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423 results for “capital gains”+ Penaltyclear

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Key Topics

Addition to Income77Section 143(3)59Section 14840Disallowance37Section 10A31Penalty31Section 133A26Deduction25Section 153C21Section 271A

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

In the result, appeal filed by the assessee is allowed

ITA 2493/BANG/2024[2018-19]Status: DisposedITAT Bangalore16 May 2025AY 2018-19

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

For Appellant: Shri. Sandeep Chalapathy, CAFor Respondent: Shri. Ganesh R Gale, Standing Counsel for Department
Section 139Section 139(1)Section 54FSection 54F(1)Section 54F(4)

capital gain account which has been opened and in support, certificate dated 11.11.2009 of Branch Manager has been furnished. The said understanding has however been found to be incorrect on subsequent verification by the AO where he found that the account was a normal saving account. Interestingly, during the appellate proceedings (in context of penalty

Showing 1–20 of 423 · Page 1 of 22

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21
Section 14720
Transfer Pricing20

ASST.C.I.T., MANGALORE vs. DR. ALI KUMBLE, MANGALORE

In the result, the appeals filed by the revenue are dismissed

ITA 1377/BANG/2015[2010-11]Status: DisposedITAT Bangalore03 May 2017AY 2010-11

Bench: Shri Inturi Rama Rao & Shri Sudanshu Srivastava

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri R.S. Siddappaji, Addl. CIT(DR)
Section 47

capital gains on account of conversion of a firm into a company under the provisions of Schedule IX of the Companies Act, 1956. Now the law is quite settled that an assessment u/s. 153A can be made only based on the incriminating material found as a result of action u/s. 132 of the Act. In the present cases, the alleged

ASST.C.I.T., MANGALORE vs. DR. YUSUF KUMBLE, MANGALORE

In the result, the appeals filed by the revenue are dismissed

ITA 1378/BANG/2015[2009-10]Status: DisposedITAT Bangalore03 May 2017AY 2009-10

Bench: Shri Inturi Rama Rao & Shri Sudanshu Srivastava

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri R.S. Siddappaji, Addl. CIT(DR)
Section 47

capital gains on account of conversion of a firm into a company under the provisions of Schedule IX of the Companies Act, 1956. Now the law is quite settled that an assessment u/s. 153A can be made only based on the incriminating material found as a result of action u/s. 132 of the Act. In the present cases, the alleged

ASST.C.I.T., MANGALORE vs. DR. ALI KUMBLE, MANGALORE

In the result, the appeals filed by the revenue are dismissed

ITA 1376/BANG/2015[2009-10]Status: DisposedITAT Bangalore03 May 2017AY 2009-10

Bench: Shri Inturi Rama Rao & Shri Sudanshu Srivastava

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri R.S. Siddappaji, Addl. CIT(DR)
Section 47

capital gains on account of conversion of a firm into a company under the provisions of Schedule IX of the Companies Act, 1956. Now the law is quite settled that an assessment u/s. 153A can be made only based on the incriminating material found as a result of action u/s. 132 of the Act. In the present cases, the alleged

ASST.C.I.T., MANGALORE vs. DR. YUSUF KUMBLE, MANGALORE

In the result, the appeals filed by the revenue are dismissed

ITA 1379/BANG/2015[2010-11]Status: DisposedITAT Bangalore03 May 2017AY 2010-11

Bench: Shri Inturi Rama Rao & Shri Sudanshu Srivastava

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri R.S. Siddappaji, Addl. CIT(DR)
Section 47

capital gains on account of conversion of a firm into a company under the provisions of Schedule IX of the Companies Act, 1956. Now the law is quite settled that an assessment u/s. 153A can be made only based on the incriminating material found as a result of action u/s. 132 of the Act. In the present cases, the alleged

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

ITA 755/BANG/2019[2009-10]Status: DisposedITAT Bangalore18 Apr 2022AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L, CAFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 153CSection 2(14)(iii)

gains in view of section 2(14) read with sections 45 and 48 of the Act?" 7.3.5. After taking into account the submissions of the either of the party and also the perusal of the orders of the authorities below, the Hon'ble Court had held as under: "5. We find from the record that the Appellate Commissioner as well

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

ITA 753/BANG/2019[2007-08]Status: DisposedITAT Bangalore18 Apr 2022AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L, CAFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 153CSection 2(14)(iii)

gains in view of section 2(14) read with sections 45 and 48 of the Act?" 7.3.5. After taking into account the submissions of the either of the party and also the perusal of the orders of the authorities below, the Hon'ble Court had held as under: "5. We find from the record that the Appellate Commissioner as well

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

ITA 752/BANG/2019[2006-07]Status: DisposedITAT Bangalore18 Apr 2022AY 2006-07

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L, CAFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 153CSection 2(14)(iii)

gains in view of section 2(14) read with sections 45 and 48 of the Act?" 7.3.5. After taking into account the submissions of the either of the party and also the perusal of the orders of the authorities below, the Hon'ble Court had held as under: "5. We find from the record that the Appellate Commissioner as well

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

ITA 754/BANG/2019[2008-09]Status: DisposedITAT Bangalore18 Apr 2022AY 2008-09

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L, CAFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 153CSection 2(14)(iii)

gains in view of section 2(14) read with sections 45 and 48 of the Act?" 7.3.5. After taking into account the submissions of the either of the party and also the perusal of the orders of the authorities below, the Hon'ble Court had held as under: "5. We find from the record that the Appellate Commissioner as well

SRI KAMANAHALLI PILLA REDDY NAGESH,BANGALORE vs. INCOME TAX OFFICER, WARD- 4(3)(5), BANGALORE

Accordingly, this ground of the assessee is allowed

ITA 1396/BANG/2019[2014-15]Status: DisposedITAT Bangalore21 Jun 2022AY 2014-15

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

For Appellant: Shri Guruswamy, ITP
Section 10(1)Section 143Section 2(14)Section 234Section 292BSection 54B

gains in view of section 2(14) read with sections 45 and 48 of the Act?" 7.3.5. After taking into account the submissions of the either of the party and also the perusal of the orders of the authorities below, the Hon'ble Court had held as under: "5. We find from the record that the Appellate Commissioner as well

DCIT vs. M/S MINITECHS AEROTOOLS PVT. LTD.,,

In the result, the appeal by the Revenue is dismissed

ITA 1228/BANG/2013[2007-08]Status: DisposedITAT Bangalore26 May 2015AY 2007-08

Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2007-08

For Appellant: Shri P. Dhivahar, Jt. CIT (DR)For Respondent: Shri S. Venkatesan, CA
Section 133ASection 143(1)Section 147Section 148Section 271(1)(c)

gain brought to tax in the reassessment proceedings and addition to business income by disallowance of labour charges, the AO initiated penalty proceedings u/s. 271(1)(c) of the Act against the assessee. In the penalty proceedings, the AO held that but for the survey in the case of VBDPL, the capital

SMT.VANI SHREE ,BANGALORE vs. INCOME TAX OFFICER WARD-6(2)(4), BANGALORE

In the result, the appeal filed by the assessee stands dismissed

ITA 383/BANG/2019[2015-16]Status: DisposedITAT Bangalore28 Jul 2022AY 2015-16

Bench: Smt. Beena Pillai & Shri. Laxmi Prasad Sahuassessment Year : 2015-16 Smt. Vani Shree, No. 49, 3Rd Cross, The Income-Tax Marappa Thota, Officer, J.C. Nagar, Ward 6 (2)(4), Bangalore – 560 006. Bangalore. Vs. Pan: Gayps9756K Appellant Respondent : Shri S.V. Ravi Shankar, Assessee By Advocate : Shri Ramesh B.R., Addl. Cit Revenue By (Dr) Date Of Hearing : 09-06-2022 Date Of Pronouncement : 28-07-2022 Order Per Beena Pillaipresent Appeal Is Filed By The Assessee Against Order Dated 05.12.2018 Passed By The Ld.Cit(A)-6, Bangalore For A.Y. 2015-16 On Following Grounds Of Appeal: “1. The Order Of The Learned Commissioner Of Income-Tax (Appeals), Bengaluru, Passed Under Section 250 Of The Act In So Far As It Is Against The Appellant Is Opposed To Law, Weight Of Evidence, Natural Justice, Probabilities, Facts & Circumstances Of The Appellant'S Case. 2. The Appellant Denies Herself To Be Liable To Be Assessed To Total Income Of Rs.2,16,39,499/- On The Facts & Circumstances Of The Case.

For Respondent: Shri S.V. Ravi shankar
Section 143(2)Section 234ASection 250Section 54F

capital gains to tax for the year under consideration based on the sanction plan dated 18.07.2014 obtained by the developer whereas subsequently, by way of additional evidence assessee tried to Page 9 of 23 adduce a building plan approved on 01.03.2012 wherein the entire right title and interest in the land stood transferred to the developer by virtue of clause

SHRI D.DASAPPA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

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

ITA 2223/BANG/2016[2009-10]Status: DisposedITAT Bangalore09 Feb 2022AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri L. Bharath, CAFor Respondent: Capt. Pradeep Shoury Arya, Addl.CIT(DR)(ITAT)
Section 132Section 153CSection 2(14)Section 80

gains in view of section 2(14) read with sections 45 and 48 of the Act?" 7.3.5. After taking into account the submissions of the either of the party and also the perusal of the orders of the authorities below, the Hon'ble Court had held as under: "5. We find from the record that the Appellate Commissioner as well

SHRI D.DASAPPA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

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

ITA 2222/BANG/2016[2008-09]Status: DisposedITAT Bangalore09 Feb 2022AY 2008-09

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri L. Bharath, CAFor Respondent: Capt. Pradeep Shoury Arya, Addl.CIT(DR)(ITAT)
Section 132Section 153CSection 2(14)Section 80

gains in view of section 2(14) read with sections 45 and 48 of the Act?" 7.3.5. After taking into account the submissions of the either of the party and also the perusal of the orders of the authorities below, the Hon'ble Court had held as under: "5. We find from the record that the Appellate Commissioner as well

SMT ROOPA JAGADISH ,MYSURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX , MYSURU

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

ITA 1153/BANG/2017[2012-13]Status: DisposedITAT Bangalore18 Apr 2018AY 2012-13

Bench: Shri N.V Vasudevan & Shri Jason P Boazsmt. Roopa Jagadish No. 85/C, Pavitra, 6Th Main, Jayalakshmi Puram, Mysuru. . Appellant Vs. The Pr. Commissioner Of Income-Tax Officer, Mysuru. . Respondent

For Appellant: Shri P. Dinesh, AdvocateFor Respondent: Shri B.K. Panda, CIT-DR
Section 143(3)Section 263

penalty under the DTDRS and obtained a certificate from the Pr.Comissioner-7, Bengaluru. Thus the sale consideration and the long term capital gains

DCIT, BANGALORE vs. M/S EPSILON ADVISORS PVT. LTD.,, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

ITA 1569/BANG/2014[2006-07]Status: DisposedITAT Bangalore29 Nov 2018AY 2006-07

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

For Appellant: Shri S. Parthasarathi, AdvocateFor Respondent: Shri K.V. Arvind, Standing Counsel
Section 143(3)Section 147Section 271

Gain and disallowed to the Assessee the short term capital loss of Rs. 117,76,40,000 in respect of sale of equity shares of Jupiter Capital Private Limited by the Assessee to M/s Vectra Holdings Private Limited.” 20. In the result, the quantum appeal of the assessee is partly allowed in the terms indicated above and the quantum appeal

EPSILON ADVISORS P. LTD.,,BANGALORE vs. CIT, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

ITA 1607/BANG/2014[2006-07]Status: DisposedITAT Bangalore29 Nov 2018AY 2006-07

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

For Appellant: Shri S. Parthasarathi, AdvocateFor Respondent: Shri K.V. Arvind, Standing Counsel
Section 143(3)Section 147Section 271

Gain and disallowed to the Assessee the short term capital loss of Rs. 117,76,40,000 in respect of sale of equity shares of Jupiter Capital Private Limited by the Assessee to M/s Vectra Holdings Private Limited.” 20. In the result, the quantum appeal of the assessee is partly allowed in the terms indicated above and the quantum appeal

DCIT, BANGALORE vs. M/S EPSILON ADVISORS PVT. LTD.,, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

ITA 1600/BANG/2014[2006-07]Status: DisposedITAT Bangalore29 Nov 2018AY 2006-07

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

For Appellant: Shri S. Parthasarathi, AdvocateFor Respondent: Shri K.V. Arvind, Standing Counsel
Section 143(3)Section 147Section 271

Gain and disallowed to the Assessee the short term capital loss of Rs. 117,76,40,000 in respect of sale of equity shares of Jupiter Capital Private Limited by the Assessee to M/s Vectra Holdings Private Limited.” 20. In the result, the quantum appeal of the assessee is partly allowed in the terms indicated above and the quantum appeal

EPSILON ADVISORS P. LTD.,,BANGALORE vs. CIT, BANGALORE

In the result, penalty appeal of the assessee is allowed and penalty appeal of the revenue is dismissed

ITA 1608/BANG/2014[2006-07]Status: DisposedITAT Bangalore29 Nov 2018AY 2006-07

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

For Appellant: Shri S. Parthasarathi, AdvocateFor Respondent: Shri K.V. Arvind, Standing Counsel
Section 143(3)Section 147Section 271

Gain and disallowed to the Assessee the short term capital loss of Rs. 117,76,40,000 in respect of sale of equity shares of Jupiter Capital Private Limited by the Assessee to M/s Vectra Holdings Private Limited.” 20. In the result, the quantum appeal of the assessee is partly allowed in the terms indicated above and the quantum appeal

MR K. P. MANJUNATHA REDDY,BANGALORE vs. THE INCOME TAX OFFICER, WARD 4(3)(2), BANGALORE

In the result, the appeal filed by the assessee is allowed

ITA 977/BANG/2019[2014-15]Status: DisposedITAT Bangalore25 Mar 2022AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2014-15

For Appellant: Shri Thirumala Naidu, A.RFor Respondent: Smt. Priyadarshini Mishra, D.R
Section 10(1)Section 143(3)Section 2(14)Section 271(1)(c)

penalty proceedings u/s 271(1)(c) of the Act. 10. The appellant submits that each of the above grounds is independent and without prejudice to one another. 2. Facts of the case are that the A.O. made addition of Rs.2.06 crores as long term capital gain