SMT. BRIDGET ANTHONY(LEGAL HEIR OF LATE MR. ELEVATHINGAL JOSEPH ANTHONY),BANGALORE vs. INCOME-TAX OFFICER, WARD-4(2)(1), BANGALORE

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

Bench: Shri Chandra Poojari & Shri Keshav Dubeyassessment Year: 2015-16

Capital Gains’. After satisfying himself on the above issue, the assessing officer issued another notice u/s. 142(1) dated 25.11.2016 seeking details of deduction claimed u/s. 54B of the Act. The assessing officer has requested for approval of the Pr. CIT for converting the case from limited to complete scrutiny. The approval was communicated to assessing officer on 29.11.2016. However

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2) , BENGALURU

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

276\n1,41,85,547\n24,42,94,823\n2017-18\n20,40,17,960\n22,48,58,255\n2,06,38,910\n31,36,48,443\n2018-19\n43,78,88,596\n79,79,183\n44,58,67,779\n\n4.\nAfter centralization of the case, notice under section 153A of the Act\nwas issued on 05.02.2019. In response

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2) , BENGALURU

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

276\n1,41,85,547\n24,42,94,823\n2017-18\n20,40,17,960\n22,48,58,255\n2,06,38,910\n31,36,48,443\n2018-19\n43,78,88,596\n79,79,183\n44,58,67,779\n\n4.\nAfter centralization of the case, notice under section 153A of the Act\nwas issued on 05.02.2019. In response

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-2(2), BENGALURU

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

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

276 1,41,85,547 24,42,94,823 2017-18 20,40,17,960 - 22,48,58,255 2,06,38,910 31,36,48,443 2018-19 43,78,88,596 - - 79,79,183 44,58,67,779 4. After centralization of the case, notice under section 153A of the Act was issued on 05.02.2019. In response

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

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

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

276 1,41,85,547 24,42,94,823 2017-18 20,40,17,960 - 22,48,58,255 2,06,38,910 31,36,48,443 2018-19 43,78,88,596 - - 79,79,183 44,58,67,779 4. After centralization of the case, notice under section 153A of the Act was issued on 05.02.2019. In response

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

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

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

276 1,41,85,547 24,42,94,823 2017-18 20,40,17,960 - 22,48,58,255 2,06,38,910 31,36,48,443 2018-19 43,78,88,596 - - 79,79,183 44,58,67,779 4. After centralization of the case, notice under section 153A of the Act was issued on 05.02.2019. In response

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX OFFICER, CENTRAL CIRCLE-2(2), BENGALURU

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

276\n| 1,41,85,547\n| 24,42,94,823\n| 2017-18\n| 20,40,17,960\n| 22,48,58,255\n| 2,06,38,910\n| 31,36,48,443\n| 2018-19\n| 43,78,88,596\n| -\n| -\n| 79,79,183\n| 44,58,67,779\n\n4.\nAfter centralization of the case

INSTAKART SERVICES PRIVATE LIMITED,BANGALORE vs. ACIT, SPECIAL RANGE-3, BANGALORE

In the result appeal of the Revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

gains of business or profession" or "Income from other sources" has to be computed and it lays down that such income shall, subject to the provisions of sub-section (2), be computed in accordance with either cash or mercantile system of accounting regularly employed by the assessee. Sub-section (2) of section 145 provides that the Central Government may notify

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1), BENGALURU, BENGALURU vs. INFOSYS LIMITED, BENGALURU

In the result, appeal filed by the assessee is partly allowed and the appeal filed by the revenue is dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2019-20

gains derived by the SEZ Units from export of computer software and cannot be taxed separately under income from other sources. Therefore, the offering of the various incomes by the assessee as income from other sources should not come in the way of putting forth a claim of deduction. Consequently, all these incomes are an integral part of SEZ unit

RAAJRATNA ENERGY HOLDINGS PRIVATE LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BANGALORE

section 56(2)(viib) of the\nAct for the Assessment Year 2017-18. Further for the Assessment Year 2018-\n19, AO has disallowed short term capital loss of Rs.5,10,000/- as per his Order\nat para No.5 on sale of investment in Venu Hydro Powers Ltd., and observed\nthat the assessee has claimed excess long term capital loss

RAAJRATNA ENERGY HOLDINGS PRIVATE LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

Accordingly, this\nground is allowed for statistical purposes

Capital Gain.\n(Addition: Rs.5,10,000/-)”\nHence, it is clear that the learned Assessing Officer ignored\nthe loss on sale of land transaction completely and came to the\nconclusion that the assessee claimed this loss of Rs.5,10,000/- in\nexcess and consequently wrongly added the same inspite of the\nfact that the Assessee clearly reported the same

INSTAKART SERVICES PRIVATE LIMITED ,BENGALURU vs. ACIT, CENTRAL CIRCLE-1(4), BENGALURU

In the result, the stay application dismissed as infructuous

gains of business or\nprofession\" or \"Income from other sources\" has to be computed and it lays\ndown that such income shall, subject to the provisions of sub-section (2), be\ncomputed in accordance with either cash or mercantile system of accounting\nregularly employed by the assessee. Sub-section (2) of section 145 provides\nthat the Central Government may notify

DCIT CC -1(4), BENGALURU, BENGALURU vs. INSTAKART SERVICES PVT LTD, BENGALURU

gains of business or\nprofession\" or \"Income from other sources\" has to be computed and it lays\ndown that such income shall, subject to the provisions of sub-section (2), be\ncomputed in accordance with either cash or mercantile system of accounting\nregularly employed by the assessee. Sub-section (2) of section 145 provides\nthat the Central Government may notify

DCIT, CC-1(4), BENGALURU, BENGALURU vs. INSTAKART SERVICES PVT LTD, BENGALURU

In the result, the stay application dismissed as infructuous

gains of business or\nprofession\" or \"Income from other sources\" has to be computed and it lays\ndown that such income shall, subject to the provisions of sub-section (2), be\ncomputed in accordance with either cash or mercantile system of accounting\nregularly employed by the assessee. Sub-section (2) of section 145 provides\nthat the Central Government may notify

INSTAKART SERVICES PRIVATE LIMITED,BANGALORE vs. JCIT, SPECIAL RANG-3, BANGALORE

Appeals of the revenue are dismissed

gains of business or\nprofession\" or \"Income from other sources\" has to be computed and it lays\ndown that such income shall, subject to the provisions of sub-section (2), be\ncomputed in accordance with either cash or mercantile system of accounting\nregularly employed by the assessee. Sub-section (2) of section 145 provides\nthat the Central Government may notify

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BENGALURU vs. FLIPKART INDIA PVT LTD, BENGALURU

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

gains of business or profession" or "Income from other sources" has to be computed and it lays down that such income shall, subject to the provisions of sub-section (2), be computed in accordance with either cash or mercantile system of accounting regularly employed by the assessee. Sub-section (2) of section 145 provides that the Central Government may notify

DEPUTY COMMISSIONER OF INCOME TAX, BENGALURU vs. FLIPKART INDIA PVT LTD, BENGALURU

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

gains of business or profession" or "Income from other sources" has to be computed and it lays down that such income shall, subject to the provisions of sub-section (2), be computed in accordance with either cash or mercantile system of accounting regularly employed by the assessee. Sub-section (2) of section 145 provides that the Central Government may notify

M/S. HARIS MARINE PRODUCTS,MANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, , MANGALORE

In the result, both the appeals of the assessee are\nallowed

276/-\n5.1 Thus, ld. AO arrived at a difference of income between the\namount declared in statement u/s 132(4) of the Act towards bogus\npurchase and amount of additional income declared by the\nassessee in his return for these two assessment years filed u/s\n153C of the Act as follows:\nA\nAY\nB\nDeclared\namount\nadmitted u/s\n132