ITAT Jaipur Judgments — September 2019

The Tribunal noted that the tax effect in the appeal did not exceed the revised monetary limit for filing appeals by the department. Therefore, the appeal was not maintainable.

The Tribunal found that the approval for the gratuity scheme was granted by the Pr. CIT effective from 01.10.2018, which was subsequent to the assessment year. The matter was set aside to the Assessing Officer to verify the effective date of approval and decide accordingly.

The Tribunal held that ad-hoc disallowances without specific findings of non-business use or bogus nature are not sustainable. Mere cash payment, within legal limits, does not automatically render an expense non-genuine.

The Tribunal noted that the tax effect did not exceed the revised monetary limit of Rs. 50,00,000/- for filing appeals by the department. Therefore, the appeal was not maintainable.

The Tribunal agreed that the physical stock was less than the book stock, confirming an addition based on the gross profit rate. However, it adjusted the addition amount based on the accepted difference.

The Tribunal noted that the tax effect in the appeals did not exceed the revised monetary limit of Rs. 50,00,000/- for filing appeals by the department. Therefore, the appeals were not maintainable.

The Tribunal admitted the additional evidence, stating that substantial justice should prevail over procedural aspects. The matter was remanded back to the Assessing Officer to examine these evidences.

The Tribunal held that the Department's appeal was not maintainable as the tax effect did not exceed the monetary limit prescribed by the CBDT circular. Consequently, both the appeal and cross-objection were dismissed as infructuous.