M/S BRIGADE ENTERPRISES LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1(1)(2), BANGALORE

In the result, the assessee’s appeals for assessment years 2008-09 to 2010-11 are partly allowed for statistical purposes

Bench: Shri Jason P Boaz & Shri Pavan Kumar Gadale

section 14A are applicable in view of the decision of Hon’ble Supreme Court in the case of Rajednra Prasad Moody (supra). His submission is that the decision of Hon’ble Delhi Court reversing the decision of Special Bench in Cheminvest should not be followed because that is contrary to the principles laid down in Rajendra Prasad Modi(supra

M/S UNITED BREWERIES LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(1), BANGALORE

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

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

14A 1,31,50,663 Disallowance under section 40(a)(ia) 8,24,77,951 Disallowance under section 43B 49,27,979 Foreign royalty 16,56,488 Brand promotion expense 13,76,00,000 3. The A.O. also made an addition of Rs.140.49 crore and treated the amount transferred UBL Trust to the assessee as “long term capital gain

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

14A\nRs.37,82,496\n2). Net Capital Gain earned from\nSale of Land and from Sale\nOf shares as discussed para 4\nOf the assessment order i.e.,\nAmount credited to Capital\nReserve (12,11,12,036-45,05,000) -\nRs.11,66,07,036\nRs.12,03,89,532\nDeemed Income as per Section

M/S. BHARAT ELECTRONICS LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, LTU, CIRCLE-1, BENGALURU

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

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahuassessment Year : 2012-13 M/S. Bharat Electronics The Assistant Ltd., Commissioner Of Registered Office, Income Tax, Outer Ring Road Ltu, Nagawara, Circle – 1, Vs. Bangalore – 560 045. Bangalore. Pan: Aaacb5985C Appellant Respondent

gain on money accumulated to purchase capital asset being the first step for acquisition of capital asset is capital in nature and cannot be taxed. The assessee made advance payments through Letter of Credit is the first step for acquisition of capital asset because there was a direct link of LOC towards purchase of the fixed assets, therefore it will

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

14A as per rule 8D in the absence of satisfaction of the Ld.AO on incorrectness of the claim made by the assessee. 8.5. Without prejudice, Special bench of Hon’ble Delhi Tribunal in the case of ACIT vs. Vireet Investment (P) Ltd., reported in (2017) 82 taxmann.com 415, among other cases has held that only those investments

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

14A as per rule 8D in the absence of satisfaction of the Ld.AO on incorrectness of the claim made by the assessee. 8.5. Without prejudice, Special bench of Hon’ble Delhi Tribunal in the case of ACIT vs. Vireet Investment (P) Ltd., reported in (2017) 82 taxmann.com 415, among other cases has held that only those investments

UNITED BREWERIES LTD.,,BANGALORE vs. ADDL..C.I.T., BANGALORE

In the result, the appeals are partly allowed

Bench: Shri Vijay Pal Rao & Shri S. Jayaraman

14A of the Act to the extent of old investment is set aside to the record of the Assessing Officer with same direction as given for the Assessment Year 2006-07. Since there is a dividend income for the Assessment Year 2009-10 therefore the decision of Hon'ble Delhi High Court in the case of Cheminvest

M/S. ENZEN GLOBAL SOLUTIONS PRIVATE LIMITED,BENGALURU vs. INCOME TAX OFFICER, WARD- 2(1)(4), BANGLAOORE

In the result, the appeal of the assessee is allowed while appeal of the Revenue is partly allowed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy Sappeal Nos. & Appellant Respondent Assessment Year

Capital Gains' and is not exempt from tax. Further the investment in preference shares is to be regarded as an investment in an unlisted and unquoted security & is therefore definitely exigible to tax. Section 14A

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2), BANGALORE vs. M/S. ENZEN GLOBAL SOLUTIONS PRIVATE LIMITED, BANGALORE

In the result, the appeal of the assessee is allowed while appeal of the Revenue is partly allowed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy Sappeal Nos. & Appellant Respondent Assessment Year

Capital Gains' and is not exempt from tax. Further the investment in preference shares is to be regarded as an investment in an unlisted and unquoted security & is therefore definitely exigible to tax. Section 14A

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

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

section 14A of the Act to the file of the learned CIT(A) for reconsideration. 10. The learned CIT(A), vide order dated 30-03-2024, once again decided the issue of capital gains

GMR POWER CORPORATION LIMITED,BANGALORE vs. ADDL.C.I.T., BANGALORE

In the result, assessee’s appeal viz

Bench: Shri Abraham P George & Shri Vijay Pal Rao & M/S.Gmr Power Corporation Ltd. 25/1, Skip House, Museum Road, Bangalore. … Appellant Pan:Aaacg 6037 G Vs. 1. Addl.Commissioner Of Income-Tax, Range-11, Bangalore. 2. Deputy Commissioner Of Income-Tax, Circle 3(1)(2), Bangalore … Respondent & (By The Revenue) ******** Assessee By: Shri Yogesh A Thar, Ca. Revenue By: Smt.Neera Malhotra, Cit(Dr).

section 14A of the Act be added to the cost of mutual fund units. In this regard, reliance is also placed on the following decisions wherein it has been held that where the assessee has added the interest to the cost of the shares held such interest to be treated as part of cost and reduced from the sale consideration

DCIT, BANGALORE vs. M/S GMR POWER CORPORATION LTD., (FORMERLY KNOWN AS GMR POWER CORPORATION PVT. LTD.,), BANGALORE

In the result, assessee’s appeal viz

Bench: Shri Abraham P George & Shri Vijay Pal Rao & M/S.Gmr Power Corporation Ltd. 25/1, Skip House, Museum Road, Bangalore. … Appellant Pan:Aaacg 6037 G Vs. 1. Addl.Commissioner Of Income-Tax, Range-11, Bangalore. 2. Deputy Commissioner Of Income-Tax, Circle 3(1)(2), Bangalore … Respondent & (By The Revenue) ******** Assessee By: Shri Yogesh A Thar, Ca. Revenue By: Smt.Neera Malhotra, Cit(Dr).

section 14A of the Act be added to the cost of mutual fund units. In this regard, reliance is also placed on the following decisions wherein it has been held that where the assessee has added the interest to the cost of the shares held such interest to be treated as part of cost and reduced from the sale consideration

GMR POWER CORPORATION LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, assessee’s appeal viz

Bench: Shri Abraham P George & Shri Vijay Pal Rao & M/S.Gmr Power Corporation Ltd. 25/1, Skip House, Museum Road, Bangalore. … Appellant Pan:Aaacg 6037 G Vs. 1. Addl.Commissioner Of Income-Tax, Range-11, Bangalore. 2. Deputy Commissioner Of Income-Tax, Circle 3(1)(2), Bangalore … Respondent & (By The Revenue) ******** Assessee By: Shri Yogesh A Thar, Ca. Revenue By: Smt.Neera Malhotra, Cit(Dr).

section 14A of the Act be added to the cost of mutual fund units. In this regard, reliance is also placed on the following decisions wherein it has been held that where the assessee has added the interest to the cost of the shares held such interest to be treated as part of cost and reduced from the sale consideration

MANIPAL HEALTH ENTERPRISES PRIVATE LIMITED,BANGALORE vs. ACIT, CIRCLE 2(3)(1), BANGALORE

In the result, the the revenue’s appeal is dismissed

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2014-15

capital gains’. Therefore there was no expenditure incurred by the assessee. He strongly relied in the judgments of different High Courts where it is specifically stated that recording satisfaction before invoking section 14A

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BENGALURU vs. MANIPAL HEALTH ENTERPRISES PVT LTD, BENGALURU

In the result, the the revenue’s appeal is dismissed

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2014-15

capital gains’. Therefore there was no expenditure incurred by the assessee. He strongly relied in the judgments of different High Courts where it is specifically stated that recording satisfaction before invoking section 14A

MANIPAL HEALTH SYSTEMS PRIVATE LIMITED,BANGALORE vs. DCIT, CENTRAL CIRCLE 1(2), BANGALORE

In the result, the the revenue’s appeal is dismissed

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2014-15

capital gains’. Therefore there was no expenditure incurred by the assessee. He strongly relied in the judgments of different High Courts where it is specifically stated that recording satisfaction before invoking section 14A

RAAJRATNA ENERGY HOLDINGS PRIVATE LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BANGALORE

section 56(2)(viib) of the\nAct for the Assessment Year 2017-18. Further for the Assessment Year 2018-\n19, AO has disallowed short term capital loss of Rs.5,10,000/- as per his Order\nat para No.5 on sale of investment in Venu Hydro Powers Ltd., and observed\nthat the assessee has claimed excess long term capital loss

RAAJRATNA ENERGY HOLDINGS PRIVATE LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

Accordingly, this\nground is allowed for statistical purposes

section 56(2)(viib) of the\nAct for the Assessment Year 2017-18. Further for the Assessment Year 2018-\n19, AO has disallowed short term capital loss of Rs.5,10,000/- as per his Order\nat para No.5 on sale of investment in Venu Hydro Powers Ltd., and observed\nthat the assessee has claimed excess long term capital loss