KHODAY ESHWARSA AND SONS PVT LTD (FORMERLY MS KHODAY ESHWARSA AND SONS),BANGALORE vs. DCIT- CENTRAL CIRCLE 1(1) BGL, BANGALORE

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K

capital gains transaction but the same was approved by the Id. Additional Commissioner of Income Tax on the next date which evidence that the approval was granted in mechanical manner. Thus, in the absence of proper approval under section 153D

KHODAY ESHWARSA AND SONS ( PRESENTLY KHODAY ESHWARSA AND SONS PVT LTD,BANGALORE vs. DCIT - CENTRAL CIRCLE 1(1) BANGALORE, BANGALORE

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K

capital gains transaction but the same was approved by the ld. Additional Commissioner of Income Tax on the next date which evidence that the approval was granted in mechanical manner. Thus, in the absence of proper approval under section 153D

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain or as business income, ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore Page 49 of 96 which issue not required to be answered at this stage as the income is not accrued in these assessment years. The quantum of applicability of Accounting Standard-9 with regard to revenue recognition is not required

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain or as business income, ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore Page 49 of 96 which issue not required to be answered at this stage as the income is not accrued in these assessment years. The quantum of applicability of Accounting Standard-9 with regard to revenue recognition is not required

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain or as business income, ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore Page 49 of 96 which issue not required to be answered at this stage as the income is not accrued in these assessment years. The quantum of applicability of Accounting Standard-9 with regard to revenue recognition is not required

SRI ANJANEYALU PRATHIPATHI,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BENGALURU

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Years: 2012-13

153D dated 29.1.20 16 was passed for assessment year 2014-15 accepting capital gains reported by the assessee. 38. The CIT(A), deleting the penalty observed that since he has confirmed the levy of charging of tax us 2(47)(i) for asst. year 2012-13, as such there is no question of levy of penalty in asst. years

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BANGALORE

section 132A. 50.3 Applicability-These\namendments will take effect from the 1st day of June, 2007.\"\n\n6.2 From the perusal of the section 153D of the Act read with the CBDT\nCircular No. 3 of 2008, dated 12-3-2008, the legislative intent can be gathered\nso far as that the legislature in its highest wisdom made it compulsory

GOPAL S. PANDITH vs. DCIT,

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

Bench: Shri A.K. Garodia & Shri Vijay Pal Rao

Capital Gains. 7. The learned Commissioner of Income tax (Appeals) erred in holding the appellant is not entitled to exemption u/s. 548 of the Act. 8. The ld. Commissioner of Income tax (Appeals) ought to have deleted the addition made on account of sale of Agrl. Land, as was shown in the return of income filed u/s. said transaction

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BENGALURU

153D has been granted\nin a mechanical manner and without application of mind and\nthus it is invalid and bad in law and consequently vitiated the\nassessment order for want of valid approval u/s 153D of the\nAct.\nIn view of the above discussion, we hold that the order passed u/s\n153A r.w.s.43(3) has to be quashed, thus ordered

SHRI VANKADARI CHINNA REDDEPPA CHETTY ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(2)(1) , BANGALORE

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2013-14

section 143(3) proceedings on the income from the same property would be against the principal of estoppel and consistency which has been affirmed in the following rulings: a. Dalmia Promoters Developers (P.) Ltd. (151 Taxman 202) - refer page 1 of the CLC. b. NeoPoly Pack (P.) Ltd. (112 Taxman 363)-refer page 8 of the CLC. c. Man Mohan

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

capital gain earned was as genuine but no heed was given thereon and without carrying any independent inquiry the penalty was imposed solely relying on the statement of applicant. For the purpose of levying penalty u/s 271(1)(c) of the Act, the concealment of income has to be independently established by the other evidences and not on the basis

M/S. MUKKA PROTENIS LIMITED,MANGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL, BANGALORE

In the result, the appeal filed by the assessee stands dismissed

153D speak about "prior approval for assessment in the case of search". The section also provide for obtaining the prior approval Page 14 of the Joint Commissioner for merely passing an order. Therefore, the decision of the (supra) clearly lays down that 'any order passed by the Assessing Officer' can be revised under Section 263 of the Act irrespective

SHRI B K SHIVAPPA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(2), BANGALORE

In the result, the quantum appeal of the assessee for the assessment years from 2008-09 to 2014-15 under consideration is allowed for statistical purposes

Bench: Smt. Beena Pillai & Shri O.P.Meena

153D read with section 144 for A.Y. 2014-15 dated 28.03.2016 and penalty order dated 29.08.2016 for A.Y. 2014-15 passed u/s 271AAB of IT Act,1961 (in short ‘the Act’), by the B.K. Shivappa v. ACIT-CC-1(2) Bangalore/I.T.A.No. 855 to 862/BANG//2019/A.Y.:08-09 to 14-15 Page 2 of 6 Assistant Commissioner of Income Tax, Central

SHRI B K SHIVAPPA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(2), BANGALORE

In the result, the quantum appeal of the assessee for the assessment years from 2008-09 to 2014-15 under consideration is allowed for statistical purposes

Bench: Smt. Beena Pillai & Shri O.P.Meena

153D read with section 144 for A.Y. 2014-15 dated 28.03.2016 and penalty order dated 29.08.2016 for A.Y. 2014-15 passed u/s 271AAB of IT Act,1961 (in short ‘the Act’), by the B.K. Shivappa v. ACIT-CC-1(2) Bangalore/I.T.A.No. 855 to 862/BANG//2019/A.Y.:08-09 to 14-15 Page 2 of 6 Assistant Commissioner of Income Tax, Central

SHRI. KEMPAREDDY GOVINDRAJ,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BENGALURU

153D of the \nAct.\n\n9. Aggrieved from the above Order, assessee filed appeal before \nthe ld. CIT(A) raising the legal issue as well as on merits of the case. \nThe assessee also filed written submissions on 28.01.2022 in detail \nwhich has been incorporated by the CIT(A) in his Order at Para No.6 \nfrom page

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(3), BENGLAURU vs. SHRI KEMPAREDDY GOVINDRAJU, DOMLUR, BENGALURU

In the result the appeals of the assessee in ITA No’s 1022 to 1024/ Bang/ 2024, for the Assessment Years 2014-15, 2015-16 and 2016-17 are allowed and the appeals of the Revenue in ITA Nos

Bench: Shri Laxmi Prasad Sahu & Shri Soundarajan K

153D of the Act. 9. Aggrieved from the above Order, assessee filed appeal before the ld. CIT(A) raising the legal issue as well as on merits of the case. The assessee also filed written submissions on 28.01.2022 in detail which has been incorporated by the CIT(A) in his Order at Para No.6 from page

MR. AMARTHYA SIDDHARTHA L/R OF LATE SRI. V G SIDDHARTHA ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

153D of the Act. 2.1 During the pendency of the assessment proceeding, Shri V.G. Sidhartha died as on 29th July 2019. In the assessment proceedings, several notices and show cause notices etc were issued which were replied by the legal heirs of late Shri V.G. Sidhartha. Finally, the AO came to finalized the assessment order for respective assessment years

MR. ISHAAN HEGDE L/R OF LATE SRI. V G SIDDHARTHA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOMER TAX, CENTRAL CIRCLE-1(3), BANGALORE

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

153D of the Act. 2.1 During the pendency of the assessment proceeding, Shri V.G. Sidhartha died as on 29th July 2019. In the assessment proceedings, several notices and show cause notices etc were issued which were replied by the legal heirs of late Shri V.G. Sidhartha. Finally, the AO came to finalized the assessment order for respective assessment years

MR. ISHAAN HEGDE L/R OF LATE SRI. V G SIDDHARTHA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

153D of the Act. 2.1 During the pendency of the assessment proceeding, Shri V.G. Sidhartha died as on 29th July 2019. In the assessment proceedings, several notices and show cause notices etc were issued which were replied by the legal heirs of late Shri V.G. Sidhartha. Finally, the AO came to finalized the assessment order for respective assessment years