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297 orders · Page 3 of 6
The Tribunal held that the CIT(A) erred in allowing the assessee to adjust unabsorbed depreciation in computing book profit under Section 115JB. The provisions of Section 115JB are unambiguous regarding the treatment of unabsorbed depreciation.
The Tribunal held that the CIT(A) erred in allowing the assessee to adjust unabsorbed depreciation in computing book profit under Section 115JB. The provisions of Section 115JB are unambiguous regarding the treatment of unabsorbed depreciation.
The Tribunal held that the CIT(A) erred in allowing the assessee to adjust unabsorbed depreciation in computing book profit under Section 115JB. The provisions of Section 115JB are unambiguous regarding the treatment of unabsorbed depreciation.
The Tribunal held that the CIT(A) erred in allowing the assessee to adjust unabsorbed depreciation in computing book profit under Section 115JB. The provisions of Section 115JB are unambiguous regarding the treatment of unabsorbed depreciation.
The Tribunal held that the CIT(A) erred in allowing the assessee to adjust unabsorbed depreciation in computing book profit under Section 115JB. The provisions of Section 115JB are unambiguous regarding the treatment of unabsorbed depreciation.
The Tribunal held that the CIT(A) erred in allowing the assessee to adjust unabsorbed depreciation in computing book profit under Section 115JB. The provisions of Section 115JB are unambiguous regarding the treatment of unabsorbed depreciation.
The Tribunal held that the CIT(A) erred in allowing the assessee to adjust unabsorbed depreciation in computing book profit under Section 115JB. The provisions of Section 115JB are unambiguous regarding the treatment of unabsorbed depreciation.
The Tribunal held that 'sawn timber' is distinct from 'timber' and that the process of sawing creates a new commodity. Therefore, the provisions of Section 206C regarding TCS on timber were not applicable to the sale of sawn timber.
The Tribunal condoned the delay in adopting the correct transfer pricing approach due to prior legal advice. The matter was set aside to re-adjudicate the transfer pricing adjustments after considering the additional evidence submitted by the assessee.
The Tribunal held that 'sawn timber' is distinct from 'timber' and that the process of sawing creates a new commodity. Therefore, the provisions of Section 206C regarding TCS on timber were not applicable to the sale of sawn timber.
The Tribunal held that 'sawn timber' is distinct from 'timber' and the process of sawing creates a new commodity. Therefore, the provisions of Section 206C are not applicable to the sale of sawn timber.
The Tribunal dismissed the Revenue's grounds concerning the existence of international transactions for AMP expenses, the exclusion/inclusion of comparables, lease rentals, and loan waivers. The assessee's appeal was partly allowed for statistical purposes.
The Tribunal set aside the CIT(A)'s order and remitted the matter back to the Assessing Officer. The AO was directed to consider the fresh details to be filed by the assessee and verify the latest TRACES statement to decide the issue afresh.
The Tribunal upheld the CIT(A)'s view that only a profit on suppressed sales should be added, not the entire turnover. However, it reversed the CIT(A)'s decision on sales tax, holding that the entire un-deposited sales tax collected from customers should be treated as income.
The Tribunal held that the addition made by the AO could not be sustained as the seized document showed inflated expenses much higher than those claimed in the audited profit and loss account. The AO did not provide any other evidence to support the addition.
The Tribunal held that the assessee was not granted sufficient opportunity to prove the identity, genuineness, and creditworthiness of the shareholders. Citing the Supreme Court's decision in Tin Box Company, the Tribunal found that the assessment order was made without a reasonable opportunity for the assessee to present its case.
The Tribunal upheld the CIT(A)'s order, stating that the AO made the addition based on a superficial comparison of figures without proper analysis. The Tribunal found no infirmity in the CIT(A)'s deletion of both the unexplained investment and unexplained income additions.
The Tribunal held that since the AO estimated the income and the CIT(A) further reduced this estimation, it was not a fit case to impose a penalty under Section 271(1)(c). The Tribunal found no infirmity in the CIT(A)'s order.
The Tribunal held that appellate authorities can allow claims not made in the original return if the assessee is otherwise entitled. Regarding Section 234D, the Tribunal found that interest was rightly charged as proceedings were completed after the section's effective date, reversing the CIT(A)'s decision.
The Tribunal held that the assessee was not granted a sufficient opportunity to present its evidence before the AO. Therefore, the matter was remanded back to the AO for a fresh assessment.
The Tribunal, in the interest of justice and natural justice, set aside the order of the CIT(A) and restored the matter for fresh adjudication. The assessee was directed to provide necessary details to the CIT(A).
The Tribunal held that the amendment to Section 32(2) of the Income Tax Act, effective from April 1, 2002, allows unabsorbed depreciation to be carried forward indefinitely. Therefore, the unabsorbed depreciation from earlier years could be set off against the income of assessment year 2009-10.
The Tribunal dismissed the Revenue's grounds concerning the existence of international transactions for AMP expenses, the exclusion/inclusion of comparables, lease rentals, and loan waivers. The assessee's appeal was partly allowed for statistical purposes.
The Tribunal found that while some disallowance was justified, the percentages made by the AO and confirmed by the CIT(A) were on the higher side. Therefore, the disallowance for travel and conveyance expenses was reduced from 20% to 10%, and for office expenses from 10% to 5%.
The Tribunal noted that the tax effect was below the threshold for filing appeals as per CBDT circular. Since the Revenue could not point out any exceptions or defects, the appeal was dismissed in limine.
The Tribunal held that the assessee was required to file separate appeals for each quarter, and a consolidated appeal was not maintainable. Therefore, the appeal was dismissed in limine.
The Tribunal found that the AO's disallowance was based on the failure to produce supplier representatives, and the CIT(A) relied heavily on statements from third parties. The Tribunal analyzed the modus operandi and found the assessee's explanation plausible, leading to the deletion of additions.
The Tribunal found that the AO's disallowance was based on the failure to produce supplier representatives, and the CIT(A) relied heavily on statements from third parties. The Tribunal analyzed the modus operandi and found the assessee's explanation plausible, leading to the deletion of additions.
The Tribunal found that the AO's disallowance was based on the failure to produce supplier representatives, and the CIT(A) relied heavily on statements from third parties. The Tribunal analyzed the modus operandi and found the assessee's explanation plausible, leading to the deletion of additions.
The Tribunal found that the AO's disallowance was based on the failure to produce supplier representatives, and the CIT(A) relied heavily on statements from third parties. The Tribunal analyzed the modus operandi and found the assessee's explanation plausible, leading to the deletion of additions.
The Tribunal found that the CIT(A) passed an ex-parte order without considering the assessee's submissions, violating principles of natural justice. The case was restored to the CIT(A) for fresh adjudication.
The Tribunal held that interest expense and income in the business of money lending are intrinsically linked and should be considered on a net basis. Since the assessee had already suo motu disallowed the net interest expenditure, no further disallowance under Section 14A was warranted.
The Tribunal found that the assessee was prevented by sufficient cause from appearing before the CIT(A) and that the Assessing Officer had not granted sufficient opportunity. Therefore, the appeal was set aside for fresh adjudication.
The Tribunal upheld the CIT(A)'s decision to delete the additions. It found that the AO's disallowances were arbitrary and based on conjecture, especially since the assessee had provided substantial documentation and the business nature involved cash payments to unskilled laborers.
The Tribunal held that the CIT(A) erred in allowing the assessee to adjust unabsorbed depreciation in computing book profit under Section 115JB. The provisions of Section 115JB are unambiguous regarding the treatment of unabsorbed depreciation.
The Tribunal held that the revisionary power under section 263 is barred by limitation for issues not forming part of the reassessment, as the limitation period should be reckoned from the date of the original assessment order.
The Tribunal held that the Principal CIT erred in passing the Section 263 order without providing specific findings on the assessee's submissions and without putting the assessee on notice regarding the alleged lack of inquiry. The order was quashed as being without jurisdiction.
The Tribunal, citing the principle that law assists the vigilant, treated the appeal as unadmitted and dismissed it for non-prosecution. This decision was based on the assessee's conduct and relevant ITAT Rules.
The Tribunal restored the issue of leave encashment provision to the AO to await the Supreme Court's decision. The claim for gratuity premium was allowed following a previous order in the assessee's own case. The claim for amortization of the boundary wall was dismissed as capital in nature.
The Tribunal held that the AO's order was not erroneous or prejudicial to the revenue. The AO had considered the sales to be genuine and reasonably estimated the profit suppression, and the PCIT's invocation of Section 263 was not justified.
The Tribunal held that the penalty under Section 271(1)(c) was unsustainable due to a defective show cause notice that did not specify the exact charge. For the penalty under Section 271(1)(d), the Tribunal found that the assessee was not given an opportunity to be heard and remanded the matter.
The Tribunal upheld the CIT(A)'s order cancelling the penalties. This was based on a prior Tribunal decision that the assessee was not liable for TDS under Section 194J as there was no payment for services, but rather a transfer of rights and revenue sharing.
The Tribunal upheld the CIT(A)'s order cancelling the penalties. This was based on a prior Tribunal decision that the assessee was not liable for TDS under Section 194J as there was no payment for services, but rather a transfer of rights and revenue sharing.
The Tribunal held that medical reimbursement up to Rs. 15,000 per employee, as per Section 17(2)(v), is not liable for FBT. Regarding Section 14A, the Tribunal found that the AO and CIT(A) failed to record the necessary satisfaction for invoking Rule 8D, thus directing deletion of the disallowance.
The Tribunal held that medical reimbursement up to Rs. 15,000 per employee, as per Section 17(2)(v), is not liable for FBT. Regarding Section 14A, the Tribunal found that the AO and CIT(A) failed to record the necessary satisfaction for invoking Rule 8D, thus directing deletion of the disallowance.
The Tribunal held that medical reimbursement up to Rs. 15,000 per employee, as per Section 17(2)(v), is not liable for FBT. Regarding Section 14A, the Tribunal found that the AO and CIT(A) failed to record the necessary satisfaction for invoking Rule 8D, thus directing deletion of the disallowance.
The Tribunal held that medical reimbursement up to Rs. 15,000 per employee, as per Section 17(2)(v), is not liable for FBT. Regarding Section 14A, the Tribunal found that the AO and CIT(A) failed to record the necessary satisfaction for invoking Rule 8D, thus directing deletion of the disallowance.
The Tribunal held that medical reimbursement up to Rs. 15,000 per employee, as per Section 17(2)(v), is not liable for FBT. Regarding Section 14A, the Tribunal found that the AO and CIT(A) failed to record the necessary satisfaction for invoking Rule 8D, thus directing deletion of the disallowance.