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

The appeals of the assessees are allowed\nand revenue appeals are dismissed

200\n40,000\n40,000\nITA Nos.775 & 954/Bang/2024\nSri Alagappa Muthiah (HUF), Bangalore\nITA Nos.776 & 955/Bang/2024\nSri Alagappa Annamalai (HUF), Bangalore\nPage 6 of 34\nSurvey charges\nEvaluation and speculation of JD\nJD Agreement\nDesign and inspection

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

In the result, both the appeals of the assessees are allowed\nand revenue appeals are dismissed

200\n40,000\n40,000\nSurvey charges\nEvaluation and speculation of JD\nJD Agreement\nDesign and inspection\n11,251\n1,05,150\n45,00,000\n5,61,800\n[C]\n1,12,92,691\nTotal Long Term Capital Gains\n1/2 Share of assessee in Total Long\nTerm Capital Gains

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BENGALURU, BENGALURU vs. CANARA BANK, BENGALURU

In the result, appeal of the revenue in ITA No

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessmentyear: 2017-18

capital gain tax can be levied. " 53. Concluded at page 12 para 21 as under: "27. In the result, we hold that sub-section 115JB as it stood prior to its amendment by virtue of Finance Act, 2012, would not be applicable to a banking company. We answer the question No. 2 in favour of the assessee and against

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

In the result, both the appeals of the assessees are allowed\nand revenue appeals are dismissed

200\n40,000\nSurvey charges\nEvaluation and speculation of JD\nJD Agreement\nDesign and inspection\n11,251\n1,05,150\n45,00,000\n5,61,800\n11,251\n1,05,150\n45,00,000\n5,61,800\n[C]\n1,12,92,691\n1,12,92,691\nTotal Long Term Capital Gains\n1/2 Share of assessee in Total Long\nTerm

M/S HIRSCH BRACELET INDIA PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3(1)(2), BANGALORE

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

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year : 2015-16

section 71 of the Act), returned a total taxable Income of Rs. 2,59,15,640. 10. In the assessment proceedings, the assessee claimed that the sale of the leasehold rights over the land that was sold gave rise to long term capital gain (LTCG). That the sale of building was taxable as short term capital gain (STCG

TATA ELXSI LIMITED ,BANGALORE vs. DEPUTY COMMISIONER INCOMER TAX, CIRCLE-7(1)(1), BANGALORE

Accordingly, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Narender Kumar Choudhry & Shri Laxmi Prasad Sahuassessment Year : 2018-19 M/S. Tata Elxsi Ltd., The Deputy 126, Itpb Road, Commissioner Hoody, Of Income Tax, Whitefield, Circle – 7(1)(1), Bangalore – 560 048. Bangalore. Vs. Pan: Aaact7872Q Appellant Respondent

200/-. Subsequently, the case was selected for scrutiny and statutory notices were issued to the assessee. The assessee submitted the reply. From the documents, it was noticed that the assessee company is engaged in the business of export of software services and providing design and technology services for product engineering and solutions across industries including broadcast, communications Page

M/S. LIFE INSURANCE CORPORATION OF INDIA,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley

M/S. LIFE INSURANCE CORPORATION OF INDIA,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley

M/S. LIFE INSURANCE CORPORATION OF INDIA,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley

M/S. LIFE INSURANCE CORPORATION OF INDIA,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley

M/S. LIFE INSURANCE CORPORATION OF INDIA,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley

M/S. LIFE INSURANCE CORPORATION OF INDIA,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley

M/S. LIFE INSRANCE CORPORATION OF INDIA,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley

M/S. LIFE INSURANCE CORPORATION OF INDIA ,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley

M/S. LIFE INSURANCE CORPORATION OF INDIA,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley

M/S. LIFE INSURANCE CORPORATION OF INDIA,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley

M/S. LIFE INSURANCE CORPORATION OF INDIA,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley

M/S. LIFE INSURANCE CORPORATION OF INDIA,THIRTHAHALLI vs. THE INCOME TAX OFFICER (TDS) WARD, DAVANGERE

In the result, the appeals filed by the assessee stands allowed for assessment years 2011-12 to 2014-15 on the legal issue and the appeals for assessment years 2015-

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

200(Bang.Trib.) • CIT v. Nicholas Piramal India Ltd., reported in (2008) 169 Taxman 233 (Bom.); • CIT v. Semiconductor Complex Ltd.. reported in (2007) 160 Taxman 384 (Punj. & Har.) • CIT v. HCL Info System Ltd. (2005) 146 Taxman 227 (Delhi) • CIT v. Oil and Natural Gas Corpn. Ltd. (2002) 254 ITR 121/125 Taxman 698 Guj) • ITO v. Gujarat Narmada Valley