SMT. NISHITA NANDISH ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, the appeal of the assessee for AY 2013-14 is partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

TDS on such interest payment in the light of provisions of section 40(a)(ia) of the Act but there is no compliance of the provision of section 40(a)(ia) of the Act by the assessee since on this issue, the assessee was unable to substantiate the genuineness of expenditure incurred for business purposes as well

SMT. NISHITA NANDISH,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, the appeal of the assessee for AY 2013-14 is partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

TDS on such interest payment in the light of provisions of section 40(a)(ia) of the Act but there is no compliance of the provision of section 40(a)(ia) of the Act by the assessee since on this issue, the assessee was unable to substantiate the genuineness of expenditure incurred for business purposes as well

SMT. NISHITA NANDISH,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, the appeal of the assessee for AY 2013-14 is partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

TDS on such interest payment in the light of provisions of section 40(a)(ia) of the Act but there is no compliance of the provision of section 40(a)(ia) of the Act by the assessee since on this issue, the assessee was unable to substantiate the genuineness of expenditure incurred for business purposes as well

VEERENDRA KUMAR PATIL,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME, CENTRAL CIRCLE-1(2), BANGALORE

In the result, the appeal of the assessee for AY 2013-14 is partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

TDS on such interest payment in the light of provisions of section 40(a)(ia) of the Act but there is no compliance of the provision of section 40(a)(ia) of the Act by the assessee since on this issue, the assessee was unable to substantiate the genuineness of expenditure incurred for business purposes as well

JAYARAMA REDDY BOOPESH REDDY,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(4), BENGALURU

In the result the appeal of the assessee is hereby partly allowed\nfor statistical purposes

TDS provisions.", "result": "Partly Allowed", "sections": [ "132", "132(4)", "153A", "131", "32", "37", "38(2)", "41(1)", "40(a)(ia)", "194C

JAYARAMA REDDY BOOPESH REDDY,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(4), BENGALURU

In the result the appeal of the assessee is hereby partly allowed\nfor statistical purposes

131", "41(1)", "40(a)(ia)", "194C", "194J", "32", "37", "38(2)", "24" ], "issues": "Whether the disallowance of expenses and depreciation on luxury cars, based on a statement recorded under section 132(4) without corroborative evidence, is justified? Whether payments for online advertising platforms are subject to TDS

M/S PRESTIGE ESTATES PROJECTS LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-18(1), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri N.V.Vasudevan, Vp & Shri Chandra Poojari, Am

TDS liability in respect of 15 land owners who were paid security deposit in excess of Rs 50 lakhs. 3.8 On appeal, the CIT(A) confirmed the order of the Assessing Officer. Against this, the assessee is in appeal before the Tribunal. 3.9 The learned AR submitted that section 194IA has been inserted by the Finance Act 2013 with effect

M/S. MANGALORE ROUND TABLE TRUST,MANGALORE vs. COMMISSIONER OF INCOME TAX (EXEMPTIONS), BANGALORE

In the result, the appeal is partly allowed

Bench: Shri N.V.Vasudevan & Shri A.K.Garodiaita No.286(Bang)/2019 (Assessment Year : 2007-08) M/S Shetty Constructions, Shetty Enclave, Aland Road, Kalaburagi-585 103 Panno.Aaffs1811G Appellant Vs The Asst. Commissioner Of Income Tax, Circle-(1), Kalaburagi Respondent Appellant By : Shri Sreehari Kutsa, Advocate Revenue By : Shri Manjeet Singh, Addl.Cit

131 to make a reference to the Valuation Officer for estimating the cost of construction of properties has been a subject-matter of litigation. A new section 142A has been inserted by the Finance (No. 2) Act, 2004 to specifically provide that an Assessing Officer has the power to make a reference to the Valuation Officer for estimating the value

M/S SHETTY CONSTRUCTIONS ,KALABURAGI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-(1), KALABURAGI

In the result, the appeal is partly allowed

Bench: Shri N.V.Vasudevan & Shri A.K.Garodiaita No.286(Bang)/2019 (Assessment Year : 2007-08) M/S Shetty Constructions, Shetty Enclave, Aland Road, Kalaburagi-585 103 Panno.Aaffs1811G Appellant Vs The Asst. Commissioner Of Income Tax, Circle-(1), Kalaburagi Respondent Appellant By : Shri Sreehari Kutsa, Advocate Revenue By : Shri Manjeet Singh, Addl.Cit

131 to make a reference to the Valuation Officer for estimating the cost of construction of properties has been a subject-matter of litigation. A new section 142A has been inserted by the Finance (No. 2) Act, 2004 to specifically provide that an Assessing Officer has the power to make a reference to the Valuation Officer for estimating the value

KARNATAKA INDUSTRIAL AREA DEVELOPMENT BOARD ,DHARWAD vs. INCOME TAX OFFICER TDS WARD-1 , HUBLI

In the result, the assessee's appeal is allowed for statistical purposes

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

131 of the Act from the Asst. Commissioner of Special Land Acquisition, KIADB, Dharwad. The Assessing Officer found that the assessee could not establish that the TDS was not deducted at the time of payment in respect of Agreements produced and not collecting subsequently. Hence the Assessing Officer observed that the compensation paid shall attract TDS under Section

IBM CORPORATION,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, INTERNATIONAL TAXATION-CIRCLE-1(2) , BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

TDS under section 192 in respect of all the salaries of the seconded employees, in respect of which costs were reimbursed to the IBM foreign companies; Thereafter, reassessment/ assessment proceedings were conducted on the IBM foreign entities and reassessment orders under section 143(3) read with section 147 of the Act/ assessment order under section

IBM ISRAEL LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX , INTERNATIONAL TAXATION-CIRCLE-1(2) , BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

TDS under section 192 in respect of all the salaries of the seconded employees, in respect of which costs were reimbursed to the IBM foreign companies; Thereafter, reassessment/ assessment proceedings were conducted on the IBM foreign entities and reassessment orders under section 143(3) read with section 147 of the Act/ assessment order under section

IBM UNITED KINGDOM LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX , INTERNATIONAL TAXATION-CIRCLE-1(2), BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

TDS under section 192 in respect of all the salaries of the seconded employees, in respect of which costs were reimbursed to the IBM foreign companies; Thereafter, reassessment/ assessment proceedings were conducted on the IBM foreign entities and reassessment orders under section 143(3) read with section 147 of the Act/ assessment order under section

IBM CORPORATION,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, INTERNATIONAL TAXATION, CIRCLE-1(2)(1) , BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

TDS under section 192 in respect of all the salaries of the seconded employees, in respect of which costs were reimbursed to the IBM foreign companies; Thereafter, reassessment/ assessment proceedings were conducted on the IBM foreign entities and reassessment orders under section 143(3) read with section 147 of the Act/ assessment order under section

JAYARAMA REDDY BOOPESH REDDY,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRLCE-2(4), BENGALURU

131", "32", "37", "38(2)", "40(a)(ia)", "194C", "194J", "41(1)", "24" ], "issues": "Whether the expenses and depreciation claimed on luxury cars used for business promotion can be disallowed based solely on a statement recorded during search proceedings without corroborating evidence? Whether the disallowance made under Section 40(a)(ia) for non-deduction of TDS

JAYARAMA REDDY BOOPESH REDDY,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(4), BENGALURU

In the result the appeal of the assessee is hereby partly allowed\nfor statistical purposes

131 of the Act. However, the law is well-settled by the\nHon'ble Supreme Court in Abhisar Buildwell Pvt. Ltd. reported in 149\ntaxmann.com 257 that in search assessments under Section 153A of the\nAct, no addition can be made without the existence of incriminating\nmaterial pertaining to the completed or unabated assessment year. In\nthe present case

JAYARAMA REDDY BOOPESH REDDY,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(4), BENGALURU

In the result the appeal of the assessee is hereby partly allowed\nfor statistical purposes

131 of the Act. However, the law is well-settled by the\nHon'ble Supreme Court in Abhisar Buildwell Pvt. Ltd. reported in 149\ntaxmann.com 257 that in search assessments under section 153A of the\nAct, no addition can be made without the existence of incriminating\nmaterial pertaining to the completed or unabated assessment year. In\nthe present case

KOGOD BASAVARAJU JAYACHANDRA ,HASSAN vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result the ITA No

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

TDS deduction for the business purpose of the same. The cash deposited in bank account held by the assessee for the year under consideration with supporting documentary evidence. In response to the above notice, assessee had submitted reply on 03.11.2021 copy of balance sheet, profit and loss account, interest paid. Further, a notice u/142(1)s was issued