66 (Cal) 11. Bagmane Constructions (P) Ltd. v. Commissioner of Income Tax, Bangalore

57 Taxmann.com 120High Court2015#9838 most cited

What is 66 (Cal) 11. Bagmane Constructions (P) Ltd. v. Commissioner of Income Tax, Bangalore authority for?

Loans or advances given by a company to shareholders are not deemed dividends under section 2(22)(e) if they are given in return for an advantage conferred on the company, such as being for business purposes like the purchase of an asset. This also applies if the payment is not out of accumulated profits or is a trade advance made as consideration for goods received or asset purchase.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also referred to as

Bagmane Constructions · CIT v. Bagmane Constructions · Section 2(22)(e) · deemed dividend · loan to shareholder · advance for asset purchase · business purpose · accumulated profits · trade advance · Karnataka High Court

Sections most often in play

Section 142(1)Section 143(2)Section 143(3)Section 153ASection 2(22)(e)Section 245D(1)Section 245D(2C)Section 245D(4)

Issues it is cited on

accumulated profitssection 2(22)deemed dividendsection 2(22)(e)beneficial ownerpersoncompanybusinessindiainteresttotal income

Judgments citing 66 (Cal) 11. Bagmane Constructions (P) Ltd. v. Commissioner of Income Tax, Bangalore

Assistant Commissioner of Income Tax, Central Circle 2(2), Chennai vs. Kishore Kumar Jain, Chennai

In the result the three appeals filed by the revenue are dismissed

ITA 2848/CHNY/2024[2013-14]Status: DisposedITAT Chennai26 May 2025AY 2013-14

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita Nos.: 2847, 2848 & 2849 /Chny/2024 िनधा"रण वष" / Assessment Years: 2012-13, 2013-14 & 2016-17 Assistant Commissioner Of Kishore Kumar Jain, Income Tax, Vs. 62, Bvk Sampath Road, Central Circle -2 (2), Vepery, Chennai. Chennai – 600 007. [Pan: Aahpj-0401-H] (अपीलाथ"/Appellant) (""थ"/Respondent)

For Appellant: Mr. Shivanand K Kalakeri, CITFor Respondent: Mr. B.Ramakrishnan, F.C.A
Section 143(2)Section 143(3)Section 153ASection 2(22)(e)Section 250

…आयकर अपीलीय अिधकरण, ‘ए’ "ायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, CHENNAI "ी एस एस िव"ने" रिव, "ाियक सद" एवं "ी एस. आर. रघुनाथा, लेखा सद" के सम" BEFORE SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER AND SHRI S. R. RAGHUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.: 2847, 2848 & 2849 /Chny/2024 िनधा"रण वष" / Assessment Years: 2012-13, 2013-14 & 2016-17 Assistant Commissioner of Kishore Kumar Jain, Income Tax, vs. 62, BVK Sampath Road, Central Circle -2 (2), Vepery, Chennai. Chennai – 600 007. [PAN: AAHPJ-0401-H] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/Appellant by : Mr. Shivana…

Assistant Commissioner of Income Tax, Central Circle 2(2), Chennai vs. Kishore Kumar Jain, Chennai

ITA 2847/CHNY/2024[2012-13]Status: DisposedITAT Chennai26 May 2025AY 2012-13

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita Nos.: 2847, 2848 & 2849 /Chny/2024 निर्धारण वर्ष / Assessment Years: 2012-13, 2013-14 & 2016-17 Assistant Commissioner Of Income Tax, Central Circle -2 (2), Chennai. (अपीलार्थी/Appellant) अपीलार्थी की ओर से/Appellant By प्रत्यर्थी की ओर से/Respondent By सुनवाई की तारीख/Date Of Hearing घोषणा की तारीख/Date Of Pronouncement Kishore Kumar Jain, Vs.62, Bvk Sampath Road, Vepery, Chennai - 600 007. [Pan: Aahpj-0401-H] (प्रत्यर्थी/Respondent) Mr. Shivanand K Kalakeri, Cit Mr. B.Ramakrishnan, F.C.A. 13.03.2025 26.05.2025 आदेश /Order Per S. R. Raghunatha: These Three Appeals Filed By The Revenue Are Directed Against Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), Chennai, All Dated 10.09.2024 & Pertains To Assessment Years 2012-13, 2013-14 & 2016-17. Since, Facts Are Identical & Issues Are Common, For The Sake Of Convenience, The Appeals Filed By The Revenue Are Being Heard Together & Disposed Of, By This Consolidated Order. 2. The Revenue Has Raised The Following Common Grounds Of Appeal For All The

Section 143(2)Section 143(3)Section 153ASection 2(22)(e)Section 250

…आयकर अपीलीय अधिकरण, 'ए' न्यायपीठ, चेन्नई IN THE INCOME TAX APPELLATE TRIBUNAL, 'A' BENCH, CHENNAI श्री एस एस विश्वनेत्र रवि, न्यायिक सदस्य एवं श्री एस. आर. रघुनाथा, लेखा सदस्य के समक्ष BEFORE SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER AND SHRI S. R. RAGHUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.: 2847, 2848 & 2849 /Chny/2024 निर्धारण वर्ष / Assessment Years: 2012-13, 2013-14 & 2016-17 Assistant Commissioner of Income Tax, Central Circle -2 (2), Chennai. (अपीलार्थी/Appellant) अपीलार्थी की ओर से/Appellant by प्रत्यर्थी की ओर से/Respondent by सुनवाई की तारीख/Date of Hearing घोषणा की तारीख/Date of Pronouncemen…

Dy. Commissioner of Income Tax, Agra vs. Mohammad Ashraf Qureshi, Agra

The appeal stand dismissed

ITA 137/AGR/2024[2014-15]Status: DisposedITAT Agra22 Apr 2025AY 2014-15

Bench: HON’BLE SHRI SATBEER SINGH GODARA, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL (Accountant Member)

For Appellant: Sh. Deependra Mohan, CA – Ld. ARFor Respondent: Sh. Shailender Shrivastava – Ld. Sr. DR
Section 144Section 148Section 2(22)(e)

…IN THE INCOME TAX APPELLATE TRIBUNAL “DB” BENCH, AGRA BEFORE HON’BLE SHRI SATBEER SINGH GODARA, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं. / ITA No.137/Agr/2024 (िनधा"रणवष" / Assessment Year: 2014-15) DCIT (Central Circle) Mohammad Ashraf Qureshi बनाम/ Agra. 18/129-A, Malko Street Vs. Tajganj, Agra. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AABPQ-1133-F (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant by : Sh. Deependra Mohan, CA – Ld. AR " थ"कीओरसे/Respondent by : Sh. Shailender Shrivastava – Ld. Sr. DR सुनवाईकीतारीख/Date of Hearing : 18-02-2025 घोषणाकीतारीख /Date of Pronouncement :…

Dr. L.S. Ravi Prakash, Bangalore vs. Deputy Commissioner of Income Tax, Circle-5(1), Bangalore

In the result, the appeal of the assessee is partly allowed

ITA 30/BANG/2021[2011-12]Status: DisposedITAT Bangalore28 Oct 2022AY 2011-12

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2011-12

For Appellant: Shri G. Sathyanarayana, A.RFor Respondent: Shri Praveen Karanth, D.R
Section 78

…ITA No.30 /Bang/2021 Dr. L.S. Ravi Prakash, Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year: 2011-12 Dr. L.S. Ravi Prakash C/o Kala Farm Deputy Commissioner of Rajarajeshwari Nagar P.O. Income-tax Vs. Bangalore 560 098 Circle-5(1) Bangalore PAN NO : AFSPP0916P APPELLANT RESPONDENT Appellant by : Shri G. Sathyanarayana, A.R. Respondent by : Shri Praveen Karanth, D.R. Date of Hearing : 14.09.2022 Date of Pronouncement : 28.10.2022 O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: Thi…

M/S Assetz Infrastructure Private Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-1(1)(1), Bangalore

In the result, the grounds 3

ITA 563/BANG/2019[2014-15]Status: DisposedITAT Bangalore23 Mar 2022AY 2014-15

Bench: Shri George George K. & Shri B.R. Baskaranassessment Year:2014-15

For Appellant: Shri Padam Chand Khincha, A.RFor Respondent: Smt. Priyadarshini Besaganni, D.R
Section 2(22)(e)

…ITA No.563/Bang/2019 M/s. Assetz Infrastructure Pvt. Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’BENCH: BANGALORE BEFORE SHRI GEORGE GEORGE K., JUDICIAL MEMBER AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year:2014-15 M/s. Assetz Infrastructure Pvt. Ltd. Assetz House, No.30, 3rd Floor Deputy Commissioner of Crescent Road Income-tax Vs. Bengaluru 560 001 Circle-2(2) Bengaluru PAN NO : AAGCA7614K APPELLANT RESPONDENT Appellant by : Shri Padam Chand Khincha, A.R. Respondent by : Smt. Priyadarshini Besaganni, D.R. Date of Hearing : 06.01.2022 Date of Pronouncement : 23.03.2022 O R D E R P…

The DCIT, Anand Circle, Anand vs. Shri Dipakbhai Chandrakant Shah, Anand

In the result, the appeal of the Revenue is dismissed

ITA 2866/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad25 Jun 2021AY 2011-12

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No.2866/Ahd/2015 िनधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T, Shri Dipakbhai Chandrakant Shah, Anand Circle, Vs. C/O. Artee Roadways, Anand. Amul Dairy Road, Anand-388001. Pan: Ajgps8977F

For Appellant: Shri A.L. Thakkar, A.RFor Respondent: Shri L.P. Jain, Sr.D.R
Section 2(22)(e)

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ C’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And Ms MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./ITA No.2866/AHD/2015 िनधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T, Shri Dipakbhai Chandrakant Shah, Anand Circle, Vs. C/O. Artee Roadways, Anand. Amul Dairy Road, Anand-388001. PAN: AJGPS8977F (Applicant) (Respondent) Revenue by : Shri L.P. Jain, Sr.D.R Assessee by : Shri A.L. Thakkar, A.R सुनवाई क" तारीख/Date of Hearing : 01/06/2021 घोषणा क" तारीख /Date of Pronouncement: 25…

DCIT vs. M/S Coastal Costruction

In the result, the revenue’s appeal is dismissed, while the CO by the assessee is partly allowed for statistical purposes

ITA 1005/BANG/2013[2006-07]Status: DisposedITAT Bangalore16 Mar 2021AY 2006-07

Bench: Shri Chandra Poojari & Shri George George Kdy. Commissioner Of Income Tax, Central Circle 2(3), Bangalore. …. Appellant.

For Appellant: Shri Narendra Sharma, AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(D.R.)
Section 132Section 143Section 153ASection 153CSection 2Section 2(22)(e)Section 234

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “ B ” BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K, JUDICIAL MEMBER Dy. Commissioner of Income Tax, Central Circle 2(3), Bangalore. …. Appellant. Vs. M/s.Coastal Constructions, Zubaida Manzil, J.M. Road, Suratkal, Mangalore. …… Respondent. PAN AAGFC 3601F C.O. No.40/Bang/2014 (In ITA No.1005/Bang/2013) (Assessment Year: 2006-07) (By Assessee) Assessee By: Shri Narendra Sharma, Advocate. Revenue By: Shri Muzaffar Hussain, CIT(D.R.) Date of Hearing : 15.02.2021. Date of Pronouncement : 16.03.2021. Page 2 of 1…

Smt Jamuna Vernekar vs. The Deputy Commissioner of Income Tax

In the result, the impugned order of the tribunal dated

ITA/43/2013HC Karnataka10 Feb 2021

Bench: ALOK ARADHE,R. NATARAJ

Section 143(1)Section 143(2)Section 2(22)(e)Section 260

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 10TH DAY OF FEBRUARY 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE NATARAJ RANGASWAMY I.T.A. NO.43 OF 2013 BETWEEN: SMT. JAMUNA VERNEKAR #107, 2ND MAIN KORAMANGALA, I BLOCK BANGALORE-560034. .... APPELLANT (BY MR. V. CHANDRASEKHAR, ADV., FOR MR. M. LAVA, ADV.,) AND: THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-12(5), R.P. BHAVAN NRUPATHUNGA ROAD BANGALORE-560001. ... RESPONDENT (BY MR. E.I. SANMATHI, ADV.,) - - - THIS I.T.A. IS FILED UNDER SEC. 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER…

Deputy Commissioner of Income Tax, Central Circle - 2(2), Bangalore vs. M/S. Assetz Infrastructure Private Limited, Bangalore

In the result, the appeal filed by the assessee and revenue are partly allowed

ITA 983/BANG/2019[2014-15]Status: DisposedITAT Bangalore02 Dec 2020AY 2014-15

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year: 2014-15

For Appellant: Shri B. Sudheendra, A.RFor Respondent: Shri Sunil Kumar Agarwal, D.R
Section 14ASection 2(22)(e)Section 36(1)(iii)

…ITA No.563&983/Bang/2019 Assetz Infrastructure Pvt. Ltd., Bengaluru IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year: 2014-15 M/s. Assetz Infrastructure Pvt. Ltd. 2/1, Second Floor, Deputy Commissioner Embassy Icon Annexe of Income-tax Infantry Road Vs. Circle-1(1)(1) Bengaluru-560 001 Bengaluru PAN NO : AAGCA7614K APPELLANT RESPONDENT Assessment Year: 2014-15 M/s. Assetz Infrastructure Deputy Commissioner of Pvt. Ltd. Income-tax 2/1, Second Floor, Embassy Vs. Circle-2(2) Icon Annexe Bengaluru In…

Asian Business Conection Pvt. Ltd., Bhopal vs. DCIT - 1(1), Bhopal

ITA 936/IND/2018[2015-16]Status: DisposedITAT Indore25 Sept 2019AY 2015-16

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2015-16 M/S. Asian Business Dcit-1(1), Connections Private Ltd, Vs. Bhopal Fm-18, Man Sarovar Complex, 7No. Stop, Shivaji Nagar, Bhopal (Appellant) (Respondent ) Pan No.Aaica1206D

Section 139(1)Section 143(2)Section 143(3)Section 2Section 2(22)Section 2(22)(e)Section 35D

…Asian Business Connection Private Limited आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE HON'BLE KUL BHARAT, JUDICIAL MEMBER AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER Assessment Year 2015-16 M/s. Asian Business DCIT-1(1), Connections Private Ltd, Vs. Bhopal FM-18, Man Sarovar Complex, 7No. Stop, Shivaji Nagar, Bhopal (Appellant) (Respondent ) PAN No.AAICA1206D Revenue by Smt. Ashima Gupta, CIT Assessee by S/Shri Sumit Nema, Sr. Adv. & Ayush Gupta, Adv Date of Hearing 10.07.2019 Date of Pronouncement 25.09.2019 O R D E R PER MANISH BORAD, AM. The…

Mr.Mn Jahanath, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

ITA 1652/BANG/2014[2011-12]Status: DisposedITAT Bangalore07 Oct 2016AY 2011-12

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri C.P.Ramaswamy, AdvocateFor Respondent: Smt. Neera Malhotra, CIT(DR)
Section 132Section 132ASection 139(4)Section 143(2)Section 143(3)Section 153ASection 2(22)(e)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, BANGALORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ITA Nos.1649 to 1652/Bang/2014 (Assessment years:2008-09 to 2011-12) Shri M.N.Jahanath, No.108/1, 5th cross, 3rd main, MLA Layout, Bhoopasandra, Bangalore. … Appellant PAN: AFUPJ 4182 M Vs. Deputy Commissioner of Income-tx, Central Circle 2(2), Bangalore. … Respondent Appellant by : Shri C.P.Ramaswamy, Advocate Respondent by : Smt. Neera Malhotra, CIT(DR) Date of hearing : 22/07/2016 Date of pronouncement : 07/10/2016 O R D E R Per BENCH: These are appeals filed b…