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104 orders · Page 2 of 3
The Tribunal held that the disallowance of ESI/PF contributions was not sustainable due to recent legislative amendments and CBDT clarifications applying prospectively from April 1, 2021. The issue of short credit of TDS was restored to the assessing authority for verification.
The Tribunal held that the disallowance for AY 2012-13 was not sustainable as it was made without incriminating material and was a double addition. For AY 2014-15, the disallowance was deleted based on a co-ordinate bench decision and case law, as the assessee had not derived any exempt income.
The Tribunal upheld the deletion of disallowance under Section 14A, stating no exempt income was earned. For Section 68, the Tribunal partly allowed the Revenue's appeal, remanding the issue regarding Yashoda Energy Pvt. Ltd. to the AO for fresh adjudication.
The Tribunal restored the appeal to the file of the CIT(A) for deciding the grounds of appeal on merits. The CIT(A) was directed to provide a reasonable opportunity of being heard to the assessee.
The Tribunal acknowledged that cash accumulation could not be ruled out but noted the lack of evidence for prior returns. Consequently, the addition was restricted to Rs. 1,00,000 without setting a precedent.
The Tribunal found no clear statement from the assessee supporting the Revenue's claim and restored the issue to the Assessing Officer for fresh adjudication. The assessee was directed to provide all necessary details.
The tribunal allowed two of the appeals as the Section 153A assessments were quashed by a coordinate bench for lack of incriminating material. The third appeal was partly allowed for statistical purposes, with some issues restored to the Assessing Officer.
The tribunal allowed two of the appeals as the Section 153A assessments were quashed by a coordinate bench for lack of incriminating material. The third appeal was partly allowed for statistical purposes, with some issues restored to the Assessing Officer.
The Tribunal held that the Assessing Officer's satisfaction note was insufficient as it used the expression 'relates to' instead of 'belongs to' concerning the seized material at the time of the search. Therefore, the assessment under Section 153C was not sustainable.
The Tribunal held that the assessee cannot be considered an aggrieved party once its appeal was withdrawn and dismissed by the CIT(A). The assessee was advised to pursue other legal remedies if they wished to challenge the CIT(A)'s order.
The tribunal allowed two of the appeals as the Section 153A assessments were quashed by a coordinate bench for lack of incriminating material. The third appeal was partly allowed for statistical purposes, with some issues restored to the Assessing Officer.
The Tribunal upheld the CIT(A)'s decision, finding that the assessee had indeed added back the relevant amount to its income in AY 2010-11. Therefore, the AO's observation was incorrect, and the relief granted by the CIT(A) was justified.
The Tribunal found merit in the assessee's ground regarding agricultural income and restored it to the AO for fresh verification. For the Revenue's appeals concerning unexplained cash credits, the Tribunal found a violation of Rule 46A and restored the issue to the AO.
The Tribunal held that sales tax penalty is not an allowable expenditure under Section 37(1). It also decided to remit the issue of interest on delayed TDS remittance back to the AO for verification. The additional ground regarding Section 80IA deduction was admitted and remitted to the AO.
The Tribunal found merit in the assessee's ground regarding agricultural income and restored it to the AO for fresh verification. For the Revenue's appeals concerning unexplained cash credits, the Tribunal found a violation of Rule 46A and restored the issue to the AO.
The Tribunal found merit in the assessee's ground regarding agricultural income and restored it to the AO for fresh verification. For the Revenue's appeals concerning unexplained cash credits, the Tribunal found a violation of Rule 46A and restored the issue to the AO.
The Tribunal found merit in the assessee's ground regarding agricultural income and restored it to the AO for fresh verification. For the Revenue's appeals concerning unexplained cash credits, the Tribunal found a violation of Rule 46A and restored the issue to the AO.
The Tribunal found merit in the assessee's ground regarding agricultural income and restored it to the AO for fresh verification. For the Revenue's appeals concerning unexplained cash credits, the Tribunal found a violation of Rule 46A and restored the issue to the AO.
The Tribunal found merit in the assessee's ground regarding agricultural income and restored it to the AO for fresh verification. For the Revenue's appeals concerning unexplained cash credits, the Tribunal found a violation of Rule 46A and restored the issue to the AO.
The Tribunal found merit in the assessee's ground regarding agricultural income and restored it to the AO for fresh verification. For the Revenue's appeals concerning unexplained cash credits, the Tribunal found a violation of Rule 46A and restored the issue to the AO.
The Tribunal noted that the original assessment involved the audit objection, but the current assessment was framed under Section 263 revision directions. Therefore, the tax effect was considered to be Rs. 50 lakhs as per the latest CBDT circular.
The tribunal condoned the delay in filing the appeal. It held that the entity-level margin computation for ALP adjustment was incorrect and restored the issue to the TPO for fresh adjudication. The ALP adjustment on receivables was deleted in principle, with liberty to the TPO to verify facts.
The Tribunal condoned the delay, acknowledging the pandemic's impact. It noted that the lower authorities failed to consider the assessee's business income and turnover reconciliation against the cash deposits.
The Tribunal held that the Assessing Officer's satisfaction note for initiating proceedings under Section 153C was not recorded in the prescribed manner. Furthermore, the seized material only 'related to' the assessee, not 'belonged to' as required by the law at the time of the search.
The Tribunal held that the PCIT erred in assuming revision jurisdiction under Section 263. The administrative expenses were considered compulsory office expenditure eligible for set-off, and the financial costs and depreciation were also found to be allowable. The assessment was not erroneous or prejudicial to the revenue.
The Tribunal held that even if a company has temporarily suspended business operations due to adverse conditions and is attempting to revive, depreciation is allowable if the assets are kept ready for use. The Tribunal followed the precedent that passive use of assets, where the business is not permanently closed, qualifies for depreciation.
The Tribunal found the assessee's plea to be without merit. It held that estimations of income cannot be treated as binding precedents if they do not consider all relevant facts, including state excise law and policy defining retail margins.
The Tribunal held that the disallowance was not sustainable. This was based on the legislative amendment and CBDT clarification that the provisions regarding disallowance of employee's contribution to ESI/PF were applicable prospectively from April 1, 2021.
The Tribunal decided to dismiss the appeal as withdrawn, noting that the assessee had opted for the Vivad-se-Vishwas Scheme. The assessee was permitted to seek revival of the case if the settlement benefit was denied for technical reasons.
The Tribunal held that entering into a joint development agreement signifies the commencement of a real estate business. Therefore, the expenses incurred towards legal, professional, and consultancy charges are allowable as revenue expenditure.
The Tribunal held that the disallowance was not sustainable. This was based on legislative amendments and CBDT clarifications which indicated that the disallowance provisions would apply prospectively from April 1, 2021.
The Tribunal held that the PCIT erred in assuming revision jurisdiction under Section 263. The administrative expenses were considered compulsory office expenditure eligible for set-off, and the financial costs and depreciation were also found to be allowable. The assessment was not erroneous or prejudicial to the revenue.
The Tribunal held that the failure of the Assessing Officer to specify in the penalty show cause notice whether the assessee had concealed income or furnished inaccurate particulars renders the penalty proceedings invalid. Consequently, the impugned penalty was deleted on this ground.
The ITAT restored the matter to the file of the first appellate authority (CIT(A)) to decide the appeal on merits after affording a reasonable opportunity of being heard to the assessee.
The ITAT held that the CIT(A) erred in dismissing the assessee's appeal as not maintainable. The Tribunal directed the CIT(A) to decide the appeal on merits after providing a hearing.
The Tribunal agreed that the outcome of the pending assessments of the benami firms would impact the assessee's case. Therefore, the matter was remitted back to the Assessing Officer for a fresh decision.
The Tribunal, following a previous decision, remitted the matter back to the Assessing Officer. This allows the assessee an opportunity to compute the actual expenditure incurred for earning exempt income and for the AO to verify and decide accordingly.
The Tribunal deleted the penalty because the Assessing Officer's show cause notice failed to specify whether the assessee concealed particulars of income or furnished inaccurate particulars. This failure renders the penalty unsustainable in law.
The Tribunal found that the CIT(A) had erred by remitting the matter back to the AO without following the proper procedure. Therefore, the Tribunal remitted the entire matter back to the AO for fresh consideration.
The Tribunal condoned the delay in filing the appeal due to the reasons provided by the assessee. However, considering the assessee's failure to appear before the lower authorities, the Tribunal remitted the issues back to the AO for fresh consideration, granting one more opportunity to the assessee to be heard.
The Tribunal found that the assessee, being a state-funded university, was not aware of the requirement to file returns prior to certain amendments. Considering the similarity to a previous case, the issue was remanded to the CIT(E) for reconsideration.
The Tribunal held that the rental income should be assessed under the head 'income from house property' and not 'income from business'. It relied on various High Court and Supreme Court decisions to determine that the assessee's activities did not constitute a systematic and organized commercial exploitation of property.
The Tribunal, following a previous decision, remitted the matter back to the Assessing Officer. This allows the assessee an opportunity to compute the actual expenditure incurred for earning exempt income and for the AO to verify and decide accordingly.
The Tribunal held that the disallowance of ESI/PF contributions was not sustainable. This was based on the legislative amendments and CBDT clarification that these changes apply prospectively from April 1, 2021.
The Tribunal found merit in the Revenue's submission that the assessee failed to appear before the CIT(A) on multiple 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 hearing.
The Tribunal found no merit in the Revenue's appeal. It noted that the CIT(A) had correctly considered the evidence provided by the assessee, including banking channel entries and confirmations, for the credits in question.
The Tribunal decided to remit the matter back to the Assessing Officer for de novo consideration. This was done to ensure consistency with the disposal of other interconnected appeals and in the interest of justice.
The Tribunal held that foreign taxes withheld abroad, for which no foreign tax credit is admissible, are not deductible as business expenditure under Section 37(1) of the Act. It also found that specific provisions for foreign tax credit prevail over general provisions for business expenditure.
The Tribunal held that the Revenue cannot be an aggrieved party when the Assessing Officer files a favorable remand report before the CIT(A). The Tribunal affirmed the CIT(A)'s findings deleting the impugned addition.
The Tribunal upheld the CIT(A)'s order, stating that Section 14A read with Rule 8D applies only in relation to an assessee's exempt income. As the assessee had not derived any exempt income in the relevant previous year, the disallowance was deleted.