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136 orders · Page 2 of 3
The Tribunal set aside the impugned order and remitted the matter back to the Assessing Officer. The AO was directed to dispose of the issue afresh after allowing a reasonable opportunity of hearing to the assessee.
The Tribunal held that the assessee's activities, involving finance, technical expertise, and risk, qualified it as a developer eligible for deduction under Section 80IA(4). This decision followed a consistent line of rulings in the assessee's own cases.
The Tribunal held that the addition was made in violation of the principles of natural justice as the assessee was denied the right to cross-examine the witness. Therefore, the matter was set aside and remanded back to the Assessing Officer.
The Tribunal permitted the assessee to withdraw the appeals. Consequently, the appeals filed by the assessee were dismissed as withdrawn.
The Tribunal set aside the impugned order and restored the matter to the file of the Assessing Officer for fresh adjudication. The assessee will be given a reasonable opportunity of hearing.
The Tribunal held that since the assessee submitted its own working for disallowance under Rule 8D, the AO was not required to record separate satisfaction for not accepting the assessee's accounts. However, the disallowance should be restricted to investments yielding exempt income.
The Tribunal allowed the assessee's request to withdraw all the appeals. The appeals were consequently dismissed as withdrawn.
The Tribunal set aside the impugned order and restored the matter to the file of the CIT(A). The CIT(A) was directed to decide the issues afresh after examining additional evidence submitted by the assessee.
The Tribunal held that the issue of Inami land was raised for the first time before the CIT(A) with illegible documents. The matter was restored to the AO for fresh decision after conducting proper inquiries regarding the Inam claim and cost of acquisition.
The Tribunal held that the issue of Inami land was raised for the first time before the CIT(A) with illegible documents. The matter was restored to the AO for fresh decision after conducting proper inquiries regarding the Inam claim and cost of acquisition.
The Tribunal allowed the assessee's request to withdraw all the appeals. The appeals were consequently dismissed as withdrawn.
The Tribunal held that since the jurisdictional High Court (Bombay High Court) had ruled that exemption under Section 54B is not available if the new property is purchased in the name of someone else, it was bound to follow that decision. Therefore, the authorities below were justified in denying the exemption.
The Tribunal held that stock statements furnished to a bank cannot solely form the basis for addition, especially when the stock is hypothecated and not pledged. Since the assessee's books of account showed no discrepancies, the rejection of book results was unjustified.
The Tribunal held that the issue of Inami land was raised for the first time before the CIT(A) with illegible documents. The matter was restored to the AO for fresh decision after conducting proper inquiries regarding the Inam claim and cost of acquisition.
The Tribunal set aside the CIT(A)'s ex parte order and remitted the matter back for a fresh disposal on merits after providing a reasonable opportunity of hearing to the assessee.
The Tribunal held that stock statements furnished to a bank cannot solely form the basis for addition, especially when the stock is hypothecated and not pledged. Since the assessee's books of account showed no discrepancies, the rejection of book results was unjustified.
The Tribunal allowed the assessee's request to withdraw all the appeals. The appeals were consequently dismissed as withdrawn.
The Tribunal held that the assessee's claim of receiving other properties in lieu of his share was not substantiated by registered documents. It also noted that the AO failed to refer the valuation to the DVO as requested by the assessee.
The Tribunal held that the land was consistently treated as an investment by the assessee in its balance sheets from the year of purchase. Therefore, the income from its transfer should be treated as capital gains, not business income.
The Tribunal held that the CIT(A)'s powers are co-terminus with the AO, and restoring the 'Resident' status did not alter the returned income or tax liability. Therefore, the assessee had no valid grievance.
The Tribunal allowed the assessee's request to withdraw the appeal. The appeal was dismissed as withdrawn based on the assessee's submission and no objection from the revenue.
The Tribunal held that running an educational institution is a charitable activity, and a surplus of 10-15% is reasonable and can be used for expansion. The CIT had not alleged misuse of surplus for non-charitable activities.
The Tribunal held that the reopening of assessment was bad in law as it was based on a change of opinion and not on any failure by the assessee to disclose material facts. The Assessing Officer had already considered the relevant issues during the original assessment.
The Tribunal upheld the penalty imposed under Section 271A. It was found that the assessee, a medical professional, failed to maintain the mandatory books of accounts, including a daily case register and medicine stock inventory, as required by law.
The Tribunal held that under the Maharashtra Act, 'nominal members' are included in the definition of 'members', making income from loans to them eligible for deduction. It also followed precedent allowing deduction on interest income from bank deposits.
The tribunal held that the balance 50% of additional depreciation is allowable in the subsequent assessment year, following jurisdictional High Court decisions. However, the disallowance under Section 14A was confirmed as the assessee earned exempt income and did not offer any expenditure for earning it.
The Tribunal held that commission income earned from collecting MSEDCL bills and interest on security deposits for such bill collection activities are eligible for deduction under Section 80P(2)(a)(i) as they constitute business activities of the society.
The Tribunal held that commission income earned from collecting MSEDCL bills and interest on security deposits for such bill collection activities are eligible for deduction under Section 80P(2)(a)(i) as they constitute business activities of the society.
The Tribunal granted permission to the appellant to withdraw the appeal. The appeal was accordingly dismissed as withdrawn.
The Tribunal upheld the validity of the reassessment proceedings, stating that an audit objection constitutes fresh information. It also held that interest income earned on advances to sister concerns should be taxed as 'Income from other sources' as there was no nexus between borrowed funds and these advances.
The Tribunal held that the AO had recorded satisfaction for disallowing expenses under Rule 8D, rejecting the assessee's argument. The disallowance of deduction u/s. 80IA was upheld. The claim regarding lease rental income was also dismissed due to lack of documentary evidence.
The Tribunal condoned the delay in filing the appeal. However, it upheld the disallowances made by the lower authorities regarding rent, interest on excise, interest on VAT/CST, interest on unsecured loans, and additions for unexplained unsecured loans due to the assessee's failure to provide substantiating evidence.
The Tribunal condoned the delay in filing the appeal, finding the reasons provided by the assessee to be valid and beyond their control. The Tribunal then proceeded to hear the appeal on merits, allowing one ground and dismissing others.
The Tribunal held that the Assessing Officer was justified in making an ex-parte assessment due to the assessee's non-compliance. The assessee failed to rebut the evidence or findings of the lower authorities.
The Tribunal held that the AO had recorded satisfaction for disallowing expenses under Rule 8D, rejecting the assessee's argument. The disallowance of deduction u/s. 80IA was upheld. The claim regarding lease rental income was also dismissed due to lack of documentary evidence.
The Tribunal held that the AO had recorded satisfaction for disallowing expenses under Rule 8D, rejecting the assessee's argument. The disallowance of deduction u/s. 80IA was upheld. The claim regarding lease rental income was also dismissed due to lack of documentary evidence.
The Tribunal held that the AO had recorded satisfaction for disallowing expenses under Rule 8D, rejecting the assessee's argument. The disallowance of deduction u/s. 80IA was upheld. The claim regarding lease rental income was also dismissed due to lack of documentary evidence.
The Tribunal set aside the impugned order and restored the matter to the AO to decide afresh. The assessee is to be given an opportunity to produce Mr. Dashwant Kisan Chavan to support the genuineness of the transaction.
The Tribunal held that the assessee had indeed offered the income from TDR sale, and it was permissible to set off business losses against capital gains. Therefore, the addition made by the AO was incorrect.
The Tribunal permitted the assessee to withdraw the appeal. The appeal was dismissed as withdrawn.
The Tribunal held that expenditure incurred on furniture and interior decoration in rented premises cannot be treated as revenue expenditure. Therefore, the order of the CIT(A) was found to be justified.
The Tribunal held that the notional rent of unsold flats held as stock-in-trade cannot be taxed as business income as there is no specific provision for it. The amendment to Section 23(5) is prospective and not applicable to the assessment year in question.
The Tribunal held that the CIT(A) did not decide the appeal on merits and the assessee was not given an opportunity to produce evidence. Therefore, the matter was remanded back to the CIT(A) for fresh adjudication.
For AY 2010-11, the Tribunal upheld the CIT(A)'s order, finding no reason to deny the assessee an opportunity to claim deduction under Section 10A. For AY 2011-12, the Tribunal found that since the Section 10B claim was remanded for fresh consideration, the alternate claim under Section 10A did not arise, and thus the Revenue's appeal was allowed.
The assessee sought to withdraw the appeal as per the provisions of the Vivad se Vishwas Scheme, which deems pending appeals withdrawn upon receipt of Form 3.
For AY 2010-11, the Tribunal upheld the CIT(A)'s order, finding no reason to deny the assessee an opportunity to claim deduction under Section 10A. For AY 2011-12, the Tribunal found that since the Section 10B claim was remanded for fresh consideration, the alternate claim under Section 10A did not arise, and thus the Revenue's appeal was allowed.
The Tribunal found that the assessee did not get an opportunity to present their case before the CIT(A) due to the late receipt of the notice. Therefore, the matter was remanded back to the CIT(A) for fresh adjudication.
The Tribunal dismissed the Revenue's appeal due to low tax effect. The assessee's appeal was dismissed as not pressed.
The Tribunal found that the assessee's explanations for the additions made by the AO were not properly considered by the CIT(A). Therefore, the impugned orders were set aside and the matters were restored to the file of the AO for fresh adjudication.
The Tribunal found that the assessee's explanations for the additions made by the AO were not properly considered by the CIT(A). Therefore, the impugned orders were set aside and the matters were restored to the file of the AO for fresh adjudication.