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

132 of the Act was conducted on 23/02/2022 in the case of Komrala and Nanda Group of Companies, in the course of which the residential premise of the assessee at 66/1(164), Pranav, South Cross Road, Basavangudi, Bengaluru-560004 was covered. Thereafter, the case was centralized with the Deputy Commissioner of Income Tax, Central Circle-1(4), Bengaluru vide order

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

132 of the Act was conducted on 23/02/2022 in the case of Komrala and Nanda Group of Companies, in the course of which the residential premise of the assessee at 66/1(164), Pranav, South Cross Road, Basavangudi, Bengaluru-560004 was covered. Thereafter, the case was centralized with the Deputy Commissioner of Income Tax, Central Circle-1(4), Bengaluru vide order

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

132 of the Act is invalid and\nconsequently the entire assessment proceedings are void-ab-\ninitio (For the A.Ys.2013-14 to 2017-18).\n\nd.\nThe notices issued under section 153A of the Act are\nmaterially defective and consequently the entire proceedings\npursuant to such invalid notice are bad in law (For the A. Ys.\n2013

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

132 of the Act is invalid and\nconsequently the entire assessment proceedings are void-ab-\ninitio (For the A.Ys.2013-14 to 2017-18).\nd.\nThe notices issued under section 153A of the Act are\nmaterially defective and consequently the entire proceedings\npursuant to such invalid notice are bad in law (For the A. Ys.\n2013

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

132 of the Act is invalid and consequently the entire assessment proceedings are void-ab- initio (For the A.Ys. 2013-14 to 2017-18). d. The notices issued under section 153A of the Act are materially defective and consequently the entire proceedings pursuant to such invalid notice are bad in law (For the A.Ys

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

132 of the Act is invalid and consequently the entire assessment proceedings are void-ab- initio (For the A.Ys. 2013-14 to 2017-18). d. The notices issued under section 153A of the Act are materially defective and consequently the entire proceedings pursuant to such invalid notice are bad in law (For the A.Ys

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

132 of the Act is invalid and consequently the entire assessment proceedings are void-ab- initio (For the A.Ys. 2013-14 to 2017-18). d. The notices issued under section 153A of the Act are materially defective and consequently the entire proceedings pursuant to such invalid notice are bad in law (For the A.Ys

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

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

132 of the Act is invalid and\nconsequently the entire assessment proceedings are void-ab-\ninitio (For the A.Ys.2013-14 to 2017-18).\n\nd.\nThe notices issued under section 153A of the Act are\nmaterially defective and consequently the entire proceedings\npursuant to such invalid notice are bad in law (For the A. Ys.\n2013

M/S. ATRIA WIND (KADAMBUR) PRIVATE LIMITED,BENGALUAU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(4), BENGALURU

In the result, appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year: 2017-18

gains. The statute laid down five conditions by way of proviso to the sub-clause (xiii) of section 47 for the entitlement of the benefit. The AO mainly relied on these provisos and alleged M/s. Atria Wind (Kadambur) Private Limited, Bangalore Page 9 of 19 that the assessee had violated the proviso (a) & (c) of section 47(xiii

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

capital gain arising from the sale of listed shares is exempted U/s 10(38) of the Act. The withdrawal of claim of exemption by the assessee in the statement U/s 132(4) of the Act, ignoring the supporting evidence of genuineness of the claim, would not ipso facto amount to concealment of income or furnishing inaccurate particulars of income. Explanation

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

132 search. On perusal of the documents seized, the AO noticed certain documents that belonged to the assessee and in view of the same the provisions of section 153C of the Act was invoked in assessee’s case and notice was issued accordingly. ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 3 of 23 4. In response to the notice

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

132 search. On perusal of the documents seized, the AO noticed certain documents that belonged to the assessee and in view of the same the provisions of section 153C of the Act was invoked in assessee’s case and notice was issued accordingly. ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 3 of 23 4. In response to the notice

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

132 search. On perusal of the documents seized, the AO noticed certain documents that belonged to the assessee and in view of the same the provisions of section 153C of the Act was invoked in assessee’s case and notice was issued accordingly. ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 3 of 23 4. In response to the notice

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

132 search. On perusal of the documents seized, the AO noticed certain documents that belonged to the assessee and in view of the same the provisions of section 153C of the Act was invoked in assessee’s case and notice was issued accordingly. ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 3 of 23 4. In response to the notice

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

132 search. On perusal of the documents seized, the AO noticed certain documents that belonged to the assessee and in view of the same the provisions of section 153C of the Act was invoked in assessee’s case and notice was issued accordingly. ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 3 of 23 4. In response to the notice

SRI. MARUTHIVANDITH REDDY MANNUR,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeal of the assessee in ITA No

capital gains is intended\nto tax the gains of assessee not what an assessee might have gained\nand what is not gained cannot be computed as gain and the assessee\ncannot fastened with the liability on a fictional income.\n5.20 Similarly, the Hon'ble Supreme Court in the case of CIT Vs.\nShivakami

M/S. MUKKA PROTEINS LIMITED (FORMERLY KNOW AS MUKKA SEA FOOD INDUSTRIES LTD., ),MANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, , MANGALURU

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Keshav Dubey

section 133A of the Act was new to the management and had agreed to an ad hoc addition. The Assessing Officer based on the admissions made by the assessee recomputed the assessment. The order was set aside by the Commissioner (Appeals) and this order was upheld by the Tribunal. On appeal to the High Court, the High Court held that

SRI. MARUTHIVANDITH REDDY MANNUR,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX , CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeal of the assessee in ITA No

capital gains is intended\nto tax the gains of assessee not what an assessee might have gained\nand what is not gained cannot be computed as gain and the assessee\ncannot fastened with the liability on a fictional income.\n5.20 Similarly, the Hon'ble Supreme Court in the case of CIT Vs.\nShivakami