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273 orders · Page 4 of 6
The Tribunal found that the CIT(Appeals) dismissed the appeal without going into the merits of the case and that the assessee was unable to file some evidence. Therefore, the matter was remitted back to the CIT(Appeals) for a fresh decision, providing one more opportunity to the assessee.
The Tribunal condoned the delay in filing the appeal. Considering the principle of natural justice and the assessee's request for an opportunity to present evidence, the matter was remitted back to the CIT(Appeals).
The Tribunal held that the filing of Form 10B is a procedural and directory requirement, not mandatory. Therefore, a delay of 30 days in filing the audit report should be condoned.
The Tribunal, considering the peculiar circumstances and the explanation provided in the affidavit regarding the erstwhile consultant, deemed it appropriate in the interest of justice to set aside the CIT(A)'s order. The appeal was restored to the CIT(A) for disposal on merits.
The Tribunal condoned the delay in filing the appeal, citing the principle of natural justice. It remitted the matter back to the lower appellate authority to provide the assessee with another opportunity to present their case and examine the documents.
The Tribunal held that the addition and penalty were based solely on a tax audit report that was not required for the assessment year in question, as per a CBDT circular. The Tribunal deleted the addition and quashed the consequential penalty.
The Tribunal set aside the CIT(A)'s order and restored the appeal for fresh adjudication. This is to be done after considering the outcome of the pending quantum appeal against the assessment order.
The Tribunal acknowledged the assessee's plea for an opportunity to substantiate their case and directed the CIT(Appeals) to dispose of the appeal on merits. The assessee was cautioned to cooperate with future proceedings.
The Tribunal held that the assessee herself declared a turnover of Rs. 10,83,051/- and admitted that these were cash transactions. The assessee also stated that the transactions were done through Mr. Kismat Das and that she had paid a principal of Rs. 1,00,000/-. The assessee's own summary declaration admitted gross profits of Rs. 4,52,708/-. The Tribunal noted that even if presumptive provisions were to be accepted, the assessee failed to substantiate her turnover. The assessee admitted to exclusively cash transactions and receiving profit, but failed to provide evidence such as an account statement from Mr. Das or transaction details. In the absence of any evidence to substantiate the claimed turnover, the AO was left with no option but to treat the amount as unexplained cash credit. The assessee was unable to show the source or explanation for the cash. Therefore, the addition made by the AO and confirmed by the CIT(A) was upheld.
The Tribunal held that the penalty under Section 271(1)(c) cannot survive independently if the additions forming the basis of the penalty have been deleted by a superior appellate authority. The Revenue has an alternate remedy under Section 275(1A) if the additions are revived by a higher court.
The Tribunal held that the CIT(A) had not properly determined the advance tax payable and had not adjudicated the appeal on merits. Therefore, the order of the CIT(A) was set aside to be decided afresh.
The Tribunal restored the issue to the Assessing Officer for de-novo assessment, allowing the assessee to produce directors and prove the genuineness of the transaction. The burden remains on the assessee to discharge the onus.
The Tribunal held that the loan from M/s. Welcome Distilleries Pvt. Ltd. could not be treated as deemed dividend in the hands of the assessee as the assessee was not a shareholder in Welcome Distilleries. However, the Tribunal found that the PCIT's invocation of revisionary powers was justified regarding the bogus liability of ₹1.22 Crores as it was not examined by the AO.
The Tribunal found that the assessee was not in a position to file all necessary evidence and, to ensure natural justice, decided to provide one more opportunity. The matter was remitted back to the Additional/Joint CIT(Appeals) for a fresh decision.
The Tribunal found that the CIT(A) erroneously dismissed the appeal on grounds of delay when there was no actual delay. The matter was therefore restored to the CIT(A) to be decided on merits.
The Tribunal condoned the delay of 196 days in filing the appeal before the CIT(Appeals). The matter was remitted back to the CIT(Appeals) to provide the assessee with another opportunity to be heard on merits.
The Tribunal found that the assessee was not in a position to file all evidence before the CIT(Appeals). Therefore, to ensure natural justice, the matter was remitted back to the CIT(Appeals) for a fresh decision after examining the documents.
The Tribunal noted that while CSR expenditure is generally disallowed under Section 37(1), donations made out of CSR funds to entities eligible under Section 80G may be allowable. The case was remitted to the AO to verify the eligibility of the donee institution.
The Tribunal dismissed the appeals as withdrawn, noting that this withdrawal would not prevent the assessee from challenging the earlier rejection orders. The Tribunal also suggested considering the time spent on these appeals for condoning any delay in challenging subsequent orders.
The Tribunal confirmed the CIT(A)'s order, finding that the disallowance was based on a disputed failure to file the audit report. Since the assessee provided evidence of filing, the CIT(A)'s deletion of the addition was justified.
The Tribunal found that both the Assessing Officer and CIT(A) passed ex-parte orders and the CIT(A) did not decide all grounds of appeal. Therefore, the Tribunal set aside the impugned orders and remanded the matter for de-novo assessment.
The ITAT condoned the inordinate delay of 1753 days in filing the appeal. The tribunal set aside the CIT(Appeals) order and remitted the matter back for fresh adjudication on merits to ensure natural justice.
The Tribunal found that both the Assessing Officer and CIT(A) passed ex-parte orders without deciding all grounds of appeal on merits. Therefore, the matter was restored to the Assessing Officer for de-novo adjudication.
The Tribunal held that the disallowance under Rule 8D(2)(iii) should only be on investments yielding exempt income, not the entire average investment. It upheld the disallowance under Rule 8D(2)(i) and the assessee's own disallowance under Rule 8D(2)(iii), resulting in a total disallowance of Rs. 5,030/-.
The ITAT condoned the delay in filing the appeal before the CIT(A) as there was a reasonable cause. The matter was remitted back to the AO for a fresh decision after providing the assessee an opportunity to be heard and substantiate their claims.
The Tribunal found that both the Assessing Officer and CIT(A) passed ex-parte orders without deciding all grounds of appeal on merits. Therefore, the matter was restored to the Assessing Officer for de-novo adjudication.
The tribunal held that since the assessee did not participate in the proceedings and the CIT(A) did not decide all grounds on merits, the case should be restored to the Assessing Officer for de-novo assessment. The Assessing Officer was directed to provide a hearing opportunity to the assessee.
The Tribunal upheld the findings of the Ld. CIT(A) regarding the acceptance of the merchant banker's valuation method for determining the Fair Market Value (FMV) of the shares under Section 50CA. However, the Tribunal disagreed with the Ld. CIT(A)'s decision to gross up the tax liability borne by the buyer and add it to the FMV. The Tribunal noted that the actual consideration received by the assessee was USD 80 lakhs, equivalent to Rs. 58,95,82,398/-. The assessee had also added the grossed-up tax liability, resulting in Rs. 63,81,18,000/-. The Tribunal found that the variation between the sale consideration offered to tax and the FMV did not exceed 10% of the sale consideration. Furthermore, when the actual consideration is substituted by FMV under Section 50CA, adding the grossed-up tax liability is not permissible as it gets subsumed within the FMV. Therefore, the AO was directed to compute capital gains by adopting the sale consideration as shown by the assessee, with no further additions.
The Tribunal upheld the findings of the Ld. CIT(A) regarding the acceptance of the merchant banker's valuation method for determining the Fair Market Value (FMV) of the shares under Section 50CA. However, the Tribunal disagreed with the Ld. CIT(A)'s decision to gross up the tax liability borne by the buyer and add it to the FMV. The Tribunal noted that the actual consideration received by the assessee was USD 80 lakhs, equivalent to Rs. 58,95,82,398/-. The assessee had also added the grossed-up tax liability, resulting in Rs. 63,81,18,000/-. The Tribunal found that the variation between the sale consideration offered to tax and the FMV did not exceed 10% of the sale consideration. Furthermore, when the actual consideration is substituted by FMV under Section 50CA, adding the grossed-up tax liability is not permissible as it gets subsumed within the FMV. Therefore, the AO was directed to compute capital gains by adopting the sale consideration as shown by the assessee, with no further additions.
The tribunal condoned the delay in filing the appeals, subject to a deposit to a national relief fund. The matters were then remanded to the Assessing Officer for re-adjudication in light of a Supreme Court judgment concerning 'Old Settlers of Sikkim' and consequential amendments to the Income Tax Act.
The tribunal condoned the delay in filing the appeals, subject to a deposit to a national relief fund. The matters were then remanded to the Assessing Officer for re-adjudication in light of a Supreme Court judgment concerning 'Old Settlers of Sikkim' and consequential amendments to the Income Tax Act.
The tribunal condoned the delay in filing the appeals, subject to a deposit to a national relief fund. The matters were then remanded to the Assessing Officer for re-adjudication in light of a Supreme Court judgment concerning 'Old Settlers of Sikkim' and consequential amendments to the Income Tax Act.
The Tribunal noted the assessee's submission that the appeal was filed inadvertently. Consequently, the Tribunal dismissed the appeal as withdrawn.
The Tribunal condoned the delay in filing the appeals, citing the precedent set by a co-ordinate bench in the assessee's own case. The matter was then remanded to the Assessing Officer for fresh adjudication.
The Tribunal held that the AO failed to make necessary inquiries regarding bogus LTCG/STCL, making the assessment order erroneous and prejudicial to the revenue. Consequently, the PCIT's order to restore the matter to the AO for re-assessment was upheld.
The Tribunal condoned the delay in filing the appeals, citing the precedent set by a co-ordinate bench in the assessee's own case. The matter was then remanded to the Assessing Officer for fresh adjudication.
The Tribunal condoned the delay in filing the appeals, citing the precedent set by a co-ordinate bench in the assessee's own case. The matter was then remanded to the Assessing Officer for fresh adjudication.
The tribunal condoned the delay in filing the appeals, subject to a deposit to a national relief fund. The matters were then remanded to the Assessing Officer for re-adjudication in light of a Supreme Court judgment concerning 'Old Settlers of Sikkim' and consequential amendments to the Income Tax Act.
The Tribunal found that both the Assessing Officer and CIT(A) passed ex-parte orders and the CIT(A) did not decide all grounds on merits. Therefore, the case was restored to the Assessing Officer for de-novo assessment.
The Tribunal directed the assessee to file an application for condonation of delay before the CIT(A). The CIT(A) was instructed to consider this application liberally and decide the appeal on its merits after providing an opportunity to be heard.
The tribunal found that both lower authorities passed ex-parte orders and the CIT(A) did not decide all grounds of appeal on merits. Therefore, in the interest of justice, the issue was restored to the Assessing Officer for de-novo adjudication.
The Tribunal condoned the significant delay in filing the appeal before the CIT(A) by accepting the assessee's reasons as sufficient cause. The matter was remanded back to the CIT(A) for adjudication on merits.
The Tribunal found that the CIT(A) passed an ex-parte order without hearing the assessee and without deciding all grounds on merits. In the interest of natural justice, the matter was remanded back to the CIT(A).
The Tribunal, considering the liberal approach to condoning delay as per Supreme Court rulings, directed the CIT(A) to decide the condonation application afresh if filed by the assessee. If the delay is condoned, the CIT(A) should adjudicate the appeal on merits.
The tribunal held that the Assessing Officer erred in rejecting the assessee's request for a reference to the DVO, as mandated by Section 50C(2) of the Act when the consideration value is disputed. The matter was remanded for fresh assessment.
The Tribunal held that the CIT(A) order was passed ex-parte and without deciding all grounds on merits. Therefore, the matter was remanded back to the CIT(A) for a fresh decision after hearing the assessee.
The Tribunal found that both lower authorities passed ex-parte orders and the CIT(A) did not decide all grounds on merits. Therefore, in the interest of justice, the case was restored to the Assessing Officer for a fresh assessment, with an opportunity for the assessee to be heard and present evidence.
The Tribunal held that once the addition is deleted by the revisionary authority, the Assessing Officer cannot pass a penalty order. Therefore, the penalty order was illegal and without basis.
The Tribunal found that the CIT(A) had passed an ex-parte order without deciding the grounds of appeal and without giving the assessee an opportunity to be heard. Therefore, the Tribunal restored the appeal to the CIT(A) for a fresh decision.
The Tribunal found that both the Assessing Officer and the CIT(A) passed ex-parte orders without the assessee's participation. The CIT(A) also failed to decide all grounds of appeal on merits.