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986 orders · Page 14 of 20
The Tribunal held that the assessee had discharged its onus of proving the identity and genuineness of the transaction. The AO had not conducted independent inquiries, and similar transactions with the same lender were found to be genuine by other benches.
The Tribunal held that the provision for VSI contribution, even if not actually paid, is allowable under Section 35(1)(ii) for assessees following the mercantile system of accounting, following the Bombay High Court's decision. The appeals for AY 2014-15, 2016-17, and 2017-18 were dismissed on territorial jurisdiction grounds.
The tribunal held that the CIT(A) adopted an unduly technical approach and that a liberal interpretation of 'sufficient cause' should be applied to advance substantial justice. The delay was condoned.
The Tribunal condoned the delay in filing Form 10B, considering the pandemic period and subsequent circulars extending deadlines. However, the allowability of expenditure was restored to the Assessing Officer for factual verification.
The Tribunal held that the notice issued under Section 148 was barred by limitation. The first proviso to Section 149 restricts reopening for AYs up to 2021-22 if the notice would have been time-barred under the old law.
The Tribunal held that since the reopening notice was issued beyond three years from the end of the assessment year, the approval for sanction should have been obtained from the Principal Chief Commissioner or equivalent authority, not the Principal Commissioner. Therefore, the notice and subsequent assessment order were invalid.
The Tribunal held that the provision for VSI contribution, even if not actually paid, is allowable under Section 35(1)(ii) for assessees following the mercantile system of accounting, following the Bombay High Court's decision. The appeals for AY 2014-15, 2016-17, and 2017-18 were dismissed on territorial jurisdiction grounds.
The Tribunal restored the appeal to the CIT(A) for fresh adjudication. This was done to allow the assessee to present additional evidence and for proper factual verification of the presented documents.
The Tribunal upheld the CIT(A)'s decision, following judicial precedents that interest received from head office and overseas branches is not taxable in India under domestic law due to the principle of mutuality. The Tribunal also held that expenses incurred for earning income taxable at a lower rate are deductible against other income.
The Tribunal upheld the CIT(A)'s decision, following judicial precedents that interest received from head office and overseas branches is not taxable in India under domestic law due to the principle of mutuality. The Tribunal also held that expenses incurred for earning income taxable at a lower rate are deductible against other income.
The Tribunal held that Section 13(1)(b) of the Act, which prohibits benefits to specific communities, applies only to trusts established after the commencement of the 1961 Act. Since the appellant trust was established in 1910, this ground for cancellation was invalid. The Tribunal also noted that registration was granted for a subsequent period.
The Tribunal held that the assessee had submitted all relevant evidence, including supplier details and bank statements reflecting payments. The AO and CIT(A) failed to point out any deficiency in these documents or conduct independent inquiries. The addition was therefore made on conjectures and surmises.
The Tribunal upheld the CIT(A)'s decision, restricting the disallowance under Section 14A to the extent of exempt income and deleting the addition to book profit under Section 115JB, following established judicial precedents.
The Tribunal found that the ex-parte orders were passed without affording the assessee a proper opportunity to be heard. Therefore, the appeals were restored to the CIT(A) for fresh adjudication.
The Tribunal condoned the delay in filing the appeal and found it appropriate to remit the matter back to the CIT(A) for a fresh adjudication. The assessee was directed to provide all necessary documentation and be diligent in future proceedings.
The Tribunal held that the assessment order was within the period of limitation. Following its previous decisions, the Tribunal ruled that the fees received by the assessee do not qualify as FTS under the India-Singapore DTAA.
The Tribunal held that interest received by the head office/overseas branches is not taxable in India as it is an inter-se transaction between different establishments of the same legal entity. Losses on revaluation of foreign exchange contracts and securities held as stock-in-trade were allowed as deductions.
The Tribunal held that the condition of depositing unutilized capital gains in the Capital Gains Account Scheme before the due date of filing the return is mandatory, as per Section 54(2) of the Act. The CIT(A)'s order, which followed the jurisdictional High Court's decision on this point, was confirmed.
The Tribunal admitted additional grounds of appeal which were legal and jurisdictional in nature. These grounds challenged the validity of the notice under section 148 and the assessment order being time-barred.
The Tribunal condoned the delay in filing the appeal, acknowledging the bonafide reasons and compelling circumstances presented by the assessee. The matter was remitted back to the CIT(A) for de novo adjudication on merits.
The Tribunal held that the notice issued under Section 148 on 21.07.2022 for AY 2015-16 was barred by limitation, as the six-year period expired on 31.03.2022. Therefore, the reassessment proceedings and order were quashed.
The Tribunal held that interest received by the head office/overseas branches is not taxable in India as it is an inter-se transaction between different establishments of the same legal entity. Losses on revaluation of foreign exchange contracts and securities held as stock-in-trade were allowed as deductions.
The Tribunal held that interest received by the head office/overseas branches is not taxable in India as it is an inter-se transaction between different establishments of the same legal entity. Losses on revaluation of foreign exchange contracts and securities held as stock-in-trade were allowed as deductions.
The Tribunal found that the lower authorities relied on insufficient evidence and the assessee also failed to produce supporting material. Therefore, the matter was restored to the Assessing Officer for fresh adjudication.
The Tribunal upheld the CIT(A)'s decision, finding that the Indian subsidiaries of the overseas entities did not constitute PEs and that the reinsurance premiums paid were not FTS or royalty. Therefore, the assessee was not obligated to deduct TDS.
The Tribunal condoned the delay in filing the appeal due to the director's ill health and the accountant leaving the job. The Tribunal noted that the assessee had provided substantial documentation and that the CIT(A) had relied on external material without confronting the assessee.
The Tribunal upheld the CIT(A)'s decision, stating that a transaction accepted as arm's length for one associated enterprise cannot be treated differently for the other. The Revenue's grounds were dismissed.
The Tribunal found that the assessee had provided evidence, including the partnership firm's financial statements and bank statements, showing the property was purchased by the firm. Therefore, the addition in the hands of the assessee was not sustainable.
The Tribunal considered the assessee's request to withdraw the appeal, noting it was a duplicate appeal. The Tribunal granted permission for the withdrawal.
The Tribunal held that Section 14A disallowance is not applicable when the assessee has not earned any exempt income during the year. They followed the jurisdictional High Court's decision in Ballarpur Industries Ltd.
The Tribunal held that the assessee had provided substantial material during assessment and that the CIT(A) did not provide adequate opportunity for hearing, especially given the magnitude of additions. Therefore, the matter was restored to the CIT(A) for fresh adjudication.
The Tribunal held that the assessee failed to establish the genuineness of the deduction claim beyond formal documentation, and the surrounding circumstances, search findings, and the recipient entity's conduct justified the disallowance. Consequently, the grounds challenging the disallowance, consequential interest, and demand were dismissed.
The Tribunal held that the CIT(A) erred in dismissing the appeal for non-prosecution without adjudicating the issues on merits. The matter was remanded back to the CIT(A) for fresh adjudication.
The Tribunal held that interest received by the head office/overseas branches is not taxable in India as it is an inter-se transaction between different establishments of the same legal entity. Losses on revaluation of foreign exchange contracts and securities held as stock-in-trade were allowed as deductions.
The Tribunal set aside the order of the CIT(Exemptions) and restored the matter for fresh adjudication. The CIT(Exemptions) was directed to examine the trust's objects, genuineness of activities, and other conditions under section 12AB, considering existing and any new material, and providing an adequate opportunity to the assessee.
The Tribunal held that the order passed by the learned CIT(Exemptions) was ex-parte and non-speaking. In the interest of justice, the Tribunal decided to set aside the impugned order and restore the matter to the CIT(Exemptions) for fresh consideration. The CIT(Exemptions) was directed to decide the matter afresh after affording a reasonable opportunity of being heard to the assessee and thereafter, pass a speaking order in accordance with the law. The principle established is that orders rejecting registration applications must be speaking orders and passed after giving the assessee an adequate opportunity to be heard. The appeal of the assessee was allowed for statistical purposes.
The Tribunal held that the due date for depositing employee contributions to PF/ESI should be reckoned from the end of the month in which wages become due, not from the month of actual disbursement. Therefore, the disallowances made under section 143(1)(a) were upheld as the assessee had deposited contributions beyond the prescribed due dates.
The Tribunal noted that the CIT(A) did not deal with the assessee's factual submissions. Therefore, in the interest of justice, the orders of the AO and CIT(A) were set aside.
The Tribunal allowed the assessee's request to withdraw the appeal. The reasoning was based on the assessee's submission that its fresh application for registration under Section 12A had been favorably considered and granted by the Department, rendering the present appeal infructuous. The Senior DR for the Revenue did not object to this request. Consequently, the Tribunal dismissed the appeal as withdrawn. The operative direction was to dismiss the appeal as withdrawn. No issue was expressly left undecided.
The Tribunal held that the notice under Section 148 was barred by limitation as per the Supreme Court's decision in Union of India vs. Rajeev Bansal. Additionally, the approval for issuing the notice was not obtained from the competent authority as required by Section 151 of the Act.
The Tribunal upheld the CIT(A)'s deletion of the addition on account of donations and contributions, finding that the expenditure was for employee welfare and business purposes, not mere donations. The allowability of expenditure depends on its true nature, not its accounting head.
The Tribunal set aside the ex parte order of the CIT(A) and restored the matter for fresh adjudication. The CIT(A) was directed to decide the appeals afresh after affording due opportunity of hearing.
The Tribunal set aside the ex parte order of the CIT(A) and restored the matter for fresh adjudication. The CIT(A) was directed to decide the appeals afresh after affording due opportunity of hearing.
The Tribunal set aside the ex parte order of the CIT(A) and restored the matter for fresh adjudication. The CIT(A) was directed to decide the appeals afresh after affording due opportunity of hearing.
The Tribunal upheld the CIT(A)'s deletion of the addition on account of donations and contributions, finding that the expenditure was for employee welfare and business purposes, not mere donations. The allowability of expenditure depends on its true nature, not its accounting head.
The Tribunal set aside the ex parte order of the CIT(A) and restored the matter for fresh adjudication. The CIT(A) was directed to decide the appeal on merits after affording a due and effective opportunity of hearing to the assessee.
The Tribunal restored the matter to the CIT(E) for fresh adjudication, providing the assessee with a reasonable opportunity to be heard and submit documents, noting the lapse was procedural and unintentional.
The Tribunal condoned the delay in filing the appeals, citing sufficient cause due to the circumstances. The ex parte orders of the CIT(A) were set aside, and the matters were restored to the Assessing Officer for fresh adjudication.
The Tribunal set aside the ex parte order of the CIT(A) and restored the matter for fresh adjudication. The CIT(A) was directed to decide the appeal on merits after providing an effective opportunity of hearing to the assessee.
The Tribunal condoned the delay in filing the appeals, citing sufficient cause due to the circumstances. The ex parte orders of the CIT(A) were set aside, and the matters were restored to the Assessing Officer for fresh adjudication.