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32 orders · Page 1 of 1
The Tribunal held that the assessment framed by the AO was invalid because it was based on a notice issued by an officer who lacked inherent jurisdiction over the assessee's case at the time of issuance. Therefore, the assessment was quashed.
The Tribunal held that the AO, by accepting the assessee's books of account, implicitly accepted the disclosed sources of income. Treating the cash deposits as unexplained while accepting the books of account leads to an incongruous situation.
The Tribunal concurred with the AO that the assessee failed to substantiate the source of her claimed cash in hand. The Tribunal also upheld the addition made by the AO for unexplained cash deposits in the assessee's bank account.
The Tribunal held that the AO had wrongly assumed jurisdiction to reopen the concluded assessment as it was based on a mere 'change of opinion' and not on any fresh material. Therefore, the assessment framed under Section 147 was quashed.
The Tribunal held that Section 69C is not applicable as the commission expenses were debited to the Profit & Loss account and were not unexplained expenditures. The assessee had offered an explanation, and the issue was about the deductibility of accounted expenses, not the source of unexplained expenditure.
The Tribunal held that the adjustment of old gold jewelry against new jewelry sales is not a payment but an exchange, falling under the exception provided in Rule 6DD(d). Therefore, Section 40A(3) is not applicable.
The Tribunal held that a significant portion of the outstanding IGST/CST was paid before the due date of filing the return. Therefore, as per the proviso to Section 43B(a), the amount was allowable as a deduction in the year under consideration.
The Tribunal held that while the additional evidence submitted by the assessee suggested the availability of cash, it was not available before the AO during the original assessment. Therefore, the matter was restored to the AO for verification.
The Tribunal held that the adjustment of old gold jewelry against new jewelry sales is not a payment but an exchange, falling under the exception provided in Rule 6DD(d). Therefore, Section 40A(3) is not applicable.
The Tribunal held that the inordinate delay of 339 days was not justifiable and the assessee had habitually adopted a lackadaisical approach. Therefore, the delay could not be condoned.
The Tribunal upheld the addition of the Mercedes car's value to business income and the addition for the MRF Tyres account discrepancy. However, the disallowance of interest paid to family members was set aside and remanded for fresh adjudication.
The Tribunal held that while the assessee failed to substantiate the authenticity of purchases, the addition should be restricted to the profit element. The AO's observation of only Rs. 40,000/- payment was found to be factually incorrect.
The Tribunal held that the assessee had complied with Section 249(4)(a) by paying tax on the returned income. The dismissal by CIT(A) was not sustainable, and the matter was restored to the AO for fresh adjudication.
The Tribunal held that the assessee failed to discharge the onus of proving the source of cash deposits. The CIT(Appeals) had adopted a fair approach by sustaining an addition of Rs. 7.50 lacs.
The Tribunal held that the Assessing Officer exceeded his jurisdiction by reopening the concluded assessment based merely on a 'change of opinion', which is not permissible in law. Consequently, the reassessment order was quashed.
The Tribunal held that the loan transaction was genuine. The Tribunal noted that the lender confirmed the loan, had a substantial opening balance in his account, and the assessee had repaid part of the loan and paid interest, which was not disallowed by the AO.
The Tribunal held that the fair market value as on 01/04/1981 should be determined based on government guidelines and prescribed values, not arbitrarily. The AO and CIT(A) erred in not appreciating the assessee's basis for valuation and in relying on documents without providing copies to the assessee.
The Tribunal upheld the disallowance of interest expenditure under Section 40(a)(ia) for failure to deduct TDS, citing a Supreme Court judgment. It also upheld the ad-hoc disallowance of truck repair expenses due to insufficient supporting documentation.
The Tribunal held that the investment of Rs. 12,96,220/- made by the assessee's wife from her savings account was sufficiently proved. However, the source of cash payment of Rs. 14,240/- for registration and other charges remained unsubstantiated.
The Tribunal held that ad-hoc disallowances based on self-made vouchers without identifying specific unverifiable claims are unsustainable. It also noted that a company, being an inanimate person, cannot have personal expenses for communication. However, a disallowance for vehicle expenses due to lack of logbooks was upheld.
The Tribunal held that no disallowance under Section 14A is warranted if no exempt income has been received during the year, even if investments were made. The disallowance made by the AO was vacated.
The Tribunal considered the assessee's request to withdraw the appeal and noted that the revenue did not object. Consequently, the withdrawal of the appeal was allowed.
The Tribunal permitted the assessee to withdraw the appeal as the revenue did not object. Consequently, the appeal was dismissed as withdrawn.
The Tribunal held that the CIT(Appeals) has a statutory obligation to decide appeals on merits and cannot summarily dismiss them for non-prosecution. The order of the CIT(Appeals) was set aside.
The Tribunal held that the CIT(Appeals) has a statutory obligation to decide appeals on merits and cannot summarily dismiss them for non-prosecution. The order of the CIT(Appeals) was set aside.
The Tribunal held that the CIT(Appeals) has a statutory obligation to decide appeals on merits and cannot summarily dismiss them for non-prosecution. The order of the CIT(Appeals) was set aside.
The Tribunal held that the CIT(Appeals) has a statutory obligation to decide appeals on merits and cannot summarily dismiss them for non-prosecution. The order of the CIT(Appeals) was set aside.
The Tribunal held that the CIT(Appeals) has a statutory obligation to decide appeals on merits and cannot summarily dismiss them for non-prosecution. The order of the CIT(Appeals) was set aside.
The CIT(Appeals) upheld the addition, noting that the assessee failed to provide credible proof for the source of the cash deposits, such as details of contract work, agreements, or payments received. The tribunal agreed with the CIT(Appeals) that the assessee had not discharged the onus of proving the source of the cash.
The Tribunal upheld the CIT(Appeals)' decision to sustain the addition. It found that the assessee failed to provide any supporting details or documentary evidence to substantiate her claim of earning agricultural income, either before the AO or the CIT(Appeals).
The Tribunal upheld the lower authorities' decisions, finding that the assessee failed to prove the creditworthiness of loan creditors and substantiate milling expenses with documentary evidence.
The Tribunal held that the CIT(Appeals) cannot dismiss an appeal for non-prosecution and is statutorily obligated to dispose of the appeal on merits after applying his mind to the issues. The order of the CIT(Appeals) was set aside.