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The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal held that the funds withdrawn by the assessee from Kasani Hotels and Resorts Pvt Ltd. were not its own funds but were received from the Amsri Group due to a business transaction between the assessee and his family members with Amsri Group. Therefore, Kasani group acted as a conduit, and the transaction was not a loan, making Section 2(22)(e) inapplicable.
The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal acknowledged the assessee's plea for a fresh opportunity to be heard, considering the issues involved. The matter was remitted back to the AO for de novo consideration, with a caution to the assessee to cooperate.
The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal held that the assessee's activity of cutting, dressing, and polishing granite amounts to manufacturing, entitling it to deductions under Section 10B. Additions related to foreign exchange fluctuation were upheld, and a sale of scrap issue was remanded for verification.
The Tribunal acknowledged that the assessee failed to appear before the lower authorities. However, in the interest of justice, the matter was remitted back to the AO for de novo consideration, granting one more opportunity to the assessee.
The Tribunal held that income from stock-in-trade is taxable only upon sale, not merely upon contribution to a development agreement. Anticipated profits from stock-in-trade are not taxable until realized, unlike capital gains.
The Tribunal found that the delay was not due to the assessee's fault and that the assessee had a reasonable case on merits. Therefore, the Tribunal directed the CIT(A) to condone the delay and decide the appeal on merits.
The Tribunal found merit in the Revenue's submission that the assessee had not appeared before the CIT(A) on several occasions, leading to an ex-parte order. However, in the interest of justice, the matter was remitted back to the CIT(A) for a fresh consideration.
The Tribunal found merit in the assessee's request for a fresh opportunity, considering the additional evidence filed. The matter was remitted back to the Assessing Officer for de novo consideration.
The Tribunal found merit in the Revenue's submission that the assessee failed to appear before the CIT(A) despite multiple opportunities. However, in the interest of justice, the matter was remitted back to the CIT(A) for a fresh hearing.
The ITAT found that the CIT(A) had dismissed the appeal in limine without providing a proper opportunity to be heard. Therefore, the ITAT remitted the matter back to the CIT(A) for a fresh decision.
The Tribunal found merit in the assessee's submission that an ex-parte order was passed. However, considering the revenue's contention that opportunities were missed, the matter was remitted back to the CIT(A) for a fresh consideration on merits, providing one more opportunity to the assessee.
The Tribunal, considering the penal nature of the demand and in the interest of justice, decided to remit the matter back to the Assessing Officer for fresh consideration. This was done to allow the assessee to furnish reasons for accepting the loan in cash.
The Tribunal condoned the delay in filing the appeal. While acknowledging that the lower authorities had provided multiple opportunities, the Tribunal, in the interest of justice, remitted the matter back to the AO for de novo consideration.
The Tribunal condoned the delay in filing the appeal. Considering the interest of justice and the assessee's prayer, the matter was remitted back to the CIT(A) for a fresh adjudication on merits, providing one more opportunity to the assessee.
The Tribunal found merit in the revenue's submission that the assessee was given several opportunities but did not appear. However, in the interest of justice, the matter was remitted back to the CIT(A) for a fresh hearing.
The Tribunal condoned the delay in filing the appeal due to the assessee's ill health. While acknowledging that the revenue authorities had passed ex-parte orders due to the assessee's non-appearance, the Tribunal, in the interest of justice, remitted the matter back to the AO for de novo consideration, providing one more opportunity to the assessee.
The Tribunal condoned the delay in filing the appeal before the CIT(A), finding that the reasons were beyond the assessee's control and not willful or wanton. The CIT(A) was directed to decide the appeal on its merits.
The Tribunal held that the expenditure paid towards the Special Purpose Vehicle was not punitive but a consequence of Supreme Court directions. It also found that the mine closure obligation was an ascertained liability, following its own previous decisions in the assessee's own cases.
The Tribunal noted that the assessee failed to provide documentary evidence before the lower authorities. However, since the assessee produced a commission register showing a 4% commission, the matter was remitted back to the AO for fresh consideration.
The Tribunal held that the appeal filed by the Revenue was not maintainable due to low tax effect, as per CBDT Circulars. The appeal was dismissed on this ground.