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

In the result appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

gains in accordance with section 70 of the Act. Consequently, the computation of gross total income as returned by the assessee was in accordance with law. Once the gross total income is restored to the figure declared in the return, the deduction under section 80G of the Act must also be computed with reference to such income. The restriction applied

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

34\n10. We have carefully considered the rival\nsubmissions made by the learned counsel appearing for\nthe parties and perused the material on record.\n11. Section 45 of the Act reads thus:\n"Capital gains

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

capital gains ITA Nos.962 & 963/Bang/2025 K.S. Akhilesh Babu ITA No.964/Bang/2025 K.A. Sujith Chandan ITA No.965/Bang/2025 K.G. Subbarama Setty Page 11 of 33 of Rs.17,96,704/- (Rs.4,92,69,179 – 4,74,72,475) was added back to the income of the assessee and brought to tax. 3.6 With regard to the Notional rent on residential property owned

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

capital gains ITA Nos.962 & 963/Bang/2025 K.S. Akhilesh Babu ITA No.964/Bang/2025 K.A. Sujith Chandan ITA No.965/Bang/2025 K.G. Subbarama Setty Page 11 of 33 of Rs.17,96,704/- (Rs.4,92,69,179 – 4,74,72,475) was added back to the income of the assessee and brought to tax. 3.6 With regard to the Notional rent on residential property owned

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

capital gains in the assessment order,\nthe learned A.O. has adopted the cost of acquisition at Rs.140 per\nsft. in the manner explained above. The findings of the learned\nCIT[A] is at para [8] at pages 34 to 38 of the appellate order.\n12.1 It was contended by the appellant that the guideline value\nadopted by the learned

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

capital gains in the assessment order,\nthe learned A.O. has adopted the cost of acquisition at Rs.140 per\nsft. in the manner explained above. The findings of the learned\nCIT[A] is at para [8] at pages 34 to 38 of the appellate order.\n12.1 It was contended by the appellant that the guideline value\nadopted by the learned

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

In the result appeal of the assessee is allowed

gain is governed by section 48, but\nthe rates of tax, insofar as we are concerned in the present appeal, are\ngoverned by sections 111A and 115AD.\n9.6 Further, the adjustment made by the CPC under section 143(1)\nhas the effect of re-working the computation in a manner contrary to the\nspecific claim made by the assessee

POONAM GUPTA ,BENGALURU vs. DCIT, CIRCLE-5(1)(1), BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Soundararajan K.Assessment Year: 2017-18

34,800. It is an undisputed fact that assessee has already offered the above sum as income, did not claim any long term capital gain benefit on trading of this shares which is exempt u/s 10(38 ) of the Act. 13. The assessee's case was reopened under section

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

34. The ld. AR submitted that the CIT(A) has gone beyond his jurisdiction to assessee the capital gains from AY 2003-04 to 2005-06. Therefore, the ld. AR submitted that the directions of the CIT(Appeals) to recompute the capital gain is liable to be quashed. 35. We heard the rival submissions and perused the material on record

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

34. The ld. AR submitted that the CIT(A) has gone beyond his jurisdiction to assessee the capital gains from AY 2003-04 to 2005-06. Therefore, the ld. AR submitted that the directions of the CIT(Appeals) to recompute the capital gain is liable to be quashed. 35. We heard the rival submissions and perused the material on record

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

34. The ld. AR submitted that the CIT(A) has gone beyond his jurisdiction to assessee the capital gains from AY 2003-04 to 2005-06. Therefore, the ld. AR submitted that the directions of the CIT(Appeals) to recompute the capital gain is liable to be quashed. 35. We heard the rival submissions and perused the material on record

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

34. The ld. AR submitted that the CIT(A) has gone beyond his jurisdiction to assessee the capital gains from AY 2003-04 to 2005-06. Therefore, the ld. AR submitted that the directions of the CIT(Appeals) to recompute the capital gain is liable to be quashed. 35. We heard the rival submissions and perused the material on record

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

34. The ld. AR submitted that the CIT(A) has gone beyond his jurisdiction to assessee the capital gains from AY 2003-04 to 2005-06. Therefore, the ld. AR submitted that the directions of the CIT(Appeals) to recompute the capital gain is liable to be quashed. 35. We heard the rival submissions and perused the material on record

PIONEER INDEPENDENT TRUST ,BANGALORE vs. PR. COMMISSIONER OF INCOME TAX, BENGALURU-2, BENGALURU

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

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K.Assessment Year : 2020-21

section 55(2)(ac) of the Act had observed that the AO had failed to call for any details on the issue and accepted the computation of long term capital gains without making necessary enquiries or verifying the issue as required by law, had set aside the assessment order and directed the AO to revise the assessment order dated 26/09/2022

SHRI. SRIRAM RUPANAGUNTA,BANGALORE vs. ASISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-5(3)(2), BANGALORE

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

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2015-16 Shri Sriram Rupanagunta, The Assistant 34 Purva Park Ridge, Commissioner Of Goshala Road, Income Tax, Garudachar Palya, Circle – 5(3)(2), Bangalore – 560 048. Vs. Banglore. Pan: Ahlpr7578N Appellant Respondent Assessee By : Shri Kodhanda Pani, Ca : Shri Kiran .D, Addl. Cit Revenue By (Dr) Date Of Hearing : 13-04-2023 Date Of Pronouncement : 18-05-2023 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 24.11.2022 Passed By Nfac For Assessment Year 2015-16 On Following Grounds Of Appeal: “1. The Ld.Assessing Officer Erred In Passing The Assessment Order In The Manner In Which It Is Done On The Basis Of Presumptions, Assumptions & Surmises & Inferences, Conjecture & Hypothetical, Than On The Basis Of The Facts.

34 purva park ridge, Commissioner of Goshala Road, Income Tax, Garudachar palya, Circle – 5(3)(2), Bangalore – 560 048. Vs. Banglore. PAN: AHLPR7578N APPELLANT RESPONDENT Assessee by : Shri Kodhanda Pani, CA : Shri Kiran .D, Addl. CIT Revenue by (DR) Date of Hearing : 13-04-2023 Date of Pronouncement : 18-05-2023 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal

NABHIRAJ RATNA BALRAJ BY LEGAL HEIR B.R.RAKESH,BANGALORE vs. INCOME-TAX OFFICER, WARD-7(2)(1), BANGALORE

In the result the appeal of the assessee is allowed

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2016-17

gains arising on transfer of such asset. c) Even when section 50C did not have a provision similar to the one contained in the proviso to section 56(2)(vii)(b)(ii) or the one contained in sub-sections (3) and (4) of section 43CA of the Act, the Tribunal has in the following cases held that in a case

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 to 44DB of the Act. Section 28 specifies various incomes which shall be chargeable to income tax under this head. Thereafter, Section 29 provides that income referred to in Section

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 to 44DB of the Act. Section 28 specifies various incomes which shall be chargeable to income tax under this head. Thereafter, Section 29 provides that income referred to in Section