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684 orders · Page 7 of 14
The Tribunal noted that neither the AO nor the CIT(A) had examined the merits of the case due to lack of details. The assessee submitted these details before the Tribunal and thus, the matter was remitted back to the AO for fresh consideration.
The Tribunal held that the eligibility for Section 10AA benefit was covered by previous decisions in the assessee's own case. For Section 80G, the issue was remanded to the Assessing Officer to verify the necessary documentation and compliance with the law.
The Tribunal condoned the delay in filing the appeal. Finding that the CIT(A) passed a non-speaking order and did not decide the issues on merit or jurisdiction, the matter was remitted back to the CIT(A) for fresh adjudication.
The Tribunal held that the notice under Section 148 of the Act was issued beyond three years from the end of the assessment year, and the escaped assessment amount was less than Rs.50,00,000/-. Therefore, the assessment was without jurisdiction.
The Tribunal held that the eligibility for Section 10AA benefit was covered by previous decisions in the assessee's own case. For Section 80G, the issue was remanded to the Assessing Officer to verify the necessary documentation and compliance with the law.
The Tribunal acknowledged the possibility of communication gaps and deemed it appropriate in the larger interest of justice to restore the appeal to the CIT(A) for fresh adjudication. The CIT(A) was directed to provide three effective opportunities of hearing.
The Tribunal held that the CIT(E) did not provide adequate opportunity of being heard to the assessee and that the rejection of registration was not justified. The issues were restored to the file of the CIT(E).
The Tribunal held that the notices issued u/s 148 for A.Ys 2012-13 and 2013-14 were beyond the ten-year period prescribed under Section 149(1)(b) of the Act, making them time-barred. Consequently, the assessment order was quashed.
The Tribunal held that the issues raised for reassessment were not examined during the original assessment, thus it was not a case of change of opinion. The CIT(A) rightly remanded the matter to the AO for de-novo assessment.
The Tribunal held that the approval granted under Section 153D was mechanical and lacked application of mind, as it was a single approval for multiple assessment years and assessees without specific mention of seized material. Consequently, the assessment orders were vitiated.
The Tribunal observed that the assessee failed to rectify the defects pointed out by the registry. The appeal was dismissed as defective, with liberty to the assessee to file a miscellaneous application for revival.
The Tribunal held that since the assessee opted for taxation under Section 115BAA, the applicable rate of tax for the total income, including Long Term Capital Gain, is 22%. The order of the CIT(A) upholding this rate was confirmed.
The Tribunal partially allowed the appeal. It accepted the cash deposit of Rs.1,40,000/- from salary and Rs.3,00,000/- as gift. However, the remaining amount of Rs.7,58,000/- was confirmed as unexplained.
The Tribunal found that the CIT(A)'s order was non-speaking and lacked proper justification regarding the disallowance of expenses and the denial of cross-examination. The Tribunal set aside the CIT(A)'s order.
The Tribunal held that the penalty levied by the stock exchange for short fall in margin money is not an offence or prohibited by law, and therefore, is an allowable expenditure under Section 37 of the Income Tax Act. Consequently, the disallowance made by the CPC and sustained by the CIT(A) was set aside.
The Tribunal held that the assessee's explanation for the cash deposits, sourced from past savings of rental income and current year rent received in cash, was plausible, considering her age and health condition. The addition made by the AO was directed to be deleted.
The Tribunal held that the assessee failed to comply with notices during both assessment and appellate proceedings. However, considering the facts and in the interest of justice, the matter was restored to the Assessing Officer for a de novo assessment.
The Tribunal upheld the CIT(A)'s decision to delete the disallowances. It found that the assessee had provided sufficient evidence for interest payments and that Section 14A did not apply to investments held as stock-in-trade. The Tribunal also noted that many of these issues were recurring and had been decided in favor of the assessee in previous years.
The Tribunal held that additions under Section 69A cannot be made without proving the assessee's possession and ownership of the cash. Since the diary was found at the company's premises and no cash was found with the assessee, the transactions were considered to relate to the company.
The Tribunal held that the approval granted under Section 153D was mechanical and lacked application of mind, as it was a single approval for multiple assessment years and assessees without specific mention of seized material. Consequently, the assessment orders were vitiated.
The Tribunal held that remuneration received by a partner from a firm is business income under Section 28(v) of the Income Tax Act, and expenditure incurred wholly and exclusively for earning such income is allowable under Sections 32 and 37. The Tribunal also invoked the rule of consistency, noting that similar expenditure was allowed in the past.
The Tribunal held that the approval granted under Section 153D was mechanical and lacked application of mind, as it was a single approval for multiple assessment years and assessees without specific mention of seized material. Consequently, the assessment orders were vitiated.
The Tribunal, following the Delhi High Court judgment in CIT vs. UMW Sher (L) Ltd., held that income from giving rigs on hire for prospecting, extraction, or production of mineral oil is covered under Section 44BB of the Act, and thus, Section 9(1)(vi) cannot be made applicable.
The Tribunal held that the approval granted under Section 153D was mechanical and lacked application of mind, as it was a single approval for multiple assessment years and assessees without specific mention of seized material. Consequently, the assessment orders were vitiated.
The Tribunal held that the approval granted under Section 153D was mechanical and lacked application of mind, as evidenced by a single approval for two assessment years and no mention of perused documents. Consequently, the assessment order was vitiated and quashed.
The Tribunal held that additions under Section 69A cannot be made without proving the assessee's possession and ownership of the cash. Since the diary was found at the company's premises and no cash was found with the assessee, the transactions were considered to relate to the company.
The Tribunal held that the issue of taxability of MRC receipts has been consistently decided in favour of the assessee by various ITAT benches and High Courts. Regarding reimbursements for travel agent commissions, the Tribunal found they were not FTS as the assessee did not render services to Indian hotels but rather recovered payments made to third-party travel agents.
The Tribunal found the assessee's explanation for cash deposits from sales plausible to the extent of Rs.8.94 Lakhs, deleting that portion of the addition. The grounds challenging the validity of reopening were dismissed.
The Tribunal held that the assessee failed to substantiate the genuineness of the transactions and the lenders for the unsecured loans. The AO's excessive addition on commission was rectified by the CIT(A), and no interference was deemed necessary.
The Tribunal admitted additional evidence submitted by the assessee and decided to remit the case back to the AO. The AO is directed to verify the additional evidence and redo the assessment de novo, providing the assessee with a proper opportunity of being heard.
The Tribunal held that additions under Section 69A cannot be made without proving the assessee's possession and ownership of the cash. Since the diary was found at the company's premises and no cash was found with the assessee, the transactions were considered to relate to the company.
The Tribunal upheld an addition of INR 2,22,67,300/- as unexplained income, modifying the CIT(A)'s deletion of certain amounts. Regarding commission income, the Tribunal directed the Assessing Officer to apply a 1% commission rate on a revised total transaction amount.
The Tribunal found that neither the assessee fully explained the source of the cash nor did the department completely disregard the evidence. In the interest of justice, the Tribunal restricted the addition to Rs. 1,00,000/-.
The Tribunal held that the trading and service segments of the assessee's business are intertwined and cannot be separated. The revenue's action to divide the segments and allocate costs based on segment revenue without properly analyzing the nature of functions was deemed incorrect.
The Tribunal held that the AO cannot make adjustments to book profits under Section 115JB beyond those prescribed in Explanation 1 to Section 115JB(2), as per Supreme Court decisions. The royalty payment issue was remitted back to the AO for further factual verification.
The Tribunal held that the PCIT failed to point out any definite error in the assessment order and that the issues raised were adequately examined by the Assessing Officer. The Tribunal found that the PCIT's order was beyond jurisdiction as the twin conditions for invoking Section 263 were not met.
The Tribunal upheld an addition of INR 2,22,67,300/- as unexplained income, modifying the CIT(A)'s deletion of certain amounts. Regarding commission income, the Tribunal directed the Assessing Officer to apply a 1% commission rate on a revised total transaction amount.
The Tribunal upheld the deletion of additions by the CIT(A) for most of the credit entries, finding them explained by the assessee. However, the Tribunal dismissed the Revenue's appeal against the deletion of INR 9.49 crores.
The Tribunal condoned the delay in filing the appeal before the CIT(A). It held that since the assessment order was set aside, the consequential penalty order could not survive. The penalty order was quashed.
The Tribunal upheld the deletion of additions by the CIT(A) for most of the credit entries, finding them explained by the assessee. However, the Tribunal dismissed the Revenue's appeal against the deletion of INR 9.49 crores.
The Tribunal noted that both the assessment orders and the CIT(A) orders were ex-parte. In the interest of justice, the Tribunal restored the issue to the file of the AO for de-novo assessment.
The Tribunal held that the approval granted under Section 153D of the Act was mechanical and lacked application of mind, as it was a single approval for multiple assessment years and did not indicate any perusal of seized material. Consequently, the assessment order was vitiated.
The Tribunal upheld the CIT(A)'s decision, finding that the TPO failed to provide specific reasons to reject the CUP method. Reliance was placed on judicial precedents and OECD guidelines which accept price quotes from commodity exchanges for CUP analysis.
The Tribunal noted that both the assessment orders and the CIT(A) orders were ex-parte. In the interest of justice, the Tribunal restored the issue to the file of the AO for de-novo assessment.
The Tribunal noted that both the assessment orders and the CIT(A) orders were ex-parte. In the interest of justice, the Tribunal restored the issue to the file of the AO for de-novo assessment.
The Tribunal noted that both the assessment orders and the CIT(A) orders were ex-parte. In the interest of justice, the Tribunal restored the issue to the file of the AO for de-novo assessment.
The Tribunal held that the assessee had explained the source of cash deposits, which were out of opening cash balance. The AO's reasoning for not accepting the opening cash balance, based on the assessee not filing a return for the previous AY, was considered unjustified and unwarranted.
The Tribunal held that the Assessing Officer had misinterpreted the clauses of the agreements between the assessee and its end-users/distributors. The Tribunal found that the assessee was merely selling software products for business use for a determined period, which is covered by the Supreme Court's judgment in Engineering Analysis Centre of Excellence Private Limited vs. CIT (supra). The Tribunal noted that the AO had not interpreted the agreements in the proper context. Since there were no distinguishing facts or legal positions presented by the Revenue, the Tribunal deleted the addition of Rs. 30,63,16,623/- made by the AO. The ground of appeal was allowed.
The Tribunal followed its own prior decision in the assessee's own case for earlier assessment years, which had allowed similar deductions. The Revenue did not controvert the assessee's submission that the facts were identical.
The Tribunal held that the seized diary and its contents, including election-related expenses, were attributable to the assessee. The affidavit by Rohit Sharma was not accepted as sufficient to rebut the presumption that the diary belonged to the assessee, given the circumstantial evidence and references within the diary.