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113 orders · Page 2 of 3
The Tribunal held that the amendment to Section 54F restricts exemption to one residential house. However, it remanded the matter to the AO to determine the indexed cost of the demolished building, allow proportionate stamp duty, and verify the eligibility for exemption under Section 54F for one residential unit with the higher investment.
The ITAT condoned the 41-day delay in filing the appeal before the CIT(A), citing the assessee's lack of knowledge of tax laws and a liberal approach to procedural delays. The ITAT directed the CIT(A) to adjudicate the appeal on merits.
The ITAT condoned the 49-day delay in filing the appeal before the CIT(A), following a Supreme Court decision that advocates for a liberal approach in condoning procedural delays. The matter was remanded back to the CIT(A) to decide the appeal on its merits.
The Tribunal held that the notice issued under section 148 of the Act was barred by limitation as per the first proviso to section 149 of the Act. Consequently, the assessment order passed by the AO was quashed for want of valid assumption of jurisdiction.
The Tribunal held that the CIT(A) erred by not adjudicating the legal issues raised by the assessee regarding the validity and limitation of the notice issued under Section 148. The matter was restored to the CIT(A) for adjudication of these specific grounds.
The Tribunal condoned the delay in filing the appeal before the CIT(A) in view of the medical certificates and the detailed affidavit of the Chartered Accountant explaining the reasons. The Tribunal noted that the CIT(A) had not adjudicated the merits of the appeal. Citing the decision of the Hon'ble Bombay High Court in PCIT vs. Premkumar Arjundas Luthra (HUF), the Tribunal held that the CIT(A) cannot dismiss an appeal for non-prosecution and must dispose of the grounds on merits under Section 250(6) of the Act. Consequently, the order of the CIT(A) was deemed incorrect. The Tribunal remitted the issues back to the file of the CIT(A) for adjudication on merits. However, considering the significant delay of over 400 days, the Tribunal imposed a cost of Rs.10,000/- on the assessee society, payable to the Andhra Pradesh State Legal Authority within one month. The issue regarding the eligibility for deduction under Section 80P was not decided on merits by the ITAT, as the matter was remanded.
The Tribunal noted that the Supreme Court had remitted similar matters concerning the jurisdiction of Faceless vs. Jurisdictional Assessing Officers to issue reassessment notices to High Courts. Consequently, the Tribunal remitted the current appeals back to the CIT(A) for fresh adjudication.
The ITAT condoned the 41-day delay in filing the appeal before the CIT(A), citing the assessee's lack of knowledge of tax laws and a liberal approach to procedural delays. The ITAT directed the CIT(A) to adjudicate the appeal on merits.
The ITAT condoned the 41-day delay in filing the appeal before the CIT(A), citing the assessee's lack of knowledge of tax laws and a liberal approach to procedural delays. The ITAT directed the CIT(A) to adjudicate the appeal on merits.
The Tribunal held that the CIT(A) erred in dismissing the appeal without appreciating that the assessee claimed no advance tax was payable due to TDS on salary. The matter was remanded to the CIT(A) for adjudication on merits.
The Tribunal granted the assessee's request to withdraw the appeal. No objection was raised by the Revenue's representative.
The Tribunal held that the notice issued under Section 148 of the Act was barred by limitation as per the 'first proviso' to Section 149 of the Act. Consequently, the reassessment order passed by the AO was quashed for want of valid assumption of jurisdiction.
The Tribunal noted that the Supreme Court had remitted similar matters concerning the jurisdiction of Faceless vs. Jurisdictional Assessing Officers to issue reassessment notices to High Courts. Consequently, the Tribunal remitted the current appeals back to the CIT(A) for fresh adjudication.
The Tribunal held that the 'Sale of Tender Documents' and 'Liquidated Damages' did not fall under the core or incidental activities of shipping as defined by the Tonnage Tax Scheme. However, it allowed an expenditure related to the Maritime India Summit-2016, finding it to be commercially expedient and beneficial to the assessee's business.
The Tribunal held that Section 56(2)(vii)(c)(ii) is not attracted to a fresh allotment of shares as it involves the creation of a new asset and not the receipt of property from another person. Therefore, the addition made by the Assessing Officer was not sustainable.
The Tribunal upheld the validity of the reassessment proceedings but found that the additions made under Sections 69A and 69C were not properly adjudicated. The matter was restored to the AO for fresh examination.
The Tribunal held that Section 56(2)(vii)(c)(ii) is not attracted to a fresh allotment of shares as it involves the creation of a new asset and not the receipt of property from another person. Therefore, the addition made by the Assessing Officer was not sustainable.
The Tribunal held that the 'Sale of Tender Documents' and 'Liquidated Damages' did not fall under the core or incidental activities of shipping as defined by the Tonnage Tax Scheme. However, it allowed an expenditure related to the Maritime India Summit-2016, finding it to be commercially expedient and beneficial to the assessee's business.
The Tribunal held that the 'Sale of Tender Documents' and 'Liquidated Damages' did not fall under the core or incidental activities of shipping as defined by the Tonnage Tax Scheme. However, it allowed an expenditure related to the Maritime India Summit-2016, finding it to be commercially expedient and beneficial to the assessee's business.
The Tribunal held that the AO/CPC was not justified in altering the assessee's lawful computation of set-off under section 143(1) as it was beyond the scope of prima facie adjustments. The rejection of the rectification application was also unsustainable.
The Tribunal held that the notice under Section 148 was issued without the mandatory approval of the specified authority under Section 151 of the Act for reopening beyond three years. Therefore, the assumption of jurisdiction by the AO was invalid.
The Tribunal found that the CIT(A) had erred by quashing the proceedings solely on the ground of limitation without considering the full ratio of the Supreme Court judgments in Ashish Agarwal and Rajeev Bansal. The Tribunal held that the reassessment proceedings should be examined in light of the substituted provisions and the conditions laid down by the Supreme Court.
The Tribunal held that the CIT(A) erred in dismissing the appeal without adjudicating the grounds on merits, particularly regarding the validity of the notice and violation of natural justice. The CIT(A) is statutorily obligated to dispose of appeals on merits with reasons, even if the assessee fails to appear.
The Tribunal held that since the revision order under Section 263 was already quashed by the ITAT, the subsequent reassessment and rectification orders based on it had no legal foundation and were correctly annulled by the CIT(A).
The Tribunal held that since the revision order under Section 263 was already quashed by the ITAT, the subsequent reassessment and rectification orders based on it had no legal foundation and were correctly annulled by the CIT(A).
The Tribunal held that the 'Sale of Tender Documents' and 'Liquidated Damages' did not fall under the core or incidental activities of shipping as defined by the Tonnage Tax Scheme. However, it allowed an expenditure related to the Maritime India Summit-2016, finding it to be commercially expedient and beneficial to the assessee's business.
The Tribunal granted the assessee's request to withdraw the appeal. Consequently, the appeal filed by the assessee was dismissed as withdrawn.
The Tribunal held that while most of the cash deposit remained unexplained, a portion representing 500 grams of gold, as per CBDT circular, could be considered as explained. The AO was directed to reduce the addition by the value of this gold.
The Tribunal reduced the estimated business income from 8% to 5% of turnover, deleted the addition of Rs. 70,000 as it was already considered in the turnover estimation, and upheld the addition of Rs. 1,16,397 as salary, allowing for statutory benefits.
The Tribunal condoned the delay in filing the first appeal in the interest of justice, allowing the assessee an opportunity to present their case on merits. The matter was remanded back to the CIT(A) for adjudication.
The Tribunal held that the reassessment proceedings were initiated without obtaining the mandatory approval from the specified authority under Section 151 of the Act, as the notice under Section 148 was issued beyond three years from the end of the assessment year. Therefore, the assessment framed was bad in law.
The Tribunal held that the assessee is entitled to the rebate under Section 87A as there were no restrictive provisions in the Act disallowing it for income taxed at special rates, especially when the total income was below the prescribed limit. The AO was directed to allow the rebate.
The Tribunal dismissed the assessee's appeal both on the grounds of inordinate delay in filing and on merits. The reasons for delay were not considered sufficient, and the assessee failed to counter the AO's findings on merits.
The Tribunal noted that the issue of validity of Section 148 notices, especially post-faceless assessment, was pending before the Supreme Court. Therefore, the matter was remitted back to the CIT(A) to await the High Court's decision and provide the assessee an opportunity to be heard.
The Tribunal allowed the assessee's request to withdraw the appeal as the assessee no longer wished to pursue it. The Departmental Representative did not oppose the withdrawal.
The Tribunal held that the penalty under Section 271B is not leviable if the audit report is filed before the completion of assessment. Furthermore, if the reassessment notice under Section 148 is quashed, all subsequent proceedings, including penalty, become invalid.
The Tribunal condoned the delay, citing a liberal approach towards procedural delays and the specific circumstances of the assessee. The case was remitted back to the CIT(A) for a fresh opportunity to present submissions on merits.
The Tribunal condoned the delay in filing the appeal before the CIT(A) due to the assessee's medical condition. The matter was remanded back to the CIT(A) for adjudication on merits.
The Tribunal condoned the delay, imposing a cost on the assessee. It held that the mistakes regarding the cost of acquisition were apparent from the record, and the issue of Section 54F deduction was not properly adjudicated by the lower authorities.
The Tribunal held that the filing of Form No. 67 is directory and not mandatory, and that provisions of Double Taxation Avoidance Agreements override procedural lapses. Therefore, the foreign tax credit cannot be denied due to a delay in filing the form.
The Tribunal held that the denial of a personal hearing to the assessee violated principles of natural justice and the procedure prescribed under the Act and the Faceless Appeal Scheme. Consequently, the matter was remitted back to the CIT(A) for a fresh decision.
The Tribunal held that the rejection order was incorrect as the assessee was not given an opportunity to be heard or to explain why a registration certificate prior to 01.04.2021 could not be submitted. The matter was restored to the CIT(E) for a fresh examination with an opportunity for the assessee to be heard.
The Tribunal held that the notice issued under Section 148 on April 7, 2022, for assessment year 2015-16, was invalid as it was issued after the prescribed time limit of March 31, 2022. Consequently, all subsequent proceedings were also deemed invalid.
The Tribunal held that while the assessee had agricultural lands and conducted some operations, the link between agricultural income and the cash deposits made during the demonetization period was not proven. The Tahsildar's certificate was deemed insufficient and not for the relevant period.
The Tribunal, acknowledging the assessee's claim of ignorance of tax provisions and the fact that their accounts are audited by the State Government, decided to grant one more opportunity to explain the cash deposits. A cost of Rs. 20,000 was levied for non-compliance.
The Tribunal held that the interest deduction claimed was not wholly and exclusively for the purpose of earning income, as the assessee charged a lower rate from his own company than he paid to lenders, especially after reducing the rate from 12% in the previous year without explanation. This indicated a personal interest rather than an income-earning purpose.
The Tribunal held that since the revisionary order under Section 263, which formed the basis for the reassessment, was quashed by the ITAT, the reassessment order could not survive independently. Therefore, the CIT(A)'s decision to annul the assessment was upheld.
The Tribunal held that the CIT(A) should have adopted a liberal and justice-oriented approach to condone the delay, considering the bona fide reasons provided by the assessee. The right of appeal is a valuable statutory right and should not be denied on technicalities.
The Tribunal dismissed the appeal as the assessee did not appear for hearings and failed to provide written submissions. The grounds of appeal also lacked clarity regarding the exact grievance on merits.
The Tribunal held that the Revenue's appeal was not maintainable as the tax effect was below the prescribed monetary limit and did not fall under any exceptions. The assessee's cross-objection was allowed.