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

section 153C are bad in law. Reliance is placed on the following rulings:- a. CIT v. Sinhgad Technical Education Society (84 taxmann.com 290); b. CIT v. RRJ Securities Ltd. (62 taxmann.com 391) (Del); c. CIT v. IBC Knowledge Park (69 taxmann.com 108) (Kar); d. CIT v. Veerprabhu Marketing Ltd. (73 taxmann.com 149)(Kar); e. Pr. CIT v. Allied Perfumers

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

section 153C are bad in law. Reliance is placed on the following rulings:- a. CIT v. Sinhgad Technical Education Society (84 taxmann.com 290); b. CIT v. RRJ Securities Ltd. (62 taxmann.com 391) (Del); c. CIT v. IBC Knowledge Park (69 taxmann.com 108) (Kar); d. CIT v. Veerprabhu Marketing Ltd. (73 taxmann.com 149)(Kar); e. Pr. CIT v. Allied Perfumers

SRI ALAGAPPA ANNAMALAI(HUF),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(4), BANGALORE

Bench: Shri Chandra Poojari & Shri Soundararajan K.Sri Alagappa Muthiah (Huf) 34, 8Th Main, 4Th Cross Rajamahal Vilas Extension Bangalore 560 080 Pan No: Aaaha3885P Appellant

290 17,49,200 17,49,200 40,000 40,000 Survey charges Evaluation and speculation of JD JD Agreement Design and inspection 11,251 1,05,150 45,00,000 5,61,800 [C] 1,12,92,691 Total Long Term Capital Gains 1/2 Share of assessee in Total Long Term Capital Gains

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(4), BENGALURU vs. ALAGAPPA ANNAMALAI (HUF), BENGALURU

Bench: Shri Chandra Poojari & Shri Soundararajan K.Sri Alagappa Muthiah (Huf) 34, 8Th Main, 4Th Cross Rajamahal Vilas Extension Bangalore 560 080 Pan No : Aaана3885P Appellant

290 17,49,200 17,49,200 40,000 40,000 ITA Nos.775 & 954/Bang/2024 Sri Alagappa Muthiah (HUF), Bangalore ITA Nos.776 & 955/Bang/2024 Sri Alagappa Annamalai (HUF), Bangalore Page 6 of 34 Survey charges Evaluation and speculation of JD JD Agreement Design and inspection

SRI ALAGAPPA MUTHIAH(HUF),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-2(4), BANGALORE

Bench: Shri Chandra Poojari & Shri Soundararajan K.Sri Alagappa Muthiah (Huf) 34, 8Th Main, 4Th Cross Rajamahal Vilas Extension Bangalore 560 080 Pan No: Aaана3885P Appellant

290 17,49,200 40,000 Survey charges Evaluation and speculation of JD JD Agreement Design and inspection 11,251 1,05,150 45,00,000 5,61,800 11,251 1,05,150 45,00,000 5,61,800 [C] 1,12,92,691 1,12,92,691 Total Long Term Capital Gains 1/2 Share of assessee in Total

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, appeals filed by the assessee are partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

2) NA of the Act expired on 31.03.2017 c. It can be seen from the above, that the A.Ys. 2013-14 to 2016-17 are unabated assessment years for the purpose of proceedings under section 153A of the Act. Further, for the A.Ys. 2013-14 and 2015-16, the department had initiated proceedings under section

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-2(2), BENGALURU

In the result, appeals filed by the assessee are partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

2) NA of the Act expired on 31.03.2017 c. It can be seen from the above, that the A.Ys. 2013-14 to 2016-17 are unabated assessment years for the purpose of proceedings under section 153A of the Act. Further, for the A.Ys. 2013-14 and 2015-16, the department had initiated proceedings under section

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, appeals filed by the assessee are partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

2) NA of the Act expired on 31.03.2017 c. It can be seen from the above, that the A.Ys. 2013-14 to 2016-17 are unabated assessment years for the purpose of proceedings under section 153A of the Act. Further, for the A.Ys. 2013-14 and 2015-16, the department had initiated proceedings under section

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX OFFICER, CENTRAL CIRCLE-2(2), BENGALURU

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

2) | of the Act expired on | 31.03.2017 | NA C. It can be seen from the above, that the A.Ys.2013-14 to 2016-17 are unabated assessment years for the purpose of proceedings under section 153A of the Act. Further, for the A.Ys.2013-14 and 2015-16, the department had initiated proceedings under section

M/S. IBM INDIA PVT. LTD.,,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-4(1)(2), BENGALURU

In the result appeal filed by assessee stands partly allowed

Bench: Shri. B. R. Baskaran & Smt. Beena Pillai

290/- and claimed deduction under section 10AA amounting to Rs.303,16,58,824,. Ld.AO noted that assessee computed MAT u/s.115JB, payable at Rs.363,67,96,390/-. 2.1 Ld.AO passed draft assessment order making various additions under Transfer Pricing issue as proposed by Ld.TPO and corporate tax issues in the hands of assessee. IT(TP)A No.725/Bang/2018 Asst.Yr

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2) , BENGALURU

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

2) of the Act expired on 31.03.2017 NA C. It can be seen from the above, that the A.Ys.2013-14 to 2016-17 are unabated assessment years for the purpose of proceedings under section 153A of the Act. Further, for the A.Ys.2013-14 and 2015-16, the department had initiated proceedings under section

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2) , BENGALURU

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

2) of the Act expired on 31.03.2017 | NA C. It can be seen from the above, that the A.Ys.2013-14 to 2016-17 are unabated assessment years for the purpose of proceedings under section 153A of the Act. Further, for the A.Ys.2013-14 and 2015-16, the department had initiated proceedings under section

ACIT, BANGALORE vs. M/S K. MOHAN & COMPANY (EXPORTS) PVT. LTD.,, BANGALORE

In the result, ITA 1057/B/12 is partly allowed and ITA 1103/B/12 is dismissed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

capital loan, the assessee had to enter into a currency swap arrangement. The ITA Nos. 1093/B0/09, 1266/B/10 & 1057 & 1103/B/12 Page 8 of 50 assessee entered into currency swap transaction in respect of outstanding foreign currency loans as per the prevailing RBI guidelines. The currency swap transaction on settlement resulted in a loss of Rs.6.05 crores. The question before the Tribunal

M/S K. MOHAN & COMPANY (EXPORTS) PRIVATE LIMITED,BANGALORE vs. ACIT, BANGALORE

In the result, ITA 1057/B/12 is partly allowed and ITA 1103/B/12 is dismissed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

capital loan, the assessee had to enter into a currency swap arrangement. The ITA Nos. 1093/B0/09, 1266/B/10 & 1057 & 1103/B/12 Page 8 of 50 assessee entered into currency swap transaction in respect of outstanding foreign currency loans as per the prevailing RBI guidelines. The currency swap transaction on settlement resulted in a loss of Rs.6.05 crores. The question before the Tribunal

M/S. K. MOHAN & COMPANY (EXPORTS) PVT. LTD.,,BANGALORE vs. ACIT, BANGALORE

In the result, ITA 1057/B/12 is partly allowed and ITA 1103/B/12 is dismissed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

capital loan, the assessee had to enter into a currency swap arrangement. The ITA Nos. 1093/B0/09, 1266/B/10 & 1057 & 1103/B/12 Page 8 of 50 assessee entered into currency swap transaction in respect of outstanding foreign currency loans as per the prevailing RBI guidelines. The currency swap transaction on settlement resulted in a loss of Rs.6.05 crores. The question before the Tribunal

M/S K. MOHAN & COMPNAY (EXPORTS) PVT. LTD.,,BANGALORE vs. ACIT, BANGALORE

In the result, ITA 1057/B/12 is partly allowed and ITA 1103/B/12 is dismissed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

capital loan, the assessee had to enter into a currency swap arrangement. The ITA Nos. 1093/B0/09, 1266/B/10 & 1057 & 1103/B/12 Page 8 of 50 assessee entered into currency swap transaction in respect of outstanding foreign currency loans as per the prevailing RBI guidelines. The currency swap transaction on settlement resulted in a loss of Rs.6.05 crores. The question before the Tribunal

M/S. S I MEDIA LLP, ,BENGALURU vs. DCIT, CIRCLE-1(1)(1), BENGALURU

In the result appeal of the assessee allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Soundararajan Kassessment Year: 2021-22

290 days in filing the appeal. Accordingly, we proceed to adjudicate the matter on merits. 5. The only issue raised by the assessee is that the learned CIT(A) erred in confirming the disallowance of the indexed cost of interest of ₹2,51,20,901 claimed on the borrowed money utilized for acquiring the capital asset against the capital gain

SRI NEKKUNDI MUNIREDDY THULASIRAM,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 4(3)(1), BANGALORE

Bench: Shri N V Vasudevan & Shri A K Garodiaassessment Year : 2012-13

capital gain on sale of the flat has to be computed in accordance with the provisions of section 48 of the Act. The facts which we notice in this regard from the statements filed by the assessee before the CIT(Appeals) is that the flat which was sold by the assessee during the previous year was acquired by the assessee