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91 results for “capital gains”+ Section 256(2)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)

2) If a depositor in respect of whose deposit account a nomination is in force, dies, the nominee, if he desires to close the account or accounts and obtain the payment of the balance standing to the credit in the account of the deceased depositor, shall make an application to the deposit office in Form H or as near thereto

Showing 1–20 of 91 · Page 1 of 5

Capital Gains19
Section 1117
Section 143(2)17

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

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

2). The assessee purchased residential house for a total consideration of Rs. 1,64,74,870/- on 28.02.2013(date of transfer of original asset being on 03.03.2011) i.e. within two years allowed for seeking exemption of long term capital gains earned on transfer of original asset vide Section 54, which date of purchase of new asset was also a date

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

2(47) of the Act and therefore the impugned transaction was exigible to LTCG. The AO accordingly proceeded to assess capital gains at the figure of Rs. 43,61,72,341. 42. The Assessee's core contentions are summarised as under:- - The amount had been received as advance and once the sale deeds get executed, it will be taken

M/S. DAKSHINA KANNADA NIRMITHI KENDRA,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTIONS), CIRCLE -1, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 948/BANG/2019[2016-17]Status: DisposedITAT Bangalore16 Jun 2022AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

DAKSHINA KANNADA NIRMITHI KENDRA ,MANGALURU vs. INCOME TAX OFFICER, WARD 1(1),, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2087/BANG/2018[2011-12]Status: DisposedITAT Bangalore16 Jun 2022AY 2011-12

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

DAKSHINA KANNADA NIRMITHI KENDRA ,MANGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, (EXEMPTIONS), CIRCLE-1,, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2089/BANG/2018[2013-14]Status: DisposedITAT Bangalore16 Jun 2022AY 2013-14

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

M/S. UDUPI NIRMITHI KEDRA,UDUPI vs. THE DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTIONS), CIRCLE - 1, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 947/BANG/2019[2016-17]Status: DisposedITAT Bangalore16 Jun 2022AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

M/S. UDUPI NIRMITHI KENDRA,UDUPI vs. ASSISTANT COMMISSIONER OF INCOME TAX, (EXEMPTIONS) CIRCLE-1, MANGALORE

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 1962/BANG/2018[2013-14]Status: DisposedITAT Bangalore16 Jun 2022AY 2013-14

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

DAKSHINA KANNADA NIRMITHI KENDRA ,MANGALURU vs. INCOME TAX OFFICER, WARD 1(1),, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2086/BANG/2018[2010-11]Status: DisposedITAT Bangalore16 Jun 2022AY 2010-11

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

DAKSHINA KANNADA NIRMITHI KENDRA ,MANGALURU vs. INCOME TAX OFFICER, WARD 1(1),, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2088/BANG/2018[2012-13]Status: DisposedITAT Bangalore16 Jun 2022AY 2012-13

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

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)

256 Feet, on the Northern Side – 149 Feet and on the Southern Side – 188 Feet, totally measuring 2 Acres, situated Page 8 of 35 at Munnekollalu Village, Varthur Village, Bangalore East Taluk, Bangalore. 12. Further it is submitted that the AO issued notice u/s 148 on 29.03.2012 to Smt.G.Anita (Ind) seeking to assess the escaped Capital gains

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)

2,58,45,625 4. The assessee purchased 18000 shares of PS IT Infrastructure Services Ltd for Rs. 1,80,000 on 18.07.2012. She also purchased 1,90,000 shares for Rs.1,90,000 on 18.07.2012. It is also seen that the price of the scrip kept rising throughout the period and touched a high

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)

2,58,45,625 4. The assessee purchased 18000 shares of PS IT Infrastructure Services Ltd for Rs. 1,80,000 on 18.07.2012. She also purchased 1,90,000 shares for Rs.1,90,000 on 18.07.2012. It is also seen that the price of the scrip kept rising throughout the period and touched a high

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)

2,58,45,625 4. The assessee purchased 18000 shares of PS IT Infrastructure Services Ltd for Rs. 1,80,000 on 18.07.2012. She also purchased 1,90,000 shares for Rs.1,90,000 on 18.07.2012. It is also seen that the price of the scrip kept rising throughout the period and touched a high

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

capital gains. Bad debts written off ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 6 of 23 14. On perusal of the return filed in response to notice u/s. 153C, the AO noticed that the assessee has claimed a sum of Rs.30,34,124 as bad debts written off. The AO disallowed the said claim for the reason that

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

capital gains. Bad debts written off ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 6 of 23 14. On perusal of the return filed in response to notice u/s. 153C, the AO noticed that the assessee has claimed a sum of Rs.30,34,124 as bad debts written off. The AO disallowed the said claim for the reason that

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

capital gains. Bad debts written off ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 6 of 23 14. On perusal of the return filed in response to notice u/s. 153C, the AO noticed that the assessee has claimed a sum of Rs.30,34,124 as bad debts written off. The AO disallowed the said claim for the reason that

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

capital gains. Bad debts written off ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 6 of 23 14. On perusal of the return filed in response to notice u/s. 153C, the AO noticed that the assessee has claimed a sum of Rs.30,34,124 as bad debts written off. The AO disallowed the said claim for the reason that