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523 orders · Page 7 of 11
The Tribunal held that the CBDT circular No. 21/2015, which sets a monetary limit of Rs. 10 lakhs for filing appeals before the Tribunal, is binding on the Revenue. Since the tax effect was below this limit, the appeals were not maintainable.
The Tribunal held that transfer pricing adjustments should be restricted to international transactions only, not all transactions. It also restored issues regarding product warranty and service coupon commission to the AO for fresh adjudication.
The Tribunal held that the appeals were not maintainable as per CBDT Circular No. 21/2015, which mandates withdrawal or non-pressing of appeals with a tax effect below a specified limit. The appeals were dismissed as not pressed.
The Tribunal held that the assessee had disclosed the entire income and committed only computational errors by mixing up income heads, not concealment or furnishing inaccurate particulars. Therefore, the penalty was deleted.
The Tribunal dismissed the assessee's appeal, finding no infirmity in the concurrent findings of the AO and CIT(A). The assessee failed to provide evidence to substantiate its claims regarding the lower gross profit margin on sales to sister concerns.
The Tribunal remanded the issue of interest disallowance to the Assessing Officer for verification. The ad-hoc disallowance from trip expenses was reduced from Rs. 1 lakh to Rs. 50,000.
The Tribunal allowed the deduction for interest on delayed customs duty as a business expenditure. However, it dismissed the appeal regarding rental income for one assessment year, while for another, it directed that the outcome of a pending High Court decision would be binding.
The Tribunal held that the appeal was not maintainable due to the monetary limit prescribed by the Board for appeals filed by the Revenue. The appeal was dismissed on this ground.
The Tribunal found that the ex-parte order for AY 2002-03 was not justified due to lack of proof of notice service. Both appeals were therefore remanded to the CIT(A) for fresh adjudication on merits, with an opportunity of being heard to the assessee.
The Tribunal held that the assessee had a reasonable cause for non-compliance with the notice under section 142(1) as it was impossible to furnish the voluminous details by the due date, having received the notice on the same day. Therefore, the penalty levied under section 271(1)(b) was deleted.
The Tribunal held that the assessee had a reasonable cause for non-compliance with the notice under section 142(1) as it was impossible to furnish the voluminous details by the due date, having received the notice on the same day. Therefore, the penalty levied under section 271(1)(b) was deleted.
The Tribunal held that the assessee had a reasonable cause for non-compliance with the notice under section 142(1) as it was impossible to furnish the voluminous details by the due date, having received the notice on the same day. Therefore, the penalty levied under section 271(1)(b) was deleted.
The Tribunal held that the assessee had a reasonable cause for non-compliance with the notice under section 142(1) as it was impossible to furnish the voluminous details by the due date, having received the notice on the same day. Therefore, the penalty levied under section 271(1)(b) was deleted.
The Tribunal held that the assessee had a reasonable cause for non-compliance with the notice under section 142(1) as it was impossible to furnish the voluminous details by the due date, having received the notice on the same day. Therefore, the penalty levied under section 271(1)(b) was deleted.
The Tribunal held that the assessee had a reasonable cause for non-compliance with the notice under section 142(1) as it was impossible to furnish the voluminous details by the due date, having received the notice on the same day. Therefore, the penalty levied under section 271(1)(b) was deleted.
The Tribunal held that the assessee had a reasonable cause for non-compliance with the notice under section 142(1) as it was impossible to furnish the voluminous details by the due date, having received the notice on the same day. Therefore, the penalty levied under section 271(1)(b) was deleted.
The Tribunal upheld the CIT(A)'s disallowance of interest on term loans for capital work-in-progress, finding no interest-free funds available. However, for AY 2009-10 and 2010-11, the Tribunal allowed the assessee's grounds regarding Section 14A disallowance, as no exempt income was earned.
The Tribunal held that the transfer fees received by the housing society are not taxable based on the principle of mutuality, following the jurisdictional High Court's decision. The earlier order of the Tribunal was recalled to consider this afresh.
The Tribunal dismissed the Revenue's appeal for AY 2007-08 due to low tax effect. The Revenue's appeal for AY 2011-12 regarding rental income was partly allowed on the principle of parity. The assessee's appeal for AY 2011-12 concerning disallowance of expenses was allowed.
The Tribunal dismissed the assessee's grounds related to proportionate disallowance of interest on capital work-in-progress for all years. However, for AY 2009-10 and 2010-11, the Tribunal allowed the grounds challenging disallowance under Section 14A, as no exempt income was earned.
The Tribunal restored the issue of transfer pricing adjustments to the Assessing Officer (AO) for de novo assessment. The AO was directed to re-examine the issue based on Softex forms and STPI authorities' orders, similar to a previous year's decision.
The Tribunal held that penalty u/s 271(1)(c) was not leviable as the assessee had disclosed all particulars and the issue was covered by the Delhi High Court's decision in CIT vs. Jubilant Enpro Pvt Ltd.
The Tribunal held that for the write-off of bad debts, it is sufficient for the debt to be written off in the assessee's books of accounts, and it is not necessary to prove that the debt has become irrecoverable. The Tribunal followed its own previous decision in the assessee's own case and decisions of the Hon'ble Apex Court.
The Tribunal dismissed the assessee's grounds related to proportionate disallowance of interest on capital work-in-progress for all years. However, for AY 2009-10 and 2010-11, the Tribunal allowed the grounds challenging disallowance under Section 14A, as no exempt income was earned.
The Tribunal dismissed the assessee's grounds related to proportionate disallowance of interest on capital work-in-progress for all years. However, for AY 2009-10 and 2010-11, the Tribunal allowed the grounds challenging disallowance under Section 14A, as no exempt income was earned.
The Tribunal found that the CIT(A) incorrectly stated that the AO accepted the verification of sales return in the remand report. The AO's report actually indicated that the claim was untenable due to lack of substantiation. Therefore, the case was remanded back to the CIT(A).
The Tribunal held that the Rs. 12.92 crore receipt was in the nature of goodwill and upheld the CIT(A)'s decision. It also allowed the claim for bad debts related to government securities and TDS certificates, and directed the AO to allow the claim for unrecoverable advances for securities.
The Tribunal upheld the CIT(A)'s decision to delete additions related to undisclosed cash receipts from land sales, finding them not factually sustainable. It also upheld the CIT(A)'s decision regarding telescopic benefit for income offered in a subsequent year.
The Tribunal upheld the CIT(A)'s decision to delete additions related to undisclosed cash receipts from land sales, finding them not factually sustainable. It also upheld the CIT(A)'s decision regarding telescopic benefit for income offered in a subsequent year.
The Tribunal held that since the quantum additions, which formed the basis for the penalty, were deleted by a previous Tribunal order, the penalty could not survive. Therefore, the penalty was directed to be deleted.
The Tribunal dismissed the assessee's grounds related to proportionate disallowance of interest on capital work-in-progress for all years. However, for AY 2009-10 and 2010-11, the Tribunal allowed the grounds challenging disallowance under Section 14A, as no exempt income was earned.
The Tribunal held that since the quantum assessment proceedings were quashed by a previous order of the Tribunal, the penalty levied in relation to those proceedings would not survive.
The Tribunal held that there was no principal-agent relationship between the assessee and the banks, and the credit card charges were not in the nature of commission or brokerage as contemplated by Section 194H. Therefore, the assessee was not required to deduct TDS.
The Tribunal allowed the claim for mine development expenditure, relying on previous High Court decisions that if a recurring issue is allowed in the first year and there's no change in facts, it cannot be denied in subsequent years. Other grounds were decided based on prior rulings.
The Tribunal held that the appeal of the Revenue had become infructuous. It referred to its earlier decision in ITA No.3476/Mum/2014, which dealt with identical facts and issues for the assessment year 2007-08. In that decision, the Tribunal had quashed the assessment order passed under Section 147 read with Section 143(3) on the grounds that the reopening was based on a 'change of opinion' and lacked valid reasons. The Tribunal found no material to suggest that the assessee was actually doing banking business or was a cooperative bank. Therefore, the reopening under Section 147 was held to be bad in law. Consequently, the issue on merits became academic. For the present appeal concerning assessment year 2009-10, the Tribunal found no merit in the Revenue's appeal and upheld the conclusion of the CIT(A), resulting in the dismissal of the Revenue's appeal. The operative direction was the dismissal of the Revenue's appeal.
The Tribunal held that the Assessing Officer should follow the formula prescribed in Rule 8D for calculating interest and administrative expenditure disallowances. The AO was directed to re-examine the claim as per law.
The Tribunal upheld the CIT(A)'s order deleting the penalty. It found that the assessee provided bona fide explanations, substantiated by technical evaluation and consistent with Accounting Standard AS-2, and that the Revenue failed to present cogent material to prove deliberate tax evasion.
The Tribunal allowed the claim for mine development expenditure, following the jurisdictional High Court's decisions on recurring issues and the fact that it was allowed in a prior year without change in facts. Other grounds were decided based on previous orders or remanded.
The Tribunal refused to admit additional evidence as it was available earlier and not produced deliberately. However, the issue of unadjudicated interest income was remanded back to the First Appellate Authority for fresh decision.
The Tribunal held that the nature of share transactions as capital gains or business income should be consistent with previous assessment years. It also ruled that depreciation on tenancy rights is not allowable based on a previous Mumbai Bench decision.
The Tribunal dismissed the appeal as not maintainable because the tax effect was below the monetary limit prescribed by the CBDT.
The Tribunal held that the matter needs to be restored to the AO for de-novo determination. The AO is to examine the actual rendition of services and the adequacy of the provision, ensuring no double deduction.
The Tribunal held that the appeal was not maintainable due to the low tax effect, as per the applicable CBDT circular. The appeal was dismissed as not pressed.
The Tribunal, following a coordinate bench's decision for the preceding year, directed the AO to re-determine the disallowance under Section 14A read with Rule 8D, applying a 20% restriction for shares held as stock-in-trade.
The Tribunal allowed the claim for mine development expenditure, following the jurisdictional High Court's decisions on recurring issues and the fact that it was allowed in a prior year without change in facts. Other grounds were decided based on previous orders or remanded.
The Tribunal restored the issue of unexplained money to the Assessing Officer for re-examination in light of new documents produced. Regarding expenses, the Tribunal reduced the disallowance from 20% to 10% considering the nature of expenditure.
The Tribunal upheld the Commissioner (Appeals)'s order, allowing the contractor payment as the assessee provided sufficient evidence of identity and genuineness, including TDS deduction. For the property addition, the Tribunal found no cogent evidence of payment exceeding the recorded sale consideration, relying on DVO's report alone being insufficient.
The Tribunal held that the CIT(A) failed to conclusively prove service of the assessment order, thus the assessee's explanation for delay should be considered sympathetically. The matter was restored to the AO for fresh adjudication. For the penalty appeal, the Tribunal directed the AO to verify if the audit report was obtained before the due date and submitted during assessment.
The Tribunal restored the issue to the CIT(A) for de-novo determination, directing the assessee to produce receipts and other relevant documents to substantiate its claim. The CIT(A) is to examine the genuineness and correctness of the claim in accordance with law.
The Tribunal allowed the deduction of interest expenditure, following a co-ordinate bench's decision that no disallowance could be made as borrowed funds were not used for the e-learning division. It also allowed exemption for interest income under Section 10B, holding it had a direct nexus with the export business as it was earned on margin money for letters of credit.