M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

13. In Abdul Rajaks case (supra) , the Kerala High Court took the view that a statement recorded under sub-section (4) of Section 132 of the Act can constitute the basis for passing a block assessment order, notwithstanding the retraction from it, by the assessee. The discussion in this behalf reads as under: "8. It cannot be doubted

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

13. In Abdul Rajaks case (supra) , the Kerala High Court took the view that a statement recorded under sub-section (4) of Section 132 of the Act can constitute the basis for passing a block assessment order, notwithstanding the retraction from it, by the assessee. The discussion in this behalf reads as under: "8. It cannot be doubted

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

13. In Abdul Rajaks case (supra) , the Kerala High Court took the view that a statement recorded under sub-section (4) of Section 132 of the Act can constitute the basis for passing a block assessment order, notwithstanding the retraction from it, by the assessee. The discussion in this behalf reads as under: "8. It cannot be doubted

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

13. In Abdul Rajaks case (supra) , the Kerala High Court took the view that a statement recorded under sub-section (4) of Section 132 of the Act can constitute the basis for passing a block assessment order, notwithstanding the retraction from it, by the assessee. The discussion in this behalf reads as under: "8. It cannot be doubted

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

13. In Abdul Rajaks case (supra) , the Kerala High Court took the view that a statement recorded under sub-section (4) of Section 132 of the Act can constitute the basis for passing a block assessment order, notwithstanding the retraction from it, by the assessee. The discussion in this behalf reads as under: "8. It cannot be doubted

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BANGALORE

section 132A. 50.3 Applicability-These\namendments will take effect from the 1st day of June, 2007.\"\n\n6.2 From the perusal of the section 153D of the Act read with the CBDT\nCircular No. 3 of 2008, dated 12-3-2008, the legislative intent can be gathered\nso far as that the legislature in its highest wisdom made it compulsory

M/S B B JEWELLERS AND FINANCE PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(4), BANGALORE

In the result, all the five appeals of the assessee are allowed for statistical purposes

Bench: Shri A. K. Garodia & Smt. Beena Pillai

13. The appellant denies itself liable to be levied to interest under sections 234A(3), 234B(3), 234B and 234C of the Act and further the computation of interest of was not provided to the appellant as regard to the rate, period and method of calculation of interest under the facts and circumstances of the case. The appellant expressly urges

M/S B B JEWELLERS AND FINANCE PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(4), BANGALORE

In the result, all the five appeals of the assessee are allowed for statistical purposes

Bench: Shri A. K. Garodia & Smt. Beena Pillai

13. The appellant denies itself liable to be levied to interest under sections 234A(3), 234B(3), 234B and 234C of the Act and further the computation of interest of was not provided to the appellant as regard to the rate, period and method of calculation of interest under the facts and circumstances of the case. The appellant expressly urges

M/S B B JEWELLERS AND FINANCE PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(4), BANGALORE

In the result, all the five appeals of the assessee are allowed for statistical purposes

Bench: Shri A. K. Garodia & Smt. Beena Pillai

13. The appellant denies itself liable to be levied to interest under sections 234A(3), 234B(3), 234B and 234C of the Act and further the computation of interest of was not provided to the appellant as regard to the rate, period and method of calculation of interest under the facts and circumstances of the case. The appellant expressly urges

M/S B B JEWELLERS AND FINANCE PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(4), BANGALORE

In the result, all the five appeals of the assessee are allowed for statistical purposes

Bench: Shri A. K. Garodia & Smt. Beena Pillai

13. The appellant denies itself liable to be levied to interest under sections 234A(3), 234B(3), 234B and 234C of the Act and further the computation of interest of was not provided to the appellant as regard to the rate, period and method of calculation of interest under the facts and circumstances of the case. The appellant expressly urges

M/S B B JEWELLERS AND FINANCE PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(4), BANGALORE

In the result, all the five appeals of the assessee are allowed for statistical purposes

Bench: Shri A. K. Garodia & Smt. Beena Pillai

13. The appellant denies itself liable to be levied to interest under sections 234A(3), 234B(3), 234B and 234C of the Act and further the computation of interest of was not provided to the appellant as regard to the rate, period and method of calculation of interest under the facts and circumstances of the case. The appellant expressly urges

M/S. CONCORDE HOUSING CORPORATION PRIVATE LIMITED,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BENGALURU

In the result, appeal of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadav

13 of 36 explanation 5A to section 271(1)(c) of the Act will be applicable only when there is money, bullion, jewellery found at the time of search, which is claimed to have been acquired out of income of any previous year, or, there must be income based on any entry in the books of accounts or other documents

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

Accordingly, the appeals filed by the assessee are allowed in above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

13,12,76,982/- being 34,95,64,587/- purchases from registered dealers under the facts and circumstances of the case. g) The authorities below failed to appreciate that the impugned purchases have been declared in the statutory returns filed under the Karnataka Value Added Tax Act, 2003 and thus the addition made by holding that the appellant failed

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

Accordingly, the appeals filed by the assessee are allowed in above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

13,12,76,982/- being 34,95,64,587/- purchases from registered dealers under the facts and circumstances of the case. g) The authorities below failed to appreciate that the impugned purchases have been declared in the statutory returns filed under the Karnataka Value Added Tax Act, 2003 and thus the addition made by holding that the appellant failed

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

Accordingly, the appeals filed by the assessee are allowed in above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

13,12,76,982/- being 34,95,64,587/- purchases from registered dealers under the facts and circumstances of the case. g) The authorities below failed to appreciate that the impugned purchases have been declared in the statutory returns filed under the Karnataka Value Added Tax Act, 2003 and thus the addition made by holding that the appellant failed

AKSHAY KUMAR RUNGTA,BANGALORE vs. INCOME TAX OFFICER, WARD 2(1), INTERNATIONAL TAXATION

In the result, appeal filed by the assessee is allowed as per above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyit(It)A No.66/Bang/2024 Assessment Year :2015-16

purchase of shares of Mahaveer Advanced Rem for Rs.10,60,000/- on the facts and circumstances of the case. b. The authorities below have failed to appreciate that the provisions of section 69A of the Act is not mandatory but discretionary in nature on the facts and circumstances of the case. b. The authorities below have failed to appreciate that

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BENGALURU

Section\n153D. It is not an exercise dealing with a immaterial matter which\ncould be corrected by taking recourse to Section 292B of the Act.\n16. We are not inclined to interdict the order of the Tribunal.\n17. Accordingly, the appeal is closed.\n6.5 The above view taken by the Hon’ble Delhi High Court in the case of PCIT

M/S. MUKKA PROTEINS LIMITED (FORMERLY KNOW AS MUKKA SEA FOOD INDUSTRIES LTD., ),MANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, appeals of the assessee in ITA Nos

13. In O. Abdul Rajaks case (supra), the Kerala High Court took the view that a\nstatement recorded under sub-section (4) of Section 132 of the Act can constitute\nthe basis for passing a block assessment order, notwithstanding the retraction from\nit, by the assessee. The discussion in this behalf reads as under:\n\"8. It cannot be doubted