NAVJYOTI SHARMA,BANGALORE vs. DCIT ASMNT, BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

b) Paid purchase consideration Rs.21,26,423/- for purchase of immovable property to Bhartiya Urban Private Limited. After obtaining the prior approval of the CIT (Intl. Taxation), Bengaluru on 29/03/2023, the order u/s. 148A(d)of the Act along with the notice u/s. 148 of the Act were served to the assessee. In response to notice

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

120% 104% consideration Whether stamp duty value exceeds 105% of consideration Yes No as per agreement of transfer Consideration for computing capital gains 12,000 10,000 d) Why the Safe Harbour Limit of 10% Should be Retrospective? Legal maxim 'Law Prospicit Non Respicit' presumes law to be prospective & not retrospective. However, where the legislation is enacted with a purpose

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

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

SHANTHA ALIAS SHANTHAMMA,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(4), BANGALORE

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

B' BENCH, BANGALORE\nBEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND\nSHRI KESHAV DUBEY, JUDICIAL MEMBER\nITA No. 465/Bang/2025\n Assessment Year: 2020-21\nShantha Alias Shanthamma,\nV Sudhindranath,\nNo.51/7/1, Chitrakoot, Ratna Avenue,\nRichmond Road,\nBangalore - 560 025.\nPAN - ASYPS 3056 Q\nVs.\nThe Dy. Commissioner of\nIncome Tax,\nCircle - 2(4),\nBangalore.\nAPPELLANT\nRESPONDENT\nAssessee by :\nShri Deepak, Advocate\nRevenue

SHRI. K V SATISH BABU [HUF],MYSURU vs. THE INCOME TAX OFFICER, WARD-2[1], MYSURU

In the result, the appeal filed by assessee stands allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2011-12

B and 234-C of the Act, which under the facts and in the circumstances of the appellant's case deserves to be cancelled. 6. For the above and other grounds that may be urged at the time of hearing of the appeal, your appellant humbly prays that the appeal may be allowed and Justice rendered and the appellant

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

b)...\n(baa) \"profits of the business \" means the profits of the business as computed\nunder the head \"Profits and gains of business or profession\" as reduced by...\nThe above shows that a computation under the head 'Profits and Gains from\nBusiness or Profession is quite different from a phrase 'profits and gain\nsimplictor.\n(8) The Explanation to section

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, appeals filed by the assessee are partly allowed

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

4 passed under section 143(3) ii. Order of this Hon’ble Tribunal in ITA No. 487/Bang/2022 2013-14 holding that proceedings under Pages 11 - 17 section 263 could not be initiated on account of absence of incriminating material 2014-15 Original asst. order dated 23.08.2016 passed Pages 95 - 120 under section 143(3) 2015-16 Order of this

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-2(2), BENGALURU

In the result, appeals filed by the assessee are partly allowed

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

4 passed under section 143(3) ii. Order of this Hon’ble Tribunal in ITA No. 487/Bang/2022 2013-14 holding that proceedings under Pages 11 - 17 section 263 could not be initiated on account of absence of incriminating material 2014-15 Original asst. order dated 23.08.2016 passed Pages 95 - 120 under section 143(3) 2015-16 Order of this

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, appeals filed by the assessee are partly allowed

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

4 passed under section 143(3) ii. Order of this Hon’ble Tribunal in ITA No. 487/Bang/2022 2013-14 holding that proceedings under Pages 11 - 17 section 263 could not be initiated on account of absence of incriminating material 2014-15 Original asst. order dated 23.08.2016 passed Pages 95 - 120 under section 143(3) 2015-16 Order of this

M/S. GOKULDAS EXPORTS,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(2), BANGALORE

In the result, the appeal filed by the assessee is partly allowed in above terms

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Gokaldas Exports Vs. Dcit, Circle - 11(2) (Presently Gokaldas Exports Ltd.) Bengaluru No. 25, 2Nd Cross, 3Rd Main Industrial Suburb, Yashwanthpur Bengaluru 560022 Pan – Aaacg8239J (Appellant) (Respondent) Assessee By: Shri S.V. Ravishankar, Advocate Revenue By: Shri Gudimella Vp Pavan Kumar, Jcit Date Of Hearing: 28.03.2023 Date Of Pronouncement: 31.03.2023 O R D E R Per: Laxmi Prasad Sahu, A.M. This Appeal By The Assessee Is Directed Against The Order Of The Cit(A)-1, Bangalore Dated 31.03.2004 For Ay 1995-06. This Is The Third Round Of Proceedings Before The Tribunal In Pursuant Of The Judgement Of The Hon'Ble Jurisdictional High Court In Ita No. 635 Of 2016 Order Dated 19.07.2022 Which Is Placed On Record On Pages 164 To 176 Of The Paper Book.

B” BENCH, BENGALURU Before Shri George George K., Judicial Member and Shri Laxmi Prasad Sahu, Accountant Member M/s. Gokaldas Exports vs. DCIT, Circle - 11(2) (presently Gokaldas Exports Ltd.) Bengaluru No. 25, 2nd Cross, 3rd Main Industrial Suburb, Yashwanthpur Bengaluru 560022 PAN – AAACG8239J (Appellant) (Respondent) Assessee by: Shri S.V. Ravishankar, Advocate Revenue by: Shri Gudimella VP Pavan Kumar, JCIT Date

MR. ISHAAN HEGDE L/R OF LATE SRI. V G SIDDHARTHA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOMER TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result the appeal filed by the revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

gains. The AO also pointed out that as per the original debenture purchase agreement, the holder of debentures was entitled to a coupon payment at 13.75%. However, no such coupon or interest income was realized or considered at the time of redemption. The assessee’s claim that waiver of interest was based on an informal agreement was found

MRS. MALAVIKA HEGDE L/R OF LATE SRI. V G SIDDHARTHA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result the appeal filed by the revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

gains. The AO also pointed out that as per the original debenture purchase agreement, the holder of debentures was entitled to a coupon payment at 13.75%. However, no such coupon or interest income was realized or considered at the time of redemption. The assessee’s claim that waiver of interest was based on an informal agreement was found

MRS. MALAVIKA HEGDE L/R OF LATE SRI. V G SIDDHARTHA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result the appeal filed by the revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

gains. The AO also pointed out that as per the original debenture purchase agreement, the holder of debentures was entitled to a coupon payment at 13.75%. However, no such coupon or interest income was realized or considered at the time of redemption. The assessee’s claim that waiver of interest was based on an informal agreement was found

MR. AMARTHYA SIDDHARTHA L/R OF LATE SRI. V G . SIDDHARTHA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result the appeal filed by the revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

gains. The AO also pointed out that as per the original debenture purchase agreement, the holder of debentures was entitled to a coupon payment at 13.75%. However, no such coupon or interest income was realized or considered at the time of redemption. The assessee’s claim that waiver of interest was based on an informal agreement was found

MR. AMARTHYA SIDDHARTHA L/R OF LATE SRI. V G . SIDDHARTHA ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result the appeal filed by the revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

gains. The AO also pointed out that as per the original debenture purchase agreement, the holder of debentures was entitled to a coupon payment at 13.75%. However, no such coupon or interest income was realized or considered at the time of redemption. The assessee’s claim that waiver of interest was based on an informal agreement was found

MRS. MALAVIKA HEGDE L/R OF LATE SRI. V G SIDDHARTHA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result the appeal filed by the revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

gains. The AO also pointed out that as per the original debenture purchase agreement, the holder of debentures was entitled to a coupon payment at 13.75%. However, no such coupon or interest income was realized or considered at the time of redemption. The assessee’s claim that waiver of interest was based on an informal agreement was found

MRS. MALAVIKA HEGDE L/R OF LATE SRI. V G SIDDHARTHA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result the appeal filed by the revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

gains. The AO also pointed out that as per the original debenture purchase agreement, the holder of debentures was entitled to a coupon payment at 13.75%. However, no such coupon or interest income was realized or considered at the time of redemption. The assessee’s claim that waiver of interest was based on an informal agreement was found

MR. ISHAAN HEGDE L/R OF LATE SRI. V G SIDDHARTHA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOMER TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result the appeal filed by the revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

gains. The AO also pointed out that as per the original debenture purchase agreement, the holder of debentures was entitled to a coupon payment at 13.75%. However, no such coupon or interest income was realized or considered at the time of redemption. The assessee’s claim that waiver of interest was based on an informal agreement was found