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

9. Considering the rival submission, I noted that assessee received capital asset and computed capital gain of Rs.28,81,917/- which has been claimed as deduction under section 54F(1) of the Act. Assessee has invested in the construction of residential property of his spouse Smt. N. Mahalakshmi at Plot No.283, I Block, Banashankari 6th Stage, Bangalore. Assessee filed return

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

capital gain was declared at Rs. 29,74,951 by the assessee in the original return, a notice under section 148 of the Act was issued. Pursuant to the said notice, the assessee filed the revised return of income showing higher income. The said return of income was accompanied by a note in which the assessee submitted that he surrendered

IBM CORPORATION,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

capital gain was declared at Rs. 29,74,951 by the assessee in the original return, a notice under section 148 of the Act was issued. Pursuant to the said notice, the assessee filed the revised return of income showing higher income. The said return of income was accompanied by a note in which the assessee submitted that he surrendered

IBM ISRAEL 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

capital gain was declared at Rs. 29,74,951 by the assessee in the original return, a notice under section 148 of the Act was issued. Pursuant to the said notice, the assessee filed the revised return of income showing higher income. The said return of income was accompanied by a note in which the assessee submitted that he surrendered

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

capital gain was declared at Rs. 29,74,951 by the assessee in the original return, a notice under section 148 of the Act was issued. Pursuant to the said notice, the assessee filed the revised return of income showing higher income. The said return of income was accompanied by a note in which the assessee submitted that he surrendered

SHARADA MOHAN SHETTY,KARWAR vs. ITO, WARD-2, KARWAR

In the result, appeal of the assessee is partly allowed

Bench: Or During The Courses Of Appeal Hearing.” 2. The Brief Facts Of The Case Are That The Assessee Filed Return Of Income On 30/09/2015 For The Assessment Year 2015-16 Declaring Page 2 Of 16

section 54F, it is clear that the assessee is required to purchase within a period of one year before or two years after the date on which the transfer took place or constructed one residential house within a period of three years after the date of sale of capital asset. In the instant case, the assessee sold the capital asset

HANCHIPURA CHANNAIAH NANDAKISHORE,MAHALKSHMIPURAM vs. INCOME TAX OFFICER WARD INTL, TAXATION 1(2) BANGALORE, BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyit(It)A No.258/Bang/2025 Assessment Year : 2018-19 Hanchipura Channaiah Nandakishore 87, 2Nd Stage & Phase Mahalakshmipuram 2Nd Stage, 14Th Main, West Of Chord Ito Road Vs. Ward International Taxation 1(2) Mahalakshmipuram Bangalore Bangalore 560 086 Pan No :Blrpn0428A Appellant Respondent Appellant By : Sri Siddesh N Gaddi, A.R. Respondent By : Dr. Divya K.J., D.R. Date Of Hearing : 07.08.2025 Date Of Pronouncement : 04.11.2025

139(1) of sixth Proviso, section 54, section 54B or section 54D or section 54EC or section 54F or section 54G or section 54GA or section 54GB were inserted by the Finance Act, 2019 which is effective from 01.04.2020, but the impugned case on hand is related to the AY 2018-19 & therefore the exemption u/s 54/54F can be claimed

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BELLARY, CENTRAL CIRCLE, BELLARY vs. M/S VIRGO PROPERTIES PRIVATE LIMITED, CHENNAI

In the result, appeal filed by the Revenue is dismissed

139(1) of the Act of Rs.5,29,40,890/- was accepted and\nthe capital gain detail of the computation filed by the assessee on 19.03.2016\nwas also accepted and MAT computation made by the AO. During the course\nof hearing, the learned Counsel was agitated as reopening made by the AO is\nbeyond the due date of 4 years

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), BENGALURU vs. HIREHAL JAIRAJ BALRAM, BENGALURU

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

139(5) of the Act on 31.05.2017 declaring total\nincome of Rs.34,02,060/-. Return was processed under Section 143(1) of the\nAct. The case was reopened under Section 147 of the Act for escaped income\nchargeable to tax. Subsequently notice under Section 148 of the Act, dated\n26.03.2021 was issued and served on the assessee. Assessee

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

139(9) and\ntherefore the return filed on 26-02-2021 was valid.\n5. The Ld. CIT(A) has erred in upholding the Notice Issued u/s 153C on\nthe basis of a satisfaction note alleged to have been drawn on 24-03-\n2020 on the basis of assessment proceedings in the case of searched\nassessee M/S. Brigade Enterprises Ltd without

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

In the result, we allow appeal filed by the assessee

capital gains / income from other sources from the said sale has not been offered to tax.\nOn the basis of the above information received from the Investigation Wing and perusal of the\nseized documents, the AO had reason to believe that income chargeable to tax has escaped\nassessment for the assessment year 2006-07 and hence the provisions of section

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

In the result, we allow appeal filed by the assessee

capital gains / income from other sources from the said sale has not been offered to tax.\nOn the basis of the above information received from the Investigation Wing and perusal of the\nseized documents, the AO had reason to believe that income chargeable to tax has escaped\nassessment for the assessment year 2006-07 and hence the provisions of section

MR. D K SHIVAKUMAR,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

In the result, we allow appeal filed by the assessee

capital gains / income from other sources from the said sale has not been offered to tax.\nOn the basis of the above information received from the Investigation Wing and perusal of the\nseized documents, the AO had reason to believe that income chargeable to tax has escaped\nassessment for the assessment year 2006-07 and hence the provisions of section

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

capital gains / income from other sources from the said sale has not been offered to tax.\nOn the basis of the above information received from the Investigation Wing and perusal of the\nseized documents, the AO had reason to believe that income chargeable to tax has escaped\nassessment for the assessment year 2006-07 and hence the provisions of section

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

capital gains / income from other sources from the said sale has not been offered to tax.\nOn the basis of the above information received from the Investigation Wing and perusal of the\nseized documents, the AO had reason to believe that income chargeable to tax has escaped\nassessment for the assessment year 2006-07 and hence the provisions of section

SHANTHA ALIAS SHANTHAMMA,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(4), BANGALORE

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

139 of the Act as on 30th December 2020\ndeclaring total income at Rs. 4,46,26,820/- only.\n7. Thereafter, the AO of the assessee in the capacity of AO of the\nperson other than search person recorded his satisfaction under section\n153C of the Act as on 3rd September 2021. As per the note, the AO of\nthe

SRI. ARAVINDAN VEDHAVATHTHIYAR SINGARACHARI ,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-5(3)(1), BANGALORE

In the result, the appeals of the assessee are partly allowed

capital gains by adopting deemed\nsale consideration at Rs. 26,89,99,677/-. However, the assessee has\nfailed to do so. It has also been seen that the assessee has furnished\nincorrect details regarding sale consideration of one property sold and\ndeclared in the ITR as per the provisions of section 50C of the Income Tax\nAct

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

capital gain in the Assessment Year 2015-16. There was incriminating document found during the course of search in the case of Bharath Beedi Work (P) Ltd. Therefore, after recording satisfaction, notice under section 153C of the Act was issued. The JDA was found during the course of search and the assessee was a co-owner of the 7 landlords

DCIT, CC-2(1), BENGALURU, BENGALURU vs. CHAITANYA PROPERTIES PVT LTD, BENGALURU

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2011-12

139(1) on 30-09-2011 for the year under consideration, the assessee declared a business loss of Rs. 13,98,37,03/- only. 4. Subsequently, a search proceeding under section 132 of the Act was conducted at Srinivasa Trust on 06-08-2012, during which a Joint Development Agreement (JDA) dated 05-02-2005 between the assessee (Chaitanya Properties