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129 orders · Page 2 of 3
The Tribunal held that the Assessing Officer and the learned CIT(A) ought to have kept the proceedings in abeyance or independently ascertained the fair market value of the property by referring to the DVO, given the ongoing dispute between the assessee and the stamp duty authorities regarding the fair market value. The Tribunal noted that there was no dispute regarding the fact that a difference existed between the sale deed consideration and the stamp duty value, which exceeded the prescribed limit under Section 56(2)(x). However, the assessee admitted the stamp duty value as fixed by the authorities, and the sole dispute pertained to the ongoing litigation on the fair market value. Since the learned CIT(A) dismissed the assessee's objection without ascertaining the correct fair market value and despite being aware of the pending litigation, the Tribunal set aside the order of the learned CIT(A) and restored the issue to the file of the Assessing Officer for fresh consideration. The Assessing Officer was directed to reconsider the issue after examining the details provided by the assessee and the pending litigation, and also to independently ascertain the fair market value.
The Tribunal noted that the assessee had provided evidence of a housing loan and construction permission. Therefore, the matter was remitted back to the Assessing Officer for re-examination of the evidence and to provide an opportunity of hearing to the assessee.
The Tribunal found that the CIT(E) rejected the application without considering the submissions made by the assessee. Therefore, the Tribunal set aside the CIT(E)'s order and restored the application for fresh consideration.
The Tribunal held that retention money should be included as contract revenue for Section 80-IA deduction, especially after the introduction of Section 43CB. The Tribunal also noted that the issue was decided in favour of the assessee in a previous assessment year.
The Tribunal held that the issue of the validity of the penalty notice, raised by the assessee, needed to be decided by the CIT(A). Therefore, the appeals were set aside and restored to the CIT(A) for fresh adjudication.
The Tribunal held that the CIT(A) had exceeded his jurisdiction by commenting on issues not before him. It also directed the Assessing Officer to tax only the surplus/profit and not the gross receipts if exemption is ultimately denied, as the assessee should be assessed as an AOP.
The Tribunal held that the CIT(A) had exceeded his jurisdiction by commenting on issues not before him. It also directed the Assessing Officer to tax only the surplus/profit and not the gross receipts if exemption is ultimately denied, as the assessee should be assessed as an AOP.
The Tribunal held that the CIT(A) had exceeded his jurisdiction by commenting on issues not before him. It also directed the Assessing Officer to tax only the surplus/profit and not the gross receipts if exemption is ultimately denied, as the assessee should be assessed as an AOP.
The Tribunal held that the CIT(A) had exceeded his jurisdiction by commenting on issues not before him. It also directed the Assessing Officer to tax only the surplus/profit and not the gross receipts if exemption is ultimately denied, as the assessee should be assessed as an AOP.
The Tribunal held that the CIT(A) had exceeded his jurisdiction by commenting on issues not before him. It also directed the Assessing Officer to tax only the surplus/profit and not the gross receipts if exemption is ultimately denied, as the assessee should be assessed as an AOP.
The Tribunal held that since the second assessment order was not challenged by the assessee and had attained finality, the AO was correct in using the income determined in that order. The CIT(A)'s direction to use the income from the first order was deemed erroneous.
The Tribunal held that the CIT(A) had exceeded his jurisdiction by commenting on issues not before him. It also directed the Assessing Officer to tax only the surplus/profit and not the gross receipts if exemption is ultimately denied, as the assessee should be assessed as an AOP.
The Tribunal held that reopening the assessment beyond 4 years was bad in law as the Assessing Officer relied on the same material already provided during the original assessment, without any allegation of failure to disclose material facts. Therefore, the reassessment order was quashed.
The Tribunal found that the assessee claimed non-receipt of notices from CIT(A) and requested an opportunity to present evidence. Therefore, the Tribunal set aside the CIT(A)'s order and restored the issue for fresh consideration.
The Tribunal held that the assessee had provided all necessary details and evidence to justify the source of cash deposits, including names of debtors, dates of advances, interest received, and dates of realization. Since the revenue authorities did not find any discrepancies or verify these details, the addition was deleted.
The Tribunal allowed the appeals for statistical purposes, remanding the matter back to the CIT(A). The assessee was directed to pay costs to the Prime Minister National Relief Fund and was granted a fresh opportunity to present their case and submit documents.
The Tribunal allowed the appeals for statistical purposes, remanding the matter back to the CIT(A). The assessee was directed to pay costs to the Prime Minister National Relief Fund and was granted a fresh opportunity to present their case and submit documents.
The Tribunal dismissed the appeal filed by the Revenue as not maintainable. This decision was based on CBDT Circular No. 09 of 2024, which revised the monetary limit for filing appeals before the Tribunal to Rs. 60,00,000, and the tax effect in this case was below that limit.
The Tribunal held that the Assessing Officer erred in treating the cash deposit as unexplained. The CIT(A) had rightly deleted the addition, finding that the cash deposit was explained by cash in hand supported by sales, and the AO's reliance on human probability was misplaced.
The Tribunal held that while the CIT(A) has the power to change the section, they must issue a show-cause notice to the assessee before doing so. Since this was not done, the matter is remanded back to the CIT(A).
The Tribunal allowed the appeals for statistical purposes, remanding the matter back to the CIT(A). The assessee was directed to pay costs to the Prime Minister National Relief Fund and was granted a fresh opportunity to present their case and submit documents.
The Tribunal noted that the lower appellate authority failed to consider the relevant CBDT circular. Therefore, the case was remanded back to the lower appellate authority to verify the applicability of the circular and pass a fresh order.
The Tribunal held that CBDT Circular No. 1916/1994 is applicable not only for non-seizure but also for explaining the source of jewellery. Therefore, the addition made by the Assessing Officer was deleted.
The Tribunal held that the CIT(A) dismissed the appeal without considering the merits and the documents produced, violating the principles of natural justice. Therefore, the case was set aside to the AO for fresh consideration.
The Tribunal, considering the assessee's cooperative society status and the ends of justice, decided to provide a final opportunity. The impugned orders were set aside, and the issue was restored to the Assessing Officer for fresh adjudication.
The Tribunal held that while the CIT(A) has the power to change the section, they must issue a show-cause notice to the assessee before doing so. Since this was not done, the matter is remanded back to the CIT(A).
The Tribunal dismissed the appeal as not pressed/not maintainable, citing a CBDT circular that sets a monetary limit for revenue appeals. The issues raised were left open for future proceedings.
The Tribunal, considering the assessee's cooperative society status and the ends of justice, decided to provide a final opportunity. The impugned orders were set aside, and the issue was restored to the Assessing Officer for fresh adjudication.
The Tribunal held that while the CIT(A) has the power to change the section, they must issue a show-cause notice to the assessee before doing so. Since this was not done, the matter is remanded back to the CIT(A).
The Tribunal allowed the appeals for statistical purposes, remanding the matter back to the CIT(A). The assessee was directed to pay costs to the Prime Minister National Relief Fund and was granted a fresh opportunity to present their case and submit documents.
The Tribunal allowed the appeals for statistical purposes, remanding the matter back to the CIT(A). The assessee was directed to pay costs to the Prime Minister National Relief Fund and was granted a fresh opportunity to present their case and submit documents.
The Tribunal held that filing of the audit report is directory, not mandatory. Since the report was filed before the assessment order and the assessee provided a valid reason (technical glitches), the claim for deduction under Section 80IAB should be allowed.
The Income Tax Appellate Tribunal (ITAT) allowed the assessee to withdraw the appeals. The tribunal dismissed all seven appeals as withdrawn based on the assessee's request.
The Income Tax Appellate Tribunal (ITAT) allowed the assessee to withdraw the appeals. The tribunal dismissed all seven appeals as withdrawn based on the assessee's request.
The Income Tax Appellate Tribunal (ITAT) allowed the assessee to withdraw the appeals. The tribunal dismissed all seven appeals as withdrawn based on the assessee's request.
The Income Tax Appellate Tribunal (ITAT) allowed the assessee to withdraw the appeals. The tribunal dismissed all seven appeals as withdrawn based on the assessee's request.
The Tribunal condoned the delay in filing appeals due to the assessees' medical condition and lack of knowledge of the CIT(A) order. The matter was remanded to the Assessing Officer for fresh adjudication after the assessees provide explanations and supporting evidence for the bank deposits.
The Income Tax Appellate Tribunal (ITAT) allowed the assessee to withdraw the appeals. The tribunal dismissed all seven appeals as withdrawn based on the assessee's request.
The Income Tax Appellate Tribunal (ITAT) allowed the assessee to withdraw the appeals. The tribunal dismissed all seven appeals as withdrawn based on the assessee's request.
The Income Tax Appellate Tribunal (ITAT) allowed the assessee to withdraw the appeals. The tribunal dismissed all seven appeals as withdrawn based on the assessee's request.
The Tribunal held that the difference in deposits represented transactions of the new licensee. The Assessing Officer was directed to verify this claim and, if applicable, tax only the net profit on the differential amount, not the entire sum.
The Tribunal clarified that the Rs. 10,12,000/- was a duplication of entries and part of the total Rs. 19,20,800/- cash deposit. The Assessing Officer is required to examine only the total cash deposit of Rs. 19,20,800/-.
The Tribunal held that the obligation to pay advance tax is triggered only when there is a taxable income. Since the assessee claimed no taxable income due to the mutuality principle, the CIT(A) erred in invoking Section 249(4)(b). The appeal was restored to the CIT(A) for fresh adjudication.
The Tribunal held that the CIT(A) failed to satisfy himself regarding the creditworthiness, genuineness, and identity of creditors, which is a duty cast upon him. Therefore, the matter was remanded back to the CIT(A) for further inquiry.
The Tribunal condoned the delay in filing appeals due to the assessees' medical condition and lack of knowledge of the CIT(A) order. The matter was remanded to the Assessing Officer for fresh adjudication after the assessees provide explanations and supporting evidence for the bank deposits.
The Tribunal condoned the delay in filing the appeal due to the assessee's personal circumstances. It set aside the CIT(A)'s order and restored the issue to the AO for fresh consideration, providing the assessee another opportunity to be heard.
The Tribunal held that payments made by the appellant company to recipient companies did not fall under Section 2(22)(e) as the funds were used for the recipient companies' business and not for the benefit of the common shareholder. The deduction for expenses against unaccounted receipts was partly allowed by the CIT(A).
The Tribunal held that the addition for unexplained investment in film financing should be restricted to the income earned, not the entire amount. It also directed that the addition for cash found should be sustained only to the extent of unexplained cash. The addition for jewellery was deleted as it was within prescribed limits and explained by the assessee.
The Tribunal held that the addition for unexplained investment in film financing should be restricted to the income earned, not the entire amount. It also directed that the addition for cash found should be sustained only to the extent of unexplained cash. The addition for jewellery was deleted as it was within prescribed limits and explained by the assessee.
The Tribunal held that payments made by the appellant company to recipient companies did not fall under Section 2(22)(e) as the funds were used for business purposes and not for the benefit of the common shareholder. The addition towards deemed dividend and consequent dividend distribution tax were deleted.