Venkatesh Power Works v. CIT

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(1), BANGALORE vs. M/S SRINIVASA TRUST , BANGALORE

In the result all the appeals of the revenue are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…ose, we place reliance on the judgement of jurisdictional High Court in the case of N.M. Vishwanath Vs. CIT reported in 286 ITR 487, wherein they placed reliance on the earlier judgement of the Karnataka High Court in the case of Venkatesh Power Works Vs. CIT 278 ITR 436 and observed that non- disclosure of acquisition of property in written and such acquisition of property unearthed during the search after completion of the assessment and the assessment was reopened after proper approval of the authorities concerned. The reopening is valid. Applying the above ratio, we are of the opinion that in the present case…

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(1), BANGALORE vs. M/S SRINIVASA TRUST , BANGALORE

In the result all the appeals of the revenue are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…ose, we place reliance on the judgement of jurisdictional High Court in the case of N.M. Vishwanath Vs. CIT reported in 286 ITR 487, wherein they placed reliance on the earlier judgement of the Karnataka High Court in the case of Venkatesh Power Works Vs. CIT 278 ITR 436 and observed that non- disclosure of acquisition of property in written and such acquisition of property unearthed during the search after completion of the assessment and the assessment was reopened after proper approval of the authorities concerned. The reopening is valid. Applying the above ratio, we are of the opinion that in the present case…

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-2(1), BANGALORE vs. M/S SRINIVASA TRUST , BANGALORE

In the result all the appeals of the revenue are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…ose, we place reliance on the judgement of jurisdictional High Court in the case of N.M. Vishwanath Vs. CIT reported in 286 ITR 487, wherein they placed reliance on the earlier judgement of the Karnataka High Court in the case of Venkatesh Power Works Vs. CIT 278 ITR 436 and observed that non- disclosure of acquisition of property in written and such acquisition of property unearthed during the search after completion of the assessment and the assessment was reopened after proper approval of the authorities concerned. The reopening is valid. Applying the above ratio, we are of the opinion that in the present case…

M/S. VIJAYA BANK,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX, LTU, BANGLORE

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale

…ion and furnished the details and there is no concealment of any particulars or income. Ld.AR referred to the plethora of decisions in paper book and relied on the jurisdictional Hon’ble High Court decision in the case of Venkatesh Power Works Vs. CIT (2005) [278 ITR 436] and also decision of Canara Sales Corporation Ltd., Vs. CIT [176 ITR 340] the observations are as under: -: 9 :- ITA Nos.1830, 1831, 1835 & 1836/Bang/2018 Vijaya Bank …………………………………………….As explained earlier, the duty on the part of the assessee is to disclose fully and truly all material facts. Omission or failure to discharge this duty alone wi…

M/S. VIJAYA BANK,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX, LTU, BANGALORE

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale

…ion and furnished the details and there is no concealment of any particulars or income. Ld.AR referred to the plethora of decisions in paper book and relied on the jurisdictional Hon’ble High Court decision in the case of Venkatesh Power Works Vs. CIT (2005) [278 ITR 436] and also decision of Canara Sales Corporation Ltd., Vs. CIT [176 ITR 340] the observations are as under: -: 9 :- ITA Nos.1830, 1831, 1835 & 1836/Bang/2018 Vijaya Bank …………………………………………….As explained earlier, the duty on the part of the assessee is to disclose fully and truly all material facts. Omission or failure to discharge this duty alone wi…

JOINT COMMISSIONER OF INCOME TAX, (LTU),, BENGALURU vs. M/S. VIJAYA BANK, BENGALURU

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale

…ion and furnished the details and there is no concealment of any particulars or income. Ld.AR referred to the plethora of decisions in paper book and relied on the jurisdictional Hon’ble High Court decision in the case of Venkatesh Power Works Vs. CIT (2005) [278 ITR 436] and also decision of Canara Sales Corporation Ltd., Vs. CIT [176 ITR 340] the observations are as under: -: 9 :- ITA Nos.1830, 1831, 1835 & 1836/Bang/2018 Vijaya Bank …………………………………………….As explained earlier, the duty on the part of the assessee is to disclose fully and truly all material facts. Omission or failure to discharge this duty alone wi…

JOINT COMMISSIONER OF INCOME TAX, (LTU),, BENGALURU vs. M/S. VIJAYA BANK, BENGALURU

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale

…ion and furnished the details and there is no concealment of any particulars or income. Ld.AR referred to the plethora of decisions in paper book and relied on the jurisdictional Hon’ble High Court decision in the case of Venkatesh Power Works Vs. CIT (2005) [278 ITR 436] and also decision of Canara Sales Corporation Ltd., Vs. CIT [176 ITR 340] the observations are as under: -: 9 :- ITA Nos.1830, 1831, 1835 & 1836/Bang/2018 Vijaya Bank …………………………………………….As explained earlier, the duty on the part of the assessee is to disclose fully and truly all material facts. Omission or failure to discharge this duty alone wi…