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164 orders · Page 4 of 4
The Tribunal found that the assessee should be given an opportunity to present the facts before the Assessing Officer. The assessment order was set aside, and the matter was restored for a de novo assessment.
The Tribunal held that in cases of completed/unabated assessments, additions under Section 153A of the Income Tax Act cannot be made in the absence of incriminating material found during the search action. This decision was based on the Hon'ble Supreme Court's ruling in PCIT vs. Abhisar Buildwell Pvt. Ltd. The Court held that Section 153A is intended to assess or reassess total income for the block period only when incriminating material is found. If no such material is found in completed assessments, the Revenue's remedy lies in reassessment proceedings under Sections 147/148, subject to their conditions. Since no incriminating material was found during the search, and the assessments were completed/unabated, the Assessing Officer lacked the authority to make additions on other issues. Consequently, the impugned additions were deemed unsustainable and ordered to be deleted. The appeals filed by the assessee were allowed, and the cross-appeals by the revenue were dismissed.
The Tribunal found that the Assessing Officer had indeed used a wrong turnover figure. The assessee provided reconciliation showing total sales inclusive of VAT were higher than the bank deposits, thus explaining the difference.
The Tribunal held that in cases of completed/unabated assessments, additions under Section 153A of the Income Tax Act cannot be made in the absence of incriminating material found during the search action. This decision was based on the Hon'ble Supreme Court's ruling in PCIT vs. Abhisar Buildwell Pvt. Ltd. The Court held that Section 153A is intended to assess or reassess total income for the block period only when incriminating material is found. If no such material is found in completed assessments, the Revenue's remedy lies in reassessment proceedings under Sections 147/148, subject to their conditions. Since no incriminating material was found during the search, and the assessments were completed/unabated, the Assessing Officer lacked the authority to make additions on other issues. Consequently, the impugned additions were deemed unsustainable and ordered to be deleted. The appeals filed by the assessee were allowed, and the cross-appeals by the revenue were dismissed.
The Tribunal noted that the issue regarding the grant of exemption certificate under Section 10(23C)(vi) was still pending before the CIT(E). Therefore, the Tribunal set aside the matter to the CIT(A) for fresh adjudication based on any consequential order from the CIT(E).
The Tribunal held that the Assessing Officer failed to make necessary inquiries regarding shareholding and investment discrepancies. Therefore, the PCIT rightly exercised revisionary jurisdiction.
The Tribunal held that no disallowance under Section 14A read with Rule 8D is required if the assessee has not earned any exempt income, following the jurisdictional High Court's decision. The issue regarding MAT credit was remanded back to the AO for re-examination.
The Tribunal held that in cases of completed/unabated assessments, additions under Section 153A of the Income Tax Act cannot be made in the absence of incriminating material found during the search action. This decision was based on the Hon'ble Supreme Court's ruling in PCIT vs. Abhisar Buildwell Pvt. Ltd. The Court held that Section 153A is intended to assess or reassess total income for the block period only when incriminating material is found. If no such material is found in completed assessments, the Revenue's remedy lies in reassessment proceedings under Sections 147/148, subject to their conditions. Since no incriminating material was found during the search, and the assessments were completed/unabated, the Assessing Officer lacked the authority to make additions on other issues. Consequently, the impugned additions were deemed unsustainable and ordered to be deleted. The appeals filed by the assessee were allowed, and the cross-appeals by the revenue were dismissed.
The Tribunal held that in cases of completed/unabated assessments, additions under Section 153A of the Income Tax Act cannot be made in the absence of incriminating material found during the search action. This decision was based on the Hon'ble Supreme Court's ruling in PCIT vs. Abhisar Buildwell Pvt. Ltd. The Court held that Section 153A is intended to assess or reassess total income for the block period only when incriminating material is found. If no such material is found in completed assessments, the Revenue's remedy lies in reassessment proceedings under Sections 147/148, subject to their conditions. Since no incriminating material was found during the search, and the assessments were completed/unabated, the Assessing Officer lacked the authority to make additions on other issues. Consequently, the impugned additions were deemed unsustainable and ordered to be deleted. The appeals filed by the assessee were allowed, and the cross-appeals by the revenue were dismissed.
The Tribunal held that in cases of completed/unabated assessments, additions under Section 153A of the Income Tax Act cannot be made in the absence of incriminating material found during the search action. This decision was based on the Hon'ble Supreme Court's ruling in PCIT vs. Abhisar Buildwell Pvt. Ltd. The Court held that Section 153A is intended to assess or reassess total income for the block period only when incriminating material is found. If no such material is found in completed assessments, the Revenue's remedy lies in reassessment proceedings under Sections 147/148, subject to their conditions. Since no incriminating material was found during the search, and the assessments were completed/unabated, the Assessing Officer lacked the authority to make additions on other issues. Consequently, the impugned additions were deemed unsustainable and ordered to be deleted. The appeals filed by the assessee were allowed, and the cross-appeals by the revenue were dismissed.
The Tribunal held that in cases of completed/unabated assessments, additions under Section 153A of the Income Tax Act cannot be made in the absence of incriminating material found during the search action. This decision was based on the Hon'ble Supreme Court's ruling in PCIT vs. Abhisar Buildwell Pvt. Ltd. The Court held that Section 153A is intended to assess or reassess total income for the block period only when incriminating material is found. If no such material is found in completed assessments, the Revenue's remedy lies in reassessment proceedings under Sections 147/148, subject to their conditions. Since no incriminating material was found during the search, and the assessments were completed/unabated, the Assessing Officer lacked the authority to make additions on other issues. Consequently, the impugned additions were deemed unsustainable and ordered to be deleted. The appeals filed by the assessee were allowed, and the cross-appeals by the revenue were dismissed.
The Tribunal found that the CIT(A) passed an ex-parte order despite notices being served, as the assessee's representative did not properly represent the case. To ensure justice, the Tribunal decided to remand the entire issue back to the CIT(A).
The Tribunal held that the filing of Form 67 is a procedural and directory requirement, not mandatory. Therefore, the denial of relief solely on the basis of late filing of Form 67 was improper.
The Tribunal held that the filing of Form 67 is a procedural and directory requirement, not mandatory. Therefore, the denial of relief solely on the basis of late filing of Form 67 was improper.