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668 orders · Page 13 of 14
The Tribunal upheld the CIT(A)'s decision, finding that processing fees are in the nature of interest and bank guarantee commission does not fall under Section 194H. Consequently, the levy of interest under Section 201(1A) was also deleted.
The Tribunal decided that the issue was covered by its own previous decision for the same assessment year. The previous decision had remanded the matter back to the CIT(A) for adjudication on merits.
The Tribunal held that capital gains on immovable property situated in Sri Lanka are taxable only in Sri Lanka as per the DTAA. However, the income must be included in the assessee's total income in India, and relief granted to avoid double taxation.
The Tribunal held that for calculating the holding period of a property, the date of allotment or possession, supported by evidence like payment and allotment letter, should be considered, not just the date of registration. Therefore, the capital gains were long-term.
The Tribunal held that since the addition was deleted in the quantum proceedings by a previous order, the penalty levied on that disallowance cannot be sustained. Therefore, the penalty is deleted.
The Tribunal affirmed the disallowance made by the lower authorities as the assessee failed to provide material to justify not making any disallowance under Section 14A. The assessee's appeal was dismissed ex-parte.
The Tribunal held that the appeal was not pressed or withdrawn as its filing contravened the CBDT Circular dated 10/12/2015, which revised monetary limits for appeals.
The Tribunal affirmed the order of the CIT(A) and dismissed the assessee's appeal. The absence of the assessee during the hearing further supported the decision to uphold the CIT(A)'s findings.
The Tribunal upheld the CIT(A)'s decision to restrict disallowances based on the applicability of Section 172 and Board Circulars for payments to non-residents, and for partial disallowances on other expenses where evidence was lacking.
The Tribunal held that the CIT(A) took a hyper-technical view and should have condoned the entire 30-day delay, considering the family bereavement. The matter was restored to the CIT(A) for adjudication on merits.
The Tribunal held that the appeal filed by the Revenue was not maintainable as the tax effect was below the revised monetary limit of Rs. 10 lakhs, as per CBDT Circular No. 21/2015. Consequently, the appeal was dismissed.
The Tribunal upheld the CIT(A)'s decision to restrict disallowances based on the applicability of Section 172 and Board Circulars for payments to non-residents, and for partial disallowances on other expenses where evidence was lacking.
The Tribunal held that the notice under section 143(2) was invalid as it was issued before the filing of the return in response to the section 148 notice. Furthermore, the addition was made on surmises without specific evidence implicating the assessee.
The Tribunal held that the addition made by the Assessing Officer was incorrect as the assessee was not provided an opportunity to cross-examine the deponent of the affidavit. The order of the CIT(A) was set aside.
The Tribunal noted that the tax effect was below the monetary limit of Rs. 10 lakh for appeals before the ITAT, as per CBDT instructions. Therefore, the appeal was not maintainable.
The Tribunal held that for AY 2008-09, the disallowance under Section 14A needed fresh examination by the AO, considering the assessee's submissions regarding investments made from own funds and strategic acquisitions. For AY 2009-10, the Tribunal upheld the CIT(A)'s decision that no interest disallowance was warranted as the assessee's own funds exceeded investments.
The Tribunal agreed with the assessee's submission and found that the appeal was liable to be dismissed in limine based on the CBDT circular regarding monetary limits for appeals.
The Tribunal noted that the tax effect was below the monetary limit of Rs. 10 lakh for filing appeals before the ITAT as per CBDT instructions. Therefore, the appeal of the Revenue was not maintainable.
The Tribunal held that the reasons provided for the delay in filing the TDS returns constituted a reasonable cause. Therefore, the penalty levied was not sustainable under the law.
The Tribunal set aside the ex-parte order of the CIT(A) and remanded the matter back for fresh adjudication. The assessee was directed to appear before the CIT(A) within two months to present their case and furnish evidence.
The Tribunal found that the AO's disallowance of administrative expenditure was not proper. While the assessee claimed investments were from own funds, the Tribunal estimated a nominal disallowance for administrative expenses.
The Tribunal held that the assessee's appeals were barred by limitation as the delay was not condoned due to a conscious decision not to appeal earlier. However, the issue of PE was left open for future consideration.
The Tribunal accepted the assessee's declared GP ratio of 20.02% for the stock addition, subject to verification by the AO. For the cash addition, the issue was restored to the AO to verify if unrecorded cash sales were subsequently included in the books.
The Tribunal held that interest on borrowed capital is allowable as a deduction if the capital is used for business purposes, regardless of whether it's for revenue or capital purposes. The Tribunal found merit in the assessee's contention that the loan was utilized for business activities.
The Tribunal dismissed the appeal filed by the Revenue. The dismissal was based on the fact that the tax effect was below the prescribed monetary limit for filing appeals.
The Tribunal held that for AY 2008-09, the disallowance under Section 14A needed fresh examination by the AO, considering the assessee's submissions regarding investments made from own funds and strategic acquisitions. For AY 2009-10, the Tribunal upheld the CIT(A)'s decision that no interest disallowance was warranted as the assessee's own funds exceeded investments.
The Tribunal held that the levy of fees under Section 234E was beyond the scope of permissible adjustments under Section 200A. Therefore, the impugned levy of fees was unsustainable in law.
The Tribunal held that the levy of fees under Section 234E was beyond the scope of permissible adjustments under Section 200A. Therefore, the impugned levy of fees was unsustainable in law.
The Tribunal held that the levy of fees under Section 234E was beyond the scope of permissible adjustments under Section 200A. Therefore, the impugned levy of fees was unsustainable in law.
The Tribunal held that while the purchases might be considered bogus, since the sales were not doubted, a reasonable profit on these sales could be estimated. The profit rate was estimated at 10% instead of the assessee's declared 5%.
The Tribunal held that the levy of fees under Section 234E was beyond the scope of permissible adjustments under Section 200A. Therefore, the impugned levy of fees was unsustainable in law.
The Tribunal, following a coordinate bench's decision in the assessee's own case, reduced the penalty from 200% to 100% of the tax sought to be evaded. The Tribunal found the original penalty rate to be on the higher side.
The Tribunal, following a coordinate bench's decision in the assessee's own case, reduced the penalty from 200% to 100% of the tax sought to be evaded. The Tribunal found the original penalty rate to be on the higher side.
The Tribunal, following a coordinate bench's order in the assessee's own case, reduced the penalty from 200% to 100% of the tax sought to be evaded. The Tribunal found the original penalty to be on the higher side and that restricting it to 100% would meet the ends of justice.
The Tribunal, following a coordinate bench's decision in the assessee's own case, reduced the penalty from 200% to 100% of the tax sought to be evaded. The Tribunal found the original penalty rate to be on the higher side.
The Tribunal, following a coordinate bench's decision in the assessee's own case, reduced the penalty from 200% to 100% of the tax sought to be evaded. The Tribunal found the original penalty rate to be on the higher side.
The Tribunal upheld the deletion of Rs. 15,00,000/- as the source of funds from the HUF was found to be explained. However, the addition of Rs. 5,00,000/- was sustained due to lack of proper explanation from the assessee regarding the unsecured loans.
The Tribunal held that the AO exceeded jurisdiction by levying fees under Section 234E while processing statements under Section 200A. Such levy was beyond the scope of Section 200A and unsustainable in law.
The Tribunal held that the AO exceeded jurisdiction by levying fees under Section 234E while processing statements under Section 200A. Such levy was beyond the scope of Section 200A and unsustainable in law.
The Tribunal held that the AO exceeded jurisdiction by levying fees under Section 234E while processing statements under Section 200A. Such levy was beyond the scope of Section 200A and unsustainable in law.
The Tribunal held that the AO exceeded jurisdiction by levying fees under Section 234E while processing statements under Section 200A. Such levy was beyond the scope of Section 200A and unsustainable in law.
The Tribunal held that the reopening of assessment was invalid as it was based on a mere change of opinion, without any new material coming to the AO's notice. The original assessment was completed under Section 143(3) and the reopening was sought beyond four years without fulfilling the conditions stipulated in the proviso to Section 147.
The Tribunal upheld the deletion of Rs. 15,00,000/- as the source of funds from HUF was found to be explained. However, the addition of Rs. 5,00,000/- was confirmed due to lack of proper explanation from the assessee regarding the loans.
The Tribunal noted that the tax effect in the appeal was below the prescribed monetary limit for filing appeals before the ITAT. Therefore, the appeal was not maintainable.
The assessee's counsel, with instructions from the assessee, requested to withdraw the appeal. The department did not object to this request.
The Tribunal held that the penalty proceedings could not be sustained as the quantum assessment order, on which the penalty was based, had been set aside. A fresh penalty proceeding was initiated after a new assessment order was passed.
The Tribunal noted that the tax effect was below the monetary limit. The Departmental Representative also conceded this fact.
The Tribunal upheld the CIT(A)'s decision to delete the disallowance of interest under Section 14A, noting that the assessee had sufficient own funds and loans were secured for specific purposes. The Tribunal also upheld the deletion of addition under Section 145A, agreeing that the assessee's method of accounting for excise duty had a nil net effect.
The Tribunal held that the tax effect of the disputed amount was below the monetary limit prescribed by the CBDT for filing appeals before the ITAT. Therefore, the appeal was not maintainable.
The Tribunal noted that its previous order had already directed the lower authorities to re-examine the year of accrual and assessment of the income. Therefore, the current appeal against the rejection of a rectification application was dismissed as infructuous, as the matter was already sub-judice for fresh examination.