extinguished as per the NCLT's final order applying the waterfall mechanism.
The Tribunal noted that the assessee had filed an application for withdrawal of the appeal and the Revenue had no objection. Therefore, the appeal was dismissed as withdrawn.
The Tribunal found that the CIT(A) admitted evidence without following the due procedure under Rule 46A(1). Therefore, the matter was remanded to the CIT(A) to provide an opportunity to the Assessing Officer, call for a remand report, and then decide the issue.
The Tribunal held that since the Section 263 order, which formed the basis for the impugned assessment order, was quashed by the Tribunal itself, the subsequent assessment order becomes non-est. Therefore, the Revenue's appeal is dismissed.
The Tribunal held that the assessee's claim of interest reimbursement was baseless. The assessee had borrowed funds from its parent company, earned interest on FDRs purchased with these funds, and claimed TDS credit, making the disallowance justified.
The Tribunal held that it is mandatory for the Assessing Officer to specify the nature of default in the penalty notice. The matter was remitted to the AO to verify if the penalty notice was properly ticked.
The Tribunal held that the assessee failed to comply with the mandate of Section 44AB by not getting their accounts audited before the specified date and not furnishing the audit report by the due date. Therefore, the penalty imposed under Section 271B was upheld.
The Tribunal held that since the borrower company reversed the interest expense in the succeeding year and the assessee waived the interest to recover the principal, no real income accrued to the assessee. The Tribunal relied on the 'real income' theory and the borrower's submission that the interest was reversed.
The Tribunal noted that the original appeal and the Miscellaneous Application subsist, rendering the present appeal infructuous. Therefore, no substantive decision on the merits was made.
The Tribunal held that interest received on enhanced compensation under Section 28 of the Land Acquisition Act is in the nature of compensation and not taxable as 'income from other sources'. This is based on Supreme Court judgments which consider such interest as an accretion to the value of compensation.
The ITAT held that the CIT(A) did not follow the procedure laid down under Rule 46A by admitting additional evidence without proper opportunity for the AO to examine it and submit a remand report.
The Tribunal noted that the CIT(Appeals) passed an ex parte order and the assessees were unable to present their case due to ongoing search proceedings. Therefore, the appeals were restored to the Assessing Officer for de novo assessment.
The Tribunal noted that the CIT(Appeals) passed an ex parte order and the assessees were unable to present their case due to ongoing search proceedings. Therefore, the appeals were restored to the Assessing Officer for de novo assessment.
The Tribunal held that the issue of additions on account of sales/services rendered by the Head Office and the disallowance of expenditure under Section 44D were already adjudicated by the Tribunal in the assessee's own case for subsequent assessment years. Consequently, the appeals against these additions were dismissed.
The Tribunal held that the issue of additions on account of sales/services rendered by the Head Office and the disallowance of expenditure under Section 44D were already adjudicated by the Tribunal in the assessee's own case for subsequent assessment years. Consequently, the appeals against these additions were dismissed.
The Tribunal held that the issue of additions on account of sales/services rendered by the Head Office and the disallowance of expenditure under Section 44D were already adjudicated by the Tribunal in the assessee's own case for subsequent assessment years. Consequently, the appeals against these additions were dismissed.
The Tribunal held that the specified domestic transactions did not exceed the threshold of Rs. 5 crores, making Section 92BA inapplicable. Following previous judgments, the Tribunal found no reason to interfere with the CIT(A)'s deletion of the penalty.
The Tribunal held that judicial discipline requires following the ratio of the jurisdictional High Court, even if an SLP has been filed in the Supreme Court. Therefore, the Revenue's appeal on the AMP issue was dismissed.
The Tribunal directed the AO to verify the existence of the JCB machines allegedly sold by the assessee. The assessee is required to provide details of the machines' purchase and existence, failing which the addition will be sustained.
The ITAT set aside the CIT(A)'s order and restored the penalty issue to the CIT(A) for a denovo order. This is to be done after considering the outcome of the quantum addition appeal and providing the assessee with a proper opportunity.
The Tribunal held that software license fees constitute business income and are not taxable in India as the assessee has no Permanent Establishment (PE) there. Receipts from other related services were also held not to be FTS, as the 'make available' clause was not satisfied.
The Tribunal declined to interfere with the CIT(A)'s order as the Revenue could not provide any order reversing the decision in the quantum proceedings. Therefore, the penalty deletion was upheld.
The Tribunal held that the assessee's claim for deduction under Section 10AA was inadmissible. The primary reason for disallowance was the failure to file the Return of Income by the due date prescribed under Section 139(1). The Tribunal referred to the Supreme Court's decision in the case of National Taj Traders (supra) and Wipro Ltd. (supra), which emphasize strict compliance with exemption provisions. The Tribunal found that the conditions for claiming deduction under Section 10AA, particularly the timely filing of the return, were mandatory. The Tribunal rejected the assessee's argument that Section 143(1)(a)(v) was merely procedural and could not override the substantive provisions of Section 10AA, stating that the due date for filing the return is a crucial condition. The Tribunal also noted that the issue of the additional addition of Rs. 2,24,832 was not elaborated upon in the provided text, but the overall disallowance of Section 10AA deduction led to the dismissal of the appeal. The Tribunal did not expressly leave any issue undecided.
The Tribunal held that judicial discipline requires following the ratio of the jurisdictional High Court, even if an SLP has been filed in the Supreme Court. Therefore, the Revenue's appeal on the AMP issue was dismissed.
The Tribunal found that the CIT(A)'s order did not fulfill the statutory requirement of Section 250(6) of the IT Act by not deciding the grounds of appeal on merits. Therefore, the impugned order was set aside.