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459 orders · Page 2 of 10
The Tribunal held that for unabated assessments, additions under Section 153C require incriminating material found during a search. The issue of whether the assessment was abated was restored to the CIT(A) for fresh adjudication.
The Tribunal held that for unabated assessments, additions could only be made if supported by incriminating material found during the search. Since no such material was found for the additions made, the additions were not sustainable.
The Tribunal held that the Supreme Court's decision in Checkmate Services Private Ltd. applies retrospectively, making the disallowance under Section 143(1) valid. Explanations to Sections 36(1)(va) and 43B are clarificatory, and the tax audit report disclosure now indicates a disallowance.
The Tribunal noted that disallowance under Section 14A is not warranted if the assessee has not earned any exempt income. However, since it was not discernible from the record, the matter was remanded to the AO for verification.
The Tribunal held that while there was a violation of Section 13(1)(c), the exemption under Section 11 should only be denied to the extent of the violation, not in its entirety. The disallowance of foreign travel expenses was restricted to 50% as admitted.
The Tribunal held that the issue of taxability of the superannuation fund contribution required detailed verification by the Assessing Officer to determine if it was employer's or employee's contribution. The disallowance of Provident Fund contribution was not disputed.
The Tribunal held that for unabated assessments, additions could only be made if supported by incriminating material found during the search. Since no such material was found for the additions made, the additions were not sustainable.
The Tribunal condoned the delay in filing the appeals due to the assessee's medical condition. For assessment years 2012-13 to 2014-15, the matter was restored to the Assessing Officer for fresh adjudication due to additional evidence. For earlier years, the Tribunal partly allowed the appeals.
The Tribunal held that the CIT(A) was not justified in dismissing the appeal solely on the ground of a PAN mismatch. The substantial issue of examining the source of credit under Section 68 was not addressed by the lower authorities.
The Tribunal held that the Revenue failed to establish any nexus between the assessee and the alleged entry operators or price rigging activities. The AO's additions were based on suspicion without cogent evidence linking the assessee to any fraudulent scheme.
The Tribunal held that the jewellery and cash found were not unexplained, considering the CBDT Instruction No. 1916 and the customary practices in India. The benefit of the limits prescribed in the CBDT Circular should be given.
The Tribunal held that for unabated assessments, additions could only be made if supported by incriminating material found during the search. Since no such material was found for the additions made, the additions were not sustainable.
The Tribunal held that the disallowance made by the authorities below needs to be confirmed. This is in accordance with the Supreme Court's decision in Checkmate Services Pvt. Ltd. Vs. CIT, which states that employee's contribution to PF/ESIC must be deposited within the due date prescribed by the respective Acts to be eligible for deduction.
The Tribunal condoned the delay in filing the appeal, citing the negligence of the consultant and the principle of substantial justice. It held that when sales are genuine, the addition for bogus purchases should be limited to the profit element, not the entire purchase amount.
The Tribunal condoned the delay in filing the appeals due to the assessee's medical condition. For assessment years 2012-13 to 2014-15, the appeals were partly allowed and restored to the Assessing Officer for fresh adjudication due to additional evidence. For earlier years, the appeals were also partly allowed.
The Tribunal held that the addition made under Section 69 was unsustainable. It reasoned that the assessee, being a resident of Muscat with income sources outside India, was protected by the India-Oman Double Taxation Avoidance Agreement (DTAA), specifically Article 24, which stated that certain income items are taxable only in the contracting state of residence.
The Tribunal held that for unabated assessments, additions under Section 153C require incriminating material found during a search. The issue of whether the assessment was abated was restored to the CIT(A) for fresh adjudication.
The Tribunal held that for unabated assessments, additions could only be made if supported by incriminating material found during the search. Since no such material was found for the additions made, the additions were not sustainable.
The Tribunal found that the CIT(A) had not properly considered the additional evidence submitted by the assessee, such as monthly stock and sales registers. Therefore, the case was set aside to the Assessing Officer for fresh adjudication.
The Tribunal allowed the assessee's appeals for statistical purposes, indicating that the disallowance of interest expenditure under Section 36(1)(iii) was not entirely justified. The Revenue's appeals were dismissed.
The Tribunal held that for unabated assessments, additions under Section 153C require incriminating material found during a search. The issue of whether the assessment was abated was restored to the CIT(A) for fresh adjudication.
The Tribunal dismissed the appeal regarding interest cost, following a co-ordinate bench decision. However, it allowed the appeal concerning commission and brokerage, also based on a previous tribunal ruling against the assessee.
The Tribunal dismissed the appeal regarding interest cost, following a co-ordinate bench decision. However, it allowed the appeal concerning commission and brokerage, also based on a prior tribunal ruling. The addition on account of deemed rent was dismissed.
The Tribunal held that the adjustment made under section 143(1) disallowing the late payment of employee's contribution to PF and ESIC is permissible. This is in line with the Supreme Court's ruling in the Checkmate Services case, which emphasizes timely deposit of employee contributions.
The Tribunal held that for unabated assessments, additions could only be made if supported by incriminating material found during the search. Since no such material was found for the additions made, the additions were not sustainable.
The Tribunal found that the CIT(A)'s deletion of the addition was without basis as the Assessing Officer's subsequent order under Section 143(3) did not address the specific disallowances made under Section 43B and employee's contribution. Therefore, the matter was restored for fresh adjudication.
The Tribunal held that the software expenses were revenue in nature and that the assessee had sufficient interest-free funds to cover advances to suppliers, making the interest disallowance unsustainable. The assessee's cross-objections regarding excess Dividend Distribution Tax refund were also dismissed.
The Tribunal found that the AO and CIT(A) did not properly examine the cash book, bank statements, and other documents submitted by the assessee. The Tribunal noted that the opening cash balance from the previous year was substantial and should have been considered.
The Tribunal upheld the disallowance based on the Supreme Court's decision in M/s. Checkmate Services Pvt. Ltd. However, it remanded the matter to the AO to verify if the disallowance should be restricted to Rs. 7,07,735/- as contended by the assessee.
The Tribunal held that employee's contribution to PF/ESIC deposited after the due date under the relevant Acts is not allowable as a deduction in terms of Section 36(1)(va) of the Income Tax Act. The amended provisions are considered clarificatory and apply retrospectively.
The Tribunal held that the ULIP in question qualifies as a 'capital asset' under Section 2(14) of the Income Tax Act. Consequently, the accretion on its surrender should be taxed under the head 'income from capital gains', not 'income from other sources'.
The Tribunal held that no disallowance of interest expenditure was required as the assessee's own funds exceeded its tax-free investments. It also held that interest paid on delayed government payments is compensatory and deductible, and that disallowance under Section 40(a)(ia) was not warranted when provisions for expenses were reversed and offered to tax in the subsequent year.
The Tribunal held that dividend distribution tax under Section 115-O is on the domestic company, not the shareholder. Therefore, the DTAA rate for the shareholder is not applicable to this tax.
The Tribunal held that the transaction was a journal entry transferring an existing debt and not a fresh credit entry of funds during the relevant assessment year. Therefore, Section 68 was not applicable. The Tribunal also noted that the Revenue failed to provide cogent evidence to prove the transaction was bogus.
The Tribunal found that the appeal was decided ex-parte without considering the assessee's submissions. Since the assessee expressed willingness to cooperate, the appeal was restored to the CIT(A) for fresh adjudication.
The Tribunal held that telecommunication charges are not to be excluded from export turnover as they are related to software development services, not delivery. However, foreign currency expenses need to be examined for their nexus with technical services provided outside India.
The Tribunal held that the Transfer Pricing Officer's order was indeed passed beyond the limitation period, thus invalidating it. Regarding the reimbursement claim, the Tribunal found insufficient evidence and remanded the issue back to the Assessing Officer for fresh adjudication.
The Tribunal held that the AO failed to record valid dissatisfaction with the assessee's suo-moto disallowance and did not provide specific reasons for invoking Rule 8D. Therefore, the disallowance made by the AO and confirmed by the CIT(A) was not sustainable.
The Tribunal held that the reopening of the assessment was invalid as it was done after four years and there was no failure on the part of the assessee to disclose material facts. Consequently, the assessment order was quashed.
The Tribunal held that the employee's contribution to PF/ESI must be deposited within the due date prescribed by the respective Acts to be eligible for deduction. Relying on the Supreme Court's decision in Checkmate Services Pvt. Ltd., the disallowance was confirmed.
The Tribunal admitted additional grounds regarding the validity of the computation sheet and demand notice. It upheld the disallowance for delayed employee PF/ESI deposits but remanded the issue of employer's contribution for verification.
The Tribunal held that for allowing deduction of employee's contribution to PF/ESI, it must be deposited within the due date prescribed by the respective Acts. Failure to do so disentitles the assessee to the deduction.
The Tribunal held that the date of acquisition for determining LTCG is the date of allotment, not the date of possession or registration. Therefore, the assessee was entitled to LTCG.
The Tribunal held that disallowance under Section 14A cannot exceed the exempt income, following jurisdictional High Court decisions. It also deleted disallowances where the assessee had not claimed dividend income as exempt. The discrepancy issue for AY 2014-15 was restored to the AO, and the disallowance for AY 2020-21 was deleted as the amount was already offered to tax.
The Tribunal held that the Supreme Court's decision in Checkmate Services Private Ltd. applies retrospectively, making the disallowance under Section 143(1) valid. Explanations to Sections 36(1)(va) and 43B are clarificatory, and the tax audit report disclosure now indicates a disallowance.
The Tribunal held that the assessee's business had commenced, citing previous ITAT orders in the assessee's own case for earlier assessment years. The Tribunal found sufficient evidence of business commencement and continuation, including land development agreements and project pipelines.
The Tribunal upheld the CIT(A)'s decision, allowing the deduction for unamortized brokerage expenses as the business was discontinued and the expense was incurred in the relevant year. It also allowed the ESOP expenses, considering them as actual staff welfare expenditure incurred for employee retention and motivation.
The Tribunal upheld the disallowance of the director's education expenses. It found that the assessee failed to demonstrate how the course, particularly in international business management for a trading company with no foreign presence, was directly and exclusively for the company's business.
The Tribunal found that the CIT(A) had rejected the assessee's appeal without analyzing the merits of the case. Therefore, the case was remanded back to the CIT(A) for a fresh decision on merit after providing the assessee with a reasonable opportunity of being heard.
The Tribunal held that the AO failed to disprove the genuineness of the loan transaction despite the assessee providing sufficient documentary evidence. The addition under Section 69A was incorrect as the transaction was recorded in the books and the assessee offered a satisfactory explanation.