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

10. Aggrieved, the assessee has now filed appeal before the Tribunal . It was submitted by ld. Counsel for the assessee that there is no double deduction as both the deductions operate on different field as interest on housing loan is allowed as deduction under section 24(b) , while interest paid on the housing loan is added to cost of acquisition

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

gains in accordance with section 70 of the Act. Consequently, the computation of gross total income as returned by the assessee was in accordance with law. Once the gross total income is restored to the figure declared in the return, the deduction under section 80G of the Act must also be computed with reference to such income. The restriction applied

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(4), BENGALURU vs. ALAGAPPA ANNAMALAI (HUF), BENGALURU

The appeals of the assessees are allowed\nand revenue appeals are dismissed

capital gain shall be chargeable to\nincome tax as income of the previous year in which the certificate of\ncompletion for the whole or part of the project is issued by the\ncompetent authority. Being so, the provisions of section 45(5A) of\nthe Act cannot be applied to a present assessee as the said law is\napplicable from

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

10,493 52,465 15,740 36,726 D-4 59,322 9,887 49,435 14,831 34,605 TOTAL 71,331 Thus, the AO completed the assessment proceedings on a total assessed income of Rs.5,26,62,915/- against the return income ofRs.5,07,94,880/- under section 143(3) of the Act vide order dated 30/12/2022

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

10,493 52,465 15,740 36,726 D-4 59,322 9,887 49,435 14,831 34,605 TOTAL 71,331 Thus, the AO completed the assessment proceedings on a total assessed income of Rs.5,26,62,915/- against the return income ofRs.5,07,94,880/- under section 143(3) of the Act vide order dated 30/12/2022

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

In the result appeal of the assessee is allowed

10 per cent and \"similar\ncomputation made\" refers to either of the two. In our considered opinion, there\nis a basic fallacy in the view adopted by the learned CIT(A) on this issue.\nSections 111A and 115AD fall in Chapter XII, which provides for determination\nof tax in certain special cases. Thus, it is clear that all these sections

POONAM GUPTA ,BENGALURU vs. DCIT, CIRCLE-5(1)(1), BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Soundararajan K.Assessment Year: 2017-18

34,800. It is an undisputed fact that assessee has already offered the above sum as income, did not claim any long term capital gain benefit on trading of this shares which is exempt u/s 10(38 ) of the Act. 13. The assessee's case was reopened under section

M/S. OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

34. The ld. AR submitted that the CIT(A) has gone beyond his jurisdiction to assessee the capital gains from AY 2003-04 to 2005-06. Therefore, the ld. AR submitted that the directions of the CIT(Appeals) to recompute the capital gain is liable to be quashed. 35. We heard the rival submissions and perused the material on record

M/S OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

34. The ld. AR submitted that the CIT(A) has gone beyond his jurisdiction to assessee the capital gains from AY 2003-04 to 2005-06. Therefore, the ld. AR submitted that the directions of the CIT(Appeals) to recompute the capital gain is liable to be quashed. 35. We heard the rival submissions and perused the material on record

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE vs. M/S OLIVIYA APPARELS PRIVATE LIMITED, BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

34. The ld. AR submitted that the CIT(A) has gone beyond his jurisdiction to assessee the capital gains from AY 2003-04 to 2005-06. Therefore, the ld. AR submitted that the directions of the CIT(Appeals) to recompute the capital gain is liable to be quashed. 35. We heard the rival submissions and perused the material on record

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE vs. M/S OLIVIYA APPARELS PRIVATE LIMITED, BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

34. The ld. AR submitted that the CIT(A) has gone beyond his jurisdiction to assessee the capital gains from AY 2003-04 to 2005-06. Therefore, the ld. AR submitted that the directions of the CIT(Appeals) to recompute the capital gain is liable to be quashed. 35. We heard the rival submissions and perused the material on record

M/S OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

34. The ld. AR submitted that the CIT(A) has gone beyond his jurisdiction to assessee the capital gains from AY 2003-04 to 2005-06. Therefore, the ld. AR submitted that the directions of the CIT(Appeals) to recompute the capital gain is liable to be quashed. 35. We heard the rival submissions and perused the material on record

PIONEER INDEPENDENT TRUST ,BANGALORE vs. PR. COMMISSIONER OF INCOME TAX, BENGALURU-2, BENGALURU

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

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K.Assessment Year : 2020-21

section 55(2)(ac) of the Act had observed that the AO had failed to call for any details on the issue and accepted the computation of long term capital gains without making necessary enquiries or verifying the issue as required by law, had set aside the assessment order and directed the AO to revise the assessment order dated 26/09/2022

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

10. Interest on security deposits 11. Interest on loan to subsidiaries 12. Interest on debenture 13. Interest on government securities 14. Interest on tax refunds 15. Interest on non-convertible debentures (NCDs) 16. Net realization on exchange gain on forward contracts During the assessment proceedings, the deduction claimed under section 10AA in respect of these incomes were justified

SHRI. SRIRAM RUPANAGUNTA,BANGALORE vs. ASISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-5(3)(2), BANGALORE

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

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2015-16 Shri Sriram Rupanagunta, The Assistant 34 Purva Park Ridge, Commissioner Of Goshala Road, Income Tax, Garudachar Palya, Circle – 5(3)(2), Bangalore – 560 048. Vs. Banglore. Pan: Ahlpr7578N Appellant Respondent Assessee By : Shri Kodhanda Pani, Ca : Shri Kiran .D, Addl. Cit Revenue By (Dr) Date Of Hearing : 13-04-2023 Date Of Pronouncement : 18-05-2023 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 24.11.2022 Passed By Nfac For Assessment Year 2015-16 On Following Grounds Of Appeal: “1. The Ld.Assessing Officer Erred In Passing The Assessment Order In The Manner In Which It Is Done On The Basis Of Presumptions, Assumptions & Surmises & Inferences, Conjecture & Hypothetical, Than On The Basis Of The Facts.

34 purva park ridge, Commissioner of Goshala Road, Income Tax, Garudachar palya, Circle – 5(3)(2), Bangalore – 560 048. Vs. Banglore. PAN: AHLPR7578N APPELLANT RESPONDENT Assessee by : Shri Kodhanda Pani, CA : Shri Kiran .D, Addl. CIT Revenue by (DR) Date of Hearing : 13-04-2023 Date of Pronouncement : 18-05-2023 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal

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.

10 of 34\n\nthat the amount of deduction under section 10AA shall be allowed from the\ntotal income of the assessee computed in accordance with the provisions of\nthe Act. It also states that deduction under section 10AA shall not exceed\nsuch total income. The above Explanation does not overrule the ratio of the\ndecision of the Supreme court

NABHIRAJ RATNA BALRAJ BY LEGAL HEIR B.R.RAKESH,BANGALORE vs. INCOME-TAX OFFICER, WARD-7(2)(1), BANGALORE

In the result the appeal of the assessee is allowed

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2016-17

34. Explanatory Memorandum to the Finance Bill, 2016 The Explanatory Memorandum to the Finance Bill, 2016 states as under – Page 15 of 33 “Rationalization of Section 50C in case sale consideration is fixed under agreement executed prior to the date of registration of immovable property. Under the existing provisions contained in Section 50C, in case of transfer of a capital

TATA ELXSI LIMITED ,BANGALORE vs. DEPUTY COMMISIONER INCOMER TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Shri Narender Kumar Choudhry & Shri Laxmi Prasad Sahuassessment Year : 2018-19 M/S. Tata Elxsi Ltd., The Deputy 126, Itpb Road, Commissioner Hoody, Of Income Tax, Whitefield, Circle – 7(1)(1), Bangalore – 560 048. Bangalore. Vs. Pan: Aaact7872Q Appellant Respondent

capital gains and income from other sources. Insofar as income under the head 'profits and gains of business or professions' is concerned, provisions thereto are contained in Sections 28 to 44DB of the Act. Section 28 specifies various incomes which shall be chargeable to income tax under this head. Thereafter, Section 29 provides that income referred to in Section

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

capital gains and income from other sources. Insofar as income under the head 'profits and gains of business or professions' is concerned, provisions thereto are contained in Sections 28 to 44DB of the Act. Section 28 specifies various incomes which shall be chargeable to income tax under this head. Thereafter, Section 29 provides that income referred to in Section