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242 orders · Page 3 of 5
The Tribunal held that education cess is an allowable expenditure. It also ruled that provisions for warranty and administrative service charges are allowable as business expenditure, reversing the lower authorities' decisions.
The Tribunal held that education cess is an allowable expenditure. It also ruled that provisions for warranty and administrative service charges are allowable as business expenditure, reversing the lower authorities' decisions.
The Tribunal held that education cess is an allowable expenditure. It also ruled that provisions for warranty and administrative service charges are allowable as business expenditure, reversing the lower authorities' decisions.
The Tribunal condoned the delay in filing the appeals and admitted the additional evidence. The Tribunal decided to remand all the grounds, including additional grounds, to the Assessing Officer for fresh adjudication.
The Tribunal condoned the delay in filing the appeals and admitted the additional evidence. The Tribunal decided to remand all the grounds, including additional grounds, to the Assessing Officer for fresh adjudication.
The Tribunal condoned the delay in filing the appeals and admitted the additional evidence. The Tribunal decided to remand all the grounds, including additional grounds, to the Assessing Officer for fresh adjudication.
The Tribunal condoned the delay in filing the appeals and admitted the additional evidence. The Tribunal decided to remand all the grounds, including additional grounds, to the Assessing Officer for fresh adjudication.
The Tribunal condoned the delay in filing the appeals and admitted the additional evidence. The Tribunal decided to remand all the grounds, including additional grounds, to the Assessing Officer for fresh adjudication.
The Tribunal condoned the delay in filing the appeals and admitted the additional evidence. The Tribunal decided to remand all the grounds, including additional grounds, to the Assessing Officer for fresh adjudication.
The Tribunal condoned the delay in filing the appeals and admitted the additional evidence. The Tribunal decided to remand all the grounds, including additional grounds, to the Assessing Officer for fresh adjudication.
The Tribunal held that the expenditure, though pertaining to a prior year, was deductible in the current year as the contractual liability finally arose in this year. Regarding labour expenses, the Tribunal found no justification for the disallowance as the genuineness was accepted and the Revenue did not appeal.
The Tribunal held that the issue of excess cane price payment is covered by the Supreme Court judgment in CIT vs. Tasgaon Taluka S.S.K. Ltd., requiring remittance to the AO for fresh consideration. The disallowance under Section 40(a)(ia) was deleted, following the jurisdictional High Court's decision in CIT vs. Dwarkadheesh Sakhar Karkhana Ltd.
The Tribunal held that the expenditure, though pertaining to a prior year, was deductible in the current year as the contractual liability finally arose in this year. Regarding labour expenses, the Tribunal found no justification for the disallowance as the genuineness was accepted and the Revenue did not appeal.
The Tribunal decided several grounds in favor of the assessee, following precedents from earlier assessment years. However, one ground related to prior period expenses was dismissed against the assessee. The Tribunal also restored one issue regarding commission payment to the AO for fresh consideration.
The Tribunal decided several grounds in favor of the assessee, following precedents from earlier assessment years. However, one ground related to prior period expenses was dismissed against the assessee. The Tribunal also restored one issue regarding commission payment to the AO for fresh consideration.
The Tribunal decided several grounds in favor of the assessee, following precedents from earlier assessment years. However, one ground related to prior period expenses was dismissed against the assessee. The Tribunal also restored one issue regarding commission payment to the AO for fresh consideration.
The Tribunal held that the assessee's non-cooperative attitude during assessment proceedings was unacceptable. It upheld the deletion of bad debt disallowance based on Supreme Court precedent and restored issues related to commission and other expenses to the AO for fresh adjudication.
The Tribunal set aside the impugned order and remitted the matter back to the Assessing Officer for a fresh decision. The assessee was granted liberty to file fresh evidence and was to be given a reasonable opportunity of hearing.
The Tribunal, in light of CBDT Circular No. 17/2019 which revised the monetary limit for filing appeals to Rs. 50.00 lakh, was not inclined to entertain the appeals. The cross-objection filed by the assessee was rendered infructuous.
The Tribunal held that income from properties held as stock-in-trade by a builder is taxable under 'Profits and Gains of Business or Profession' and not 'Income from House Property'. It further held that no tax can be levied on unsold properties where no income has actually been earned.
The Tribunal held that the Assessing Officer ought to have exercised its jurisdiction to refer the valuation of the capital asset to a Valuation Officer under Section 43CA(2) of the Act. The matter was therefore remanded to the Assessing Officer for fresh consideration.
The Tribunal, considering the CBDT's revised circular increasing the monetary limit for filing appeals to Rs. 50.00 lakh, decided not to entertain the appeals. The cross-objection filed by the assessee was rendered infructuous.
The Tribunal held that the assessee's non-cooperative attitude during assessment proceedings was unacceptable. It upheld the deletion of bad debt disallowance based on Supreme Court precedent and restored issues related to commission and other expenses to the AO for fresh adjudication.
The Tribunal decided several grounds in favor of the assessee, following precedents from earlier assessment years. However, one ground related to prior period expenses was dismissed against the assessee. The Tribunal also restored one issue regarding commission payment to the AO for fresh consideration.
The Tribunal held that the CIT (Exemptions) is required to satisfy himself about the genuineness of activities and the charitable nature of objects, but not to examine the application of income at the stage of registration. The matter was restored to the CIT (Exemptions) for fresh consideration.
The Tribunal held that payments for off-the-shelf software are not royalty and thus no TDS was required, allowing the appeal on this ground. Regarding transfer pricing, the Tribunal directed exclusion of one comparable company and inclusion of another based on segmental results, and also directed a correct computation of margins.
The Tribunal set aside the CIT(Appeals) order and restored the matter to the Assessing Officer for verification, following a coordinate bench's decision. This was done for both appeals.
The Tribunal set aside the CIT(Appeals) order and restored the matter to the Assessing Officer for verification, following a coordinate bench's decision. This was done for both appeals.
The Tribunal found that the assessee had direct evidence to demonstrate the correctness of the claim regarding outstanding liabilities for labour. Therefore, the issue was remanded to the Assessing Officer for in-depth examination.
The Tribunal held that no disallowance under Section 14A is warranted when no exempt income is earned and the assessee has sufficient interest-free funds. Similarly, for Section 36(1)(iii), if interest-free funds exceed the advances made, the presumption is that advances are from such funds.
The Tribunal held that interest paid on partner's capital cannot be considered as interest for the purpose of disallowance under Section 14A. The CIT(A)'s decision to reduce the disallowance was upheld.
The Tribunal held that the payment was a reimbursement of expenses and not royalty. Therefore, there was no obligation to deduct tax at source, and the disallowance under Section 40(a)(i) was deleted.
The Tribunal held that the reopening of the assessment was bad in law as the issue of trademark license fees/royalty had already been examined in detail during the original assessment. Therefore, the reopening amounted to a mere change of opinion by the Assessing Officer.
The Tribunal allowed the assessee's appeal, reversing the transfer pricing adjustment for management services based on consistency and the inability of the TPO to question commercial decisions. The Revenue's appeal was dismissed, upholding the CIT(A)'s decisions on Section 10A/10B deductions and obsolete stock write-off.
The Tribunal noted that the overdraft account was predominantly used by the assessee. It held that an ad-hoc disallowance of 1/3rd was not sustainable and remanded the matter for fresh examination.
The Tribunal dismissed the Revenue's appeals solely on the grounds of low tax effect, as per the prevailing CBDT circulars. The dismissal was without prejudice to the Revenue's right to seek restoration if exceptions applied.
The Tribunal held that there was no contractor-contractee relationship between the JV and its members, and income should be taxed in the hands of the members. The Tribunal followed its own prior decisions on identical facts for earlier assessment years.
The Tribunal upheld the CIT(A)'s order, noting that the issue was decided in favour of the assessee in a previous assessment year, and the Revenue's appeal against that decision was dismissed by the Tribunal. No new material was presented by the Revenue to warrant interference.
The Tribunal held that the amount received by a partner on retirement, representing notional appreciation in immovable property, is not taxable as capital gains. The CIT(A)'s order deleting the addition was upheld.
The Tribunal held that the CIT(A) was correct in restoring the issue to the AO for verification of conditions for exemption under Section 54B. The Tribunal followed a coordinate bench's decision in an identical case of the assessee's wife.
The Tribunal dismissed the Revenue's appeals solely on the grounds of low tax effect, as per the prevailing CBDT circulars. The dismissal was without prejudice to the Revenue's right to seek restoration if exceptions applied.
The Tribunal held that the appeals were not maintainable due to the low tax effect, as per the CBDT Circular. Therefore, the appeals were dismissed as withdrawn.
The Tribunal held that the AO did not record clear satisfaction as to whether the assessee had furnished inaccurate particulars or concealed income, and the penalty order was levied on both limbs without proper show cause notice. Therefore, the penalty order was set aside.
The Tribunal held that proportionate deduction is allowable to the extent the assessee has complied with the provisions of Section 80IB(10). The denial of deduction should be restricted only to the profits from the units sold to the related parties.
The Tribunal partly allowed the appeal regarding low withdrawals, reducing the addition. For the addition under Section 41(1) concerning outstanding creditors, the Tribunal held that since the liabilities were still shown as payable and not written back, Section 41(1) was not attracted, and directed deletion of the addition.
The Tribunal upheld the CIT(A)'s deletion of additions related to excess gold, stock, and farmhouse investment, finding the Revenue failed to controvert the findings. The Tribunal dismissed the assessee's cross-objection regarding excess cash, finding the retraction lacked merit.
The Tribunal allowed the assessee's appeal, reversing the transfer pricing adjustment for management services based on consistency and the inability of the TPO to question commercial decisions. The Revenue's appeal was dismissed, upholding the CIT(A)'s decisions on Section 10A/10B deductions and obsolete stock write-off.
The Tribunal held that the grounds raised by the Revenue were not maintainable due to the low tax effect. Consequently, the appeals were dismissed as withdrawn.
The Tribunal permitted the assessee to withdraw the appeal. Therefore, the appeal was dismissed as withdrawn.
The Tribunal held that proportionate deduction is allowable to the extent the assessee has complied with the provisions of Section 80IB(10). The denial of deduction should be restricted only to the profits from the units sold to the related parties.