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108 orders · Page 2 of 3
The Tribunal held that the Revenue's appeal should be dismissed in limine due to low tax effect, as it did not fall under any exceptions mentioned in the circular. Consequently, the assessee's cross-objection was also dismissed as infructuous.
The Tribunal noted that the assessee wished to withdraw the appeal as the demand had been resolved. The revenue's representative did not object to this request.
The Tribunal held that the appeal was not being prosecuted by the assessee. Citing judicial precedents, the Tribunal concluded that an appeal requires active pursuit, not just filing. Therefore, the appeal was dismissed for non-prosecution.
The Tribunal held that income from share sales should be treated as capital gains, especially since the Revenue had accepted this in a previous assessment year. Regarding Section 14A, the Tribunal found that the disallowance made by the CIT(A) was less than what the assessee had voluntarily disallowed, thus accepting the lower disallowance.
The Tribunal confirmed the deletion of bad debts and disallowed employee contributions, agreeing with the CIT(A). However, the issue regarding disallowance under Section 14A was remitted back to the AO for fresh examination.
The Tribunal confirmed the deletion of bad debts and disallowed employee contributions, finding merit in the assessee's submissions. The issue of Section 14A disallowance was remanded to the AO for fresh examination.
The Tribunal held that the AO's action of changing the assessee's status while processing the return under Section 143(1) was not permissible. Such a change does not fall under the permissible adjustments for an incorrect claim apparent from the return.
The Tribunal allowed the appeal for statistical purposes, directing the AO to examine the corrected cash book submitted by the assessee as additional evidence. The AO needs to compare it with the previously submitted cash book and then adjudicate the issue.
The tribunal restored the disallowance under Section 14A to the AO for fresh examination. It also held that the advance received by the assessee from the company was not a gratuitous transaction, following the jurisdictional High Court's decision, and thus allowed the appeal on this ground.
The Tribunal held that since the accumulated amount was not spent within the stipulated period as per section 11(2), it was rightly brought to tax. However, an additional ground regarding the rate of tax was set aside to the AO for fresh adjudication.
The Tribunal held that the disallowance of commission expenses was unsustainable. It noted that the assessee provided sufficient documentary evidence, including details of transactions, contracts, and TDS, and that the AO could have used summons to verify services if necessary. The allowance of similar expenses in a prior assessment year also supported the assessee's claim.
The Tribunal held that the training services did not constitute 'fees for technical services' and thus TDS was not required. For legal services, it was held that Article 14 (Independent Personal Services) of the India-China DTAA applied, not Article 12 (FTS), and since conditions for taxation in India were not met, TDS was not required.
The Tribunal held that the Rs. 19,32,000 shown as a bogus liability should be treated as the assessee's receipt. Since the assessee was a small trader potentially falling under Section 44AD, the income was estimated at 8.3% of this amount.
The Tribunal held that the appeal was not being prosecuted by the assessee. Citing various judicial precedents, the Tribunal concluded that an appeal requires effective pursuit, not just filing.
The Tribunal held that the security deposit was duly reflected in the assessee's books of accounts, either as a reduction in liability or an asset. Since the investment was recorded, the addition made by the AO was unwarranted.
The Tribunal found that the AO had not verified the claim of payments through banking channels. The CIT(A) also failed to verify the bank details submitted by the assessee.
The Tribunal found merit in the assessee's contention that it should be given another opportunity to produce supporting evidence for the payments. The matter was restored to the Assessing Officer for fresh adjudication.
The Tribunal found that the expenses debited in the profit and loss account had no direct nexus with earning tax-free income. The assessee's computation of disallowance was deemed just and proper.
The Tribunal held that the appeal was not maintainable as the tax effect was below the monetary limit prescribed by CBDT Circular No. 21/2015. The Circular is retrospective and applicable to pending appeals.
The Tribunal found that the CIT(Exemptions) had not sufficiently established the conditions for cancellation under Section 12AA(3). The Tribunal noted that the assessee was not given a proper opportunity to cross-examine the individuals whose statements were used against it.
The assessee's counsel sought permission to withdraw the appeal. The Departmental Representative had no objection. The Bench granted the permission and dismissed the appeal as withdrawn.
The Tribunal considered the assessee's conduct as a lack of serious interest in prosecuting the appeal. Applying the principle of vigilance, the appeal was treated as unadmitted.
The Tribunal held that the assessee was not interested in prosecuting the appeal due to repeated non-appearances. Therefore, the appeal was dismissed for non-prosecution.
The Tribunal held that the assessee was not interested in prosecuting the appeal as none appeared on their behalf. The appeal was dismissed for non-prosecution, citing relevant case law.
The Tribunal held that since the order cancelling the trust's registration under Section 12AA was quashed and the registration under Section 12A was restored, the assessee is entitled to exemption under Section 11. The revenue failed to provide any material to prove non-compliance with Sections 11 and 13.
The Tribunal held that the appeal filed by the Revenue was contrary to the CBDT's policy decision regarding monetary limits for filing appeals. Therefore, the appeal was dismissed in limine.
The Tribunal held that the appeal was to be dismissed in limine due to low tax effect, as the circular is binding on the revenue and the case did not fall under any exceptions.
The Tribunal held that the penalty notice was defective as it did not specify whether the penalty was for concealment of income or furnishing inaccurate particulars. Following the precedent set by the Karnataka High Court and upheld by the Supreme Court, the penalty was cancelled.
The Tribunal held that the assessee had discharged its onus by providing sufficient documentary evidence, including TDS certificates, bank statements, commission bills, and ledger accounts. The transaction was through account payee cheques, proving the identity and genuineness of the transaction.
The Tribunal held that the enhancement of assessment by the CIT(A) without providing an opportunity of being heard to the assessee violated natural justice. Therefore, the matter was remanded back to the CIT(A).
The Tribunal held that the cash payments made to agents for hiring trucks, where the agents were required to make immediate payments to truck owners, fell under the exception provided in Rule 6DD(k). Therefore, Section 40A(3) was not applicable.
The Tribunal held that the lower authorities erred in not appreciating the genuine typographical mistake made by the assessee, which resulted in an unreasonable tax liability. The revenue cannot take undue advantage of an assessee's mistake, and the assessment should reflect the real income.
The Tribunal held that the AO's inquiry into the genuineness of share capital and premium was inadequate, amounting to no inquiry at all. The CIT's order under Section 263 was therefore valid and proper.
The Tribunal held that the foreign exchange loss and finance costs were genuine business expenses incurred throughout the financial year, not post-search adjustments. Following Section 70(1) of the Income Tax Act, the Tribunal allowed the set-off of business losses against the disclosed business income.
The Tribunal held that the assessee's illness constituted a reasonable cause under Section 273B for not offering the interest income. Therefore, the penalty levied under Section 271(1)(c) was not sustainable.
The Tribunal held that the CIT's revisionary order under Section 263 was not justified. It found that no prejudice was caused to the interest of the revenue because the disallowance of the expenditure would only reduce the loss, which was already ineligible for carry forward. Therefore, the twin conditions for invoking Section 263 were not met.
The Tribunal held that the CIT erred in invoking revisionary jurisdiction under Section 263. The Assessing Officer had made inquiries and formed a view on the royalty payments, which the CIT could not revise without demonstrating the order was erroneous.
The Tribunal held that the penalty imposed was invalid because the show cause notices issued under Section 274 did not specify whether the charge was for concealment or furnishing inaccurate particulars of income. Therefore, the penalties were cancelled.
The Tribunal upheld the CIT(A)'s decision to delete the disallowance made by the AO. It followed precedents stating that disallowance under Rule 8D should only be computed on shares held as investments on which exempt dividend has been earned.
The Tribunal held that the CIT(A) erred in admitting fresh evidence without following Rule 46A and that the nature of payments and the related TDS deductions required examination by the Assessing Officer.
The Tribunal held that Section 50C is not applicable to properties held as stock-in-trade by a real estate business. It also noted that Section 43CA, which would be relevant, was introduced prospectively and thus not applicable for the assessment year in question.
The Tribunal held that the 'total income' for the purpose of Section 36(1)(viia)(c) must be computed after considering the set-off of brought forward losses as per the Act. However, it also found that an alternative claim under the proviso to Section 36(1)(viia)(c) deserved examination.
The tribunal held that interest under Section 234B is not applicable as the payer (CIL) had the primary obligation to deduct tax at source. However, interest under Section 220(2) was held to be leviable as the assessment orders were set aside for fresh consideration.
The Tribunal held that the penalty imposed under Section 271(1)(c) was unsustainable because the show cause notice issued by the Assessing Officer did not specify whether the charge was for concealment of particulars of income or furnishing inaccurate particulars of income. Following various High Court and Tribunal decisions, the penalty was directed to be cancelled.
The Tribunal held that the penalty imposed under Section 271(1)(c) was unsustainable because the show cause notice issued under Section 274 did not specify whether the charge was for concealment of income or furnishing inaccurate particulars of income. The penalty was directed to be cancelled.
The Tribunal held that the reasons provided by the assessee for the delay constituted a sufficient cause and ought to have been condoned by the CIT(A). The CIT(A) was directed to decide the appeal on merits.
The Tribunal held that the employees' contribution to PF & ESI, if paid on or before the due date of filing the return of income, should be allowed as a deduction, following the Calcutta High Court's decision.
The Tribunal held that the assessee's principal business was granting loans and advances, as evidenced by fund deployment, thus falling under an exception to Section 73. It also upheld the deletion of an addition made under Section 41(1) as the income was already taxed in a subsequent year.
The Tribunal directed the CIT(A) to re-examine the claims for prior period expenses after providing an opportunity for a hearing. For leave encashment, the AO was directed to follow the Supreme Court's decision on the constitutional validity of Section 43B(f). The claim for anticipated customer claims was partly allowed to the extent of actual payments made.
The Tribunal directed the AO to consider the actual interest earned as Rs. 68,99,280/-. However, it reversed the CIT(A)'s decision regarding the repayment of loans as application of income, restoring the AO's order.