MR K. P. MANJUNATHA REDDY,BANGALORE vs. THE INCOME TAX OFFICER, WARD 4(3)(2), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2014-15

gains which arose on the sale of the said lands was wrongly offered in the original return in as much as the same was exempt from tax being agricultural lands and hence excluded from the definition of 'capital asset' as per the provisions of s. 2 (14)(iii) of the Act. Mr. K.P. Manjunatha Reddy, Bangalore Page

M/S PRESTIGE ESTATES PROJECTS LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-18(1), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri N.V.Vasudevan, Vp & Shri Chandra Poojari, Am

vi) Consideration should not be less than less than 50 lakh rupees. 8 M/s.Prestige Estates Projects Limited. 3.11 The learned AR submitted that on the basis of the reasons that follow that the conclusion of the A.O. that the refundable security deposit constitutes consideration for transfer of immovable property is incorrect. The refundable deposit does not constitute consideration for transfer

SHRI BINDIGANAVALE RAVI ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-5(2)(1), BANGALORE

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2015-16

24,000 vide sale deed dated 23.06.2014 and computed the long term capital gain at Rs. 41,08,845 and offered the same for taxation. The property sold was an apartment constructed by Brigade Enterprises Pvt Ltd. in pursuance of the agreement executed on 29.06.2006 Subsequently a sale deed was executed on 17.05.2010 In Accordance with the agreement dated

M/S. ABB LTD.,,BANGALORE vs. THE ADDL. CIT, BANGALORE

In the result appeal by the Assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz Assessment Year : 1997-98

section 55 (2)(a) words ‘trade mark or brand name associated with the business’ was introduced. The amendment does have prospective operation. The Hon’ble Bombay High Court upheld the view of the Tribunal. 21. The learned DR submitted that the AO in the proceedings after the order of the Tribunal remanding the issue on taxability of receipt on transfer

K S HANUMANTHA RAO,BANGALORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, BENGALURU-2, BANGALORE

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

Bench: Shri George George K

vi) have been inserted in Section 2(47) to prevent avoidance of capital gains liability by recourse to transfer of rights in the manner referred to above. A person holding the Power of Attorney is authorized the powers of owner, including that of making construction though the legal ownership in such cases continues to be with the transferor. The intention

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

24. The ld. AR submitted that the above principles are squarely covered by the ruling of the SC in Balbir Singh Maini (398 ITR 531). The following rulings also support this proposition:- ITA Nos.752 to 755/Bang/2019 Page 28 of 79 a. CIT v. City Lubricants Ltd. (129 taxmann.com 267); Madras HC; b. Seshasayee Steels

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

24. The ld. AR submitted that the above principles are squarely covered by the ruling of the SC in Balbir Singh Maini (398 ITR 531). The following rulings also support this proposition:- ITA Nos.752 to 755/Bang/2019 Page 28 of 79 a. CIT v. City Lubricants Ltd. (129 taxmann.com 267); Madras HC; b. Seshasayee Steels

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

24. The ld. AR submitted that the above principles are squarely covered by the ruling of the SC in Balbir Singh Maini (398 ITR 531). The following rulings also support this proposition:- ITA Nos.752 to 755/Bang/2019 Page 28 of 79 a. CIT v. City Lubricants Ltd. (129 taxmann.com 267); Madras HC; b. Seshasayee Steels

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

24. The ld. AR submitted that the above principles are squarely covered by the ruling of the SC in Balbir Singh Maini (398 ITR 531). The following rulings also support this proposition:- ITA Nos.752 to 755/Bang/2019 Page 28 of 79 a. CIT v. City Lubricants Ltd. (129 taxmann.com 267); Madras HC; b. Seshasayee Steels

SRI. KEMPANNA (HUF - DISRUPTED),BANGALORE vs. DCIT, BANGALORE

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

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodiaassessment Year : 2006-07

section 143(2) on the basis of the aforesaid return which was non-est in law. The ratio decidendi of this judgement is that the AO is not required to issue notice u/s 143(2) at all, in a case where the assessee filed the return beyond the time limit prescribed for furnishing such return. It follows from this judgement

VAIDYA SRIKANTAPPA SADASHIVAIAH SRIKANTH,BANGALORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, BANGALORE- 1, , BANGALORE

Bench: Shri Chandra Poojari & Shri Keshav Dubey

capital gain arised out of this transaction. Accordingly, he gave direction to the ld. AO to examine the claim made by the assessee as compulsory acquisition under Right to Fair Compensation and Transparency in the Land Acquisition, Rehabilitation and Resettlement Act, 2013. In our opinion, the property has been acquired under KIADB Act, 1966 for Metro vide its notification work

SMT. SAVITRI KADUR,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, BANGALORE

In the result, the appeal of the assessee is allowed to the extent indicated above

Bench: Shri N.V. Vasudevan & Shri Jason P Boazassessment Year : 2008-09

vi), "immovable property" shall have the same meaning as in clause (d) of section 269UA; 9. Capital asset has been defined in section 2(14) of the Act, as meaning "Property" of any kind held by the assessee, whether or not connected with his business or profession. The above exhaustive definition is subject to the following exclusions like stock

M/S FUTURISTIC DIAGNOSTIC IMAGING CENTRE PRIVATE LIMITED ,BANGALORE vs. THE INCOME TAX OFFICER WARD-2(3)(4), BANGALORE

In the result the appeal filed by assessee stands dismissed

24,156 as per Original return filed by the Appellant as against a TDS of Rs.53,62,080 as per 26AS. Hence the difference in TDS of Rs.14,37,924 deserves to be allowed by lifting the restriction imposed. 4. The Learned Authorities Below ought not to have charged interest under section 234 B on the tax resulting from

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

24 of 82 retrospective notwithstanding the fact that the amendment has been given effect prospectively. The above principles, if applied to the amendment to the provisions of Sec.153C of the Act by the Finance Act, 2014, can lead to only one conclusion that the said amendment is clarificatory and therefore should be held to be retrospective in operation

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

24 of 82 retrospective notwithstanding the fact that the amendment has been given effect prospectively. The above principles, if applied to the amendment to the provisions of Sec.153C of the Act by the Finance Act, 2014, can lead to only one conclusion that the said amendment is clarificatory and therefore should be held to be retrospective in operation

SHRI BHATKAL RAMARAO PRAKASH ,BANGALORE vs. INCOME TAX OFFICER WARD-5(2)(3), BANGALORE

In the result, the appeal by the Assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2015-16

vi) have been inserted in Section 2(47) to prevent avoidance of capital gains liability by recourse to transfer of rights in the manner referred to above. A person holding the Power of Attorney is authorized the powers of owner, including that of making construction though the legal ownership in such cases continues to be with the transferor. The intention

M/S ATRIA POWER CORPROATION LTD.,,BANGALORE vs. ITO, BANGALORE

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Sunil Kumar Yadav & Shri A.K. Garodiaassessment Year : 2010-11

gains attributable to revaluation of the asset is not subject to MAT liability. It is, therefore, proposed to amend section 115JB to provide that the book profit for the purpose of section 115JB shall be increased by the amount standing in the revaluation reserve relating to the revalued asset which has been retired or disposed, if the same

INCOME TAX OFFICER WARD-1(1)(2), BANGALORE vs. M/S ATRIA HYDEL POWER LIMITED , BANGALORE

In the result, ITA Nos.534 to 556/Bang/2018 and CO Nos

Bench: Shri N. V. Vasudevan & Shri Jason P. Boazassessment Years : 2010-11 Income-Tax Officer, Vs. M/S. Atria Hydel Power Ltd., Ward - 1(1)(2), #1, Palace Road, Bengaluru. Bangalore-560 001. Pan : Aacca 3754 E Appellant Respondent

gains attributable to revaluation of the asset is not subject to MAT liability. It is, therefore, proposed to amend section 115JB to provide that the book profit for the purpose of section 115JB shall be increased by the amount standing in the revaluation reserve relating to the revalued asset which has been retired or disposed, if the same