SHRI K.G SUBBARAMA SETTY ,BANGALORE vs. ACIT 5(2)(1) BANGALORE, C R BUILDING

In the result all the three appeals in ITA Nos

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

207/- Less: Exemption claimed u/s. 54EC 50,00,000 Net Capital Gains on sale of villas for FY 20-21 4,92,69,179 As the assessee had declared a capital gains of Rs.4,74,72,475 in the ITR filed for AY 2021-22, therefore the additional capital gains ITA Nos.962 & 963/Bang/2025 K.S. Akhilesh Babu ITA No.964/Bang/2025 K.A. Sujith

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

Capital Year cost/year expenses cost of gain improv- ement Sale of 5325000 199695 0 0 5125305 0 agricultural (20/01/2009) (6/8/1993) land Total 5325000 199695 0 0 5125305 0 Sale of Agricultural land – Cost : 83721*(582/244) = 199695 Exempt U/S : 5325000 10.2 Later the AO issued a Questionnaire on 8.1.2014 seeking details of property sold during the FY 2008-09 as follows

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

Capital Year cost/year expenses cost of gain improv- ement Sale of 5325000 199695 0 0 5125305 0 agricultural (20/01/2009) (6/8/1993) land Total 5325000 199695 0 0 5125305 0 Sale of Agricultural land – Cost : 83721*(582/244) = 199695 Exempt U/S : 5325000 10.2 Later the AO issued a Questionnaire on 8.1.2014 seeking details of property sold during the FY 2008-09 as follows

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

Capital Year cost/year expenses cost of gain improv- ement Sale of 5325000 199695 0 0 5125305 0 agricultural (20/01/2009) (6/8/1993) land Total 5325000 199695 0 0 5125305 0 Sale of Agricultural land – Cost : 83721*(582/244) = 199695 Exempt U/S : 5325000 10.2 Later the AO issued a Questionnaire on 8.1.2014 seeking details of property sold during the FY 2008-09 as follows

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

Capital Year cost/year expenses cost of gain improv- ement Sale of 5325000 199695 0 0 5125305 0 agricultural (20/01/2009) (6/8/1993) land Total 5325000 199695 0 0 5125305 0 Sale of Agricultural land – Cost : 83721*(582/244) = 199695 Exempt U/S : 5325000 10.2 Later the AO issued a Questionnaire on 8.1.2014 seeking details of property sold during the FY 2008-09 as follows

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 Year cost/year expenses cost of gain improv- ement Sale of 5325000 199695 0 0 5125305 0 agricultural (20/01/2009) (6/8/1993) land Total 5325000 199695 0 0 5125305 0 Sale of Agricultural land – Cost : 83721*(582/244) = 199695 Exempt U/S : 5325000 10.2 Later the AO issued a Questionnaire on 8.1.2014 seeking details of property sold during the FY 2008-09 as follows

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 Year cost/year expenses cost of gain improv- ement Sale of 5325000 199695 0 0 5125305 0 agricultural (20/01/2009) (6/8/1993) land Total 5325000 199695 0 0 5125305 0 Sale of Agricultural land – Cost : 83721*(582/244) = 199695 Exempt U/S : 5325000 10.2 Later the AO issued a Questionnaire on 8.1.2014 seeking details of property sold during the FY 2008-09 as follows

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as offered by the appellant is to be accepted. The appellant denies the liability to pay interest u/s 234A 8. and 234B of the Act. The interest levied being wholly erroneous is to be deleted. 9. In view of the above and on other grounds to be adduced at the time of hearing it is requested that

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as offered by the appellant is to be accepted. The appellant denies the liability to pay interest u/s 234A 8. and 234B of the Act. The interest levied being wholly erroneous is to be deleted. 9. In view of the above and on other grounds to be adduced at the time of hearing it is requested that

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as offered by the appellant is to be accepted. The appellant denies the liability to pay interest u/s 234A 8. and 234B of the Act. The interest levied being wholly erroneous is to be deleted. 9. In view of the above and on other grounds to be adduced at the time of hearing it is requested that

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as offered by the appellant is to be accepted. The appellant denies the liability to pay interest u/s 234A 8. and 234B of the Act. The interest levied being wholly erroneous is to be deleted. 9. In view of the above and on other grounds to be adduced at the time of hearing it is requested that

K. G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as offered by the appellant is to be accepted. The appellant denies the liability to pay interest u/s 234A 8. and 234B of the Act. The interest levied being wholly erroneous is to be deleted. 9. In view of the above and on other grounds to be adduced at the time of hearing it is requested that

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as offered by the appellant is to be accepted. The appellant denies the liability to pay interest u/s 234A 8. and 234B of the Act. The interest levied being wholly erroneous is to be deleted. 9. In view of the above and on other grounds to be adduced at the time of hearing it is requested that

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

capital gains was offered. The learned CIT[A] also held that the facts and circumstances of the appellant's case do not support the claim of deduction u/s.54F of the Act, for not only in not filing the return but Page 7 of 37 also in the absence of meeting the stipulated conditionality required to claim deduction

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, MANGALURU vs. ALAKANANDA PRINTERS (P) LTD, MANGALURU

In the result, appeal filed by the Revenue is allowed for statistical purposes and CO filed by the assessee in support of the Order of the CIT(A)

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyassessment Year : 2015-16

capital gain in the Assessment Year 207-18 and possession of land handed over to the developer on 12.10.2016. Pursuant to the search, notice under section

SRI AKBER AYUB ,BANGALORE vs. INCOME TAX OFFICER WARD-5(2)(3), BANGALORE

In the result, the assessee’s appeal for asst

Bench: Shri Vijaypal Rao & Shri Jason P Boazsri Akber Ayub, No.04, Skyline Chalet, Dewan Madhavrao Road, Opp. Krishnarao Park, Bengaluru. . Appellant Vs. The Income-Tax Officer, Ward-5(2)(3), Bengaluru. . Respondent Pan - Abopa2599R. Appellant By : Shri P Dinesh, Advocate Respondent By : Shri M.K Biju, Jcit

capital gains (‘LTCG’) on sale of property at Rs.64,00,526/- as against Nil LTCG declared by the assessee and thereby denied the assessee the exemption claimed u/s 54EC of the Act. 2.2 Aggrieved by the order of assessment dated 17/2/2016 for asst. year 2013-14, the assessee preferred an appeal before the CIT(A)-5, Bangalore on the issue

SHRI.SURESH NAGARAJA RAO KESTUR ,BANGALORE vs. THE INCOME TAX OFFICER WARD-5(3)(3), BANGALORE

In the result appeal filed by assessee stands allowed for statistical purposes

Bench: Shri B.R Baskaran & Smt. Beena Pillaiassessment Year : 2013-14

section 54F in respect of capital gains earned on the sale of original asset. 3.3 Assessee submitted that there was no irregularity of transactions of purchase and sale by assessee and that this was the only solitary transaction entered into by assessee. Further, it was submitted that the co-owners were relatives of assessee, all of them were salaried people

MRS.KAVITA TIWARI,BANGALORE vs. INCOME TAX OFFICER, BANGALORE

In the result, the assessee’s appeal for asst

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boazmrs. Kavita Tiwari, D-202, Adarsh Residency, 8Th Block, Jayanagar, Sangam Circle, Bengaluru. . Appellant Vs. The Income-Tax Officer, Ward-4(4), Bengaluru. . Respondent Pan – Acvpt1583G. Appellant By : Shri R.E Balasubramaniam, C.A Respondent By : Shri M.K Biju, Jcit Date Of Hearing : 16-08-2017 Date Of Pronouncement : -10-2017 O R D E R

207/- from rent, interest ITA No.1916/B/16 2 and capital gains. The return was processed u/s 143(1) of the Income- tax Act, 1961 (in short ‘the Act’) and the case was subsequently taken up for scrutiny. The assessment was completed u/s 143(3) of the Act vide order dated 19/3/2014, wherein the assessee’s income was determined at Rs.1

M C SATHYANARAYANA GOWDA,BANGALORE vs. ITO, BANGALORE

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

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoshri M.C.Sathyanarayana Gowda, By L/R Smt.Bindu Latha, No.59, Sunkenahalli Main Road, Bull Temple Road, Bengaluru-560019. … Appellant Pan:Agipg 5272 G Vs. Income-Tax Officer, Ward 5(4), Bengaluru. … Respondent

section 2(47) and assessed to Capital gains by adopting cost of construction of the share of built up area as a consideration and computed short term capital gains and brought to tax. Page 4 of 6 4. Being aggrieved, an appeal was preferred before the ld.CIT(A) who, vide impugned order, after calling for remand report from the Assessing