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382 orders · Page 5 of 8
The Tribunal held that while the purchases were not proven genuine, the sales were not doubted. The assessee's alternative plea of taxing the gross profit at 12.5% of the alleged purchases was considered reasonable, especially in light of the Bombay High Court's decision in PCIT vs S.V. Jiwani, which upheld a similar addition.
The Tribunal held that the issue regarding Section 10A deduction was covered by previous decisions in favor of the assessee and dismissed the revenue's appeals. For Section 14A disallowances, the Tribunal found that the assessee had offered a computation for indirect expenses incurred for earning exempt income, and following earlier precedents, restored the issue to the Assessing Officer for fresh examination.
The CIT(A) dismissed the assessee's appeal as inadmissible due to a 33-day delay and the absence of a condonation of delay application. The Tribunal noted the assessee's representative's submission for an opportunity to file the condonation application and decided to restore the appeal to the CIT(A) for fresh consideration.
The Tribunal held that income from the sale of off-the-shelf software is not taxable as royalty, following a Supreme Court decision. It also ruled that management fees did not qualify as FTS under Article 12(4) of the India-Singapore DTAA as the services did not 'make available' technical knowledge.
The Tribunal held that while the purchases were not proven genuine, the sales were not doubted. The assessee's alternative plea of taxing the gross profit at 12.5% of the alleged purchases was considered reasonable, especially in light of the Bombay High Court's decision in PCIT vs S.V. Jiwani, which upheld a similar addition.
The Tribunal held that the reassessment proceedings were invalid as the alleged income escaping assessment (Rs. 18,05,500/-) was less than the threshold of Rs. 50,00,000/- required under Section 149(1)(b) for reopening beyond three years. Consequently, the assessment order was quashed.
The Tribunal restored the appeal to the file of the CIT(A) to decide the issue afresh after giving the assessee an opportunity of hearing. The assessee was also directed to comply with future notices.
The Tribunal held that the issue regarding Section 10A deduction was covered by previous decisions in favor of the assessee and dismissed the revenue's appeals. For Section 14A disallowances, the Tribunal found that the assessee had offered a computation for indirect expenses incurred for earning exempt income, and following earlier precedents, restored the issue to the Assessing Officer for fresh examination.
The Tribunal held that the issue regarding Section 10A deduction was covered by previous decisions in favor of the assessee and dismissed the revenue's appeals. For Section 14A disallowances, the Tribunal found that the assessee had offered a computation for indirect expenses incurred for earning exempt income, and following earlier precedents, restored the issue to the Assessing Officer for fresh examination.
The Tribunal held that the issue regarding Section 10A deduction was covered by previous decisions in favor of the assessee and dismissed the revenue's appeals. For Section 14A disallowances, the Tribunal found that the assessee had offered a computation for indirect expenses incurred for earning exempt income, and following earlier precedents, restored the issue to the Assessing Officer for fresh examination.
The Tribunal found that the assessee claimed not to have received the notices from the CIT(A). Considering that the assessee had a vested interest in prosecuting the appeal and no merits were considered, a reasonable opportunity was granted.
The Tribunal held that the CIT (Exemptions) rightly rejected the application for registration as the assessee failed to provide the necessary documents and information within the stipulated time, despite being aware of the deadline.
The Tribunal admitted additional evidence submitted by the assessee, considering a recent Supreme Court judgment on similar expenses. The matter was restored to the Assessing Officer for fresh adjudication based on the new evidence and the Supreme Court's ruling.
The Tribunal held that the assessee's claim for business loss due to the contractor's failure was justified and should not have been restricted. The entire amount written off as a bad debt was allowed as a deduction.
The Tribunal held that the Assessing Officer could not make disallowances on grounds different from those for which reassessment proceedings were initiated, especially when the initial reason for reopening (waiver of interest under OTS) was not pursued under Section 41(1).
The Tribunal held that the bonus payment was a reward for the directors' dedicated efforts and increased turnover, distinguishing it from a dividend. The disallowance made by the Assessing Officer was deleted.
The Tribunal found that the CIT(A) had not made sufficient inquiries regarding the creditworthiness of the loan creditors, relying solely on the assessee's submissions. The Tribunal set aside the CIT(A)'s order and remanded the issue back for fresh adjudication.
The Tribunal found that while the assessee could not prove the genuineness of purchases from five parties, they did provide quantity and quality details, and corresponding sales. The Tribunal ruled that only the profit element embedded in such purchases should be added to income.
The Tribunal noted that the assessee had filed a response to the remand report submitted by the Assessing Officer. However, it was observed with surprise that the order of the Learned CIT(A) made no mention of this remand report. Considering the facts in totality, and in the interest of justice and fair play, the Tribunal deemed it fit to restore the entire matter to the file of the Assessing Officer. The assessee was directed to furnish all necessary evidence in support of the labour payments made to the five impugned parties. The Assessing Officer was directed to examine these evidences and decide the issue afresh after affording a reasonable opportunity of being heard to the assessee. The Tribunal explicitly stated that the appeal was allowed for statistical purposes.
The Tribunal held that the Assessing Officer's disallowance of 50% of expenses was ad hoc and lacked a specific finding of concealment or inaccurate particulars at the assessment stage. The penalty order invoked twin charges without proving both, making the levy improper.
The Tribunal noted that a similar issue for a previous assessment year (A.Y. 2017-18) was decided in favour of the assessee by the CIT(A), and the revenue did not appeal. Finding parity of facts, the Tribunal held that the deduction should be allowed for the current year as well.
The Tribunal allowed the appeal in part, directing the deletion of addition on account of interest disallowance and allowing the ground related to deemed rent. The issue of prior period expenses was set aside to the AO for fresh examination.
The Tribunal allowed the appeal in part, directing the deletion of addition on account of interest disallowance and allowing the ground related to deemed rent. The issue of prior period expenses was set aside to the AO for fresh examination.
The Tribunal held that the notice issued under Section 148 of the Income Tax Act was bad in law. The investigation report did not specifically mention the assessee as a beneficiary, and the AO's assumption was not supported by evidence. Consequently, the assessment order was quashed.
The Tribunal held that the AO's conclusion was based on general observations and lacked specific evidence against the assessee. The Tribunal noted the absence of any SEBI findings of manipulation or bans on trading for the shares in question.
The Tribunal held that the CIT(A)/NFAC erred in dismissing the appeal as infructuous without verifying the facts and submissions. The Tribunal noted that the partnership firm was dissolved prior to the assessment year in question, and its bank account was closed. The cash deposits were made in a proprietary concern of Rupa Mehta, which had a different PAN. The notice u/s.148 was issued to a non-existing entity, making it invalid.
The Tribunal held that the AO's conclusion was based on general observations and lacked specific evidence against the assessee. The Tribunal noted the absence of any SEBI findings of manipulation or bans on trading for the shares in question.
The Tribunal held that the delay in e-filing was a procedural defect and not a deliberate attempt to delay the proceedings. The Tribunal condoned the delay, acknowledging the inconvenience caused to the assessee by the new e-filing system. The Tribunal also referred to a Supreme Court judgment emphasizing that sufficient cause for condonation of delay should be interpreted liberally.
The Tribunal held that interest income earned by a co-operative society from its investments with co-operative banks is eligible for deduction under Section 80P(2)(d) of the Income Tax Act. The Tribunal followed its own previous decisions and Supreme Court pronouncements favoring the assessee.
The Tribunal noted that the assessee had requested adjournments to obtain records and was not served with a show-cause notice. Therefore, in the interest of justice, the matter was restored to the CIT(A) for adjudication on merits after giving the assessee an opportunity of hearing.
The Tribunal held that the assessee was denied a reasonable opportunity of hearing by the CIT(A). Therefore, the matter was remitted back to the CIT(A) for adjudication on merits.
The Tribunal found that the CIT(A) had not dealt with all contentions and that crucial documents were not considered. The Tribunal allowed the appeal, setting aside the CIT(A)'s order and remanding the issues back for fresh adjudication.
The Tribunal found that the Assessing Officer had proceeded based on information available with the department and support from Form 26AS. However, since the deductors had revised their TDS returns to show NIL payments to the assessee, this fact warranted verification by the Assessing Officer. In the interest of justice and fair play, the Tribunal set aside the matter to the file of the Assessing Officer. The Assessing Officer was directed to verify the revised Form 26AS and decide the issue afresh after providing a reasonable and adequate opportunity of being heard to the assessee. The Tribunal did not decide the issue on merit, as the primary reason for the appeal was the dismissal by the CIT(A) on procedural grounds.
The Tribunal held that the addition made by the AO was based on a deeming fiction and that the CIT(A) had correctly analyzed the business transactions. Since there was no evidence that the assessee paid more than the declared invoice amount, the addition under Section 69C was not justified.
The Tribunal held that the addition under section 69 was made primarily because the assessee failed to provide details to prove the genuineness of the impugned transactions. The assessee also did not appear before the CIT(A). The Tribunal decided to remit the issue back to the CIT(A) for fresh consideration in the interest of natural justice and fair play.
The Tribunal held that interest income earned by a co-operative society from its investments in co-operative banks is eligible for deduction under Section 80P(2)(d) of the Income Tax Act. The Tribunal followed its own coordinate bench decisions and Supreme Court pronouncements.
The Tribunal held that the assessee's working for disallowance under Section 14A had been accepted by the department in previous years. The AO failed to point out any defects in the assessee's working or justify the disallowance under Rule 8D.
The Tribunal held that interest income earned by a co-operative society from its investments with co-operative banks is eligible for deduction under Section 80P(2)(d) of the Income Tax Act. The Tribunal followed its own previous decisions and Supreme Court pronouncements favoring the assessee.
The Tribunal held that interest income earned by a co-operative society from its investments with co-operative banks is eligible for deduction under Section 80P(2)(d) of the Income Tax Act. The Tribunal followed its own previous decisions and Supreme Court pronouncements favoring the assessee.
The Tribunal held that Section 14A of the Income Tax Act is not applicable if no exempt income is received or receivable during the relevant previous year. The amendment made by the Finance Act 2022 to Section 14A, inserting a non-obstante clause, is not retrospective.
The Tribunal noted that the assessee claimed the amounts received were collections of earlier sales and returns of prior payments, not fresh cash credits. The ledger accounts supported this, and the issue required further examination. The CIT(A)'s order was set aside and the matter was restored to the AO for fresh assessment.
The Tribunal found that the assessee's Memorandum of Association allows for investment in or acquisition of companies engaged in similar activities, including setting up subsidiaries. The Tribunal restored the issue to the Assessing Officer for fresh examination.
The tribunal held that assessment proceedings initiated against a non-existent entity due to amalgamation are void ab initio, following the Supreme Court's ruling in Maruti Suzuki Ltd. However, it noted that the Supreme Court in PCIT vs. Mahagun Realtors Pvt Ltd distinguished this principle based on specific facts.
The Assessee/Appellant sought to withdraw the appeal to approach the High Court in writ jurisdiction. The Departmental Representative had no objection. The Tribunal allowed the withdrawal.
The Tribunal held that although the assessee provided details of his parents' bank accounts and his own bank statement showing no funds moved out for the investment, the CIT(A) upheld the addition due to the non-furnishing of the parents' bank statements. The Tribunal decided to give the assessee one more opportunity to furnish all relevant details and evidence before the AO for fresh consideration.
The Tribunal noted that the assessee had furnished some payment details but failed to provide the purchase deed and bank statements to the CIT(A), who confirmed the addition. The Tribunal restored the issue to the CIT(A) for fresh consideration in the interest of natural justice.
The Tribunal held that the CIT(A) erred in dismissing the appeal for non-compliance with Section 249(4) of the Act, as the conditions for paying advance tax in reassessment proceedings were not applicable. The impugned order was set aside.
The CIT(A) deleted the additions, relying on a previous Tribunal decision for the assessee's own case for AY 2015-16, finding the facts to be identical. The Tribunal agreed that generally, advances from interest-free funds are presumed to be out of such funds if available, and commercial expediency is not for the AO to question.
The Tribunal noted that the CIT(A) dismissed the appeal ex-parte due to the assessee's non-appearance despite opportunities. However, considering the principles of natural justice, the Tribunal decided to provide one more opportunity to the assessee to present their case.
The Tribunal condoned the delay in filing the assessee's appeal due to bonafide reasons. The Tribunal also discussed the legal implications of issuing notices and assessment orders to entities that have amalgamated, referencing Supreme Court judgments.