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297 orders · Page 3 of 6
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal upheld the CIT(A)'s decision to allow nursery expenses, finding them to be revenue in nature and incidental to the business. The Tribunal also confirmed the deletion of notional interest on the loan to the sister concern, as it represented transferred project expenditure. However, the issue of sundry receipts in the tea division was remanded back to the AO for fresh adjudication.
The Tribunal upheld the CIT(A)'s decision to allow nursery expenses, finding them to be revenue in nature and incidental to the business. The Tribunal also confirmed the deletion of notional interest on the loan to the sister concern, as it represented transferred project expenditure. However, the issue of sundry receipts in the tea division was remanded back to the AO for fresh adjudication.
The Tribunal upheld the CIT(A)'s decision to allow nursery expenses, finding them to be revenue in nature and incidental to the business. The Tribunal also confirmed the deletion of notional interest on the loan to the sister concern, as it represented transferred project expenditure. However, the issue of sundry receipts in the tea division was remanded back to the AO for fresh adjudication.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal held that the reassessments were indeed time-barred as they were framed beyond the statutory period prescribed under Section 153 of the Act, even after considering the exclusion for exchange of information.
The Tribunal held that the reassessments were indeed time-barred as they were framed beyond the statutory period prescribed under Section 153 of the Act, even after considering the exclusion for exchange of information.
The Tribunal held that the assessee was eligible for deduction under Section 10A, even though it was initially claimed under Section 10B. The CIT(A)'s decision to allow the claim under Section 10A was upheld.
The Tribunal upheld the CIT(A)'s decision to allow nursery expenses, finding them to be revenue in nature and incidental to the business. The Tribunal also confirmed the deletion of notional interest on the loan to the sister concern, as it represented transferred project expenditure. However, the issue of sundry receipts in the tea division was remanded back to the AO for fresh adjudication.
The Tribunal found no basis for the restrictions imposed by the CIT(A). It held that the quantification of inherited gold and the partial acceptance of the gift were arbitrary and made on conjectures.
The Tribunal condoned the delay in filing the appeals. As per CBDT Circular No. 3/2018, the appeals were dismissed because the tax effect was below the prescribed monetary limit.
The Tribunal held that the Assessing Officer cannot accept only gains and reject losses from derivative trading. It also held that no disallowance under Section 14A is maintainable when there is no exempt income earned by the assessee.
The Tribunal found that the CIT(A) passed an ex parte order without adjudicating the merits of the case. Consequently, the Tribunal set aside the CIT(A)'s order and restored the appeal to the CIT(A)'s file for fresh adjudication.
The Tribunal found the reasons for the absence before the CIT(A) to be bonafide. Therefore, the matter was remanded to the CIT(A) for fresh adjudication.
The Tribunal noted that the assessee did not produce the directors of the share subscribing companies before the authorities. Considering the facts, the Tribunal decided to remand the matter back to the Assessing Officer for fresh verification of the details of the share subscribing companies.
The Tribunal found that the assessee had a sufficient cause for non-appearance and restored the matter to the CIT(Exemption) for fresh adjudication. This was subject to the assessee paying costs of Rs. 1,000/- to the Prime Minister Relief Fund.
The Tribunal held that since the assessment order, which formed the basis for initiating penalty proceedings, was annulled due to a mandatory procedural defect (non-issuance of Section 143(2) notice), the penalty under Section 271(1)(b) could not be sustained. Therefore, the penalty was cancelled.
The Tribunal held that the payments were made pursuant to valid agreements and were within legal limits. Section 36(1)(ii) of the Income Tax Act was found not applicable in this case.
The Tribunal found that the CIT(A) had not adjudicated the issues on merit. Therefore, the matter was remitted back to the CIT(A) for fresh adjudication, subject to the assessee paying costs.
The Tribunal decided to remit the matter back to the CIT(A) for fresh adjudication, subject to the assessee paying costs. The CIT(A) is to ensure payment of costs before proceeding.
The ITAT held that the CIT(A) passing an ex parte order without adjudicating on merits is not in accordance with law. Therefore, the matter was set aside to the CIT(A) for fresh adjudication.
The ITAT set aside the CIT(A)'s ex parte order, directing it to adjudicate the case on merits. This is subject to the assessee paying costs of Rs. 5,000/- to the Prime Minister Relief Fund.
The ITAT held that the CIT(A) order was not in accordance with law as it was passed ex parte without disposing of the case on merits. The matter was set aside to the CIT(A) for fresh adjudication.
The ITAT held that the CIT(A) passing an ex parte order without adjudicating on merits is not in accordance with law. Therefore, the matter was set aside to the CIT(A) for fresh adjudication.
The Tribunal held that as per CBDT Circular No. 3/2018, appeals with a tax effect below the specified monetary limit are to be dismissed. Therefore, the revenue's appeal was dismissed.
The Tribunal noted that a sister concern involved in the same search was assessed at a lower commission rate. The department could not dispute this fact, leading the Tribunal to partly accept the assessee's arguments.
The Tribunal deleted the disallowance of proportionate interest, holding that interest-free funds were sufficient to cover investments yielding exempt income. The disallowance of administrative expenditure was remitted for recomputation.
The Tribunal held that the reassessments were indeed time-barred as they were not completed within the statutory period prescribed under Section 153 of the Income Tax Act, 1961.
The Tribunal held that the reassessments were indeed time-barred as they were framed beyond the statutory period prescribed under Section 153 of the Act, even after considering the exclusion for exchange of information.
The Tribunal found that there was no clear indication of proper service of hearing notices by the CIT(A). Therefore, to ensure justice, the appeal was restored to the CIT(A) for fresh adjudication.
The Tribunal upheld the CIT(A)'s decision to deny the exemption for agricultural income, finding no merit in the assessee's claim due to lack of agricultural activity and expenditure. A disallowance of salary was restricted, and a ground regarding unabsorbed depreciation was remanded.
The Tribunal held that no disallowance under Section 14A read with Rule 8D can be made when the assessee has not earned any exempt income. This decision aligns with various High Court pronouncements.
The Tribunal found that the CIT(A) passed the order ex parte without considering the merits and that the assessee was not given a proper opportunity to be heard, violating principles of natural justice. Therefore, the impugned order was set aside.
The Tribunal held that the assessee failed to maintain complete details of journeys for official purposes and provide a certificate for exclusive official use, as required by the rules. Therefore, the reimbursement was a perquisite subject to TDS, and the penalty was justified.
The Tribunal held that the assessee failed to maintain complete details of journeys for official purposes and provide a certificate for exclusive official use, as required by the rules. Therefore, the reimbursement was a perquisite subject to TDS, and the penalty was justified.
The Tribunal held that the subsidy was given to encourage industrialization and setting up or expanding industries in backward areas, thus it was a capital receipt. The Tribunal also held that Section 2(22)(e) of the Income Tax Act was not applicable as the assessee was not a registered shareholder of the payer company.
The Tribunal dismissed the Revenue's appeal. Regarding the addition of Rs. 26,63,100/- as undisclosed sales, the Tribunal found no reason to interfere with the CIT(A)'s deletion. The Tribunal affirmed that the assessee is engaged in property development and that the mere book treatment of land as a fixed asset does not preclude it from being treated as stock-in-trade. Citing the Supreme Court's decision in Kedarnath Jute & Mills case and a co-ordinate bench decision in Canara Bank v/s. JCIT, the Tribunal held that an assessee's book treatment cannot be the sole guiding factor for tax incidence. Therefore, the land was correctly treated as stock-in-trade, and the Revenue's argument to treat it as a fixed asset was rejected. The Tribunal also rejected the Revenue's technical plea regarding the assessee's alleged consent during scrutiny, stating that the purpose of scrutiny is to determine taxable income as per the Act and that estoppel does not apply in income-tax proceedings. Consequently, the CIT(A)'s deletion of the addition was upheld, and the assessee was entitled to treat its land as stock-in-trade, allowing for business loss and deleting Short Term Capital Gain under Section 50C.