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. 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

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.

section 2(47) of the act in support of his contention. 4.6 The Ld.AR heavily relied on the decision of Hon’ble Supreme Court in case of Miss Dhun Dadabhoy Kapadia vs. CIT reported in (1967) 63 ITR 651 (SC) wherein the Hon’ble Court held that, in the case of acquiring a share, the date of acquisition

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

SREESHARADA CREDIT CO-OPERATIVE SOCIETY LTD,UDUPI vs. ITO WARD- 1&TPS , UDUPI

In the result both the appeals filed by the assessee are allowed

Bench: Shri Prashant Maharishi

127. The expression "sufficient cause" must be construed in a manner that advances substantial justice while preserving the discipline of limitation. The courts are not to be swayed by sympathy or technical rigidity, but rather by a judicious appraisal of whether the applicant acted with reasonable diligence in pursuing the remedy. Where explanation is bona fide, plausible, and consistent with

SREESHARADA CREDIT CO-OPERATIVE SOCIETY LTD,UDUPI vs. ITO WARD- 1&TPS , UDUPI

In the result both the appeals filed by the assessee are allowed

Bench: Shri Prashant Maharishi

127. The expression "sufficient cause" must be construed in a manner that advances substantial justice while preserving the discipline of limitation. The courts are not to be swayed by sympathy or technical rigidity, but rather by a judicious appraisal of whether the applicant acted with reasonable diligence in pursuing the remedy. Where explanation is bona fide, plausible, and consistent with

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

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

ADDL/JOINT COMMISSIONER OF INCOME TAX (LTU) , BANGALORE vs. M/S VIJAYA BANK , BANGALORE

Accordingly the grounds raised by the revenue is allowed for statistical purposes

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Bank Of Baroda Vs. Addl. Cit, Ltu, (Erstwhile Vijaya Bank) Bmtc Building 7Th Floor, Central Accounts 6Th Block, Koramangala Bengaluru 560095 Dept., 41/2, M.G. Road Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Acit, Circle - 2(1)(1) Vs. M/S. Bank Of Baroda Room No. 561, 5Th Floor (Erstwhile Vijaya Bank) Aayakar Bhavan 7Th Floor, Central Accounts M.K. Road Dept., 41/2, M.G. Road Mumbai 400020 Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Assessee By: Shri Ananthan, Ca& Smt. Lalitha Rameswaran, Ca Revenue By: Shri G. Manoj Kumar, Cit-Dr Date Of Hearing: 29.03.2023 Date Of Pronouncement: 25.04.2023 M/S. Bank Of Baroda

gainfully refer to the “MEMORANDUM EXPLAINING FINANCE BILL 2013”, which brings out the intention of the Parliament in inserting Explanation-2 in sec. 36(1)(vii) of the Act. It is extracted below:- “Clarification for amount to be eligible for deduction as bad debts in case of banks:- Under the existing provisions of section 36(1)(viia) of the Income

M/S VIJAYA BANK ,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX LTU , BANGALORE

Accordingly the grounds raised by the revenue is allowed for statistical purposes

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Bank Of Baroda Vs. Addl. Cit, Ltu, (Erstwhile Vijaya Bank) Bmtc Building 7Th Floor, Central Accounts 6Th Block, Koramangala Bengaluru 560095 Dept., 41/2, M.G. Road Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Acit, Circle - 2(1)(1) Vs. M/S. Bank Of Baroda Room No. 561, 5Th Floor (Erstwhile Vijaya Bank) Aayakar Bhavan 7Th Floor, Central Accounts M.K. Road Dept., 41/2, M.G. Road Mumbai 400020 Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Assessee By: Shri Ananthan, Ca& Smt. Lalitha Rameswaran, Ca Revenue By: Shri G. Manoj Kumar, Cit-Dr Date Of Hearing: 29.03.2023 Date Of Pronouncement: 25.04.2023 M/S. Bank Of Baroda

gainfully refer to the “MEMORANDUM EXPLAINING FINANCE BILL 2013”, which brings out the intention of the Parliament in inserting Explanation-2 in sec. 36(1)(vii) of the Act. It is extracted below:- “Clarification for amount to be eligible for deduction as bad debts in case of banks:- Under the existing provisions of section 36(1)(viia) of the Income

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

section 80JJAA being disallowed. 17.1. The Ld.AR submitted that copy of the Audit report under section 80JJAA, being Form No. 10DA was submitted to the Ld.AO vide submission dated 28.5.2014. The Ld.AO thereafter called upon assessee to justify the allowability of deduction under section 80JJAA. The assessee explained in detail as to why deduction under section 80JJAA should be allowed

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

section 80JJAA being disallowed. 17.1. The Ld.AR submitted that copy of the Audit report under section 80JJAA, being Form No. 10DA was submitted to the Ld.AO vide submission dated 28.5.2014. The Ld.AO thereafter called upon assessee to justify the allowability of deduction under section 80JJAA. The assessee explained in detail as to why deduction under section 80JJAA should be allowed

GANGANAGHATTA SHANKARAPPA RANGANATHA ,BENGALURU vs. INCOME TAX OFFICER, WARD-5(3)(2), BANGALORE

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

Bench: Shri Chandra Poojari & Shri Keshav Dubeyganganaghatta Shankarappa Ito, Ward - 5(3)(2) Ranganatha Bmtc Building, 80 Ft Road No. 120 Hoodi Apartments 6Th Block, Koramangala Vs. Bengaluru 560095 Cunningham Road Bengaluru 560052 Pan – Aiepg1800C (Appellant) (Respondent) Assessee By: Ms. Lakshmi, Advocate Revenue By: Shri Ganesh R. Gale, Standing Counsel Date Of Hearing: 12.06.2024 Date Of Pronouncement: 20.08.2024 O R D E R Per: Keshavdubey, J.M.

capital gains. The return was then processed u/s. 143(1) of the Act on 15.04.2015. The assessee was employed with M/s. Gem Superstructures Pvt. Ltd. during the FY 2013-14 as observed by the AO. Thereafter the case was selected under CASS and notices were issued calling for details in support of the return filed by the assessee.During the course

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 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

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