SREENIVASULU SAGALETI,BENGALURU vs. INCOME TAX OFFICER, WARD-2(2)(2), BENGALURU

In the result, appeal filed by the assessee is allowed

Bench: Shri. Laxmi Prasad Sahuandshri.Keshav Dubeyassessment Year :2018-19

Capital Gain Account was opened since originally, we had intended to start the construction of the new residential property immediately'.” 4. On perusal of the written submissions, it was noted that the assessee has filed return of income under section 139

ACIT, BANGALORE vs. SHRI. PRASHANTH PRAKASH, BANGALORE

In the result, the appeal by the Revenue is dismissed, while the Cross Objection by assessee is treated as allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2009-10

section 139” The Hon’ble Karnataka High Court judgment in the case of Fatima Bai v. ITO, [2009] 32 DTR 243 (Kar). In the aforesaid case, the facts were that the capital gains were invested on or before the due date specified u/s. 139(4

SMT. SAVITRI KADUR,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, BANGALORE

In the result, the appeal of the assessee is allowed to the extent indicated above

Bench: Shri N.V. Vasudevan & Shri Jason P Boazassessment Year : 2008-09

section 47. Therefore, following this decision, this question has to be and is answered in favour of the assessee and against the Revenue.” 26. The decision in the case of Tribhuvandas G.Patel (supra) is a case where the deed of reconstitution specifically referred to release of rights of the outgoing partners in the assets of the partnership and further

ITO, BANGALORE vs. SRI. C. NANJUNDIAH, BANGALORE

In the result we are of the opinion that assessee has to succeed in this appeal

Bench: Smt. P. Madhavi Devi

4) of the Act not only includes section 139(1) of the Act, but will also include all sub-sections of section 139. Perusal of the above section shows that the assessee has to utilize the amount of capital gains

SMT.ANUPAMA NAGESH,BANGALORE vs. INCOME TAX OFFICER, BANGALORE

In the result, the assessee's appeal is allowed

Bench: Shri Vijay Pal Rao

gains" relating to long-term capital assets of the previous year in which such new asset is transferred.] [(4) The amount of the net consideration which is not appropriated by the assessee towards the purchase of the new asset made within one year before the date on which the transfer of the original asset took place, or which

AJIT VASANT PAI,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CPC, BANGALORE

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2017-18

4 of 9 11. We have considered the rival submissions. Section 143(1)(a)(i) to (vi) provides for the following adjustments to be made while processing the return electronically:- “143. (1) Where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142, such return shall be processed

ITO vs. R. SRINIVAS,

In the result, both the Revenue’s appeal and the assessee's C

Capital Gain Scheme should be made in any case not later than the due date applicable in the case of the assessee for furnishing of the return of income under sub-section (1) of section 139. 10. Hence the decision of CIT (Appeals) to consider the last date of filing of return of income under Section 139(4

SRI JOSEPH K.ZACHARIAH ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) CIRCLE-1(2), BANGALORE

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(It)A No.879/Bang/2019 Assessment Year: 2014-15

gain in purchase of new property before the due date of furnishing the return of income u/s 139 of the Act, which encompasses sub-section (1), sub- section (4) & sub-section (5) of section 139 of the Act. Secondly, if it is not done so, it has to be deposited in a capital

CHINNAPPA ANTHONAPPA,BANGALORE vs. ACIT, BANGALORE

In the result, the appeal by the assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2010-11

4. The assessee is an individual. He sold agricultural lands belonging to him in Sy.No.165/17, Doraisanipalaya, Bilekahalli Village, Begur Hobli for a consideration of Rs.6,95,00,000 under an agreement dated 06.09.2007 whereby possession of the property was also delivered to the purchaser in AY 2008-09. The assessee deposited Rs.6 crores in capital designated capital gain deposit

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE vs. M/S. R. MUNIRAJU (HUF), BANGALORE

In the result, the appeal by the revenue and the CO by the assessee are dismissed

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2010-11

139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that,— (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, & CO 2/Bang/2022 Page

SHIVAKUMAR KHENY (HUF) ,BANGALORE vs. INCOME TAX OFFICER WARD-6(3)(2), BANGALORE

In the result, appeal by the Assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2015-16

capital gain which is not appropriated by the assessee towards the purchase of the new asset made within one year before the date on which the transfer of the original asset took place, or which is not utilised by him for the purchase or construction of the new asset before the date of furnishing the return of income under section

SMT.CHANDRAKALA SHASHIDAR ,BANGALORE vs. INCOME TAX OFFICER WARD-5(2)(4), BANGALORE

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

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

capital gains account scheme before the due date prescribed under section 139(1) of the I.T.Act ?” 8.4 In considering the above question of law, the Hon’ble High Court rendered the following findings :- “As is clear from sub-section (4

ASST.C.I.T., MANGALORE vs. DR. YUSUF KUMBLE, MANGALORE

In the result, the appeals filed by the revenue are dismissed

Bench: Shri Inturi Rama Rao & Shri Sudanshu Srivastava

capital gains is computed by taking value of the land entered in the books of the company as sale consideration and the purchase cost of the land in the individual hands as cost of acquisition.” ITA Nos. 1376 & 1377 & 1378 & 1379/Bang/2015 Page 14 of 35 4. After search and seizure operations, notice u/s. 153A was issued to respondent-assessee calling

ASST.C.I.T., MANGALORE vs. DR. ALI KUMBLE, MANGALORE

In the result, the appeals filed by the revenue are dismissed

Bench: Shri Inturi Rama Rao & Shri Sudanshu Srivastava

capital gains is computed by taking value of the land entered in the books of the company as sale consideration and the purchase cost of the land in the individual hands as cost of acquisition.” ITA Nos. 1376 & 1377 & 1378 & 1379/Bang/2015 Page 14 of 35 4. After search and seizure operations, notice u/s. 153A was issued to respondent-assessee calling

ASST.C.I.T., MANGALORE vs. DR. ALI KUMBLE, MANGALORE

In the result, the appeals filed by the revenue are dismissed

Bench: Shri Inturi Rama Rao & Shri Sudanshu Srivastava

capital gains is computed by taking value of the land entered in the books of the company as sale consideration and the purchase cost of the land in the individual hands as cost of acquisition.” ITA Nos. 1376 & 1377 & 1378 & 1379/Bang/2015 Page 14 of 35 4. After search and seizure operations, notice u/s. 153A was issued to respondent-assessee calling

ASST.C.I.T., MANGALORE vs. DR. YUSUF KUMBLE, MANGALORE

In the result, the appeals filed by the revenue are dismissed

Bench: Shri Inturi Rama Rao & Shri Sudanshu Srivastava

capital gains is computed by taking value of the land entered in the books of the company as sale consideration and the purchase cost of the land in the individual hands as cost of acquisition.” ITA Nos. 1376 & 1377 & 1378 & 1379/Bang/2015 Page 14 of 35 4. After search and seizure operations, notice u/s. 153A was issued to respondent-assessee calling

LATE SMT.K.LEELAVATHY, BY L/R SHRI M.THIMMEGOWDA ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that,— (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other

LATE SMT.K.LEELAVATHY BY L/R SHRI M.THIMMEGOWDA ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that,— (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other

LATE SMT.K.LEELAVATHY BY L/R SHRI M.THIMMEGOWDA ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that,— (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain to, or any information contained therein, relates to, a person other