ITAT Guwahati Judgments — October 2022

The Tribunal held that the AO did not properly ascertain the fair market value of the goods purchased. Therefore, the issue was remanded back to the AO for fresh determination.

The Tribunal restored all issues to the file of the CIT(A) for fresh adjudication. The assessee was directed to be attentive to notices and provide necessary details, and the CIT(A) was directed to provide a reasonable opportunity of hearing.

The Tribunal upheld the CIT(A)'s decision, stating that the reassessment was based on a change of opinion and lacked proper grounds for reopening after four years. It also confirmed that losses from trading in derivatives, as per Section 43(5)(d) of the Act, are not speculative transactions.

The Tribunal found that the CIT(A)'s order was ex-parte and lacked merit-based discussion. Therefore, in the interest of justice, the Tribunal set aside the CIT(A)'s order and remitted the matter back for a fresh decision.

The Tribunal found that the CIT(A) passed an ex-parte order without discussing the merits of the case. Therefore, the Tribunal set aside the impugned order and remitted the matter back to the CIT(A) for a fresh decision after providing the assessee with a proper opportunity of being heard.

The Tribunal held that the CIT(A) erred in admitting additional evidence without following Rule 46A, which requires providing an opportunity to the AO for a remand report. Therefore, the matter was restored to the CIT(A) for fresh examination.

The Tribunal restored the issues to the file of the CIT(A) for fresh adjudication. The CIT(A) was directed to pass a speaking order after providing a reasonable opportunity of hearing to the assessee.

The Tribunal restored the issues to the CIT(A) for fresh adjudication, directing the CIT(A) to pass a speaking order after providing the assessee a reasonable opportunity of being heard.

The Tribunal held that Section 80AC of the Income-tax Act, 1961, mandates filing the return of income by the due date for claiming deductions under Section 80IC/80IE. Since the assessee filed a belated return and did not obtain any condonation from the CBDT, the deduction cannot be allowed.

The Tribunal set aside the ex-parte order of the CIT(A) due to lack of proper opportunity and no discussion on merits. The case was remitted back to the CIT(A) for a fresh decision after providing the assessee with a proper hearing and opportunity to submit documents.

The Tribunal allowed the assessee's request to withdraw the appeal. The appeal was dismissed as withdrawn, as per the assessee's decision to opt for the Vivad Se Vishwas Scheme.