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589 orders · Page 6 of 12
The tribunal held the assessments invalid on two grounds: (1) additions for 'unabated' assessment years were not based on incriminating material found during the search, citing the Supreme Court's ruling in PCIT vs. Abhisar Buildwell Pvt. Ltd. (2) The Section 153D approvals were invalid as the Additional CIT granted common approvals without examining the entire assessment records separately for each assessment year.
The Tribunal held that the assessment year 2011-12 was beyond the block of 8 assessment years permissible under Section 153C, considering the date of the satisfaction note. Therefore, the assessment order was void ab initio and quashed.
The Tribunal held that the assessee is eligible for the benefit of the New Tax Regime under Section 115BAA as Form 10IC was filed within the extended deadline provided by CBDT Circular No. 19/2023. The Tribunal's decision was supported by a coordinate bench decision of the Ahmedabad Tribunal. Accordingly, the appeal was allowed, overturning the CIT(A)'s order.
The Tribunal determined that the tax effect on the disputed amount in the Revenue's appeals was indeed below the monetary limit specified by CBDT Circular no. 05/2024. Consequently, the Revenue's appeals were deemed withdrawn and dismissed, and the assessee's cross-objections were dismissed as infructuous, with liberty for the Revenue to revive appeals if covered by exceptions to the circular.
The Tribunal affirmed the CIT(A)'s decision, holding that since the quantum additions, forming the basis of the penalty, had already been deleted by the ITAT in the assessee's own case, the penalty levied under section 271(1)(c) was not sustainable. The Tribunal dismissed all Revenue appeals and the assessee's cross-objections.
The Tribunal held that the PCIT cannot invoke Section 263 to revise an assessment order passed with prior approval under Section 153D (or 153A, as per cited precedents) unless the approval itself is found to be erroneous and prejudicial to the revenue. As the PCIT's order failed to establish this, the revision order passed by the PCIT was quashed.
The Tribunal restored the appeal to the National Faceless Appeal Centre (NFAC) for de novo adjudication, granting the assessee a reasonable opportunity to be heard and present further documents and evidence. The assessee is directed to cooperate with the NFAC and avoid unwarranted adjournments. All other technical and merit-based grounds of appeal were left open and restored to the NFAC for fresh consideration.
The Tribunal found that the CIT(E) could not properly assess the charitable nature of the assessee's objects without the required details. Therefore, the Tribunal granted the assessee another opportunity to furnish all necessary documents and information to the CIT(E) for reconsideration of its application for registration under Section 12A of the Act.
The Tribunal held that the addition made by the AO was not justified, considering the DVO's valuation report and an affidavit from the purchaser. The sale consideration declared by the assessee could not be discredited outright.
The Tribunal upheld the CIT(A)'s decision to delete the additions. The AO's remand reports did not find errors in the assessee's documentation, and the Revenue presented no contrary material.
The tribunal held that the non-disposal of the assessee's objections to the reassessment by a speaking order, as mandated by the Supreme Court in GKN Driveshaft (India) Ltd. vs. ITO & Ors., rendered the entire reassessment proceedings invalid and void-ab-initio. The tribunal quashed the Assessing Officer's order, emphasizing the mandatory nature of disposing objections before proceeding with reassessment.
The Tribunal affirmed the Ld.CIT(A)'s decision, holding that an assessment framed in the name of a non-existent company (due to amalgamation) constitutes a jurisdictional defect, not merely a procedural irregularity curable under Section 192B. Citing Supreme Court precedents, the Tribunal concluded that such an assessment is a nullity. The transaction in question was already disclosed by the successor entity, meaning there was no escapement of income.
The Tribunal found that the Assessing Officer's reopening reasons did not quantify the assessee's taxable income that allegedly escaped assessment, a critical flaw. Citing Mahesh Kumar Gupta Vs. CIT, the Tribunal held that such a failure in initiating the reassessment mechanism under sections 148/147 is not sustainable in law. Consequently, the impugned reopening was quashed, and the appeal was allowed.
The Tribunal dismissed the Revenue's appeal as it fell into the category of low tax effect appeals. This decision was based on CBDT Circulars Nos. 5/2024 and 09/2024, which specified an enhanced monetary limit of Rs. 60 lacs for appeals to be filed by the Department. The dismissal included a rider allowing restoration if the issue fell under exceptions or if there was a valid reason.
The tribunal held that the non-disposal of the assessee's objections to the reassessment by a speaking order, as mandated by the Supreme Court in GKN Driveshaft (India) Ltd. vs. ITO & Ors., rendered the entire reassessment proceedings invalid and void-ab-initio. The tribunal quashed the Assessing Officer's order, emphasizing the mandatory nature of disposing objections before proceeding with reassessment.
The Tribunal allowed the assessee to withdraw the appeal, as the CIT(A) had already decided the substantive issue in the assessee's favor and the Department did not object to the withdrawal. Consequently, the appeal was treated as dismissed as withdrawn.
The tribunal, noting the assessee's non-appearance and the ongoing IBC proceedings where the revenue was not pursuing its claim for the assessment year 2001-02, concluded that the appeal had become infructuous. Given these circumstances, the tribunal found that the appeal was left without any consequences to flow.
The Tribunal held that while rectification under Section 154 was not the appropriate remedy for the issues, the assessee was entitled to be heard in proceedings under Section 143(1). Therefore, the appeal under Section 154 was dismissed, but the assessee was granted liberty to file a fresh appeal against the Section 143(1) intimation before the CIT(A) within 30 days. The Tribunal condoned any delay in filing such an appeal and directed the CIT(A) to entertain and adjudicate it expeditiously.
The Tribunal found that the tax effect was indeed below the Rs. 60,00,000/- monetary limit stipulated by CBDT Circular no. 05/2024 dated 15.03.2024, and no exceptions applied. Consequently, the revenue's appeals were dismissed as withdrawn, with liberty granted to revive if conditions change, and the assessee's cross-objections were also dismissed as infructuous.
The Tribunal held that a penalty order passed on a dead person without the impleadment of legal heirs does not legally survive. Consequently, the penalty order issued by the Assessing Officer was quashed.
The Tribunal affirmed the CIT(A)'s decision, holding that since the quantum additions, forming the basis of the penalty, had already been deleted by the ITAT in the assessee's own case, the penalty levied under section 271(1)(c) was not sustainable. The Tribunal dismissed all Revenue appeals and the assessee's cross-objections.
The Tribunal found that the tax effect was indeed below the Rs. 60,00,000/- monetary limit stipulated by CBDT Circular no. 05/2024 dated 15.03.2024, and no exceptions applied. Consequently, the revenue's appeals were dismissed as withdrawn, with liberty granted to revive if conditions change, and the assessee's cross-objections were also dismissed as infructuous.
The Tribunal determined that the tax effect on the disputed amount in the Revenue's appeals was indeed below the monetary limit specified by CBDT Circular no. 05/2024. Consequently, the Revenue's appeals were deemed withdrawn and dismissed, and the assessee's cross-objections were dismissed as infructuous, with liberty for the Revenue to revive appeals if covered by exceptions to the circular.
The Tribunal concurred that the tax effect was below the Rs. 60 lakh monetary limit as per CBDT Circular No. 05/2024 dated 15.03.2024, and no exceptions applied. Therefore, the Revenue's appeals were dismissed, with liberty to revive them if conditions change, and the assessee's Cross Objections were dismissed as infructuous.
The Tribunal allowed the deduction for interest expenditure, finding a direct nexus between the borrowed funds and the earning of interest income under section 57(iii). Regarding unsecured loans, the Tribunal directed the deletion of the addition related to Piyush Kumar, treating the entire loan from him as genuine. For the remaining additions under section 69A, the Tribunal ruled that the revenue failed to establish the initial burden of proof regarding the assessee's ownership of unexplained money, distinguishing it from section 68, and thus deleted the entire addition.
The Tribunal held that the provision for gratuity was allowable as a deduction because it became presently payable upon the transfer of business and was transferred to the buyer. However, the issue regarding delayed deposit of employee's contribution to PF and ESI was not pressed by the assessee.
The Tribunal concurred that the tax effect was below the Rs. 60 lakh monetary limit as per CBDT Circular No. 05/2024 dated 15.03.2024, and no exceptions applied. Therefore, the Revenue's appeals were dismissed, with liberty to revive them if conditions change, and the assessee's Cross Objections were dismissed as infructuous.
The Tribunal, citing CIT Vs. Reliance Petro Produces (2010) 322 ITR 158, held that a quantum addition *ipso facto* does not attract penalty under section 271(1)(c). Since the assessee had filed supportive materials and declared the addition, the impugned penalty was deleted.
The Tribunal found that the assessee had, in fact, duly filed the return of income on 26.10.2012, contradicting the AO's foundational reason for reopening the assessment. Relying on the Delhi High Court judgment in Shri Tarlochan Lal Goel Vs. ACIT, the Tribunal held that reassessment proceedings initiated based on an erroneous finding of fact are not sustainable and therefore quashed the reassessment.
The Tribunal affirmed the CIT(A)'s decision, holding that since the quantum additions, forming the basis of the penalty, had already been deleted by the ITAT in the assessee's own case, the penalty levied under section 271(1)(c) was not sustainable. The Tribunal dismissed all Revenue appeals and the assessee's cross-objections.
Following the Co-ordinate Bench's decision in the assessee's own case for previous assessment years and Supreme Court rulings (PCIT vs. Abhisar Buildwell & CIT vs. Jasjit Singh), the Tribunal held that additions made in search assessments without incriminating material are not sustainable. The impugned assessment order and the order of the Ld. CIT(A) were set aside.
The Tribunal noted the CIT(A)'s dismissal of the appeal as time-barred and without condoning the delay. In the interest of justice and fair play, the Tribunal restored the issue to the file of the Assessing Officer, directing the AO to decide the matter afresh after providing the assessee with an opportunity of being heard.
The Tribunal considered the evidence, including Sh. Ashok Kumar Jain's ledger account, his re-assessment order for AY 2014-15, and his affidavit, all of which showed no interest payment and denied receipt of any interest. The Tribunal found the CIT(A)'s reasoning that there was no evidence to support the appellant's claim of no interest to be unjust and unreasonable. Consequently, the addition of Rs. 7,50,000/- was set aside.
The Tribunal upheld the CIT(A)'s decision, affirming that once an assessee's appeal is allowed on legal grounds, the merit of additions becomes academic. Consequently, the assessment order, having been quashed on legal grounds, could not sustain the additions made by the A.O. The Revenue's grounds of appeal were deemed misconceived.
The Tribunal upheld the CIT(A)'s decision, affirming that once an assessee's appeal is allowed on legal grounds, the merit of additions becomes academic. Consequently, the assessment order, having been quashed on legal grounds, could not sustain the additions made by the A.O. The Revenue's grounds of appeal were deemed misconceived.
The Tribunal observed that the assessee's balance sheet clearly categorized the shares as capital assets/investments, indicating an investment intent. It relied on CBDT Circular No. 4 of 2007, which clarifies the possibility of taxpayers maintaining two portfolios (investment and trading) and supplements Instruction No. 1827. Citing various High Court precedents, the Tribunal concluded that the AO's recharacterization of the gain as business income was unwarranted and without basis.
The Tribunal held that the mere confirmation of a quantum addition does not automatically attract penalty under section 271(1)(c) for concealment of income. Following the precedent set in CIT Vs. Reliance Petro Products Pvt. Ltd., the penalty was deleted.
The Tribunal observed that the CIT(A) had dismissed the appeals ex-parte without addressing the merits of the grounds of appeal. Consequently, the Tribunal decided to remand the matter back to the CIT(A) to hear and decide the appeals afresh on their merits, ensuring the assessee is provided with a proper opportunity of being heard.
The Tribunal observed that the CIT(A) had dismissed the appeals ex-parte without addressing the merits of the grounds of appeal. Consequently, the Tribunal decided to remand the matter back to the CIT(A) to hear and decide the appeals afresh on their merits, ensuring the assessee is provided with a proper opportunity of being heard.
The ITAT upheld the CIT(A)'s decision, confirming that the assessee had discharged its primary onus by providing necessary documents (loan confirmations, bank statements, ITR acknowledgments) to establish the identity, source, and creditworthiness of the lenders and the genuineness of the transactions. The ITAT found the AO's additions to be unsustainable, being based on presumption and conjecture rather than adverse material. The deletion of interest disallowance was consequential to the deletion of the loan addition. The assessee's cross-objection was also dismissed.
The Tribunal held that the CBDT order dated 08.10.2018 had indeed extended the due date for filing the return of income and Audit Report for AY 2018-19 to 31.10.2018. Since the assessee filed on 29.10.2018, there was no lapse in compliance with the provisions of the Act. Therefore, the Ld. CIT(A)'s action in denying the exemption was contrary to the statutory position, and the CPC/JAO was directed to re-evaluate the eligibility considering the extended due date.
The Tribunal ruled that reopening assessment proceedings solely for the purpose of verification, especially when no verification was carried out during the initial assessment, is not legally sustainable. Citing High Court precedents, the Tribunal quashed the impugned reopening proceedings.
The Tribunal held that interest awarded under Section 28 of the Land Acquisition Act on enhanced compensation is a revenue receipt and taxable under the head 'Income from other Sources' as per Section 56(2)(viii) of the Income Tax Act. The exemption under Section 10(37) is not applicable to such interest.
The Tribunal remitted the case back to the CIT(A) for fresh adjudication, directing the CIT(A) to frame points of determination and provide a detailed adjudication on the merits as required by Section 250(6). The assessee was made responsible for pleading and proving all relevant facts during these fresh proceedings.
The Tribunal observed that while the assessee couldn't fully prove the deposits were from sales outside books, the department also failed to conclusively rebut the possibility of such sales by a textile trading business. Considering the unique facts, the Tribunal restricted the original addition of Rs.30.18 lacs to a sum of Rs.10 lacs, providing relief of Rs.20.18 lacs, with a caveat that this decision should not be treated as a precedent.
The Tribunal, citing prior judgments, noted that the issue of belated filing of Form 10B for Section 11 exemption is no longer res-integra, allowing such compliance even at the first appellate stage. Consequently, the Tribunal accepted the assessee's grievance in principle and directed the CIT(A)/NFAC to re-adjudicate the appeal on merits, with the assessee responsible for presenting all relevant facts.
During the hearing, the assessee's representative submitted an application under the Vivad se Vishwas Scheme, 2024, and requested to withdraw the appeal, which the Revenue did not object to. The Tribunal, noting the assessee's availment of the VSV Scheme, disposed of the appeal as withdrawn, subject to approval by the competent authority, while granting liberty to recall the order if the declarations are not accepted.
The Tribunal found that the delay was due to a reasonable cause (lack of knowledge about the e-filing system) and condoned the 1030-day delay. The matter was remanded back to the CIT(A)/NFAC for fresh adjudication on merits, with a directive for fair opportunities for the taxpayer.