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

153C of the Act for these years, a statement of long term capital gain was filed as follows:- AY 2008-09 Particulars Sales Price/ Indexed Transfer Indexed Exempt Capital Year cost/year expenses cost of gain improve -ment Sale of 19500000 571635 0 261650 18666715 0 agricultural (1/2/2018) (6/8/1993) land Total 19500000 571635 0 261650 18666715 0 Sale of Agricultural land

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

153C of the Act for these years, a statement of long term capital gain was filed as follows:- AY 2008-09 Particulars Sales Price/ Indexed Transfer Indexed Exempt Capital Year cost/year expenses cost of gain improve -ment Sale of 19500000 571635 0 261650 18666715 0 agricultural (1/2/2018) (6/8/1993) land Total 19500000 571635 0 261650 18666715 0 Sale of Agricultural land

SHRI D.DASAPPA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Capital Gains'. The ld. AR submitted that the assessment under section 153C is bad in law since the additions made

SHRI D.DASAPPA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Capital Gains'. The ld. AR submitted that the assessment under section 153C is bad in law since the additions made

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 on account of conversion of a firm into a company under the provisions of Schedule IX of the Companies Act, 1956. Now the law is quite settled that an assessment u/s. 153A can be made only based on the incriminating material found as a result of action u/s. 132 of the Act. In the present cases, the alleged

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 on account of conversion of a firm into a company under the provisions of Schedule IX of the Companies Act, 1956. Now the law is quite settled that an assessment u/s. 153A can be made only based on the incriminating material found as a result of action u/s. 132 of the Act. In the present cases, the alleged

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 on account of conversion of a firm into a company under the provisions of Schedule IX of the Companies Act, 1956. Now the law is quite settled that an assessment u/s. 153A can be made only based on the incriminating material found as a result of action u/s. 132 of the Act. In the present cases, the alleged

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 on account of conversion of a firm into a company under the provisions of Schedule IX of the Companies Act, 1956. Now the law is quite settled that an assessment u/s. 153A can be made only based on the incriminating material found as a result of action u/s. 132 of the Act. In the present cases, the alleged

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

Bench: Shri Laxmi Prasad Sahu & Shri Soundarajan K

capital gains / income from other sources from the said sale has not been offered to tax. On the basis of the above information received from the Investigation Wing and perusal of the seized documents, the AO had reason to believe that income chargeable to tax has escaped assessment 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

Bench: Shri Laxmi Prasad Sahu & Shri Soundarajan K

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

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

section 153C that the said seized document does not pertain to Trans Global Power Ltd. but to the assessee. The AO of the assessee after examining the JDA and satisfied that the same belongs to the assessee initiated proceedings u/s.153C. The AO on examination of the JDA was of the view capital gains

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

section 153C of the Act dated 07th September 2020. Page 5 of 22 ITA No.465/Bang/2025 8. During the assessment proceeding, the AO was of the view that the assessee should have offered the construction cost of 365 flats as capital gain

SHRI.J M VRUSHABENDRAIAH ,HOSPET vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

The appeal of the assessee is partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2010-11

capital gains shown by the Assessee was bogus and no separate reason disclosing satisfaction of the assessing officer for formation of belief that income of assessee had escaped assessment had been recorded, notice issued under section 148 was to be quashed and the consequential assessment was to be annulled. k. Reliance is also placed on the parity of reasoning laid

RAMAMURTHY PRAVEEN CHANDRA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, we have allowed grounds raised by the assessee as per above terms for all the years

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

section 153A of the Act are as under: 2013-14 2014-15 2015-26 2016-17 SALEY 4573564 HOUSE PROPERTY 7986790 8716072 9586870 9676227 PGBP 269570718 1237670552 493696985 325550587 STCG 136372 222312 655065 10021 CAPITAL GAIN 12563022 IOS 101974790 51714335 152804718 57852150 TOTAL INCOME 367996150 1286588270 669502500 387279160 RETURN FILED ON139

RAMAMURTHY PRAVEEN CHANDRA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, we have allowed grounds raised by the assessee as per above terms for all the years

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

section 153A of the Act are as under: 2013-14 2014-15 2015-26 2016-17 SALEY 4573564 HOUSE PROPERTY 7986790 8716072 9586870 9676227 PGBP 269570718 1237670552 493696985 325550587 STCG 136372 222312 655065 10021 CAPITAL GAIN 12563022 IOS 101974790 51714335 152804718 57852150 TOTAL INCOME 367996150 1286588270 669502500 387279160 RETURN FILED ON139

RAMAMURTHY PRAVEEN CHANDRA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, we have allowed grounds raised by the assessee as per above terms for all the years

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

section 153A of the Act are as under: 2013-14 2014-15 2015-26 2016-17 SALEY 4573564 HOUSE PROPERTY 7986790 8716072 9586870 9676227 PGBP 269570718 1237670552 493696985 325550587 STCG 136372 222312 655065 10021 CAPITAL GAIN 12563022 IOS 101974790 51714335 152804718 57852150 TOTAL INCOME 367996150 1286588270 669502500 387279160 RETURN FILED ON139

RAMAMURTHY PRAVEEN CHANDRA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, we have allowed grounds raised by the assessee as per above terms for all the years

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

section 153A of the Act are as under: 2013-14 2014-15 2015-26 2016-17 SALEY 4573564 HOUSE PROPERTY 7986790 8716072 9586870 9676227 PGBP 269570718 1237670552 493696985 325550587 STCG 136372 222312 655065 10021 CAPITAL GAIN 12563022 IOS 101974790 51714335 152804718 57852150 TOTAL INCOME 367996150 1286588270 669502500 387279160 RETURN FILED ON139

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

capital gain computation. The ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 4 of 23 CIT(A) dismissed the assessee’s appeal for AY 2007-08 by upholding the addition made towards undisclosed profits from sale of mutual funds. 7. Before the CIT(Appeals), the assessee had raised a legal contention that the AO has assumed jurisdiction u/s. 153C without