K A SUJIT CHANDAN,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE BENGALURU.-5(2)(1), BENGALURU

In the result all the three appeals in ITA Nos

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

section 23(1)(c) of the Act. We are also of the ITA Nos.962 & 963/Bang/2025 K.S. Akhilesh Babu ITA No.964/Bang/2025 K.A. Sujith Chandan ITA No.965/Bang/2025 K.G. Subbarama Setty Page 20 of 33 considered opinion that in case the property is vacant because of inability of the assessee to let out or sale due to the pandemic, then the notional rent

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

23 of 34\n- 18 -\naccrued in favour of assessee after receiving the\npossession of the property, certainly that would also be\nsubject to capital gains.” It is thus clear that in the\nevent the assessee were to dispose of the built up area,\non any part thereof, after receipt of the same from the\ndeveloper, it would have

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

gain arising out\nof the impugned property vide JDA dated 10.02.2011 to be taxed in\nthe assessment year 2018-19 only. Ordered accordingly.\n8.\nIn the result, both the appeals of the assessees in ITA\nNos.775 & 776/Bang/2024 are allowed.\n9. Now we will take up revenue's appeals in ITA Nos.954 &\n955/Bang/2024 for the AY 2017-18. The grounds which

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

gain arising out\nof the impugned property vide JDA dated 10.02.2011 to be taxed in\nthe assessment year 2018-19 only. Ordered accordingly.\n8. In the result, both the appeals of the assessees in ITA\nNos.775 & 776/Bang/2024 are allowed.\n9. Now we will take up revenue's appeals in ITA Nos.954 &\n955/Bang/2024 for the AY 2017-18. The grounds

NAVJYOTI SHARMA,BANGALORE vs. DCIT ASMNT, BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

capital gain as computed by the assessee amounting to Rs.36,64,791/-. The only dispute in this case is with regard to claim of deduction u/s. 54 of the Act amounting to Rs.36,64,791/-. The assessee along with his wife Mrs. Lovita Phukan had executed the agreement of purchase for a consideration Rs. 32,14,200/- and construction agreement

M/S. OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain computation. The ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 4 of 23 CIT(A) dismissed the assessee’s appeal for AY 2007-08 by upholding the addition made towards undisclosed profits from sale of mutual funds. 7. Before the CIT(Appeals), the assessee had raised a legal contention that the AO has assumed jurisdiction u/s. 153C without

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE vs. M/S OLIVIYA APPARELS PRIVATE LIMITED, BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain computation. The ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 4 of 23 CIT(A) dismissed the assessee’s appeal for AY 2007-08 by upholding the addition made towards undisclosed profits from sale of mutual funds. 7. Before the CIT(Appeals), the assessee had raised a legal contention that the AO has assumed jurisdiction u/s. 153C without

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE vs. M/S OLIVIYA APPARELS PRIVATE LIMITED, BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain computation. The ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 4 of 23 CIT(A) dismissed the assessee’s appeal for AY 2007-08 by upholding the addition made towards undisclosed profits from sale of mutual funds. 7. Before the CIT(Appeals), the assessee had raised a legal contention that the AO has assumed jurisdiction u/s. 153C without

M/S OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain computation. The ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 4 of 23 CIT(A) dismissed the assessee’s appeal for AY 2007-08 by upholding the addition made towards undisclosed profits from sale of mutual funds. 7. Before the CIT(Appeals), the assessee had raised a legal contention that the AO has assumed jurisdiction u/s. 153C without

M/S OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain computation. The ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 4 of 23 CIT(A) dismissed the assessee’s appeal for AY 2007-08 by upholding the addition made towards undisclosed profits from sale of mutual funds. 7. Before the CIT(Appeals), the assessee had raised a legal contention that the AO has assumed jurisdiction u/s. 153C without

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BELLARY, CENTRAL CIRCLE, BELLARY vs. M/S VIRGO PROPERTIES PRIVATE LIMITED, CHENNAI

In the result, appeal filed by the Revenue is dismissed

23,5/1*852/519). 11 this is considered the conect long tem capital gom\nworked out to Rs.17,08,91,754/-.\nSale Consideration\nLESS: Cost of Acquisition\nLong term Capital Gain\nRs.23,05,21,200/-\nRs.5,06,20,116/-\nRs.17,08,91,754/-\nAs the assessee had sold vacant land only, the indexation benefit availed towards\ncost of improvement

NAGAMMA,RAICHUR vs. INCOME TAX OFFICE-WARD 1, RAICHUR

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

Gains of Rs.2,87,28,750/- before claiming exemption\nunder Section 54B and 54F of the Act. During the course of assessment proceedings\nthe assessee's representative was asked to substantiate the claim made for exemption\nunder section 54B and 54F of the Act. In reply the assessee stated in the year 2005\ni.e. on 31.3.2005 a sum of Rs.31

JAYANTILAL BHAGWANCHAND,BENGALURU vs. INCOME TAX OFFICER, WARD-5(2)(4), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri George George K & Shri Waseem Ahmedassessment Year : 2011-12

section 10(38) of the Act, including the capital gain of Rs. 10,86,720/- on account of sale of shares of M/s Comfort Intech Ltd. The AO found that . Page 3 of 19 the assessee claimed to have purchased 4000 shares of impugned company M/s Comfort Intech Ltd on 14th March 2005 in offline mode through the broker namely

DCIT, CC-2(1), BENGALURU, BENGALURU vs. CHAITANYA PROPERTIES PVT LTD, BENGALURU

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2011-12

23-05-2022, reversed the order of the learned CIT(A) on technical grounds, restoring the validity of the assessment order passed under section 143(3) read with section 153C of the Act. 8. On the merits of the case, the Bench, while addressing the issue of business income and capital gains

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

23,503/- towards payment of advance tax and TDS. A search was conducted in the case of Bharath Beedi Works Pvt. Ltd., on 26.02.2020. During the course of search, a Joint Development Agreement (JDA) was found. In the said JDA, the assessee is one of the co-owners of land under joint development. In the JDA, there were seven

NABHIRAJ RATNA BALRAJ BY LEGAL HEIR B.R.RAKESH,BANGALORE vs. INCOME-TAX OFFICER, WARD-7(2)(1), BANGALORE

In the result the appeal of the assessee is allowed

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2016-17

capital gains under this anti-avoidance provision. It is a case of a curative amendment to take care of unintended consequences of the scheme of section 50C. xi. Parliament has introduced third proviso in section 50C(1) of the Act, as per which the difference in stamp duty valuation and actual consideration should be ignored, if it is less than

BINDUMALYAM PANDURANGA ALLANHARINARAYAN ,BANGALORE vs. INCOME TAX OFFICER, WARD-5(2)(1), BENGALURU

In the result, appeal filed by the assessee is partly\nallowed

23,126 received from the tenant State Bank of India was\nassessable under the head income from house property.\n13,47,060\n5.\nThe CIT(A) erred in holding that section 44AD does not apply\nto the maintenance charges received from State Bank of India.\n13,47,060\n6.\nWithout prejudice, the Appellant's claim seeking deduction of\nall expenses

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

capital gains and income from other sources. Insofar as income under the head 'profits and gains of business or professions' is concerned, provisions thereto are contained in Sections 28 to 44DB of the Act. Section 28 specifies various incomes which shall be chargeable to income tax under this head. Thereafter, Section 29 provides that income referred to in Section

M/S. TATA ELXSI LIMITED., ,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, CIRCLE-7(1)(1), BANGALORE

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri George George K. & Shri Chandra Poojari

capital gains and income from other sources. Insofar as income under the head 'profits and gains of business or professions' is concerned, provisions thereto are contained in Sections 28 to 44DB of the Act. Section 28 specifies various incomes which shall be chargeable to income tax under this head. Thereafter, Section 29 provides that income referred to in Section