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460 orders · Page 2 of 10
The Tribunal held that the assessee was a non-resident based on the days spent outside India. Therefore, income or deposits in a foreign bank account of a non-resident cannot be taxed in India.
The Tribunal upheld the CIT(A)'s decision to delete the addition, finding that the long holding period and moderate price increase supported the genuineness of the transaction. The revenue's appeal was dismissed.
The Tribunal held that Section 153C proceedings can only be initiated based on documents seized during a search under Section 132, not those impounded during a survey under Section 133A. Therefore, the assessments made under Section 153C were not sustainable.
The Tribunal held that the assessment proceedings were required to be initiated under Section 153C read with Section 153A of the Act, not under Section 144. Therefore, the assessment order passed under Section 144 was quashed.
The Tribunal upheld the disallowance of miscellaneous expenses as no vouchers were provided. For business development expenses, it was held that the assessee failed to establish they were incurred exclusively for business purposes, especially given the lack of business income.
The Tribunal followed its previous decisions, holding that the receipts were not taxable in India as royalty or fees for included services. The Tribunal also noted that the tax authorities had not sufficiently examined the nature of services actually provided.
The Tribunal held that the assessee's claim for deduction under Section 10A was valid, as the change from Section 10B to 10A was due to a bonafide belief and a technical error, not a change in business. The Tribunal also directed the AO to charge interest under Section 234B only up to the date of the original assessment order.
The Tribunal considered the application for withdrawal of the appeal. Since the legal heirs stated there was no outstanding demand and wished to withdraw, the Tribunal allowed their request.
The Tribunal restored the issue of Section 14A disallowance to the Assessing Officer for verification of double disallowance. The disallowance for delayed ESI/PF payment was upheld following the Supreme Court's decision in Checkmate Services P. Ltd.
The Tribunal held that the AO's reasons for reopening were based on incorrect facts and a 'right to suspect' rather than a 'right to believe'. The AO also failed to provide sufficient time for the assessee to respond to objections, violating High Court guidelines.
The Tribunal, following its co-ordinate bench's decision in the assessee's own case for earlier years, held that most of the 'other incomes' were derived from the eligible industrial undertaking and thus eligible for deduction under Section 80IA. The initiation of penalty proceedings was deemed premature.
The Tribunal admitted the additional evidence and found that the issue was not decided on merits by the CIT(A). Therefore, the case was restored to the CIT(A) for fresh adjudication.
The Tribunal noted that the CIT(A) dismissed the appeal ex-parte without considering the merits of the case, despite the assessee raising grounds challenging the denial of deduction under Section 80P. The Tribunal set aside the CIT(A)'s order and remitted the issues back to the Assessing Officer for fresh adjudication.
The Tribunal set aside the order of the CIT(A) and remitted the matter back to the Assessing Officer for fresh adjudication. The assessee was granted an opportunity to present its case with evidence, adhering to the principles of natural justice.
The Tribunal held that since the substantive additions were sent back for fresh adjudication, the protective additions in the hands of the assessee should also be restored to the CIT(A) for a combined decision.
The Tribunal found that the NFAC passed ex-parte orders without providing the assessee an opportunity to be heard, violating principles of natural justice. Consequently, the matters were restored to the NFAC for fresh adjudication.
The Tribunal held that since the income was duly offered to tax in the subsequent assessment year and taxes were paid on it, the addition made by the AO was not justified. The Tribunal followed its previous decisions and decisions of higher courts on similar matters.
The Tribunal held that interest income earned by a cooperative society from deposits with a cooperative bank is eligible for deduction under Section 80P(2)(d). They relied on various High Court and Tribunal decisions supporting this view.
The Tribunal held that the AO failed to dispose of the assessee's objection against the reopening of assessment before passing the reassessment order. This action was found to be bad in law, violating binding judicial precedents.
The Tribunal held that since the substantive additions were sent back for fresh adjudication, the protective additions in the hands of the assessee should also be restored to the CIT(A) for a combined decision.
The Tribunal noted that a similar issue concerning the same property was decided in favour of another trust by this Tribunal. The Tribunal held that the addition made under Section 50C was not sustainable in light of the previous decision.
The Tribunal found that the CIT(A)'s order was cryptic and non-speaking, as it appeared to have not properly considered the documentary evidence submitted by the assessee. Therefore, the case was restored to the CIT(A) for fresh adjudication.
The Tribunal held that the assessee had provided sufficient documentary evidence, including purchase invoices, lorry receipts, and weigh bills, which were also verified by state authorities. The Tribunal found no discrepancy in the quantitative tally of purchases and consumption, and therefore, the purchases could not be considered bogus solely based on the supplier's admission of providing accommodation entries.
The Tribunal, following its co-ordinate bench's decision in the assessee's own case for earlier years, held that most of the 'other incomes' were derived from the eligible industrial undertaking and thus eligible for deduction under Section 80IA. The initiation of penalty proceedings was deemed premature.
The Tribunal held that the matter of the amount of loss eligible for carry-forward should be restored to the Assessing Officer for proper adjudication. The assessee should be given an adequate opportunity of being heard.
The Tribunal admitted additional evidence filed by the assessee and found that the assessee did not get a proper opportunity to present documents before the CIT(A). Therefore, the CIT(A)'s order was set aside.
The Tribunal held that the CIT(A) correctly dismissed the physical appeals as mandatory e-filing rules were in effect. However, it noted that if there was a delay in e-filing, it should be condoned, and the appeals should be adjudicated.
The Tribunal held that the IDC charges, other service charges (referral fees), and member login fees are not in the nature of royalty under the India-Singapore DTAA. This decision was based on previous rulings by coordinate benches in the assessee's own cases for preceding assessment years.
The Tribunal held that the CIT(A)'s decision on the transfer pricing issue was in line with previous Tribunal and High Court rulings, which were also upheld by the Supreme Court. The Tribunal also upheld the deletion of Section 14A disallowance as no exempt income was earned.
The Tribunal held that Section 153C proceedings can only be initiated based on documents seized during a search under Section 132, not those impounded during a survey under Section 133A. Therefore, the assessments made under Section 153C were not sustainable.
The Tribunal admitted the additional evidence, finding it necessary for a proper adjudication of the issue. The matter was restored to the Assessing Officer for fresh consideration.
The Tribunal held that the issue of TDS credit requires verification at the Assessing Officer's level. The matter was restored to the Assessing Officer for allowing credit of TDS, with an opportunity for the assessee to be heard.
The Tribunal held that unrealized foreign exchange loss is allowable as a deduction based on mercantile accounting and mark-to-market principles. It also held that ESOP expenses are deductible under Section 37(1) as they represent an ascertained business liability incurred for employee incentivization.
The Tribunal held that once the first order was uploaded and communicated to the assessee, it became final. The AO had no authority to issue a second order without setting aside the first. Therefore, the second order was invalid.
The Tribunal upheld the disallowance of sales promotion expenses, finding that the assessee failed to provide evidence of actual services rendered by Goldmoon Commodeal Pvt. Ltd. The reopening of assessment was also deemed valid as it was based on fresh information.
The Tribunal held that the CIT(A) correctly allowed the assessee's claim for deduction under Section 43B, exercising co-terminus powers. The Tribunal clarified that appellate authorities can entertain claims not made before the Assessing Officer, referencing Supreme Court judgments that did not negate this power.
The Tribunal held that the CIT(A) correctly allowed the assessee's claim for deduction under Section 43B, exercising co-terminus powers. The Tribunal clarified that appellate authorities can entertain claims not made before the Assessing Officer, referencing Supreme Court judgments that did not negate this power.
The Tribunal upheld the CIT(A)'s decision to grant partial relief on repairs and maintenance, noting rational consideration of vouchers and cheque payments. The issue of interest payment was restored to the AO for verification.
The Tribunal held that the CIT(A) correctly allowed the assessee's claim for deduction under Section 43B, exercising co-terminus powers. The Tribunal clarified that appellate authorities can entertain claims not made before the Assessing Officer, referencing Supreme Court judgments that did not negate this power.
The Tribunal held that Section 50C of the Income Tax Act applies only when the stamp duty valuation is higher than the declared sale consideration. Since the stamp duty authority accepted the declared value, the AO's attempt to substitute it with DVO valuation was incorrect. The Tribunal allowed the assessee's appeal and dismissed the revenue's appeal.
The Tribunal, relying on Supreme Court decisions regarding deductions from gross total income, directed the AO to allow the claim of deduction out of the gross total income. The revenue's appeals were dismissed, and the assessee's cross-objections were partly allowed.
The Tribunal, relying on Supreme Court decisions regarding deductions from gross total income, directed the AO to allow the claim of deduction out of the gross total income. The revenue's appeals were dismissed, and the assessee's cross-objections were partly allowed.
The Tribunal held that Section 50C is not applicable to the transfer of leasehold rights, upholding the deletion of the addition. For the shares, the Tribunal agreed that the AO could not substitute the actual consideration with a notional one as there was no specific provision at the time.
The Tribunal partly allowed the Revenue's appeal for AY 2010-11 and 2011-12. Specifically, the disallowance under Section 14A was restricted to the extent of exempted income, and other grounds were allowed for statistical purposes.
The Tribunal held that Section 50C of the Income Tax Act applies only when the stamp duty valuation is higher than the declared sale consideration. Since the stamp duty authority accepted the declared value, the AO's attempt to substitute it with DVO valuation was incorrect. The Tribunal allowed the assessee's appeal and dismissed the revenue's appeal.
The Tribunal held that the assessment under Section 153A was invalid without incriminating material found during the search. Regarding the demonetization period, the Tribunal found that the assessee had sufficient cash balance and cash sales to support the deposits, upholding the CIT(A)'s deletion.
The Tribunal found that the assessee was not aware of the notices due to the company's closure. The CIT(A) had not decided the appeal on merits, hence the matter was remitted back for a fresh decision.
The Tribunal held that the assessment under Section 153A was invalid without incriminating material found during the search. Regarding the demonetization period, the Tribunal found that the assessee had sufficient cash balance and cash sales to support the deposits, upholding the CIT(A)'s deletion.
The Tribunal held that a defect in the penalty notice, where inapplicable portions were not struck off, vitiates the penalty order, even if the assessment order indicated the specific charges. This is based on pronouncements by the Bombay High Court and the dismissal of a related SLP by the Supreme Court.
The Tribunal upheld the CIT(A)'s decision to grant partial relief on repairs and maintenance, noting rational consideration of vouchers and cheque payments. The issue of interest payment was restored to the AO for verification.