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684 orders · Page 3 of 14
The Tribunal noted that the assessee failed to provide sufficient evidence to establish that the lands were indeed stock-in-trade. However, due to a lack of effective representation and opportunity before the lower authorities, the matter was remanded back to the AO for a fresh adjudication.
The Tribunal noted that the assessee's appeals were dismissed by the First Appellate Authority solely on the grounds of delay. The assessee attributed the delay to their erstwhile authorized representative's mishandling of the case. The Tribunal opined that the interest of justice would be better served by allowing the assessee an opportunity to explain the delay.
The Tribunal noted that the assessee's appeals were dismissed by the First Appellate Authority solely on the grounds of delay. The assessee attributed the delay to their erstwhile authorized representative's mishandling of the case. The Tribunal opined that the interest of justice would be better served by allowing the assessee an opportunity to explain the delay.
The Tribunal noted the assessee's failure to comply with notices but, considering the need for proper adjudication, decided to remand the case. The remand is conditional on the assessee depositing Rs. 11,000.
The Tribunal noted that the assessee's appeals were dismissed by the First Appellate Authority solely on the grounds of delay. The assessee attributed the delay to their erstwhile authorized representative's mishandling of the case. The Tribunal opined that the interest of justice would be better served by allowing the assessee an opportunity to explain the delay.
The Tribunal noted that the assessee's appeals were dismissed by the First Appellate Authority solely on the grounds of delay. The assessee attributed the delay to their erstwhile authorized representative's mishandling of the case. The Tribunal opined that the interest of justice would be better served by allowing the assessee an opportunity to explain the delay.
The Tribunal upheld the CIT(A)'s decision, finding that the reassessment was based on a "borrowed satisfaction" and a "change of opinion" as the same material was considered during the original assessment. Additionally, the notice issued under section 148 was found to be time-barred.
The Tribunal found the rejection to be based on a hyper-technical approach. The Tribunal decided to set aside the impugned order and remand the case back to the Commissioner for a decision on merit, considering the application filed by the assessee under the specified sub-clauses of Section 12A(1)(ac).
The Tribunal noted that the assessee's appeals were dismissed by the First Appellate Authority solely on the grounds of delay. The assessee attributed the delay to their erstwhile authorized representative's mishandling of the case. The Tribunal opined that the interest of justice would be better served by allowing the assessee an opportunity to explain the delay.
The Tribunal held that the notice issued under section 148 was barred by limitation, following the jurisdictional High Court's decision which interpreted the Supreme Court's ruling on the 'surviving period'. Consequently, the reassessment order was quashed.
The Tribunal held that additions cannot be made solely on third-party information without corroborative evidence pertaining to the assessee. The denial of cross-examination also violated principles of natural justice.
The Tribunal held that additions cannot be made solely on third-party information without corroborative evidence pertaining to the assessee. The denial of cross-examination also violated principles of natural justice.
The Tribunal held that the appeals did not raise any substantial question of law. It found that the lower authorities failed to discharge the basic onus of proving the transactions were not genuine, relying on the assessee's documentary evidence and the fact that SEBI had not passed adverse orders against the assessee.
The Tribunal held that the assessee had a strong financial profile with substantial past income, making the cash deposits plausible. It found that the explanation of withdrawals made during the COVID-19 pandemic for medical emergencies was inherently probable. The Tribunal emphasized that the burden lay with the Revenue to prove that the withdrawn cash was utilized for other purposes, which they failed to do. The CIT(A) had erred by adopting a restrictive approach and not considering withdrawals from prior years and the cumulative family pool.
The Tribunal held that the principle of "sufficient cause" for condoning delay should be liberally construed to advance substantial justice. The Tribunal found that the delay was not inordinate and the assessee deserved another opportunity to explain it.
The Tribunal held that the Commissioner erred in not affording the Assessee a reasonable opportunity of being heard before deciding the application for condonation of delay and the first appeal. Therefore, the impugned order was set aside.
The Tribunal held that the assessee had filed the first appeal within the limitation period in physical form and that the subsequent online filing was due to the introduction of the e-filing mechanism. It was also noted that the Commissioner did not provide an opportunity of being heard to the assessee.
The Tribunal held that the assessee's financial profile was robust, and the deposits were not disproportionate to his earnings. It was established that cash was withdrawn during prior financial years for medical emergencies, and the revenue failed to prove that these withdrawn funds were used for other purposes. The lower authorities erred in rejecting the assessee's explanation based on mere assumptions.
The Tribunal noted that the Assessing Officer did not dispose of the Assessee's objections by way of a separate speaking order and proceeded to pass the assessment order. Following the judgment of the Hon'ble Bombay High Court in Kesar Terminals and Infrastructure Limited, the Tribunal quashed the Assessment Order.
The Tribunal held that the reassessment proceedings were invalid due to improper sanction obtained from the PCIT instead of the PCCIT/CCIT as required by Section 151 of the Act. Consequently, the revisionary order under Section 263, which was based on these invalid proceedings, was also set aside.
The Tribunal condoned the delay, subject to a cost of ₹33,000/-, due to reasonable and bona fide causes and the principles of natural justice. The impugned order of the CIT(A), which was passed ex parte, was set aside, and the matter was restored for fresh adjudication.
On the issue of addition under section 68, the Tribunal noted that EFX is an investment holding entity whose financial statements would reflect investments rather than operational income. The Tribunal found that the assessee had provided audited financial statements of EFX, which disclosed the investment in the assessee company. The remittance was supported by FIRC and RBI acknowledgements. The Tribunal held that the Assessing Officer's conclusion that EFX lacked financial capacity based solely on its income statement was flawed, as it did not consider the nature of an investment holding company and the source of funds for such entities. The Tribunal found that the assessee had discharged its onus by providing sufficient documentation, and the addition under section 68 was deleted. On the issue of disallowance under section 40A(2)(b), the Tribunal observed that the Assessing Officer's conclusion of a mismatch was based on comparing Form 26AS gross receipts with only the revenue expenditure, ignoring capitalised amounts. The assessee's reconciliation, supported by audited schedules, demonstrated that the total transaction value with ESS was close to the gross receipts reported in Form 26AS, with a nominal difference after adjustments. The Tribunal held that section 40A(2)(b) requires an opinion based on objective material and a comparative yardstick, which was absent. Since the mismatch was reconciled, the substratum of the disallowance was rendered infirm. The disallowance of Rs. 4,30,91,544/- was directed to be deleted. The same finding was applied mutatis mutandis to AY 2012-13.
The assessee requested permission to withdraw the appeal as the grievance raised no longer survived due to the rectification order. The Ld. DR did not object to the withdrawal. The Tribunal permitted the assessee to withdraw the appeal.
The Tribunal found that while the assessee claimed to have submitted various documents, neither the AO nor the CIT(A) discussed them. The Tribunal also noted that the AO did not establish the cash trail or how the assessee benefited from the loan. Therefore, the issue was restored to the AO for reconsideration.
The Tribunal allowed the appeal, holding that the addition was unsustainable as it relied solely on third-party statements without corroborative evidence. The Tribunal noted the violation of natural justice due to the denial of cross-examination and non-furnishing of seized material.
The Tribunal held that the notice issued under Section 148 of the new regime was time-barred as it was issued beyond the surviving period calculated as per the Supreme Court's judgment in Union of India vs. Rajeev Bansal. Consequently, the reassessment proceedings and the assessment order were quashed.
The Tribunal noted that while the assessee was negligent, the interest of substantial justice requires considering the evidence. Therefore, the matter was restored to the CIT(A) for fresh adjudication, with a direction to the assessee to provide all required details and evidence without unnecessary adjournments.
The Tribunal held that the addition was unsustainable as it was made solely on the basis of third-party statements without corroborative evidence. The Tribunal also noted the breach of principles of natural justice due to the denial of cross-examination and non-furnishing of relied-upon material to the assessee.
The Tribunal held that a section 143(1) order does not automatically merge with a section 143(3) order unless the issues are common. The disallowance was based on the tax audit report, which might have mistakenly included employer's contribution with employee's contribution.
The Tribunal found the assessee's explanation for the delay in filing the appeal before the CIT(A) to be justifiable. Consequently, the Tribunal remanded the matter back to the Assessing Officer for a fresh assessment ('denovo assessment') to allow the assessee an opportunity to present her case on merits.
The Tribunal condoned the 18-day delay in filing the appeal, deeming it inadvertent and bonafide. Following the precedent set by the Bombay High Court in similar cases, the Tribunal held that issuing notices and orders in the name of a deceased person, when the department is aware of the death, renders such proceedings null and void.
The Tribunal held that the CIT(A) correctly deleted the addition as the assessee followed a consistent method of revenue recognition accepted in prior years. The AO's reliance on a partial occupancy certificate was misplaced, and the revenue was eventually recognized in subsequent years.
On the issue of addition under section 68, the Tribunal noted that EFX is an investment holding entity whose financial statements would reflect investments rather than operational income. The Tribunal found that the assessee had provided audited financial statements of EFX, which disclosed the investment in the assessee company. The remittance was supported by FIRC and RBI acknowledgements. The Tribunal held that the Assessing Officer's conclusion that EFX lacked financial capacity based solely on its income statement was flawed, as it did not consider the nature of an investment holding company and the source of funds for such entities. The Tribunal found that the assessee had discharged its onus by providing sufficient documentation, and the addition under section 68 was deleted. On the issue of disallowance under section 40A(2)(b), the Tribunal observed that the Assessing Officer's conclusion of a mismatch was based on comparing Form 26AS gross receipts with only the revenue expenditure, ignoring capitalised amounts. The assessee's reconciliation, supported by audited schedules, demonstrated that the total transaction value with ESS was close to the gross receipts reported in Form 26AS, with a nominal difference after adjustments. The Tribunal held that section 40A(2)(b) requires an opinion based on objective material and a comparative yardstick, which was absent. Since the mismatch was reconciled, the substratum of the disallowance was rendered infirm. The disallowance of Rs. 4,30,91,544/- was directed to be deleted. The same finding was applied mutatis mutandis to AY 2012-13.
The Tribunal held that the assessee had demonstrated a reasonable cause for the failure to file the return within the prescribed time, citing the timely filing of the tax audit report and disclosure of financial information. The penalty was deemed unsustainable as the essential conditions for invoking section 271(1)(c) were not fulfilled.
The Tribunal held that the addition was unsustainable as it was made solely on the basis of third-party statements without corroborative evidence. The Tribunal also noted the breach of principles of natural justice due to the denial of cross-examination and non-furnishing of relied-upon material to the assessee.
The Tribunal acknowledged the assessee's submission regarding the delay and the reasons provided, including the son's critical medical condition. Citing the judgment in Collector of Land Acquisition Vs. Mst. Katiji & others AIR 1987 1353 (SC), the Tribunal condoned the delay of 286 days. The impugned order of the CIT(A) was set aside, and the issues were restored to the Assessing Officer for fresh adjudication.
The Tribunal found it inconsistent that the CIT(A) condoned the delay in the penalty appeal but not the quantum appeal on similar grounds. The Tribunal restored both matters to the CIT(A) for reconsideration of the delay condonation, citing the need for substantial justice.
The Tribunal held that the difference between the purchase consideration and the stamp duty value was 3.98%, which falls within the tolerance band of 5% (and later 10%) introduced by the legislature. The insertion of the tolerance band is remedial and curative, and its benefit should be extended to the assessee.
The Tribunal held that Punjab and Maharashtra Co-operative Bank was a scheduled bank for the assessment year in question. Therefore, interest paid to it was disallowable under Section 43B if not paid before the due date of filing the return, even prior to the specific inclusion of cooperative banks in Section 43B.
The Tribunal held that disallowing TDS credit solely because a portion of gross salary was exempt or not offered to tax is legally flawed. The tax deducted on the entire payment cannot be denied if part of it is legally exempt.
The Tribunal observed that the error was clerical and technical, not a failure to comply with the substance of the law. Citing various judicial precedents, it was held that condoning the delay in filing Form 10-IC is appropriate to provide justice and avoid rejection on technicalities.
The Tribunal held that additions cannot be made solely on third-party electronic data without corroboration and without providing an opportunity for cross-examination. The reliance on uncertified electronic evidence under Section 65B of the Evidence Act was also deemed impermissible.
The Tribunal held that additions cannot be made solely on third-party electronic data without corroboration and without providing an opportunity for cross-examination. The reliance on uncertified electronic evidence under Section 65B of the Evidence Act was also deemed impermissible.
The Tribunal noted that the assessee was partly responsible for the ex-parte disposal by the first appellate authority due to non-compliance with hearing notices. However, the first appellate authority dismissed the appeal without properly deciding the grounds on merits or addressing the validity of reopening.
The Tribunal found that the assessee had consistently stated that the investment was made by her deceased husband and provided documentary evidence, including bank statements and the husband's income tax return showing rental income from the property. The Tribunal concluded that the source of investment was satisfactorily established and the AO failed to identify any other source of income.
The Tribunal found it inconsistent that the CIT(A) condoned the delay in the penalty appeal but not the quantum appeal on similar grounds. The Tribunal restored both matters to the CIT(A) for reconsideration of the delay condonation, citing the need for substantial justice.
The First Appellate Authority (FAA) found that the assessee was not a beneficiary of accommodation entries but rather a provider, earning commission. The FAA directed the AO to compute commission income at 1% of total debit transactions. The Tribunal, after considering rival submissions and noting the department's failure to produce counter-evidence, upheld the FAA's decision.
The Tribunal held that the purchases were not genuine and the assessee failed to discharge its onus to prove their genuineness. The Tribunal set aside the CIT(A)'s order and restored the issue to the AO for fresh adjudication.
The Tribunal held that the assessee was prevented by a sufficient cause from presenting the appeal within the limitation period. The Tribunal condoned the delay and restored the matter back to the CIT(A) for deciding the issue on merit.
The Tribunal held that penalty under section 271(1)(c) cannot be sustained as the reassessment order accepted the assessee's revised return without making any addition or disallowance. Furthermore, the penalty notice was deemed invalid due to the failure to specify whether the penalty was for concealment of income or furnishing inaccurate particulars.