GOBINDRAM CHANDRAMANI VIVEK,BANGALORE vs. INCOME TAX OFFICER - WARD 1(1), BANGALORE, BANGALORE

In the result, the appeal of the assessee is allowed for statistical purposes, in the manner indicated in this order

Bench: Mrs. Beena Pillai & Shri Ramit Kochar

capital gains chargeable to income-tax. The income is chargeable to tax u/s 4, which is a charging section. Scope of Income is defined u/s 5. The heads of income is enumerated u/s 14. There are five heads of income, namely income from Salaries, Income from House Property , Profits and Gains of A.Y. 2011-12 Shri. Gobindram Chandramani Vivek Business

M/S. TATA ELXSI LIMITED., ,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Shri George George K. & Shri Chandra Poojari

income from house property, profits and gains of business or profession, capital gains and income from other sources. Insofar as income

DIVYA DINESH ,BENGALURU vs. DCIT, CIRCLE-7(1)(1), BANGALORE

In the result appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

business income, capital gain and other sources. In the return of income, the assessee declared Gross Total Income-GTI of Rs. 37,47,06,373/- out of which

DCIT, CC-2(1), BENGALURU, BENGALURU vs. CHAITANYA PROPERTIES PVT LTD, BENGALURU

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2011-12

business income and capital gains (whether Short-Term Capital Gains (STCG) or Long-Term Capital Gains (LTCG)) arising from the Joint

SREENIVASULU SAGALETI,BENGALURU vs. INCOME TAX OFFICER, WARD-2(2)(2), BENGALURU

In the result, appeal filed by the assessee is allowed

Bench: Shri. Laxmi Prasad Sahuandshri.Keshav Dubeyassessment Year :2018-19

business in the name of Sri Sai Associates and the amount received towards sale proceeds of capital asset was kept in the bank account and deposited on 13.06.2017 which is evident from the Paper Book Page No.73. This amount was kept in the bank account. However, due to lack of knowledge, assessee could not deposit in terms of section

DIVYA DINESH ,BENGALURU vs. DCIT, CIRCLE-7(1)(1), BANGALORE

In the result appeal of the assessee is allowed

Business Income\nRs. 4,50,000/-\nC. Short term capital gain taxable at normal rate\nRs. 58,95,682/-\n(Rs. 63,96,143 minus

M/S. TATA ELXSI LIMITED,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, CIRCLE-7(1)(1), BANGALORE

income from house property,\nprofits and gains of business or profession, capital gains and income from other\nsources. Insofar as income

SHRI K.G SUBBARAMA SETTY ,BANGALORE vs. ACIT 5(2)(1) BANGALORE, C R BUILDING

In the result all the three appeals in ITA Nos

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

business income (renumeration and share of profit from partnership firms). For the AY 2021-22, the assessee filed his return of income on 15/03/2022 by declaring total income of Rs.5,07,94,880/-. The return of income was processed u/s. 143(1) of the Act on 28/03/2022. Subsequently, the rectification order u/s. 154 of the Act was passed

K A SUJIT CHANDAN,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE BENGALURU.-5(2)(1), BENGALURU

In the result all the three appeals in ITA Nos

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

business income (renumeration and share of profit from partnership firms). For the AY 2021-22, the assessee filed his return of income on 15/03/2022 by declaring total income of Rs.5,07,94,880/-. The return of income was processed u/s. 143(1) of the Act on 28/03/2022. Subsequently, the rectification order u/s. 154 of the Act was passed

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1), BENGALURU, BENGALURU vs. INFOSYS LIMITED, BENGALURU

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2019-20

capital fund. Thus, it is evident that interest on NCDs, interest on loan to Subsidiaries, interest on debentures, interest on Govt securities, interest on tax refunds, insurance claim, incentive from airlines and rental income from BSNL are offered to tax under the head Profits and gains of business

DCIT, CENTRAL CIRCLE-1(3), BENGALURU, BENGALURU vs. MANGALDEEP CHAINS, BENGALURU

Gains from\nBusiness & profession instead of treating it as\n\"Unexplained income u/s 69A of the Act\" and to tax at\nspecial rates given in section 115BBE of the Income -tax\nAct, 1961'.\n3. FACTS IN BRIEF - ITA No 2561/ BNG/ 2024\n3.1 The Appellant Department had carried out survey\nproceedings u/s 133A of the Income

DCIT, CENTRAL CIRCLE-1(3), BENGALURU, BENGALURU vs. MANGALDEEP CHAINS, BENGALURU

Gains from\nBusiness & profession instead of treating it as\n\"Unexplained income u/s 69A of the Act\" and to tax at\nspecial rates given in section 115BBE of the Income -tax\nAct, 1961'.\n3. FACTS IN BRIEF - ITA No 2561/ BNG/ 2024\n3.1 The Appellant Department had carried out survey\nproceedings u/s 133A of the Income

M/S. S I MEDIA LLP, ,BENGALURU vs. DCIT, CIRCLE-1(1)(1), BENGALURU

In the result appeal of the assessee allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Soundararajan Kassessment Year: 2021-22

capital gains chargeable to income-tax. The income is chargeable to tax u/s 4, which is a charging section. Scope of Income is defined u/s 5. The heads of income is enumerated u/s 14. There are five heads of income, namely income from Salaries, Income from House Property , Profits and Gains of Business

INFOSYS LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3(1)(1), BANGALORE

In the result, appeal filed by the assessee is partly allowed and the\nappeal filed by the revenue is dismissed

Bench: Shri Waseem Ahmed\Nand\Nshri Keshav Dubey\N\N\Nita No. 881/Bang/2023\N Assessment Year: 2019-20\N\Ninfosys Limited\Nplot 44, Konappana Agrahara\Nhosur Road, Konappana\Nbangalore - 560100\Nkarnataka\N\Npan: Aaaci4798L\N\Nappellant\N\Nvs.\N\Ndy. Commissioner Of Income Tax\Ncircle - 3(1)(1)\Nbmtc Building, 80 Feet Road\Nkoramangala, Bangalore – 560095\Nkarnataka\N\Nrespondent\N\Nita No. 245/Bang/2024\N Assessment Year: 2019-20\N\Njt. Commissioner Of Income Tax (Osd)\Ncircle - 3(1)(1)\Nroom No. 241, 2Nd Floor\Nbmtc Building, 80 Feet Road\N6Th Block, Koramangala\Nbangalore - 560095\Nkarnataka\N\Nvs.\N\Ninfosys Limited\Nplot 44, Konappana Agrahara\Nhosur Road, Konappana\Nbangalore - 560100\Nkarnataka\N\Npan: Aaaci4798L\N\Nappellant\N\Nrespondent\N\Nassessee By\Ndepartment By\N\Nsri Padam Chand Khincha – Ca\Nsmt. Srinandini Das – Cit - Dr\N\Ndate Of Hearing\Ndate Of Pronouncement:\N\N09.05.2025\N06.08.2025\N\Norder\N\Nper Keshav Dubey:\N\Nthese Cross Appeals Are Filed Against The Order Of Ld. Commissioner Of\Nincome Tax (Appeals), National Faceless Appeal Centre, Delhi [In Short \"Ld.\Ncit(A)/Nfac] Vide Din & Order No. Itba/Nfac/S/250/2023-24/1056786183(1) Dated 05.10.2023 Passed U/S.250 Of The Income Tax\Nact, 1961 (In Short “The Act\") For The A.Y.2019-20.\N\Npage 2 Of 34\N\N2. The Assessee Has Raised The Following Grounds Of Appeal: - \N\N\"1.\N\Ngeneral Ground\N\N1.

capital fund. Thus, it is evident\nthat interest on NCDs, interest on loan to Subsidiaries, interest on\ndebentures, interest on Govt securities, interest on tax refunds, insurance\nclaim, incentive from airlines and rental income from BSNL are offered to tax\nunder the head Profits and gains of business

SHRI VANKADARI CHINNA REDDEPPA CHETTY ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(2)(1) , BANGALORE

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2013-14

income and capital gain for AY 2013-14 and as capital gain for AY 2011-12. AY 2011-12 is presently in appeal before the CIT(A) appeal for the limited purpose of manner of computation of the capital gain and not the characterization or taxability as capital gain. If in the impugned appeal, the business

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 4(1)(1), BANGALORE, BANGALORE vs. RAMESH NARAYANA REDDY (HUF), BANGALORE

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadavdcit, Circle - 4(1)(1) Ramesh Narayana Reddy (Huf) Room No. 230, 2Nd Floor #62, Sonnenahalli Bmtc Building, Koramangala Vs. Mahadevapura Bangalore 560095 Bangalore 560048 Pan – Aamhr4231A (Appellant) (Respondent) Assessee By: Shri V. Srinivasan, Advocate Revenue By: Shri Subramanian S., Jcit-Dr Date Of Hearing: 24.07.2024 Date Of Pronouncement: 30.07.2024 O R D E R Per: Prakash Chand Yadav, J.M. The Present Appeal Of The Revenue Challenges The Din & Order No. Itba/Nfac/S/2003-24/1061428431(1) Of The National Faceless Appeal Centre, Delhi [Cit(A)] Dated 23.02.2024 Passed Under Section 250 Of The Income Tax Act, 1961 (The Act) In Respect Of Assessment Year (Ay) 2020-21. 2. Aggrieved With The Order Of The Ld. Cit(A) The Revenue Has Come Up In Appeal Before Us & Raised The Following Grounds: - “The Ld. Addl. Cit(A) Has Erred In Deleting The Addition Of Rs. 1,18,01,752 As Deemed Rental Income On The Ground That There Was No Addition Made In The Case Of Other Two Co-Owners Of The Same Property For The Same Assessment Year. The Nfac Has Not Considered That The Assessments Of Three Different Co-Owners Were Completed In Faceless Manner. There Is No Algorithm For Allocation Of Cases Of Three Different Assessees Having Common Interest In A Single Property To A Single Assessing Officer For Assessment. Hence, Omission Of Addition In Cases Of Other Two Co-Owners Of The Property Wherein Assesses Is An Owner May Be Because

capital gain. The learned D.R. failed to point out any change in the facts and circumstances even this impugned year. Therefore, applying the principle of consistency as formulated by the Hon'ble Supreme Court in the case of Radhasoami Satsang v. CIT (1992] 193 ITR 321 we are of the view that the ld. CIT(A) is correct in allowing

UDAYA SOUHARDA CO-OPERATIVE SOCIETY LIMITED ,BANGALORE vs. INCOME TAX OFFICER WARD-5(1)(1), BANGALORE

In the result, the appeal of assessee is hereby allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2020-21

business by providing credit facilities to its members. The interest income so derived or the capital, if not immediately required to be lent to the members, they cannot keep the said amount idle. If they deposit this amount in bank so as to earn interest, the said interest income is attributable to the profits and gains

M/S. ATRIA WIND (KADAMBUR) PRIVATE LIMITED,BENGALUAU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(4), BENGALURU

In the result, appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year: 2017-18

business carried on by him, such conversion or treatment. ………………………………………………………………………….” “Section 45 Capital gains. (1)Any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G and 54H, be chargeable to income