ITAT Jodhpur Judgments — July 2018

The Tribunal dismissed the Revenue's appeal based on the CBDT Circular No. 3/2018 regarding low tax effect. The appeal was therefore not adjudicated on merits.

The Tribunal noted that the tax effect of the deleted addition was below Rs. 20 lacs. Therefore, in accordance with CBDT Circular No. 3/2018, the appeal was dismissed on the ground of low tax effect.

The Tribunal noted that the tax effect of the deleted additions was below Rs. 20 lacs. Therefore, in accordance with CBDT Circular No. 3/2018, the appeal was dismissed on the ground of low tax effect.

The Tribunal held that making a claim not sustainable in law does not automatically amount to furnishing inaccurate particulars or concealment of income, especially when there was full disclosure of facts. Following the Supreme Court's decision in Reliance Petro Products, the penalty was deemed not leviable.

The Tribunal held that the interest on loans taken for investment in the business should be allowed as a deduction. It also restricted the disallowance on various expenses to Rs. 5,000.

The Tribunal dismissed the Revenue's appeal, citing CBDT Circular No. 3/2018. The tax effect of the deleted additions was below Rs. 20 lakhs, making the appeal ineligible for further consideration.

The Tribunal dismissed the Revenue's appeal. This was primarily because the tax effect of the deleted additions was below Rs. 20 lacs, as per CBDT Circular No. 3/2018.

The Tribunal dismissed the revenue's appeal. This was based on the CBDT Circular No. 3/2018, which mandates dismissal of appeals with a tax effect below Rs. 20 lacs.

The Tribunal noted that the tax effect of the deleted addition was below the threshold specified in CBDT Circular No. 3/2018. Therefore, the appeal was dismissed on the ground of low tax effect.

The Tribunal dismissed the Revenue's appeal. The primary reason for dismissal was that the tax effect of the additions deleted by the CIT(A) was below Rs. 20 lacs, as per CBDT Circular No. 3/2018.

The Tribunal held that the difference in interest calculation, due to manual estimation and lack of year-wise bank certificates, did not constitute concealment of income. The assessee, being elderly and ignorant, had complied upon receiving notice and offered the correct income.

The Tribunal dismissed the Revenue's appeal. This was based on the low tax effect of the deleted additions, which fell below the threshold stipulated by CBDT Circular No. 3/2018.