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612 orders · Page 7 of 13
The CIT(A) deleted the addition, finding that the compensation was paid in a subsequent financial year and was a commercially profitable decision. The Tribunal upheld this deletion, noting that Section 68 is not applicable as the amount was not a credit in the books for the relevant year and the transaction was commercially justified.
The Tribunal, following its previous orders for earlier assessment years, set aside the matter to the Assessing Officer for a fresh examination of all factual aspects, including the eligibility for exemption and the quantum of deduction.
The Tribunal held that Section 115A of the Income Tax Act mandates that the concessional rate of tax is to be applied to the gross interest income, not the net interest income. Consequently, the disallowance of proportionate interest expenditure by the Assessing Officer was incorrect.
The tribunal set aside the disallowance of brokerage and remanded it to the Assessing Officer for fresh consideration. It also held that the unreceived advance rent, adjusted against sale proceeds, cannot be treated as income.
The Tribunal held that transaction charges are not fees for technical services, citing a Supreme Court judgment. It also noted that VSAT charges were previously held by the CIT(A) in the assessee's own case as not attracting Section 194-J.
The Tribunal held that the issue of allowability of deduction under Section 80IB in respect of interest income, DEPB, and duty drawback is covered against the assessee by the Supreme Court judgment in Liberty India vs. CIT. Therefore, the CIT(A)'s decision was confirmed.
The Tribunal held that the tax effect in the appeal was below Rs. 10 lakhs. Following CBDT Circular No. 21/2015, which mandates withdrawal or non-pressing of pending appeals below a certain tax limit, the appeal was dismissed.
The Tribunal decided on various grounds concerning the treatment of compensation, forfeiture of advance money, and disallowance of expenses. Some issues were restored to the Assessing Officer for fresh examination, while others were decided based on existing precedents or lack of evidence.
The Tribunal decided on various grounds concerning the treatment of compensation, forfeiture of advance money, and disallowance of expenses. Some issues were restored to the Assessing Officer for fresh examination, while others were decided based on existing precedents or lack of evidence.
The Tribunal deleted the ad-hoc disallowances for travelling and telephone expenses, finding no specific reasons for them. It also allowed the deduction for ESI and PF contributions, as they were paid before the due date of filing the return of income, citing a High Court precedent.
The tribunal dismissed the ground regarding opportunity of being heard as not pressed. Other grounds were decided against the assessee based on admissions and prior judicial pronouncements.
The Tribunal held that the revisional jurisdiction invoked by the Commissioner under Section 263 was wrongly exercised. The previous decision in favour of the assessee on the issue of deduction computation was also considered.
The Tribunal held that the impugned order of the CIT(A) was not sustainable in law. It directed the CIT(A) to follow the ratio of the jurisdictional High Court and grant the set off of brought forward losses.
The Tribunal held that the appeal filed by the Revenue was not maintainable due to the tax effect being below the prescribed monetary limit. Consequently, the appeal was dismissed.
The Tribunal condoned the one-day delay in filing the appeal. Considering the principles of natural justice and procedural inadequacies in the lower authorities' orders, the matter was remanded back to the AO for fresh adjudication.
The Tribunal found that the CIT(A) had not properly addressed the claim under Section 80IB(4) and had incorrectly applied Section 80HHC. Therefore, the matter was restored to the CIT(A) for fresh adjudication.
The Tribunal held that the appeal was not maintainable as the tax effect was below the threshold specified by CBDT Circular No. 21 of 2015. The circular was applicable retrospectively to pending appeals.
The Tribunal decided on various grounds concerning the treatment of compensation, forfeiture of advance money, and disallowance of expenses. Some issues were restored to the Assessing Officer for fresh examination, while others were decided based on existing precedents or lack of evidence.
The Tribunal held that the assessee is entitled to the full deduction of Rs. 82.00 lakhs. The CIT(A) had rightly followed the Madras High Court's decision which allowed the deduction even if investments spanned two financial years, subject to the overall limit.
The Tribunal noted that the tax effect in the appeal was less than Rs. 10,00,000/-. As per the CBDT circular, appeals with a tax effect below this limit should not be filed or pressed.
The Tribunal held that the AO's observation that the assessee's disallowance was without basis constituted dissatisfaction. Therefore, the CIT(A) was not justified in deleting the disallowance solely on the ground that the AO had not recorded his dissatisfaction.
The Tribunal found the CIT(A)'s ex-parte order to be erroneous and against the principles of natural justice as it lacked details regarding notice issuance and service. The appeal was restored to the CIT(A) for a fresh hearing.
The Tribunal directed the Assessing Officer to make a disallowance of 5% of the purchases. This was a compromise after the assessee suggested a reasonable disallowance instead of remanding the matter.
The Tribunal held that the onus is on the assessee to substantiate agricultural income claims with evidence, which was lacking in this case. The assessee had also admitted to the absence of supporting documents before the lower authorities.
The Tribunal dismissed the appeal filed by the Revenue. The dismissal was based on the fact that the tax effect was below the monetary limit prescribed by the CBDT.
The Tribunal noted that the tax effect was below the monetary limit prescribed by CBDT instruction for filing appeals before the ITAT. Therefore, the appeal was not maintainable.
The Tribunal held that the process of cutting and polishing diamonds constitutes manufacturing, as it results in a distinct and different product. Therefore, the assessee is eligible for additional depreciation.
The Tribunal noted that the tax effect was indeed below Rs. 10 Lakhs and did not fall under any exceptions in the CBDT circular. Therefore, the appeal was dismissed as not maintainable.
The Tribunal held that the AO was justified in rectifying the original assessment order under Section 154. The disallowance of provision for leave encashment was in line with Supreme Court decisions, and the restriction of deduction for bad debts to the actual provision made was a mistake apparent from the record.
The Tribunal dismissed the appeal filed by the Revenue. This was primarily due to the low tax effect involved, which was below Rs. 10 lakhs, making the appeal not maintainable as per the relevant circular.
The Tribunal upheld the CIT(A)'s decision to allow a 15% deduction for the cost of liquor on unaccounted sales, stating that unaccounted sales must originate from unaccounted purchases. The Tribunal also directed the Assessing Officer to allow telescoping of income among group concerns.
The Tribunal dismissed the revenue's appeal in limine. It was held that the tax effect was below the threshold specified in the CBDT circular, and no exceptions applied, making the appeal not maintainable.
The Tribunal upheld the deletion of additions under Section 2(22)(e) as the assessee company was not a shareholder in the lending companies. The issue of un-reconciled AIR information was remitted back to the Assessing Officer for further examination.
The Tribunal held that the penalty was unjustified as the assessee was not given adequate time to comply with the notice, and there was no substantive non-compliance. The assessment was completed under Section 143(3), indicating subsequent compliance.
Since the primary addition that formed the basis for the penalty was deleted, the penalty under Section 271(1)(c) could not survive. The Tribunal therefore deleted the penalty.
The Tribunal deleted the penalty, directing the AO to re-initiate penalty proceedings after the set-aside proceedings are completed. The AO was instructed to provide the assessee with a proper opportunity to be heard.
The Tribunal upheld the CIT(A)'s decision to allow a 15% deduction for the cost of liquor on unaccounted sales, stating that unaccounted sales must originate from unaccounted purchases. The Tribunal also directed the Assessing Officer to allow telescoping of income among group concerns.
The Tribunal noted that the assessment orders for both years had been set aside by a previous ITAT order. Therefore, the penalty orders were also set aside as a consequential action.
The Tribunal upheld the CIT(A)'s decision to delete the additions. It noted that the Dispute Resolution Panel and the Tribunal itself had taken a similar view in subsequent and prior assessment years, respectively, regarding the non-taxability of such reimbursements and allowances.
The Tribunal held that the assessee had disclosed all particulars regarding the losses and there was no concealment or furnishing of inaccurate particulars. The claim was made under a bonafide belief, and the situation was revenue neutral as both the assessee and her father were in the same tax bracket.
The Tribunal held that the appeal was not maintainable as per CBDT Circular No. 21/2015, which mandates that appeals with a tax effect below Rs. 10 lacs should not be filed or pressed.
The Tribunal held that the assessee's plant and machinery and factory shed were not put to use for business purposes during the relevant assessment year. The reliance on case laws was found to be distinguishable from the present facts.
The Tribunal found that the assessee had already disclosed and suo moto disallowed an amount of Rs. 38,659/-. It was held that no further expenditure relatable to dividend income was attributable, and thus, the disallowance made by the AO and confirmed by the CIT(A) was deleted.
The Tribunal found that the orders of the lower authorities lacked proper adjudication and that the assessee was not given a reasonable opportunity of being heard. Therefore, the orders were set aside.
The Tribunal dismissed the ground regarding depreciation disallowance as not pressed. For the Section 14A disallowance, the Tribunal followed its own prior ruling in the assessee's own case for AY 2009-10, allowing the ground.
The Tribunal held that the appeal was not maintainable due to low tax effect, as the tax effect was below the prescribed limit of Rs. 10 lacs. The Tribunal dismissed the appeal without expressing any opinion on the merits of the case.
The Tribunal noted that the registration was denied due to the assessee's absence and agreed to give the assessee another opportunity. The DIT's order was set aside, and the case was remanded for fresh consideration.
The Tribunal restored the issue of TDS disallowance for one party to the AO for further examination, confirmed disallowances for two other parties, and dismissed the Revenue's appeal regarding the revised return.
The Tribunal noted that the lower authorities had not properly examined the issues. The Revenue's representative conceded that the issues could be remitted back to the AO for fresh assessment.
The Tribunal noted that the assessment orders for both years had been set aside by a previous ITAT order. Therefore, the penalty orders were also set aside as a consequential action.