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250 results for “capital gains”+ Section 36(1)(ii)clear

Sorted by relevance

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Key Topics

Section 143(3)67Addition to Income64Disallowance53Section 14851Section 4035Section 133A35Deduction33Section 25026Section 14A26

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BENGALURU, BENGALURU vs. CANARA BANK, BENGALURU

In the result, appeal of the revenue in ITA No

ITA 297/BANG/2024[2018-19]Status: DisposedITAT Bangalore17 Jan 2025AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessmentyear: 2017-18

For Appellant: Sri Abharana &Anantham, A.RsFor Respondent: Ms. Neera Malhotra, D.R
Section 115JSection 143(3)Section 14ASection 234BSection 250

capital gain tax can be levied. " 53. Concluded at page 12 para 21 as under: "27. In the result, we hold that sub-section 115JB as it stood prior to its amendment by virtue of Finance Act, 2012, would not be applicable to a banking company. We answer the question No. 2 in favour of the assessee and against

Showing 1–20 of 250 · Page 1 of 13

...
Section 14722
Section 234B21
Transfer Pricing20

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 2(1), MANGALORE vs. KARNATAKA BANK LIMITED., MANGALORE

In the result, the appeal of the assessee is partly allowed for statistical purposes and the revenue’s appeal is dismissed

ITA 161/PAN/2019[2015-16]Status: DisposedITAT Bangalore30 Sept 2024AY 2015-16

Bench: Shri Laxmi Prasad Sahu & Shri Soundararajan K., Judciial Member Assessment Year : 2015-16

For Appellant: Shri Ananthan S. & Smt. Lalitha Rameswaran, CAsFor Respondent: Shri D.K. Mishra, CIT(DR)(ITAT), Bengaluru
Section 115JSection 14ASection 234BSection 36(1)(vii)Section 36(1)(viia)Section 40Section 41(4)

gainfully refer to the “MEMORANDUM EXPLAINING FINANCE BILL 2013”, which brings out the intention of the Parliament in inserting Explanation-2 in sec. 36(1)(vii) of the Act. It is extracted below:- “Clarification for amount to be eligible for deduction as bad debts in case of banks:- Under the existing provisions of section 36(1)(viia) of the Income

M/S. KARNATAKA BANK LIMITED,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX. CIRCLE- 2(1), MANGALURU

In the result, the appeal of the assessee is partly allowed for statistical purposes and the revenue’s appeal is dismissed

ITA 1107/BANG/2019[2015-16]Status: DisposedITAT Bangalore30 Sept 2024AY 2015-16

Bench: Shri Laxmi Prasad Sahu & Shri Soundararajan K., Judciial Member Assessment Year : 2015-16

For Appellant: Shri Ananthan S. & Smt. Lalitha Rameswaran, CAsFor Respondent: Shri D.K. Mishra, CIT(DR)(ITAT), Bengaluru
Section 115JSection 14ASection 234BSection 36(1)(vii)Section 36(1)(viia)Section 40Section 41(4)

gainfully refer to the “MEMORANDUM EXPLAINING FINANCE BILL 2013”, which brings out the intention of the Parliament in inserting Explanation-2 in sec. 36(1)(vii) of the Act. It is extracted below:- “Clarification for amount to be eligible for deduction as bad debts in case of banks:- Under the existing provisions of section 36(1)(viia) of the Income

M/S SYNDICATE BANK,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1, UDUPI

In the result, appeal of the revenue in ITA No

ITA 1219/BANG/2019[2015-16]Status: DisposedITAT Bangalore08 Aug 2024AY 2015-16

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

For Appellant: Shri S. Ananthan, A.RFor Respondent: Ms. Neera Malhotra, D.R
Section 115JSection 36(1)(vii)Section 36(1)(viia)

ii) Assessee is not a company incorporated under the Companies Act, 1956, nor recognized under section 3 of the Companies Act. (iii) The second proviso to sub-section (1) of section 129 (earlier provision 211) of the Companies Act, 2013 is not applicable to the assessee. (iv) Under section 11 of the Banking Companies (Acquisition and Transfer of Undertaking

CANARA BANK,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BANGALORE, BENGALURU

In the result, revenue’s appeal in ITA No

ITA 111/BANG/2024[2015-16]Status: DisposedITAT Bangalore10 Jun 2024AY 2015-16

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

For Appellant: Sri S. Ananthan, A.RFor Respondent: Ms. Neera Malhotra, D.R
Section 14Section 147Section 14ASection 154

gains of business or profession" (before making any deduction under its clause) carried to such reserve account" 22. Section 36(1)(viii) envisages a transfer to a special reserve in order to claim deduction under the said section. The issues to be considered here are (i) Whether the amount transferred to any reserve can be considered for deduction u/s.36(1

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-2(1)(1), BENGALURU, BENGALURU vs. CANARA BANK, BENGALURU

In the result, revenue’s appeal in ITA No

ITA 716/BANG/2024[2015-16]Status: DisposedITAT Bangalore10 Jun 2024AY 2015-16

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

For Appellant: Sri S. Ananthan, A.RFor Respondent: Ms. Neera Malhotra, D.R
Section 14Section 147Section 14ASection 154

gains of business or profession" (before making any deduction under its clause) carried to such reserve account" 22. Section 36(1)(viii) envisages a transfer to a special reserve in order to claim deduction under the said section. The issues to be considered here are (i) Whether the amount transferred to any reserve can be considered for deduction u/s.36(1

M/S VIJAYA BANK ,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX LTU , BANGALORE

Accordingly the grounds raised by the revenue is allowed for statistical purposes

ITA 321/BANG/2019[2015-16]Status: DisposedITAT Bangalore25 Apr 2023AY 2015-16

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Bank Of Baroda Vs. Addl. Cit, Ltu, (Erstwhile Vijaya Bank) Bmtc Building 7Th Floor, Central Accounts 6Th Block, Koramangala Bengaluru 560095 Dept., 41/2, M.G. Road Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Acit, Circle - 2(1)(1) Vs. M/S. Bank Of Baroda Room No. 561, 5Th Floor (Erstwhile Vijaya Bank) Aayakar Bhavan 7Th Floor, Central Accounts M.K. Road Dept., 41/2, M.G. Road Mumbai 400020 Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Assessee By: Shri Ananthan, Ca& Smt. Lalitha Rameswaran, Ca Revenue By: Shri G. Manoj Kumar, Cit-Dr Date Of Hearing: 29.03.2023 Date Of Pronouncement: 25.04.2023 M/S. Bank Of Baroda

For Appellant: Shri Ananthan, CA&For Respondent: Shri G. Manoj Kumar, CIT-DR
Section 115JSection 14ASection 194JSection 36Section 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)

gains of business or profession" (before making any deduction under its clause) carried to such reserve account" 22. Section 36(1)(viii) envisages a transfer to a special reserve in order to claim deduction under the said section. The issues to be considered here are (i) Whether the amount transferred to any reserve can be considered for deduction u/s.36(1

ADDL/JOINT COMMISSIONER OF INCOME TAX (LTU) , BANGALORE vs. M/S VIJAYA BANK , BANGALORE

Accordingly the grounds raised by the revenue is allowed for statistical purposes

ITA 528/BANG/2019[2015-16]Status: DisposedITAT Bangalore25 Apr 2023AY 2015-16

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Bank Of Baroda Vs. Addl. Cit, Ltu, (Erstwhile Vijaya Bank) Bmtc Building 7Th Floor, Central Accounts 6Th Block, Koramangala Bengaluru 560095 Dept., 41/2, M.G. Road Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Acit, Circle - 2(1)(1) Vs. M/S. Bank Of Baroda Room No. 561, 5Th Floor (Erstwhile Vijaya Bank) Aayakar Bhavan 7Th Floor, Central Accounts M.K. Road Dept., 41/2, M.G. Road Mumbai 400020 Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Assessee By: Shri Ananthan, Ca& Smt. Lalitha Rameswaran, Ca Revenue By: Shri G. Manoj Kumar, Cit-Dr Date Of Hearing: 29.03.2023 Date Of Pronouncement: 25.04.2023 M/S. Bank Of Baroda

For Appellant: Shri Ananthan, CA&For Respondent: Shri G. Manoj Kumar, CIT-DR
Section 115JSection 14ASection 194JSection 36Section 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)

gains of business or profession" (before making any deduction under its clause) carried to such reserve account" 22. Section 36(1)(viii) envisages a transfer to a special reserve in order to claim deduction under the said section. The issues to be considered here are (i) Whether the amount transferred to any reserve can be considered for deduction u/s.36(1

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(1)(1), BENGALURU, BENGALURU vs. NUTRICRAFT INDIA PRIVATE LIMITED, BENGALURU

In the result appeal filed by the learned assessing officer is partly allowed for statistical purposes

ITA 298/BANG/2024[2017-18]Status: DisposedITAT Bangalore16 Dec 2025AY 2017-18

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

For Appellant: Shri Muthu Shankar, CIT(DR)(ITAT), BengaluruFor Respondent: Smt. Suman Lunkar, CA
Section 143(3)Section 148ASection 153CSection 194C(6)Section 194C(7)Section 36(1)(ii)Section 40

gained in their field, experience rendered with the Company and scores of other factors. It is further noted that the Directors have included bonus and remunerations paid by the appellant for taxation purpose in their individual returns of income. The appellant has also placed reliance on the decisions rendered in cases viz., ITAT-Mandovi Motors

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)

36. We have heard the rival contentions and perused the material available on record. The issue under consideration relates to denial of deduction U/s 54F of the Act to the assessee. It would be appropriate to refer to the provisions of Section 54F of the Act, relevant for the impugned assessment year, which reads as under: Page

M/S. RMZ HOTELS PRIVATE LIMITED,BANGALORE vs. NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, the appeal of the assessee is allowed

ITA 954/BANG/2022[2018-19]Status: DisposedITAT Bangalore22 Feb 2023AY 2018-19

Bench: Shri Chandra Poojariassessment Year: 2018-19

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri Ganesh R. Ghale, Standing Counsel for Department
Section 234Section 255Section 255(3)Section 36

Section 36(1)(iii) of the Act. Such borrowings to that extent cannot possibly be held for the purpose of business but for supplementing the cash diverted without deriving any benefit out of it. Accordingly, the assessee will not be entitled to claim deduction of the interest on the borrowings to the extent those are diverted to sister concerns

M/S. CENTURY SILICON CITY,BANGALORE vs. DCIT, CIRCLE-1(2)(1, BANGALORE

In the result, the appeals of the assessees are allowed

ITA 1101/BANG/2022[2014-15]Status: DisposedITAT Bangalore10 Mar 2023AY 2014-15

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri K. Sankar Ganesh, D.R
Section 143(3)

section 36(1)(iii), as the expenditure was not laid out wholly and exclusively for the purpose of business. 3.2 Same is the position in the case of M/s. Century Silicon City, Bangalore. Against this, assessees carried on appeals before the ld. CIT(A) in all these assessment years. The ld. CIT(A) observed that there is no economic rationale

M/S. CENTURY SILICON CITY,BANGALORE vs. DCIT, CIRCLE-1(2)(1, BANGALORE

In the result, the appeals of the assessees are allowed

ITA 1102/BANG/2022[2015-16]Status: DisposedITAT Bangalore10 Mar 2023AY 2015-16

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri K. Sankar Ganesh, D.R
Section 143(3)

section 36(1)(iii), as the expenditure was not laid out wholly and exclusively for the purpose of business. 3.2 Same is the position in the case of M/s. Century Silicon City, Bangalore. Against this, assessees carried on appeals before the ld. CIT(A) in all these assessment years. The ld. CIT(A) observed that there is no economic rationale

CENTURY SHELTORS,BANGALORE vs. ACIT, CIRCLE-2(2), BANGALORE

In the result, the appeals of the assessees are allowed

ITA 1073/BANG/2022[2013-14]Status: DisposedITAT Bangalore10 Mar 2023AY 2013-14

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri K. Sankar Ganesh, D.R
Section 143(3)

section 36(1)(iii), as the expenditure was not laid out wholly and exclusively for the purpose of business. 3.2 Same is the position in the case of M/s. Century Silicon City, Bangalore. Against this, assessees carried on appeals before the ld. CIT(A) in all these assessment years. The ld. CIT(A) observed that there is no economic rationale

CENTURY SHELTORS,BANGALORE vs. ACIT, CIRCLE-2(2), BANGALORE

In the result, the appeals of the assessees are allowed

ITA 1074/BANG/2022[2014-15]Status: DisposedITAT Bangalore10 Mar 2023AY 2014-15

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri K. Sankar Ganesh, D.R
Section 143(3)

section 36(1)(iii), as the expenditure was not laid out wholly and exclusively for the purpose of business. 3.2 Same is the position in the case of M/s. Century Silicon City, Bangalore. Against this, assessees carried on appeals before the ld. CIT(A) in all these assessment years. The ld. CIT(A) observed that there is no economic rationale

CENTURY SHELTORS,BANGALORE vs. ACIT, CIRCLE-2(2), BANGALORE

In the result, the appeals of the assessees are allowed

ITA 1075/BANG/2022[2015-16]Status: DisposedITAT Bangalore10 Mar 2023AY 2015-16

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri K. Sankar Ganesh, D.R
Section 143(3)

section 36(1)(iii), as the expenditure was not laid out wholly and exclusively for the purpose of business. 3.2 Same is the position in the case of M/s. Century Silicon City, Bangalore. Against this, assessees carried on appeals before the ld. CIT(A) in all these assessment years. The ld. CIT(A) observed that there is no economic rationale

M/S. CENTURY SILICON CITY,BANGALORE vs. DCIT, CIRCLE-1(2)(1, BANGALORE

In the result, the appeals of the assessees are allowed

ITA 1100/BANG/2022[2013-14]Status: DisposedITAT Bangalore10 Mar 2023AY 2013-14

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri K. Sankar Ganesh, D.R
Section 143(3)

section 36(1)(iii), as the expenditure was not laid out wholly and exclusively for the purpose of business. 3.2 Same is the position in the case of M/s. Century Silicon City, Bangalore. Against this, assessees carried on appeals before the ld. CIT(A) in all these assessment years. The ld. CIT(A) observed that there is no economic rationale

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)

36, as sub-section (1) of section 139] [***], the case may be, shall not apply in relation to furnishes to the [Assessing] Officer a any such allowance or deduction; declaration in writing that the provisions of (ii) no loss referred to in sub-section (1) of this section may not be made applicable to section 72 or sub-section (1

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

36,726 D-4 59,322 9,887 49,435 14,831 34,605 TOTAL 71,331 Thus, the AO completed the assessment proceedings on a total assessed income of Rs.5,26,62,915/- against the return income ofRs.5,07,94,880/- under section 143(3) of the Act vide order dated 30/12/2022. 4. Aggrieved by the assessment order passed

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

36,726 D-4 59,322 9,887 49,435 14,831 34,605 TOTAL 71,331 Thus, the AO completed the assessment proceedings on a total assessed income of Rs.5,26,62,915/- against the return income ofRs.5,07,94,880/- under section 143(3) of the Act vide order dated 30/12/2022. 4. Aggrieved by the assessment order passed