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

28,000/- was already allowed as deduction while calculating capital gain for the AY 2007-08. What is relevant for the AY 2021- 22 is the remaining proportionate cost of Rs. 1,04,72,000/- to be considered for deduction while calculating the capital gains. Since the actual cost of acquisition amounting to Rs.1,04,72,000/- (assesses’s share

DIVYA DINESH ,BENGALURU vs. DCIT, CIRCLE-7(1)(1), BANGALORE

In the result appeal of the assessee is allowed

section 143(1) of the Act and\nintimation order was generated as on 28th February 2020 wherein the\nCPC, sett of the short-term capital loss of Rs. 16,28,980/- (taxable at\n15%) against the short capital gain

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

Section 53 of the\nTP Act in the context of capital gains under the Income\nTax Act, it has been held thus:\nITA Nos.775 & 954/Bang/2024\nSri Alagappa Muthiah (HUF), Bangalore\nITA Nos.776 & 955/Bang/2024\nSri Alagappa Annamalai (HUF), Bangalore\nPage 28

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

28,86,124\n14,60,95,303\n27,14,43,062\n3.8 In the assessment proceedings, the A.O. held that the liability\nto capital gains arises for the assessment year 2017-18 as\noccupancy certificate was received on 01/02/2017 for commercial\nportion and 17/03/2017 for residential portion. On the other-hand\nboth these persons contended that the liability to capital

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

28,86,124\n27,14,43,062\n3.8 In the assessment proceedings, the A.O. held that the liability\nto capital gains arises for the assessment year 2017-18 as\noccupancy certificate was received on 01/02/2017 for commercial\nportion and 17/03/2017 for residential portion. On the other-hand\nboth these persons contended that the liability to capital gains\narose

M/S PARAMANAND AND SONS,BENGALURU vs. INCOME TAX OFFICER, WARD 5(2)(1), BENGALURU

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Years : 2020-21

Section 143(1) of the Act, adjusted the business loss against the capital gains. This adjustment reduced the carry-forward business loss to Rs. 28

HANCHIPURA CHANNAIAH NANDAKISHORE,MAHALKSHMIPURAM vs. INCOME TAX OFFICER WARD INTL, TAXATION 1(2) BANGALORE, BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyit(It)A No.258/Bang/2025 Assessment Year : 2018-19 Hanchipura Channaiah Nandakishore 87, 2Nd Stage & Phase Mahalakshmipuram 2Nd Stage, 14Th Main, West Of Chord Ito Road Vs. Ward International Taxation 1(2) Mahalakshmipuram Bangalore Bangalore 560 086 Pan No :Blrpn0428A Appellant Respondent Appellant By : Sri Siddesh N Gaddi, A.R. Respondent By : Dr. Divya K.J., D.R. Date Of Hearing : 07.08.2025 Date Of Pronouncement : 04.11.2025

Capital Gains Accounts Scheme as mandated under IT(IT)A No.258/Bang/2025 HanchipuraChannaiah Nandakishore, Bangalore Page 4 of 16 section 54(2) of the Act. 5 The construction has not been completed within three years period i.e. within 31/07/2018. 3.3 The AO accordingly assessed the LTCG at Rs. 26,91,120/-. The AO passed the assessment order u/s 147 r.w.s. 144C

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

28,500 2007-08 29.7.2010 9,52,480 5. The AO completed the assessment by making the following additions:- Asst. year Asst. year Asst. year Addition 2005-06 2006-07 2007-08 Bad debts written off 30,34,124 26,633 – Unexplained expenses 54,17,542 – – towards property improvement Undisclosed capital 1,44,00,000 – – Unexplained gain

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

28,500 2007-08 29.7.2010 9,52,480 5. The AO completed the assessment by making the following additions:- Asst. year Asst. year Asst. year Addition 2005-06 2006-07 2007-08 Bad debts written off 30,34,124 26,633 – Unexplained expenses 54,17,542 – – towards property improvement Undisclosed capital 1,44,00,000 – – Unexplained gain

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

28,500 2007-08 29.7.2010 9,52,480 5. The AO completed the assessment by making the following additions:- Asst. year Asst. year Asst. year Addition 2005-06 2006-07 2007-08 Bad debts written off 30,34,124 26,633 – Unexplained expenses 54,17,542 – – towards property improvement Undisclosed capital 1,44,00,000 – – Unexplained gain

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

28,500 2007-08 29.7.2010 9,52,480 5. The AO completed the assessment by making the following additions:- Asst. year Asst. year Asst. year Addition 2005-06 2006-07 2007-08 Bad debts written off 30,34,124 26,633 – Unexplained expenses 54,17,542 – – towards property improvement Undisclosed capital 1,44,00,000 – – Unexplained gain

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

28,500 2007-08 29.7.2010 9,52,480 5. The AO completed the assessment by making the following additions:- Asst. year Asst. year Asst. year Addition 2005-06 2006-07 2007-08 Bad debts written off 30,34,124 26,633 – Unexplained expenses 54,17,542 – – towards property improvement Undisclosed capital 1,44,00,000 – – Unexplained gain

NALAPAD PROPERTIES ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOMER TAX, CENTRAL CIRCLE-2(3) , BANGALORE

gains" and\nshall be deemed to be the income of the previous year in which\ntransfer took place. However, in the present case, income has to\nbe charged u/s 28 of the Act after conversion of capital asset into\nstock in trade and it has to consider the applicability of section

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

Capital Gain\n6,48,41,697\n1. In response, the appellant had furnished a copy of the same statement\nas mentioned above and a copy of four purchase deeds amounting to\nRs.4,42,20,000/- but did not produce any evidence as to how it claimed cost of\nacquisition at Rs.8,45,28,050/- in place of Rs.4

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

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

28,750/-. In the returns filed under Section\n153A of the Income-tax Act (for short hereinafter referred to as the Act) the assessee\ncomputed Long Term Capital Gains

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

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

VAIDYA SRIKANTAPPA SADASHIVAIAH SRIKANTH,BANGALORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, BANGALORE- 1, , BANGALORE

section 263 f\nthe Act and observed that the assessee's property situated at\nBommanahalli, Bangalore was acquired by KIADB as per KIADB Act,\n1966 for the Metro work at Bommanahalli and received a\ncompensation of Rs.11,98,36,958/-, which has been claimed by\nassessee as exempt and not offered the capital gain arised out of this\ntransaction. Accordingly