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

127 of the Act dated 05/03/2022 of the Principal Commissioner of income Tax, Bengaluru-3, Bengaluru. Accordingly, notices u/s. 143(2) as well as 142(1) of the Act was issued on various dates calling for the details as per the said notices. The assessee submitted the details as called for. 3.1 During the course of search operations u/s.132

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.

gains by the revenue authorities. The Ld.AR submitted as under: 4.1 The Ld.AR submitted that the Ld.AO did not appreciate and consider that the holding period is from the day, the right to acquire shares came into existence in the previous company being the grant followed by vesting, and merely because of exchange of shares consequent to the amalgamation/merger under

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, MANGALURU vs. ALAKANANDA PRINTERS (P) LTD, MANGALURU

In the result, appeal filed by the Revenue is allowed for statistical purposes and CO filed by the assessee in support of the Order of the CIT(A)

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyassessment Year : 2015-16

127. She also referred to the income tax return filed for the assessment Yer 2017-18 dated 11.08.2021 along with computation of income and other capital gain on the transfer of land as noted by the AO and the assessee’s share of 25.93% which is placed Paper Book Pages 128 to 134. The assessee has offered the capital gain

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

capital gains under this anti-avoidance provision. It is a case of a curative amendment to take care of unintended consequences of the scheme of section 50C. xi. Parliament has introduced third proviso in section 50C(1) of the Act, as per which the difference in stamp duty valuation and actual consideration should be ignored, if it is less than

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

SRI. SWAMIAPPAN ARUL KUMAR,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2019-20

capital gain tax. 3. The ld. CIT(A) observed that the crucial factor to determine the land sold is agriculture land is that whether the land was actually or ordinarily used for the agricultural purposes. The assessee during the appellate proceedings has submitted copy of Land Revenue Records and other supporting documents in support of his claim before

SRI. SWAMIAPPAN ANAND KUMAR,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(1), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2019-20

capital gain tax. 3. The ld. CIT(A) observed that the crucial factor to determine the land sold is agriculture land is that whether the land was actually or ordinarily used for the agricultural purposes. The assessee during the appellate proceedings has submitted copy of Land Revenue Records and other supporting documents in support of his claim before

SMT. SWAMIAPPAN PUNITHAVATHI,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2019-20

capital gain tax. 3. The ld. CIT(A) observed that the crucial factor to determine the land sold is agriculture land is that whether the land was actually or ordinarily used for the agricultural purposes. The assessee during the appellate proceedings has submitted copy of Land Revenue Records and other supporting documents in support of his claim before

SRI. SWAMIAPPAN,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(1), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2019-20

capital gain tax. 3. The ld. CIT(A) observed that the crucial factor to determine the land sold is agriculture land is that whether the land was actually or ordinarily used for the agricultural purposes. The assessee during the appellate proceedings has submitted copy of Land Revenue Records and other supporting documents in support of his claim before

SHRI. BANGALORE NARAYAN DAS,BENGALURU vs. INCOME-TAX OFFICER, (INTERNATIONAL TAXATION-1(1), BENGALURU

In the result the appeal filed by the assessee for assessment year 2014-15 & 2017-18 stands allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(It)A Nos. 120 & 121/Bang/2022 (Assessment Years: 2014-15 & 2017-18)

capital gains. IT(IT)A No. 120/Bang/2022 for AY 2014-15 4 IT(IT)A Nos. 120 & 121/Bang/2022 Bangalore Narayan Das 3. It was noted from the assessment order, the assessee had not filed any return of income, however he had sold property of Rs.30 lakhs and had cash deposit of Rs.58,40,000/-. The ld.AO issued notice

SHRI. BANGALORE NARAYAN DAS,BENGALURU vs. INCOME-TAX OFFICER, (INTERNATIONAL TAXATION-1(1), BENGALURU

In the result the appeal filed by the assessee for assessment year 2014-15 & 2017-18 stands allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(It)A Nos. 120 & 121/Bang/2022 (Assessment Years: 2014-15 & 2017-18)

capital gains. IT(IT)A No. 120/Bang/2022 for AY 2014-15 4 IT(IT)A Nos. 120 & 121/Bang/2022 Bangalore Narayan Das 3. It was noted from the assessment order, the assessee had not filed any return of income, however he had sold property of Rs.30 lakhs and had cash deposit of Rs.58,40,000/-. The ld.AO issued notice

M/S. POWER POINT,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2019-20

127 passed by Pr. Commissioner of Income Tax(Central), Bangalore on 11.01.2021. Subsequently, notices u/s 142(1) dated 25.02.2021 and reminder M/s. Power Point, Bangalore Page 4 of 55 letter dated 13.08.2021 were issued by the Deputy Commissioner of Income Tax, Central Circle 2(2), Bangalore, seeking details of claims made in the return of income. In absence

SHRI. KEMPAREDDY GOVINDRAJ,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BENGALURU

In the result the appeals of the assessee in ITA No’s 1022 to \n1024/ Bang/ 2024, for the

capital gain. Therefore, \nthere can be no protective assessment.” \n\nIn view of the above judicial precedents, the entire protective addition \nof Rs.86,95,409/- made in the hands of the assessee, in the absence of a \nsubstantive addition in the hands of his wife, is also bad in law and \nneeds to be deleted. \n\nIn any case

SHAMANNA REDDY ,BANGALORE vs. INCOME TAX OFFICER, WARD-4(1)(3), BANGALORE

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: Shri George George K & Shri Chandra Poojarind Shri Laxmi Prasad Sahuassessment Year : 2018-19 Shri. Shamanna Reddy, Vs. Ito, C/O. Chowdeshwari Rice Building, Ward – 4(1)(3), Opp. Hi Look Bakery, Bengaluru. Kasavanahalli, Sarjapur Road, Bengaluru – 560 035. Pan : Ccwpr 8342 E Appellant Respondent Assessee By : Shri. Siddesh Nagaraj Gaddi, Ca Revenue By : Dr. Nischal, Addl. Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 20.02.2024 Date Of Pronouncement : 20.02.2024

section 282 of the Income-tax Act, 1961 read with rule 127 of the Income-tax Rules. 8. The learned CIT(A) and AO has erred in initiating the re- assessment proceeding u/s. 148 which is based on the incorrect assumption that the appellant had sold non-agriculture land. Addition of Rs. 52,99,000/- 9. The Learned

DB ENGINEERING & CONSULTING GMBH,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), INTERNATIONAL TAXATION, , BENGALURU

In the result, appeal of the assessee is partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri Prakash Chand Yadav & It(It)A No.1377/Bang/2024 Assessment Year : 2020-21 M/S. Db Engineering & Consulting Gmbh, Dcit (International 82/4, 3Rd Floor, North Wing, Hulkul Brigade Taxation), Centre, Lavelle Road, Ward No.76, Vs. Circle – 1(1), Bangalore – 560 001. Bangalore. Pan :Aaecd 9085 B Appellant Respondent Assessee By : Smt. Susan Mathew, Ca Revenue By : Shri. Subramanian S, Jcit(Dr)(Itat), Bengaluru. Date Of Hearing : 25.10.2024 Date Of Pronouncement : 19.11.2024

127-128 of Paper book): IT(IT)A No.1377/Bang/2024 Page 4 of 8 3. From the above it is clear that surcharge is to be computed on the income specified in this part and also on income covered by section 111A being tax on short term capital gains

CHINNASWAMY SUNDER RAJU,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(4), BENGALURU

In the result the appeal of the assessee is partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyassessment Year : 2017-18

127, bearing DIN No. ITBA/COM/F/2020-21/1031116412(1), DATED 01.03.2021. It is to be noted that admittedly the assessee did not object to the centralisation of his files. 5. Subsequently the assessee was issued a notice, dated 25/06/2021, u/s 153A for the A.Y. 2017-18 and thirty days time was granted. The assessee filed a return of income u/s 153A on16.02.2022 admitting

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

In the result, the appeal filed by the assessee as well as by revenue are partly allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(Tp)A No.735/Bang/2018 Assessment Year: 2013-14

gains of any business or profession carried on by the assessee at any time during the previous year is chargeable to tax. As per section 29, the income referred to in section 28 should be computed in accordance with the provisions contained in sections 30 to 43D. Sections 30 to 36 confer specific deductions. Section 37 deals with expenditure which

M/S INFOSYS LTD ,BANGALOR E vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3(1)(1), BANGALORE

In the result, the appeal filed by the assessee as well as by revenue are partly allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(Tp)A No.735/Bang/2018 Assessment Year: 2013-14

gains of any business or profession carried on by the assessee at any time during the previous year is chargeable to tax. As per section 29, the income referred to in section 28 should be computed in accordance with the provisions contained in sections 30 to 43D. Sections 30 to 36 confer specific deductions. Section 37 deals with expenditure which