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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

4. Capital gain treated as business Income 1.60 5. Unexplained investment 200 253 Total 8.2. However, in this case there was a seized material to the addition made in respect of unexplained investment of Rs.2 crores which has been discussed by the AO in para 7 of the assessment order, wherein during the course of search operation one agreement

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

4. Capital gain treated as business Income 1.60 5. Unexplained investment 200 253 Total 8.2. However, in this case there was a seized material to the addition made in respect of unexplained investment of Rs.2 crores which has been discussed by the AO in para 7 of the assessment order, wherein during the course of search operation one agreement

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

4. Capital gain treated as business Income 1.60 5. Unexplained investment 200 253 Total 8.2. However, in this case there was a seized material to the addition made in respect of unexplained investment of Rs.2 crores which has been discussed by the AO in para 7 of the assessment order, wherein during the course of search operation one agreement

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

4. Capital gain treated as business Income 1.60 5. Unexplained investment 200 253 Total 8.2. However, in this case there was a seized material to the addition made in respect of unexplained investment of Rs.2 crores which has been discussed by the AO in para 7 of the assessment order, wherein during the course of search operation one agreement

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

4. Capital gain treated as business Income 1.60 5. Unexplained investment 200 253 Total 8.2. However, in this case there was a seized material to the addition made in respect of unexplained investment of Rs.2 crores which has been discussed by the AO in para 7 of the assessment order, wherein during the course of search operation one agreement

DESIRAZU SUNDARA SIVA RAO,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-6(3)(1), BENGALURU

In the result, appeals by the assessees are treated as partly allowed for statistical purposes and Stay Petition is dismissed

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

4 of 12 5. Similarly, Shri. Desirazu Sundara Siva Rao computed capital gain on account of JDA for Assessment Year 2015-16 as follows: Schedule 1 Long term capital gain Immovable property other than residential Date of transfer 17-Oct-14 Sale consideration 1,92,85,000 Acquisition details Financial Year Cost Indexed Cost Cost of Land-1862*1024/161

NAGARAJ DESIRAZU,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-6(3)(1), BANGALORE

In the result, appeals by the assessees are treated as partly allowed for statistical purposes and Stay Petition is dismissed

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

4 of 12 5. Similarly, Shri. Desirazu Sundara Siva Rao computed capital gain on account of JDA for Assessment Year 2015-16 as follows: Schedule 1 Long term capital gain Immovable property other than residential Date of transfer 17-Oct-14 Sale consideration 1,92,85,000 Acquisition details Financial Year Cost Indexed Cost Cost of Land-1862*1024/161

SRI. HAIDER NOMAN KHORAKIWALA,MYSURU vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), MYSURU

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

253 ITR 343. In so far as the second observation of the learned AO that the assessee has not deposited capital gains amount in capital gains accounts scheme before the date of furnishing of the return under section 139 of the Act, it was submitted that assessee has expended the entire consideration of Rs.12,33,200/- within the period

INCOME-TAX OFFICER, WARD-7(2)(1), BENGALURU, BENGALURU vs. M/S. BANGALORE CREDIT CO-OPERATIVE SOCIETY LIMITED, BENGALURU

In the result both the appeals of the Revenue as well as\nCos of the Assessee for the Asst

4 of CO and Ground No. 2 of Department's\nappeal : Disallowance of deduction u/s 80P(2)(a)(i) of the\nIncome Tax Act, 1961.\n\n13.1 The ld. A.R. submitted that the interest income from\ninvestments in various co-operative societies and banks are entitled\nfor deduction u/s.80P(2)(a)(i) of the Act. The details of the interest

M/S JAICO AUTOMOBILE ENGINEERING COMPANY PVT LTD ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-11(5), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2007-08

Section 143(3) of the Act was passed on 17.04.2009 determining the total income at Rs. 52,22,60,1521. The assessing authority made the following additions: 1. Travel expenses disallowed. Rs.1,68,371/- 2. Excess interest expenses disallowed Rs.17,26,100/- 3. Unaccounted scrap sales: Rs.25,76,253/- 4. Capital gain

SRI. B.T. DAYANANDA REDDY,BANGALORE vs. ACIT, BANGALORE

In the result appeal filed by assessee stands partly allowed

Bench: Shri A. K. Gorodia & Smt. Beena Pillai

4. Ld.AR submitted that, said agricultural land was originally purchased by assessee from one Sh.Abdul Khudus, vide sale deed dated 29/09/03 for total consideration of Rs.4,70,000/-. Ld.AR submitted that assessee made advance payment towards purchase of said land, way back in the year 1994-95 amounting to Rs.4,00,000/-. It was submitted by Ld.AR that Sh.Abdul Khudus

SRI. B.T. DAYANANDA REDDY,BANGALORE vs. ACIT, BANGALORE

In the result appeal filed by assessee stands partly allowed

Bench: Shri A. K. Gorodia & Smt. Beena Pillai

4. Ld.AR submitted that, said agricultural land was originally purchased by assessee from one Sh.Abdul Khudus, vide sale deed dated 29/09/03 for total consideration of Rs.4,70,000/-. Ld.AR submitted that assessee made advance payment towards purchase of said land, way back in the year 1994-95 amounting to Rs.4,00,000/-. It was submitted by Ld.AR that Sh.Abdul Khudus

INCOME TAX OFFICER, WARD-7(2)(1), BENGALURU, BANGALORE vs. M/S. BANGALORE CREDIT CO-OPERATIVE SOCIETY LIMITED , BANGALORE

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

4 of CO and Ground No. 2 of Department’s appeal : Disallowance of deduction u/s 80P(2)(a)(i) of the Income Tax Act, 1961. 13.1 The ld. A.R. submitted that the interest income from investments in various co-operative societies and banks are entitled for deduction u/s. 80P(2)(a)(i) of the Act. The details of the interest

AKSHAY KUMAR RUNGTA,BANGALORE vs. INCOME TAX OFFICER, WARD 2(1), INTERNATIONAL TAXATION

In the result, appeal filed by the assessee is allowed as per above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyit(It)A No.66/Bang/2024 Assessment Year :2015-16

253. He submitted that however the judgment is related to section 151 of the Act but as per section 282A of the Act, the AO has to sign each and every notices/order/document. He also referred to para Nos.10, 13, 16, 18, 20, 26, 27, 28 and 29 of the said judgment. He also referred to judgment of the jurisdictional High

M/S PALMER INVESTMENT GROUP LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) CIRCLE-2(1), BANGALORE

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

Bench: Shri George George K. & Ms. Padmavathy S.

4. The learned AO, the learned TPO, and the Hon'ble DRP have failed to appreciate that the transaction of sale of shares by the Appellant to Relay B.V., was reported as an international transaction in the Accountants Report for FY 2013-14 only to be compliant with the definition of associated enterprise under Section

M/S UB SPORTS MANAGEMENT OVERSEAS LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX(INTERNATIONAL TAXATION) CIRCLE-1(2), BANGALORE

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

Bench: Shri George George K. & Ms. Padmavathy S.

4. The learned AO, the learned TPO, and the Hon'ble DRP have failed to appreciate that the transaction of sale of shares by the Appellant to Relay B.V., was reported as an international transaction in the Accountants Report for FY 2013-14 only to be compliant with the definition of associated enterprise under Section

JOHN DISTILLERIES PVT LTD.,,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

253 of the Act. There appears to be no justification for cutting Date of Order 07-11-2017 W.P.Nos.24646-24651/2015 Prathiba Jewellery House Vs. The Commissioner of Income-Tax (Appeals) & Ors., short that regular remedy at this stage and to entertain these writ petitions on merits.” 15.1 Being so, this ground in ITA Nos.982 to 987/Bang/2023 in assessment

M/S. PAUL RESORTS & HOTELS PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

253 of the Act. There appears to be no justification for cutting Date of Order 07-11-2017 W.P.Nos.24646-24651/2015 Prathiba Jewellery House Vs. The Commissioner of Income-Tax (Appeals) & Ors., short that regular remedy at this stage and to entertain these writ petitions on merits.” 15.1 Being so, this ground in ITA Nos.982 to 987/Bang/2023 in assessment