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91 results for “capital gains”+ Section 256(1)clear

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Key Topics

Addition to Income73Section 143(3)68Section 14A58Section 13232Disallowance31Section 153C30Deduction24Section 153A23Section 2(15)21

SREENIVASULU SAGALETI,BENGALURU vs. INCOME TAX OFFICER, WARD-2(2)(2), BENGALURU

In the result, appeal filed by the assessee is allowed

ITA 2493/BANG/2024[2018-19]Status: DisposedITAT Bangalore16 May 2025AY 2018-19

Bench: Shri. Laxmi Prasad Sahuandshri.Keshav Dubeyassessment Year :2018-19

For Appellant: Shri. Sandeep Chalapathy, CAFor Respondent: Shri. Ganesh R Gale, Standing Counsel for Department
Section 139Section 139(1)Section 54FSection 54F(1)Section 54F(4)

Capital Gain Account scheme thus provides for opening of a bank account by the assessee intending to avail of the benefit under section 54F(4) of the Act. The account can be opened in form of a savings account or a fixed deposit account. The amount of deposits in such account shall be utilised for the purposes specified

Showing 1–20 of 91 · Page 1 of 5

Capital Gains19
Section 1117
Section 143(2)17

GOBINDRAM CHANDRAMANI VIVEK,BANGALORE vs. INCOME TAX OFFICER - WARD 1(1), BANGALORE, BANGALORE

In the result, the appeal of the assessee is allowed for statistical purposes, in the manner indicated in this order

ITA 656/BANG/2023[2011-12]Status: DisposedITAT Bangalore13 Sept 2024AY 2011-12

Bench: Mrs. Beena Pillai & Shri Ramit Kochar

For Appellant: Sh. Ashok A Kulkarni, AdvocateFor Respondent: Ms. Neha Sahay, JCIT
Section 139Section 139(1)Section 139(4)Section 143(2)Section 143(3)Section 24Section 54Section 54(2)Section 54F

Section 54, which date of purchase of new asset was also a date prior to extended due date of filing of return of income u/s 139(4). The assessee claimed exemption u/s 54 on long term capital gains earned on transfer of original asset in his belated return of income filed with Revenue u/s 139(4) on 28.03.2013 i.e. within

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 by the assessee is dismissed

ITA 933/BANG/2017[2007-08]Status: DisposedITAT Bangalore11 Oct 2021AY 2007-08

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

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru
Section 2(47)(v)Section 234ASection 45Section 53A

1 DTR 321, which was confirmed by the High Court of Karnataka. Even assuming that possession has been given on 30.11.2007, capital gain would arise for the assessment year 2008-09 and not for the relevant assessment year. Thus, the ld. AR submitted that on this ground alone the impugned computation of capital gains as made is required

M/S PRESTIGE ESTATES PROJECTS LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-18(1), BANGALORE

In the result, the appeal of the assessee is allowed

ITA 813/BANG/2019[2014-15]Status: DisposedITAT Bangalore02 Mar 2021AY 2014-15

Bench: Shri N.V.Vasudevan, Vp & Shri Chandra Poojari, Am

For Appellant: Sri.Padamchand Khincha, CAFor Respondent: Smt.R.Premi, JCIT-DR
Section 191Section 194Section 201Section 201(1)Section 206ASection 4

256 ITR (St.) 22) states that no tax is required to be deducted in respect of any amounts payable to anybody or authority or institution, whose income is unconditionally exempt under section 10. The CBDT in Circular No 4 of 2008 dated 28.04.2008 clarified in context of section 194I that the payer of rent need not deduct

T. SHIVAKUMAR,BANGALORE vs. ITO, BANGALORE

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

ITA 323/BANG/2015[2009-10]Status: DisposedITAT Bangalore19 Feb 2016AY 2009-10

Bench: Shri Abraham P George & Shri Vijaypal Rao

For Appellant: Shri C. Ramesh, CAFor Respondent: Smt. S. Praveena, Addl.CIT
Section 54

256/-, i.e. much more than the amount of capital gain. Reference was made to Circular No. 471 dated 15th October, 1986 [1986] 162 ITR (Stat.) 41. It was observed that Section 54 of the Act says that assessee could have constructed the house and not that the construction should have necessarily been completed. 16 ITA No.323(B)/15 Noticing that

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 4(2)(1), BANGALORE vs. M/S. N G BALU REDDY HUF, BANGALORE

In the result, the appeal of the Revenue is allowed

ITA 651/BANG/2020[2009-10]Status: DisposedITAT Bangalore21 Dec 2021AY 2009-10

Bench: Shri Chandra Poojari & Shri George George Kassessment Year : 2009-10

For Appellant: Smt. Sheethal, AdvocateFor Respondent: Shri Chetan R, Addl. CIT (DR)
Section 139(1)Section 139(4)Section 147Section 2(47)(v)

1, situated at Munnekolalu Village, Varthur Hobli, Bangalore East Taluk. 4. On verification of the income tax return filed for the above year, it is noticed that the assessee has not paid capital gains tax on account of joint development agreement entered by the assessee in respect of land owned by HUF along with Sri.N.G.Chandra Reddy. The assessee has received

JCIT, BANGALORE vs. M/S VIJAYA BANK, BANGALORE

In the result the appeal by the Assessee is allowed

ITA 578/BANG/2012[2008-09]Status: DisposedITAT Bangalore27 Feb 2015AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2008-09

For Appellant: Shri S.Ananthan and Smt.Lalitha Rameswaran, CAsFor Respondent: Shri O.P.Yadav, CIT-III (DR)
Section 36(1)(viia)

256 ITR 423 (Gau), where it was held that it is permissible on the part of the Tribunal to entertain a ground beyond those incorporated in the memorandum of appeal though the party urging the said ground had neither appealed before it nor had filed a cross-objection in the appeal filed by the other party. We have considered

VIJAYA BANK,BANGALORE vs. ADDL.C.I.T., BANGALORE

In the result the appeal by the Assessee is allowed

ITA 653/BANG/2012[2008-09]Status: DisposedITAT Bangalore27 Feb 2015AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2008-09

For Appellant: Shri S.Ananthan and Smt.Lalitha Rameswaran, CAsFor Respondent: Shri O.P.Yadav, CIT-III (DR)
Section 36(1)(viia)

256 ITR 423 (Gau), where it was held that it is permissible on the part of the Tribunal to entertain a ground beyond those incorporated in the memorandum of appeal though the party urging the said ground had neither appealed before it nor had filed a cross-objection in the appeal filed by the other party. We have considered

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

ITA 1251/BANG/2013[2005-06]Status: DisposedITAT Bangalore14 Feb 2023AY 2005-06

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

For Appellant: Shri Balram R. Rao, AdvocateFor Respondent: Shri Gudimella VP Pavan Kumar, Jt.CIT(DR)(ITAT)
Section 132Section 153C

1,44,00,000 – – Unexplained gain on – – 6,07,621 sale of mutual fund 6. Aggrieved, the assessee preferred appeals before the CIT(Appeals). The CIT(Appeals) gave full relief to the assessee in respect of the addition made towards bad debts written off. With regard to unexplained expenditure incurred towards property improvement, the CIT(A) gave partial relief

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

ITA 1212/BANG/2013[2006-07]Status: DisposedITAT Bangalore14 Feb 2023AY 2006-07

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

For Appellant: Shri Balram R. Rao, AdvocateFor Respondent: Shri Gudimella VP Pavan Kumar, Jt.CIT(DR)(ITAT)
Section 132Section 153C

1,44,00,000 – – Unexplained gain on – – 6,07,621 sale of mutual fund 6. Aggrieved, the assessee preferred appeals before the CIT(Appeals). The CIT(Appeals) gave full relief to the assessee in respect of the addition made towards bad debts written off. With regard to unexplained expenditure incurred towards property improvement, the CIT(A) gave partial relief

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

ITA 1252/BANG/2013[2006-07]Status: DisposedITAT Bangalore14 Feb 2023AY 2006-07

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

For Appellant: Shri Balram R. Rao, AdvocateFor Respondent: Shri Gudimella VP Pavan Kumar, Jt.CIT(DR)(ITAT)
Section 132Section 153C

1,44,00,000 – – Unexplained gain on – – 6,07,621 sale of mutual fund 6. Aggrieved, the assessee preferred appeals before the CIT(Appeals). The CIT(Appeals) gave full relief to the assessee in respect of the addition made towards bad debts written off. With regard to unexplained expenditure incurred towards property improvement, the CIT(A) gave partial relief

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

ITA 1253/BANG/2013[2007-08]Status: DisposedITAT Bangalore14 Feb 2023AY 2007-08

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

For Appellant: Shri Balram R. Rao, AdvocateFor Respondent: Shri Gudimella VP Pavan Kumar, Jt.CIT(DR)(ITAT)
Section 132Section 153C

1,44,00,000 – – Unexplained gain on – – 6,07,621 sale of mutual fund 6. Aggrieved, the assessee preferred appeals before the CIT(Appeals). The CIT(Appeals) gave full relief to the assessee in respect of the addition made towards bad debts written off. With regard to unexplained expenditure incurred towards property improvement, the CIT(A) gave partial relief

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

ITA 1211/BANG/2013[2005-06]Status: DisposedITAT Bangalore14 Feb 2023AY 2005-06

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

For Appellant: Shri Balram R. Rao, AdvocateFor Respondent: Shri Gudimella VP Pavan Kumar, Jt.CIT(DR)(ITAT)
Section 132Section 153C

1,44,00,000 – – Unexplained gain on – – 6,07,621 sale of mutual fund 6. Aggrieved, the assessee preferred appeals before the CIT(Appeals). The CIT(Appeals) gave full relief to the assessee in respect of the addition made towards bad debts written off. With regard to unexplained expenditure incurred towards property improvement, the CIT(A) gave partial relief

SARITA DUDHERIA,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE- 1(2), BANGALORE

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

ITA 381/BANG/2020[2014-15]Status: DisposedITAT Bangalore15 Mar 2022AY 2014-15

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri K.R. Pradeep & Ms. Girija
Section 10(38)

section 143(3). On legal grounds raised for assessment year 2013-14, the Ld.AR submitted that, the assessee for the above assessment year filed its return of income on 20.01.2014 declaring total income of Rs.6,29,540/- consisting of Income from House Property of Rs.72,996/-, Short term capital gains of Rs.5,32,549/- and Income from Other sources

SARITA DUDHERIA,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE- 1(2), BANGALORE

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

ITA 380/BANG/2020[2013-14]Status: DisposedITAT Bangalore15 Mar 2022AY 2013-14

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri K.R. Pradeep & Ms. Girija
Section 10(38)

section 143(3). On legal grounds raised for assessment year 2013-14, the Ld.AR submitted that, the assessee for the above assessment year filed its return of income on 20.01.2014 declaring total income of Rs.6,29,540/- consisting of Income from House Property of Rs.72,996/-, Short term capital gains of Rs.5,32,549/- and Income from Other sources

SARITA DUDHERIA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)(2), BANGALORE

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

ITA 382/BANG/2020[2015-16]Status: DisposedITAT Bangalore15 Mar 2022AY 2015-16

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri K.R. Pradeep & Ms. Girija
Section 10(38)

section 143(3). On legal grounds raised for assessment year 2013-14, the Ld.AR submitted that, the assessee for the above assessment year filed its return of income on 20.01.2014 declaring total income of Rs.6,29,540/- consisting of Income from House Property of Rs.72,996/-, Short term capital gains of Rs.5,32,549/- and Income from Other sources

INDIANOIL SKYTANKING PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 3(1)(1), BENGALURU

In the result, the appeals are partly allowed

ITA 407/BANG/2020[2017-18]Status: DisposedITAT Bangalore20 May 2022AY 2017-18

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

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 115Section 143(3)Section 36(1)(iii)Section 37(1)Section 80Section 80I

256 ITR 1) by Hon’ble Delhi High Court. Accordingly he submitted that it cannot be said that the DDT ITA Nos.583/Bang/2019, 299 & 407/Bang/2020 Page 7 of 43 liability is not part of assessment order passed u/s 143(3), if it is not specifically discussed in the assessment order, especially when there is no other section in the Act dealing

M/S. INDIANOIL SKYTAKING PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 3(1)(1), BANGALORE

In the result, the appeals are partly allowed

ITA 299/BANG/2020[2016-17]Status: DisposedITAT Bangalore20 May 2022AY 2016-17

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

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 115Section 143(3)Section 36(1)(iii)Section 37(1)Section 80Section 80I

256 ITR 1) by Hon’ble Delhi High Court. Accordingly he submitted that it cannot be said that the DDT ITA Nos.583/Bang/2019, 299 & 407/Bang/2020 Page 7 of 43 liability is not part of assessment order passed u/s 143(3), if it is not specifically discussed in the assessment order, especially when there is no other section in the Act dealing

M/S INDIANOIL SKYTANKING PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3(1)(1), BANGALORE

In the result, the appeals are partly allowed

ITA 583/BANG/2019[2015-16]Status: DisposedITAT Bangalore09 May 2022AY 2015-16

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

For Appellant: Shri Padamchand Khincha, CAFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 115Section 143(3)Section 36(1)(iii)Section 37(1)Section 80Section 80I

256 ITR 1) by Hon’ble Delhi High Court. Accordingly he submitted that it cannot be said that the DDT ITA Nos.583/Bang/2019, 299 & 407/Bang/2020 Page 7 of 43 liability is not part of assessment order passed u/s 143(3), if it is not specifically discussed in the assessment order, especially when there is no other section in the Act dealing

M/S UNITED BREWERIES LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(1), BANGALORE

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

ITA 481/BANG/2018[2012-13]Status: DisposedITAT Bangalore11 Nov 2022AY 2012-13

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

For Appellant: Sri.K.R.Vasudevan, AdvocateFor Respondent: Sri.K.Sankar Ganesh, JCIT –DR
Section 115JSection 143(2)Section 143(3)Section 14ASection 40Section 43B

capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head "Profits and gains of business or profession". Explanation : For the removal of doubts, it is hereby declared that any expenditure incurred by an assessee