ITAT Ranchi Judgments — February 2023

The Tribunal allowed the assessee to withdraw the appeal as the matter was settled under the Vivad Se Vishwas Scheme. The Revenue had no objection to the withdrawal.

The assessee requested to withdraw the appeal due to settlement under the Vivad Se Vishwas Scheme. The Revenue had no objection to the withdrawal.

The Tribunal held that CSR expenses, being mandatory under the Companies Act, 2013, should be allowed as a deduction. It further noted that the amendment to Section 37(1) disallowing such expenses was not retrospective.

The Tribunal held that the penalty notice issued under Section 274 read with Section 271(1)(c) was defective as it did not specify the limb of the section under which penalty proceedings were initiated. Consequently, the penalty imposed was cancelled.

The Tribunal held that the penalty notice issued under Section 274 read with Section 271(1)(c) was defective as it did not specify the limb of the section under which penalty proceedings were initiated. Consequently, the penalty imposed was cancelled.

The Tribunal held that the appeal filed by the Revenue was contrary to the Department's policy decision regarding monetary limits for appeals. Therefore, the appeal was dismissed in limine.

The Tribunal upheld the CIT(A)'s decision to estimate profit at 6% on gross receipts, noting the assessee had conceded to this rate during appellate proceedings. The Tribunal also dismissed the ground regarding interest computation under Section 234B, stating it should be on assessed income.