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. 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

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

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 do not arising out of ITA Nos.2222 & 2223/Bang/2016 Page 7 of 82 any material seized during the search. An assessment can be made under section 153C of the Act only if there is a satisfaction that the books of account

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 do not arising out of ITA Nos.2222 & 2223/Bang/2016 Page 7 of 82 any material seized during the search. An assessment can be made under section 153C of the Act only if there is a satisfaction that the books of account

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

153C. (1)Notwithstanding anything contained in section 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

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

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

153C of the Act for the relevant assessment year which was selected for scrutiny was not inaccurate; and there is not even remote link between the materials seized and the additional income that was voluntarily offered by the Appellant Company. 3.12 In view of the written submissions and merits of the case, the Assessee requested for the dropping

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

1. Invalidity of Notice Under Section 153C/ Absence of any incriminating documents: Page 2 of 22 ITA No.465/Bang/2025 The Hon'ble Commissioner of Income Tax (Appeals) erred in not accepting the fact that no incriminating material was found pertaining to the Appellant, which warranted the issuance of notice under Section 153C of the Income Tax Act. Your Appellant had already

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(1) 29.09.2013 28.0902014 30.09.2015 17.10.2016 143 (1) 31.10.2014 1

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(1) 29.09.2013 28.0902014 30.09.2015 17.10.2016 143 (1) 31.10.2014 1

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(1) 29.09.2013 28.0902014 30.09.2015 17.10.2016 143 (1) 31.10.2014 1