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148 orders · Page 2 of 3
The Tribunal held that a litigant must prosecute their appeal diligently. Since the assessee failed to do so, the appeal was dismissed for want of prosecution.
The Tribunal held that the appeal was not being prosecuted by the assessee, indicating a lack of interest. Therefore, the appeal was dismissed for non-prosecution.
The Tribunal noted the consistent absence of the assessee and their failure to file an adjournment petition. Following established precedents, the Tribunal dismissed the appeal for non-prosecution.
The Tribunal held that the lending of money by the group company to the assessee was in the ordinary course of business and constituted a substantial part of its business, thus falling under the exception to Section 2(22)(e). The Tribunal also found that the Assessing Officer failed to record the necessary satisfaction before applying Rule 8D for disallowance under Section 14A.
The Tribunal held that the CIT(A) had made baseless allegations and acted on surmise and suspicion without conducting proper inquiries. The Tribunal found the commodity transactions to be genuine and directed the deletion of the disallowances.
The Tribunal held that the reassessment proceedings were bad in law as there was no failure on the part of the assessee to disclose material facts, and the reopening was based on a mere change of opinion. Therefore, the notice under Section 148 was illegal.
The Tribunal restored the matter to the Assessing Officer to verify if the recipients had included the income in their returns and paid taxes. The assessee was directed to cooperate by providing recipient details.
The Tribunal found that the assessee had correctly reversed the provision for slow-moving stores and added it back to taxable income in earlier assessment years. Therefore, the claim for deduction in the current year was justified.
The Tribunal condoned the delay in filing the appeal before the CIT(A) and directed the CIT(A) to adjudicate the appeal on its merits. The appeal was allowed for statistical purposes.
The Tribunal held that filing the return of income on or before the due date is a mandatory pre-condition for claiming deductions under Section 80IB, as stipulated by Section 80AC. Since the assessee filed the return late, the deduction was rightly disallowed.
The Tribunal held that the AO should verify if Mr. Sisir Roy had already offered his share of profit to tax, as taxing it in the assessee's hands would lead to double taxation. Similarly, the AO needs to verify if the advance received was accounted for in a subsequent year.
The Tribunal restored the matter to the Assessing Officer for fresh adjudication in light of the amended provisions of Section 40(a)(ia) of the Act, allowing the assessee to provide details of recipients and their tax declarations.
The Tribunal held that the disallowance on account of hire charges and repairs was not justified as the assessee provided necessary identity proofs and the retrospective application of the proviso to Section 40(a)(ia) allowed for the deduction. The addition on account of balance sheet difference was also deleted.
The Tribunal held that the amount paid by the assessee on account of reversal of input VAT credit was actually VAT/CST payable for earlier years and was paid in the current year. Therefore, it was allowable as a deduction under Section 43B of the Income Tax Act.
The Tribunal held that the AO's orders imposing interest were passed beyond the time limit stipulated under Section 201(3) of the Income Tax Act, 1961. Therefore, the orders were reversed.
The Tribunal held that the disallowance on account of hire charges and repairs was not justified as the assessee provided necessary identity proofs and the retrospective application of the proviso to Section 40(a)(ia) allowed for the deduction. The addition on account of balance sheet difference was also deleted.
The Tribunal found that the CIT erred in revising the assessment. The assessee's detailed explanation and auditor's certificate demonstrated that sales were inclusive of excise duty and sales tax, and the figures for loans and advances were also correctly accounted for. Therefore, the assessment order was neither erroneous nor prejudicial to the revenue.
The Tribunal noted that the bank account had both cash withdrawals and deposits. It held that the peak credit of cash deposits should be assessed as income, not the entire deposit. The matter was restored to the AO for assessment based on peak computation.
The Tribunal found that the CIT(A)'s order was cryptic and did not examine the details. It decided to remit the matter back to the AO to examine the applicability of the second proviso to Section 40(a)(ia) and whether payments included freight.
The Tribunal dismissed the assessee's appeal in limine for want of prosecution. This was based on the assessee's failure to provide a correct address and their apparent lack of interest in pursuing the case.
The Tribunal held that the appeal filed by the Revenue was contrary to the CBDT's Circular No. 21/2015, which sets revised monetary limits for filing appeals. Therefore, the appeal was dismissed in limine.
The Tribunal found that the CIT(A) had acknowledged the medical certificates and the period of illness. The Tribunal condoned the delay, directing the CIT(A) to admit and adjudicate the appeal on merits.
The Tribunal noted that the tax effect was below the revised monetary limit of Rs. 10,00,000/- for filing appeals by the Revenue. Following CBDT Circular No. 21/2015, the appeal was treated as withdrawn.
The Tribunal allowed the appeal regarding the disallowance of payments for raw hides and skins, following its own precedent and finding that the purchases were from producers and covered under Rule 6DD(f). For labour charges, the matter was remanded to the AO to verify if the recipients had offered the income to tax, considering the retrospective amendment to Section 40(a)(ia).
The Tribunal confirmed the deletion of the addition made by the AO. It found that the assessee had provided sufficient evidence, including the company's trading account and communication between tax authorities, to prove the stock belonged to the company and not the assessee.
The Tribunal set aside the CIT(Appeals)'s orders and remitted the matters back. The CIT(Appeals) was directed to consider the appeals afresh after giving the assessee a proper opportunity to be heard regarding the limitation issue.
The Tribunal held that since the original addition was set aside, the penalty imposed in pursuance of that addition did not survive. Therefore, the penalty was liable to be cancelled.
The Tribunal upheld the CIT(Appeals)'s decision, allowing the deduction under Section 80IA for the captive power unit. This was based on previous decisions in the assessee's own case and CBDT instructions.
The Tribunal found that the bus was indeed transferred to Smt. Ashru Kana Jana for Rs. 4,20,000, and the deposit of Rs. 2,75,600 was explained. However, since the bus was transferred before the year-end, depreciation was rightly disallowed.
The Tribunal held that the issue of STT treatment was already decided by the CIT(Appeals), making it outside the scope of section 263 revision. The Tribunal also found no prejudice to revenue regarding the jobbing profit classification. However, the lack of inquiry into revised account figures was upheld.
The Tribunal held that the Commissioner's rejection based solely on the absence of a specific dissolution clause went beyond the scope of inquiry under section 12AA. The Tribunal directed the Commissioner to grant registration under section 12A and approval under section 80G.
The Tribunal held that the assessee is entitled to claim deduction under both Section 10A and Section 10B, as the conditions for both were met and the AO should have guided the assessee to the correct section. The impugned orders of the CIT(A) were upheld.
The Tribunal held that the assessee was granted 100% EOU status by the Ministry of Commerce and Industry for converting its existing Domestic Tariff Area (DTA) unit. The relocation was at the instance of the State Government, and the approval from the Development Commissioner was sufficient for claiming the deduction under Section 10B.
The Tribunal allowed the appeal regarding the disallowance of payments for raw hides and skins, following its own precedent and finding that the purchases were from producers and covered under Rule 6DD(f). For labour charges, the matter was remanded to the AO to verify if the recipients had offered the income to tax, considering the retrospective amendment to Section 40(a)(ia).
The Tribunal held that since the additional income offered and assessed was identical to the income returned by the assessee, no penalty under section 271(1)(c) was leviable, following a jurisdictional High Court decision.
The Tribunal held that the Assessing Officer must record satisfaction regarding the incorrectness of the assessee's disallowance before invoking Section 14A for a higher disallowance. In the absence of such satisfaction, the AO cannot make a further disallowance.
The Tribunal held that the CIT(A) does not have the power under Section 251 of the IT Act to remand the matter to the AO for verification. Therefore, the CIT(A)'s order was set aside.
The Tribunal held that once the AO estimated the income by applying a higher gross profit rate, making a separate disallowance on labour charges debited to the trading account amounted to a double addition. Therefore, the deletion of the addition by the CIT(Appeals) was upheld.
The Tribunal confirmed the CIT(A)'s order, finding that the CIT(A) had correctly correlated the bank deposits with the assessee's business receipts and cash rotation. The AO's remand report did not controvert the evidence presented by the assessee.
The Tribunal, following CBDT Circular No. 21/2015, treated the Revenue's appeals as withdrawn or not pressed. The circular mandated that appeals below the specified tax limit should be withdrawn or not pressed.
The Tribunal refused to condone the delay, citing the Supreme Court's decision in the Office of the Postmaster case. The Tribunal found the explanation for the delay to be insufficient and not demonstrating bona fide efforts.
The Tribunal noted the assessee's lack of diligence in prosecuting the appeal and their failure to provide a correct address. Citing legal principles and relevant case law, the Tribunal treated the appeal as unadmitted.
The Tribunal held that the assessee appeared to be not interested in prosecuting the matter and that the law aids the vigilant. Following established precedents, the appeal was dismissed for non-prosecution.
The Tribunal held that the appeal of the revenue deserved to be dismissed in limine due to low tax effect, as per CBDT Circular No. 21/2015. The revenue is bound by its own circulars.
The Tribunal noted that the tax effect was below the revised monetary limit of Rs. 10,00,000/- for filing appeals by the Revenue, as per CBDT Circular No. 21/2015. Following the CBDT instructions, the appeal was treated as withdrawn and dismissed.
The Tribunal noted that the tax effect was below the revised monetary limit set by the CBDT. Following the CBDT's instructions to withdraw or not press appeals below this limit, the Tribunal treated the Revenue's appeal as withdrawn and dismissed it.
The Tribunal held that the appeal of the revenue deserved to be dismissed in terms of low tax effect as per CBDT Circular No. 21/2015. The circular was binding on tax authorities and applied retrospectively to pending appeals.
The Tribunal held that the share trading loss incurred by the company is a deemed speculation loss as per the Explanation to Section 73, following the Hon'ble Calcutta High Court's decision. However, it also found the loss to be genuine based on the evidence presented.
The Tribunal held that the AO's addition was based on a false premise and lacked evidence. The CIT(A) had correctly deleted the addition, finding that the onus was on the AO to prove higher payments, which was not done. The Tribunal also dismissed grounds related to long-term capital loss and disallowance of telephone/motor car expenses.
The Tribunal held that the initiation of penalty proceedings was bad in law due to the lack of discernible satisfaction recorded by the Assessing Officer. Furthermore, it was held that penalties under section 271(1)(c) are leviable only on income assessed over and above the income returned under section 153A, which was not the case here.