“JDA”

M/S. Century Bangalore City Centre Private Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, the appeals of the assessee are partly allowed

Bench: Shri N.V. Vasudevanand Ms. Padmavathy S

project. It was also the plea of the assessee that it was meant to negotiate for assigning the agreement of sale and JDA to Shri. Jitendra Virwani. In fact, in answer to question No.15 as to the reason why the seized ITA Nos.352 to 357/Bang/2020 Page 16 of 23 document

Sri Kamanahalli Pilla Reddy Nagesh, Bangalore vs. Income Tax Officer, Ward- 4(3)(5), Bangalore

Accordingly, this ground of the assessee is allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2014-15 Shri Kamanahalli Pilla Reddy Nagesh, Kamanahalli Village, Kagur The Income Tax Post, Officer, Sarjapura Road, Ward – 4 [3] [5], Anekal Taluk, Bangalore. Vs. Bangalore – 562 125. Pan: Adfpn8365H Appellant Respondent Assessee By : Shri Guruswamy, Itp : Shri V.S. Chakrapani, Cit- Revenue By Dr Date Of Hearing : 01-06-2022 Date Of Pronouncement : 21-06-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 28.03.2019 Passed By Ld.Cit(A)-9, Bangalore For A.Y. 2014-15 On The Following Grounds Of Appeal: “1. The Orders Of The Authorities Below In So Far As They Are Against The Appellant, Are Opposed To Law, Equity, Weight Of Evidence, Probabilities, Facts & Circumstances Of The Case. 2. The Learned Cit[A] Is Not Justified In Upholding The Assessment Order Passed U/S. 143[3] Of The Act Despite The Fact That No Valid Notice U/S.143[2] Of The Act Was Served

exempt from capital gains in view of s. 2 (14) of the Act. It is ordered accordingly." 10. Moreover, in the instant case, the JDA was also finally cancelled vide Deed of Cancelation dated 5.5.2015 and copy of which is available at pages 240 to 254 of the compilation ... refundable security received by the assessee was returned back to the developer. Through JDA, though it was agreed to hand over possession of land to the developer, but in fact possession was never handed over to the developer for further activities of development. Therefore, there was no transfer of asset

M/S. Reddy Structures (Private) Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle - 5(1)(1), Bangalore

In the result, both the appeals of the assessee are allowed

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy S

facts and documents relating to project ‘Mahavir springs’ were presented. Accordingly we notice that the assessee has entered into a joint development agreement [JDA] dated 27.9.2014 [pg. 53 of PB] with the landowners for development of residential flats on the land situated at Sy.No.4/2, ITA Nos.1302 & 1303/Bang/2019 Page ... assessee claimed a sum of Rs.1,52,02,456 towards the said project ‘Mahavir Springs’ [pg. 2B & 48 of PB] in terms of the JDA. 11. During the course of original assessment proceedings u/s. 143(3) of the Act, the AO had considered the findings of the survey with regard

M/S. Reddy Structures (Private) Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle - 5(1)(1), Bangalore

In the result, both the appeals of the assessee are allowed

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy S

facts and documents relating to project ‘Mahavir springs’ were presented. Accordingly we notice that the assessee has entered into a joint development agreement [JDA] dated 27.9.2014 [pg. 53 of PB] with the landowners for development of residential flats on the land situated at Sy.No.4/2, ITA Nos.1302 & 1303/Bang/2019 Page ... assessee claimed a sum of Rs.1,52,02,456 towards the said project ‘Mahavir Springs’ [pg. 2B & 48 of PB] in terms of the JDA. 11. During the course of original assessment proceedings u/s. 143(3) of the Act, the AO had considered the findings of the survey with regard

Sri. Venkateswara Developers, Bangalore vs. Assistant Commissioner of Income Tax, Circle- 7(2)(1), Bengaluru

In the result, both the appeals filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Shri George George K.

Assessing officer in the original assessment order passed u/s 143(3)” 4.1. Facts of the issue are that the appellant entered into JDA on 11-10-2010 with land owner Kamalalaya Hisoft Ltd, Hyderabad for construction of a commercial building namely Gold Hill Supreme Software Park at Electronic City, Bangalore ... Bank on 08-11-2010 for the construction of software technology park building namely Gold Hill Supreme Software Park at Electronic City, Bangalore under JDA dated 11-10-2010 with land owner Kamalalaya Hissoft Ltd., Hyderabad. It is submitted that the assessee spent a sum of Rs.17.01 crores during

Sri Venkateswara Developers, Bangalore vs. Assistant Commissioner of Income Tax, Circle- 7(2)(1), Bangalore

In the result, both the appeals filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Shri George George K.

Assessing officer in the original assessment order passed u/s 143(3)” 4.1. Facts of the issue are that the appellant entered into JDA on 11-10-2010 with land owner Kamalalaya Hisoft Ltd, Hyderabad for construction of a commercial building namely Gold Hill Supreme Software Park at Electronic City, Bangalore ... Bank on 08-11-2010 for the construction of software technology park building namely Gold Hill Supreme Software Park at Electronic City, Bangalore under JDA dated 11-10-2010 with land owner Kamalalaya Hissoft Ltd., Hyderabad. It is submitted that the assessee spent a sum of Rs.17.01 crores during

Mustafa Khaleel, Bangalore vs. The Assistant Director of Income Tax, CPC, Bangalore

In the result appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Chandra Poojariassessment Year: 2018-19

Village, Begur Hobli, Bangalore South Taluk, Mustafa Khaleel, Bangalore Page 2 of 10 Bangalore. The said land was subject to the Joint Development Agreement (JDA) with Skylark Constructions Company dated 16- 12-2008. After being JDA is entered out of said land of 1 Acre 40 Guntas, the land measuring

M/S. Devanam Constructions Private Limited, Bangalore vs. The Assistant Commissioner of Income Tax, Circle- 2(1)(2), Bangalore

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

Enclosed in the paper book are the financial statement of the assessee for the relevant assessment year, financial statement of Kausthubha Project Private Limited, JDA agreement entered between the assessee and Pacific Heights (JDA dated 06.11.2014), agreement to sale dated 14.02.2012 between the assessee and M/s.Kausthabha Projects Private Limited ... receipt of advance from KPPL (first advance on 14.02.2012). The assessee has a parcel of land at Okalipuram. The assesee had entered into JDA only on 06.11.2014 with M/s. Pacific Heights for development of the said land into a multistoried apartment complex. One residential unit in Pacific Heights is sought

Assistant Commissioner of Income Tax Central Circle-2(1), Bangalore vs. M/S Chaitanya Properties Pvt Ltd, Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

states that documents marked as 14/ST/132 & 18/ST/132, belonging to the Respondent, were found and seized. As per the AO, the material 14/ST/132 contains a JDA dated 05.02.2005 between the assessee & Prestige Estates Projects Pvt. Ltd [PEPL] and other related documents. Material 18/ST/132 contains details of loans sanctions to the assessee ... JDA is noticed in the assessment orders passed u/s 143(3) for the A.Y's 2005-06 & 2007-08 on 31/12/2007 & 31/12/2009, long before the search on 06/08/2012. He submitted that neither of the above documents are incriminating in nature, nor are they hitherto undisclosed to the department

Assistant Commissioner of Income Tax Central Circle-2(1), Bangalore vs. M/S Chaitanya Properties Pvt Ltd, Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

states that documents marked as 14/ST/132 & 18/ST/132, belonging to the Respondent, were found and seized. As per the AO, the material 14/ST/132 contains a JDA dated 05.02.2005 between the assessee & Prestige Estates Projects Pvt. Ltd [PEPL] and other related documents. Material 18/ST/132 contains details of loans sanctions to the assessee ... JDA is noticed in the assessment orders passed u/s 143(3) for the A.Y's 2005-06 & 2007-08 on 31/12/2007 & 31/12/2009, long before the search on 06/08/2012. He submitted that neither of the above documents are incriminating in nature, nor are they hitherto undisclosed to the department

Shri M. Thimmegowda, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle - 1(3), Bangalore

In the result, both the appeals by the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

exempt from capital gains in view of s. 2 (14) of the Act. It is ordered accordingly." 10. Moreover, in the instant case, the JDA was also finally cancelled vide Deed of Cancelation dated 5.5.2015 and copy of which is available at pages 240 to 254 of the compilation ... refundable security received by the assessee was returned back to the developer. Through JDA, though it was agreed to hand over possession of land to the developer, but in fact possession was ITA Nos.1035 & 1036/Bang/2019 Page 44 of 78 never handed over to the developer for further activities of development

Shri M. Thimmegowda, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle - 1(3), Bangalore

In the result, both the appeals by the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

exempt from capital gains in view of s. 2 (14) of the Act. It is ordered accordingly." 10. Moreover, in the instant case, the JDA was also finally cancelled vide Deed of Cancelation dated 5.5.2015 and copy of which is available at pages 240 to 254 of the compilation ... refundable security received by the assessee was returned back to the developer. Through JDA, though it was agreed to hand over possession of land to the developer, but in fact possession was ITA Nos.1035 & 1036/Bang/2019 Page 44 of 78 never handed over to the developer for further activities of development

Late Smt.K.Leelavathy, by L/R Shri M.Thimmegowda, Bangalore vs. Deputy Commissioner of Income Tax Central Circle-1(3), Bangalore

In the result, all the appeals by the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

exempt from capital gains in view of s. 2 (14) of the Act. It is ordered accordingly." 10. Moreover, in the instant case, the JDA was also finally cancelled vide Deed of Cancelation dated 5.5.2015 and copy of which is available at pages 240 to 254 of the compilation ... refundable security received by the assessee was returned back to the developer. Through JDA, though it was agreed to hand over possession of land to the developer, but in fact possession was never handed over to the developer for further activities of development. Therefore, there was no transfer of asset

Late Smt.K.Leelavathy by L/R Shri M.Thimmegowda, Bangalore vs. Deputy Commissioner of Income Tax Central Circle-1(3), Bangalore

In the result, all the appeals by the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

exempt from capital gains in view of s. 2 (14) of the Act. It is ordered accordingly." 10. Moreover, in the instant case, the JDA was also finally cancelled vide Deed of Cancelation dated 5.5.2015 and copy of which is available at pages 240 to 254 of the compilation ... refundable security received by the assessee was returned back to the developer. Through JDA, though it was agreed to hand over possession of land to the developer, but in fact possession was never handed over to the developer for further activities of development. Therefore, there was no transfer of asset

Late Smt.K>Leelavathy by L/R Shri.M.Thimmegowda, Bangalore vs. Deputy Commissioner of Income Tax Central Circle-1(3), Bangalore

In the result, all the appeals by the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

exempt from capital gains in view of s. 2 (14) of the Act. It is ordered accordingly." 10. Moreover, in the instant case, the JDA was also finally cancelled vide Deed of Cancelation dated 5.5.2015 and copy of which is available at pages 240 to 254 of the compilation ... refundable security received by the assessee was returned back to the developer. Through JDA, though it was agreed to hand over possession of land to the developer, but in fact possession was never handed over to the developer for further activities of development. Therefore, there was no transfer of asset

Late Smt.K.Leelavathy by L/R Shri M.Thimmegowda, Bangalore vs. Deputy Commissioner of Income Tax Central Circle-1(3), Bangalore

In the result, all the appeals by the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

exempt from capital gains in view of s. 2 (14) of the Act. It is ordered accordingly." 10. Moreover, in the instant case, the JDA was also finally cancelled vide Deed of Cancelation dated 5.5.2015 and copy of which is available at pages 240 to 254 of the compilation ... refundable security received by the assessee was returned back to the developer. Through JDA, though it was agreed to hand over possession of land to the developer, but in fact possession was never handed over to the developer for further activities of development. Therefore, there was no transfer of asset