IBM UNITED KINGDOM LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX , INTERNATIONAL TAXATION-CIRCLE-1(2), BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

131(Delhi) (refer page 193 – 198 of PB) IT(IT)A Nos.487 to 504/Bang/2024 & IT(IT)A Nos.541 to 546/Bang/2024 IBM Canada Limited & Others Page 16 of 56 Sl Caselaw with Citation Favourable/ Forum Date of No._ unfavourable pronouncement 15 Google LLC vs Favourable Bangalore 20 February JCIT(OSD)/DCIT(IT) ITAT 2023 [IT(IT)Appeal Nos 167/Bang/2021 & 688/Bang/2022

IBM CORPORATION,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, INTERNATIONAL TAXATION, CIRCLE-1(2)(1) , BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

131(Delhi) (refer page 193 – 198 of PB) IT(IT)A Nos.487 to 504/Bang/2024 & IT(IT)A Nos.541 to 546/Bang/2024 IBM Canada Limited & Others Page 16 of 56 Sl Caselaw with Citation Favourable/ Forum Date of No._ unfavourable pronouncement 15 Google LLC vs Favourable Bangalore 20 February JCIT(OSD)/DCIT(IT) ITAT 2023 [IT(IT)Appeal Nos 167/Bang/2021 & 688/Bang/2022

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

M/S. CONCORDE HOUSING CORPORATION PRIVATE LIMITED,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BENGALURU

In the result, appeal of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadav

131 of the Act on 25.1.2016. However, the same was not reflected in the return filed in response to notice u/s 153A of the Act. 5.4 Later, the assessee could establish the evidence in the books of accounts only to the extent of Rs.2,19,16,087/-. However, on later stage, assessee offered additional income of Rs.5

IBM GLOBAL SERVICES INDIA PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), BANGALORE

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

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2000-2001

capital fund.] Explanation 2.—For the purposes of this section,— (i) "computer software" means,— (a)any computer programme recorded on any disc, tape, perforated media or other information storage device; or (b)any customized electronic data or any product or service of similar nature, as may be notified by the Board, which is transmitted or exported from India

NAGAMMA,RAICHUR vs. INCOME TAX OFFICE-WARD 1, RAICHUR

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

131/- and deduction under section 54B of the Act was\nallowed of Rs.16,01,435/-. Accordingly, long term capital gain was calculated\nat Rs.26,06,434/-. Assessee filed detailed written submissions which was\nconsidered and not accepted and AO made addition under the LTCG of\nRs.26,06,434/-.\n3. Aggrieved from the above Order, assessee filed appeal before the\nCIT

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BANGALORE

section 132A. 50.3 Applicability-These\namendments will take effect from the 1st day of June, 2007.\"\n\n6.2 From the perusal of the section 153D of the Act read with the CBDT\nCircular No. 3 of 2008, dated 12-3-2008, the legislative intent can be gathered\nso far as that the legislature in its highest wisdom made it compulsory

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BENGALURU

Section\n153D. It is not an exercise dealing with a immaterial matter which\ncould be corrected by taking recourse to Section 292B of the Act.\n16. We are not inclined to interdict the order of the Tribunal.\n17. Accordingly, the appeal is closed.\n6.5 The above view taken by the Hon’ble Delhi High Court in the case of PCIT

M/S. SRI. DEVARAJ URS EDUCATIONAL TRUST FOR BACKWARD CLASSES(REGD),KOLAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BANGALORE

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

131(1A) of the Act.\n10.3 The learned CIT(A) regarding the contention of the assessee that\nloose sheet or materials found during the search are not the books of\naccount, held that loose sheet found and seized during the search\ncontains valuable information, therefore the same are regarded as\nincriminating documents and presumption under section

DCIT, CENTRAL CIRCLE-1(4), BENGALURU, BENGALURU vs. DEVARAJ URS EDUCATIONAL TRUST FOR BACKWARD CLASSES, KOLAR

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

131(1A) of the Act.\n10.3 The learned CIT(A) regarding the contention of the assessee that\nloose sheet or materials found during the search are not the books of\naccount, held that loose sheet found and seized during the search\ncontains valuable information, therefore the same are regarded as\nITA No.1060-1559-1560-1561/Bang/2024 &\n903-1547-1548-1549/Bang/2024\nPage

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -1(4), BENGALURU, BENGALURU vs. SRI DEVARAJ URS EDUCATIONAL TRUST FOR BACKWARD CLASSES (REGD), KOLAR

131(1A) of the Act.\n10.3 The learned CIT(A) regarding the contention of the assessee that\nloose sheet or materials found during the search are not the books of\naccount, held that loose sheet found and seized during the search\ncontains valuable information, therefore the same are regarded as\nITA No.1060-1559-1560-1561/Bang/2024 &\n903-1547-1548-1549/Bang/2024\nPage

NALAPAD PROPERTIES ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOMER TAX, CENTRAL CIRCLE-2(3) , BANGALORE

Section 45(5A) of the Act which is applicable\nfor the individuals and HUF and not applicable to the appellant which\nis a Registered partnership Firm.\n9. Without prejudice to the above ground it is urged that the Id. CIT(A)\nought to have appreciated the act that the delivery of possession of\nbuilt

M/S. SRI DEVARAJ URS EDUCATIONAL TRUST FOR BACKWARD CLASSES (REGD),KOLAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BANGALORE

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

131(1A) of the Act.\n10.3 The learned CIT(A) regarding the contention of the assessee that\nloose sheet or materials found during the search are not the books of\naccount, held that loose sheet found and seized during the search\ncontains valuable information, therefore the same are regarded as\nITA No.1060-1559-1561/Bang/2024 &\n903-1547-1548-1549/Bang/2024\nPage

DCIT, CENTRAL CIRCLE-1(4), BENGALURU, BENGALURU vs. DEVARAJ URS EDUCATIONAL TRUST FOR BACKWARD CLASSES, KOLAR

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

131(1A) of the Act.\n10.3 The learned CIT(A) regarding the contention of the assessee that\nloose sheet or materials found during the search are not the books of\naccount, held that loose sheet found and seized during the search\ncontains valuable information, therefore the same are regarded as\nITA No.1060-1559-1560-1561/Bang/2024 &\n903-1547-1548-1549/Bang/2024\nPage

M/S. SRI DEVARAJ URS EDUCATIONAL TRUST ,KOLAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BANGALORE

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

131(1A) of the Act.\n10.3 The learned CIT(A) regarding the contention of the assessee that\nloose sheet or materials found during the search are not the books of\naccount, held that loose sheet found and seized during the search\ncontains valuable information, therefore the same are regarded as\nITA No.1060-1559-1561/Bang/2024 &\n903-1547-1548-1549/Bang/2024\nPage

DCIT, CENTRAL CIRCLE-1(4), BENGALURU vs. SRI DEVARAJ URS EDUCATIONAL TRUST FOR BACKWARD CLASSES, KOLAR

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

131(1A) of the Act.\n10.3 The learned CIT(A) regarding the contention of the assessee that\nloose sheet or materials found during the search are not the books of\naccount, held that loose sheet found and seized during the search\ncontains valuable information, therefore the same are regarded as\nITA No.1060-1559-1560-1561/Bang/2024 &\n903-1547-1548-1549/Bang/2024\nPage

SHRI. ANANTULA VIJAY MOHAN ,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6(1)(1), BANGALORE

Bench: Shri Laxmi Prasad Sahu\Nand\Nshri Keshav Dubey\Nita Nos.2059 & 2060/Bang/2024\N Assessment Years: 2016-17 & 2017-18\Nanantula Vijay Mohan\N9, Banjara Avenue Road\Nno.1, Banjara Hills\Nhyderabad 500 034\Npan No: Aelpm6515K\Nappellant\Nvs.\Nvs.\Ndcit\Ncircle-6(1)(1)\Nbangalore\Nrespondent\Nsp No.67/Bang/2024\N(Arising Out Of Ita No.2060/Bang/2024)\N Assessment Year: 2017-18\Nanantula Vijay Mohan\N9, Banjara Avenue Road\Nno.1, Banjara Hills\Nhyderabad 500 034\Npan No: Aelpm6515K\Nappellant\Ndcit\Ncircle-6(1)(1)\Nbangalore\Nrespondent\Nappellant By\Nrespondent By\Nsri Padma Khincha, A.R.\Nsri Sridhar E., D.R.\Ndate Of Hearing\N: 18.02.2025\Ndate Of Pronouncement: 07.05.2025\Norder\Nper Laxmi Prasad Sahu:\Nthese Appeals At The Instance Of The Assessee Are Directed\Nagainst The Orders Of Ld. Cit(A)/Nfac, Delhi Both Dated 23.09.2024\Nvide Din & Order No. Itba/Nfac/S/250/2024-25/1068988279(1)\Nfor The Assessment Year 2016-17 & Vide Din & Order\Nno.Itba/Nfac/S/250/2024-25/1068999127(1) For The Assessment\Nyear 2017-18 Passed U/S 250 Of The Income Tax Act, 1961 (In Short\N'The Act'). Since Both These Appeals & The Stay Petition Are Of The\Nsame Assessee For The Different Assessment Years, These Are Clubbed\Ntogether, Heard Together & Disposed Of By This Common Order For\Nthe Sake Of Convenience & Brevity.\Nita No.2059/Bang/2024 (Ay 2016-17):\N2. First, We Take Up Ita No.2059/Bang/2024 For The Ay 2016-\N17 Wherein The Assessee Has Raised The Following Grounds Of Appeal:\N1. General\N1.

capital gain of Rs.\n55,49,07,175/- (Rs.75,73,97,892 – Rs.20,24,90,717/-) was offered\nto tax.\n4.1 Thereafter, the case of the assessee was selected for scrutiny\nand accordingly notice under section 143(2), 142(1) as well as 131