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1,195 results for “capital gains”+ Section 32(2)clear

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Key Topics

Addition to Income62Section 143(3)59Section 14849Section 153A38Disallowance37Section 133A34Deduction32Section 14729Section 201(1)27

SRI KAMANAHALLI PILLA REDDY NAGESH,BANGALORE vs. INCOME TAX OFFICER, WARD- 4(3)(5), BANGALORE

Accordingly, this ground of the assessee is allowed

ITA 1396/BANG/2019[2014-15]Status: DisposedITAT Bangalore21 Jun 2022AY 2014-15

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2014-15 Shri Kamanahalli Pilla Reddy Nagesh, Kamanahalli Village, Kagur The Income Tax Post, Officer, Sarjapura Road, Ward – 4 [3] [5], Anekal Taluk, Bangalore. Vs. Bangalore – 562 125. Pan: Adfpn8365H Appellant Respondent Assessee By : Shri Guruswamy, Itp : Shri V.S. Chakrapani, Cit- Revenue By Dr Date Of Hearing : 01-06-2022 Date Of Pronouncement : 21-06-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 28.03.2019 Passed By Ld.Cit(A)-9, Bangalore For A.Y. 2014-15 On The Following Grounds Of Appeal: “1. The Orders Of The Authorities Below In So Far As They Are Against The Appellant, Are Opposed To Law, Equity, Weight Of Evidence, Probabilities, Facts & Circumstances Of The Case. 2. The Learned Cit[A] Is Not Justified In Upholding The Assessment Order Passed U/S. 143[3] Of The Act Despite The Fact That No Valid Notice U/S.143[2] Of The Act Was Served

For Appellant: Shri Guruswamy, ITP
Section 10(1)Section 143Section 2(14)Section 234Section 292B

Showing 1–20 of 1,195 · Page 1 of 60

...
Section 10A27
Section 4025
Survey u/s 133A18
Section 54B

capital gains in view of section 2(14) read with sections 45 and 48 of the Act?" 7.3.5. After taking into account the submissions of the either of the party and also the perusal of the orders of the authorities below, the Hon'ble Court had held as under: "5. We find from the record that the Appellate Commissioner

MR K. P. MANJUNATHA REDDY,BANGALORE vs. THE INCOME TAX OFFICER, WARD 4(3)(2), BANGALORE

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

ITA 977/BANG/2019[2014-15]Status: DisposedITAT Bangalore25 Mar 2022AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2014-15

For Appellant: Shri Thirumala Naidu, A.RFor Respondent: Smt. Priyadarshini Mishra, D.R
Section 10(1)Section 143(3)Section 2(14)Section 271(1)(c)

gains in view of section 2(14) read with sections 45 and 48 of the Act ? " 10.5The Hon'ble Court after considering the averments of both parties and the orders of the authorities below held as under :• "5. We find from the record that the Appellate Commissioner as well as the Tribunal followed an earlier ruling of the Tribunal

ACIT, BANGALORE vs. SHRI. PRASHANTH PRAKASH, BANGALORE

In the result, the appeal by the Revenue is dismissed, while the Cross Objection by assessee is treated as allowed for statistical purposes

ITA 864/BANG/2014[2009-10]Status: DisposedITAT Bangalore11 Jun 2015AY 2009-10

Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2009-10

For Appellant: Shri H.N. Khincha, CAFor Respondent: Shri P. Dhivahar, Jt. CIT(DR)
Section 143(3)Section 54F

32 DTR 243 (Kar). In the aforesaid case, the facts were that the capital gains were invested on or before the due date specified u/s. 139(4) of the Act, but the unutilized capital gain had not been deposited in the specified bank account on or before the due date prescribed u/s. 139(1) & CO 86/Bang/2015 Page

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

capital gains. It fastens an obligation on the payee / transferee to withhold taxes from any consideration paid or credited for transfer of an immovable property [not being an agricultural land]. The provisions of section 2(47) cannot be imported in section 194IA in the absence of a specific mandate. 3.62 The learned AR submitted that inview of the above

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

2,74,00,000/-, and claimed exemption under section 54 amounting to Rs. 1,64,74,870/-. The AO rejected the claim of the assessee for exemption u/s 54 as the assessee has not utilized the capital gains for the purchase or construction of new asset, and also that the assessee has not deposited the capital gains for construction

SHRI. KOLA VENKAT RAMA NAIDU,BANGALORE vs. THE COMMISSIONER OF INCOME TAX (APPEALS) - 6, BANGALORE

In the result, the appeal of the assessee is partly allowed

ITA 206/BANG/2020[2010-11]Status: DisposedITAT Bangalore05 Aug 2022AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2010-11

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri Sumer Singh Meena, D.R
Section 133ASection 2(47)(v)Section 250

gains “arose” from the transfer of a capital asset so as to attract Sections 45 and 48 of the Income Tax Act. “ “29. We are, therefore, of the view that the High Court was correct in its conclusion, but for the reasons stated by us hereinabove. The appeals are dismissed with no order as to costs” 8.17 In view

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

Section 48(2) of the Act, according to the assessee. Accordingly, the capital gains for transfer of property to M/s. Gopalan Enterprises is required to be computed by giving a reasonable expenditure towards fencing and also by reducing Rs.3,30,29,479 from capital gains as computed by the AO. 21. The ld. DR submitted that the original agreement dated

M/S. ABB LTD.,,BANGALORE vs. THE ADDL. CIT, BANGALORE

In the result appeal by the Assessee is allowed

ITA 1281/BANG/2010[1997-98]Status: DisposedITAT Bangalore14 May 2015AY 1997-98

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz Assessment Year : 1997-98

For Appellant: Shri P.J. Pardiwalla, Sr. AdvocateFor Respondent: Shri K.V. Arvind, Sr. Counsel

section 55." 31. Thus the only way to bring to tax sale consideration received on transfer of “Technical know-how” is to call it “goodwill” and that is probably Page 27 of 45 the reason why the AO preferred to call transfer of Technical know-how as transfer of goodwill. We are of the view that “Technical know

SHRI BINDIGANAVALE RAVI ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-5(2)(1), BANGALORE

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

ITA 2959/BANG/2018[2015-16]Status: DisposedITAT Bangalore30 Jul 2021AY 2015-16

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2015-16

For Appellant: Smt. R. Prathiba, AdvocateFor Respondent: Shri Priyadarshi Mishra, Addl. CIT(DR)(ITAT), Bengaluru
Section 2(47)(v)Section 234DSection 53A

2,01,24,000 vide sale deed dated 23.06.2014 and computed the long term capital gain at Rs. 41,08,845 and offered the same for taxation. The property sold was an apartment constructed by Brigade Enterprises Pvt Ltd. in pursuance of the agreement executed on 29.06.2006 Subsequently a sale deed was executed on 17.05.2010 In Accordance with the agreement

SRI. KEMPANNA (HUF - DISRUPTED),BANGALORE vs. DCIT, BANGALORE

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

ITA 278/BANG/2016[2006-07]Status: DisposedITAT Bangalore28 Sept 2018AY 2006-07

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodiaassessment Year : 2006-07

For Appellant: Shri Narendra Sharma, AdvocateFor Respondent: Shri N. Sukumar, Addl. CIT (DR)
Section 144Section 148

section 143(2) on the basis of the aforesaid return which was non-est in law. The ratio decidendi of this judgement is that the AO is not required to issue notice u/s 143(2) at all, in a case where the assessee filed the return beyond the time limit prescribed for furnishing such return. It follows from this judgement

SMT. SAVITRI KADUR,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, BANGALORE

In the result, the appeal of the assessee is allowed to the extent indicated above

ITA 1700/BANG/2016[2008-09]Status: DisposedITAT Bangalore03 May 2019AY 2008-09

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

For Appellant: Shri Padamchand Khincha, C.AFor Respondent: Dr. Pradeep Kumar, Addl. CIT(DR)
Section 2(47)Section 45Section 54E

2 is concerned, it has already been answered in favour of the assessee. In view of the decision of this court in CIT v. B.C. Srinivasa Setty [1981] 128 ITR 294 the said question must be held to have been rightly answered in favour of the assessee. So far as question No. 3 is concerned the assessee invoked clause

LATE SMT.K.LEELAVATHY BY L/R SHRI M.THIMMEGOWDA ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

ITA 752/BANG/2019[2006-07]Status: DisposedITAT Bangalore18 Apr 2022AY 2006-07

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L, CAFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 153CSection 2(14)(iii)

gains which arose on the sale of the said lands was wrongly offered in the original return in as much as the same was exempt from tax being agricultural lands and hence excluded from the definition of 'capital asset' as per the provisions of s. 2 (14)(iii) of the Act. 7.2.1. The prime issues for consideration before

LATE SMT.K.LEELAVATHY BY L/R SHRI M.THIMMEGOWDA ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

ITA 754/BANG/2019[2008-09]Status: DisposedITAT Bangalore18 Apr 2022AY 2008-09

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L, CAFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 153CSection 2(14)(iii)

gains which arose on the sale of the said lands was wrongly offered in the original return in as much as the same was exempt from tax being agricultural lands and hence excluded from the definition of 'capital asset' as per the provisions of s. 2 (14)(iii) of the Act. 7.2.1. The prime issues for consideration before

LATE SMT.K.LEELAVATHY, BY L/R SHRI M.THIMMEGOWDA ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

ITA 755/BANG/2019[2009-10]Status: DisposedITAT Bangalore18 Apr 2022AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L, CAFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 153CSection 2(14)(iii)

gains which arose on the sale of the said lands was wrongly offered in the original return in as much as the same was exempt from tax being agricultural lands and hence excluded from the definition of 'capital asset' as per the provisions of s. 2 (14)(iii) of the Act. 7.2.1. The prime issues for consideration before

LATE SMT.K>LEELAVATHY BY L/R SHRI.M.THIMMEGOWDA ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

ITA 753/BANG/2019[2007-08]Status: DisposedITAT Bangalore18 Apr 2022AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L, CAFor Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 153CSection 2(14)(iii)

gains which arose on the sale of the said lands was wrongly offered in the original return in as much as the same was exempt from tax being agricultural lands and hence excluded from the definition of 'capital asset' as per the provisions of s. 2 (14)(iii) of the Act. 7.2.1. The prime issues for consideration before

SHRI D.DASAPPA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, both the appeals of the assessee are partly allowed

ITA 2223/BANG/2016[2009-10]Status: DisposedITAT Bangalore09 Feb 2022AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri L. Bharath, CAFor Respondent: Capt. Pradeep Shoury Arya, Addl.CIT(DR)(ITAT)
Section 132Section 153CSection 2(14)Section 80

32 of 82 Tribunal in ITA No.1169 to 1172/Bang/2015, order dated 27.5.2016 in the case of Shri M.R. Anandaram (HUF) & Ors. wherein it was held as under:- “9. But in the instant case, the issue in dispute is with regard to chargeability of the capital gain on the impugned transaction. Our attention was drawn to the order of the Tribunal

SHRI D.DASAPPA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, both the appeals of the assessee are partly allowed

ITA 2222/BANG/2016[2008-09]Status: DisposedITAT Bangalore09 Feb 2022AY 2008-09

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri L. Bharath, CAFor Respondent: Capt. Pradeep Shoury Arya, Addl.CIT(DR)(ITAT)
Section 132Section 153CSection 2(14)Section 80

32 of 82 Tribunal in ITA No.1169 to 1172/Bang/2015, order dated 27.5.2016 in the case of Shri M.R. Anandaram (HUF) & Ors. wherein it was held as under:- “9. But in the instant case, the issue in dispute is with regard to chargeability of the capital gain on the impugned transaction. Our attention was drawn to the order of the Tribunal

SHRI K.G SUBBARAMA SETTY ,BANGALORE vs. ACIT 5(2)(1) BANGALORE, C R BUILDING

In the result all the three appeals in ITA Nos

ITA 965/BANG/2025[2007-08]Status: DisposedITAT Bangalore28 Nov 2025AY 2007-08

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Sri Siddesh N Gaddi, A.RFor Respondent: Sri Balusamy N, D.R
Section 127Section 132Section 143(1)Section 143(2)Section 143(3)Section 154Section 250

Section 2(31) of the Act define person to include an individual as well as a firm. Therefore, merely because the land was acquired from the firm at the guideline value & the transfer under the JDA is also required to be considered at the same guideline value that does not mean the capital gain accruing as a result

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

ITA 964/BANG/2025[2007-08]Status: DisposedITAT Bangalore28 Nov 2025AY 2007-08

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Sri Siddesh N Gaddi, A.RFor Respondent: Sri Balusamy N, D.R
Section 127Section 132Section 143(1)Section 143(2)Section 143(3)Section 154Section 250

Section 2(31) of the Act define person to include an individual as well as a firm. Therefore, merely because the land was acquired from the firm at the guideline value & the transfer under the JDA is also required to be considered at the same guideline value that does not mean the capital gain accruing as a result

IBM GLOBAL SERVICES INDIA PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(1), BANGALORE

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

ITA 3464/BANG/2004[2000-2001]Status: DisposedITAT Bangalore31 Jul 2024AY 2000-2001

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2000-2001

For Appellant: Shri Sharath Rao, CAFor Respondent: Shri D.K. Mishra, CIT-DR
Section 10ASection 10A(2)Section 10A(2)(ia)Section 142(1)Section 143(2)Section 143(3)

gains of the undertaking; and that sub-section, as if such amendment or (iv) in computing the depreciation allowance omission had not been made.] under section 32, the written down value of Explanation. For the purposes of this any asset used for the purposes of the section, business of the undertaking shall be computed (i) free trade zone means