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39 orders · Page 1 of 1
The Tribunal condoned the delay in filing the appeal. It upheld the reopening of assessment based on prima facie material. The Tribunal directed that only 10% of the total cash deposits be considered as taxable income, considering the profit element.
The Tribunal set aside the issue to the file of the CIT(A) for fresh adjudication. This was based on the assessee's submission of new documents and the reason for the delay in providing them earlier.
The Income Tax Appellate Tribunal noted the assessee's request to withdraw the appeals. The Revenue representative had no objection to the withdrawal.
The Tribunal held that levying penalty under Sections 271D and 271E when the peak credit of the transactions was already taxed as undisclosed income under Section 68 is contradictory and thus void ab initio. The appeals challenging these penalties were allowed.
The Tribunal held that levying penalty under Sections 271D and 271E when the peak credit of the transactions was already taxed as undisclosed income under Section 68 is contradictory and thus void ab initio. The appeals challenging these penalties were allowed.
The Tribunal held that levying penalty under Sections 271D and 271E when the peak credit of the transactions was already taxed as undisclosed income under Section 68 is contradictory and thus void ab initio. The appeals challenging these penalties were allowed.
The Income Tax Appellate Tribunal noted the assessee's request to withdraw the appeals. The Revenue representative had no objection to the withdrawal.
The Tribunal held that levying penalty under Sections 271D and 271E when the peak credit of the transactions was already taxed as undisclosed income under Section 68 is contradictory and thus void ab initio. The appeals challenging these penalties were allowed.
The Tribunal set aside the order of the CIT(A) and restored the matter to its file for fresh adjudication. This was done to provide the assessee an opportunity to present its case in detail, given the challenges faced with virtual hearings.
The Tribunal held that the appeals were not maintainable before it as they should have been filed before the CIT(A). The Tribunal dismissed the appeals in limine without going into other disputes.
The Tribunal confirmed the addition on account of unsecured loans. However, it allowed a portion of the cash deposit, assuming accumulated savings up to the taxable limit from past tuition income, and directed the AO to delete the addition to that extent.
The Tribunal held that the appeals were not maintainable before it as they should have been filed before the CIT(A). The Tribunal dismissed the appeals in limine without going into other disputes.
The Tribunal held that the appeal was not maintainable in law due to the unexplained delay and the absence of the assessee. Consequently, the appeal was dismissed in limine.
The Tribunal noted the assessee's claim of not receiving notices due to address changes and the discrepancy in the interest income calculation. To meet the ends of justice, the matter was set aside to the Assessing Officer for a fresh examination.
The Tribunal noted the assessee's claim of not receiving notices due to address changes and the discrepancy in the interest income calculation. To meet the ends of justice, the matter was set aside to the Assessing Officer for a fresh examination.
The Tribunal noted the assessee's claim of not receiving notices due to address changes and the discrepancy in the interest income calculation. To meet the ends of justice, the matter was set aside to the Assessing Officer for a fresh examination.
The Tribunal noted the assessee's claim of not receiving notices due to address changes and the discrepancy in the interest income calculation. To meet the ends of justice, the matter was set aside to the Assessing Officer for a fresh examination.
The Tribunal allowed the assessee's request to withdraw the appeal. The appeal was dismissed as withdrawn because the consequential order passed by the AO accepted the returned income, resolving the assessee's grievance.
The Tribunal held that the Assessing Officer had made due inquiries regarding agricultural income and cash deposits, and had elicited replies from the assessee. Therefore, the assessment was not completed without inquiry, and the Pr. CIT's order was not justified.
The Tribunal held that the Assessing Officer's order was indeed erroneous and prejudicial to the revenue. The assessee failed to establish commercial expediency for providing interest-free loans to sister concerns, especially when it had interest-bearing funds and the sister concerns also advanced interest-free funds further.
The Tribunal held that the Pr.CIT's revisionary order was unjustified as the ITS data lacked the necessary bill-wise breakup for reconciliation. Therefore, the AO could not have reasonably sought an explanation for the difference.
The Tribunal held that disallowing the entire expenditure under section 143(1) without proper assessment proceedings under section 143(2) is beyond the scope of section 143(1) adjustments. Such disallowance is a debatable proposition and requires proper scrutiny.
The Tribunal upheld the CIT(A)'s decision, stating that the assessee is entitled to set off unabsorbed depreciation. The CIT(A) had directed the AO to verify if the amount was unabsorbed depreciation or business loss and allow it if it was unabsorbed depreciation.
The Tribunal held that the delay in remittance of TDS constituted a default, and the penalty under Section 221 was rightly imposed. The assessee failed to provide sufficient reasons or supporting evidence to justify the delay.
The Tribunal held that the assessee is entitled to claim the balance additional depreciation in the subsequent year, even if the amendment allowing this was prospective, as it was considered a curative amendment to address a defect in the law.
The Tribunal dismissed the appeal in limine due to the unexplained delay in filing. The Tribunal noted the assessee's lack of interest in pursuing the appeal, as evidenced by repeated non-appearances and failure to file necessary documentation.
The Tribunal noted the assessee's request to withdraw the appeal due to participation in the Vivaad Se Vishwas Scheme. The Revenue representative had no objection to the withdrawal.
The Tribunal held that the CIT(Appeals) did not err in deleting the additions. The decision was based on the ITAT's prior ruling in the assessee's own case for a previous assessment year, which allowed similar expenditures.
The Tribunal, considering the assessee's age, long-standing homeopathy practice, and acceptance of returns in subsequent years, granted partial relief. The income was directed to be reduced by Rs. 7 lakhs.
The Tribunal noted that the assessee was no longer aggrieved by the PCIT's order as the subsequent assessment was finalized without additions. Therefore, the assessee requested to withdraw the appeal.
The Tribunal held that adjustments denying deductions based on High Court decisions are not permissible under section 143(1). Following the Calcutta High Court's decision in CIT vs. Natwarlal Chowdhury Charity Trust, the Tribunal ruled that deemed income should be considered for accumulation benefits.
The Tribunal dismissed the assessee's appeal, following the jurisdictional High Court's decision in a similar case where an ex-parte order was upheld due to the assessee's non-cooperation. The Tribunal found no infirmity in the ex-parte orders passed by the lower authorities.
The Tribunal found that the bank passbook details did not reconcile with the assessment order. Therefore, the matter was restored to the AO for reconciliation and to provide the assessee with an opportunity to be heard.
The Tribunal held that the CIT(Appeals) erred in not allowing the assessee to place relevant evidence on record and in not referring the matter to the AO. The Tribunal found that the source of investment was explained by salary income earned abroad.
The Tribunal held that the balance of additional depreciation, which was restricted due to usage for less than 180 days in the first year, can be claimed in the subsequent year. This is a one-time incentive meant to encourage industrialization.
The Tribunal held that the assessee convincingly explained the source of cash deposits as withdrawals from his bank account made on different dates, which were used for his parents' medical expenses. Therefore, the additions confirmed by the CIT(A) were directed to be deleted.
The Tribunal held that the CIT(Appeals) should have discussed the merits of the case instead of summarily dismissing the appeal. The case was restored to the CIT(Appeals) for fresh consideration.
The Tribunal upheld the orders of the lower authorities, confirming the addition of Rs. 2,90,000. The decision was based on the absence of cogent documents to support the assessee's claim.
The Tribunal noted that the consequential order had been passed and the appeal had become academic. The assessee then requested to withdraw the appeal.