M/S HARMAN CONNECTED SERVICES CORPORATION INDIA PRIVATE LIMITED ,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX RANGE-12 , BANGALORE

In the result, the appeal filed by the revenue is dismissed

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1980 To 1982/Bang/2018 Assessment Years: 2009-10, 2010-11 & 2012-13

9,98,10,412/- pertains to realised foreign exchange gains, i.e. the gain arising on account of differences in the foreign exchange rates as on the date of realization of money into the EEFC account and the rate as on the date of withdrawal of the balances from such account or transfer of the same into current account. The remaining

M/S. UNITED BREWERIES LIMITED,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX, SPECIAL RANGE-7, BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

40A(2) of the Act:  Kirloskar Oil Engines Vs JCIT, ITA Nos. 61 & 406/PUN/2015 (Pune ITAT)  The Bombay Samachar Pvt. Ltd., ITA no. 7171/Mum./2010 and others (Bombay ITAT) 28.1 The ld. D.R. submitted that there was no evidence to show that the Executive Chairman Mr. Vijay Mallya rendered any services to the assessee so as to give commission

WIPRO LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

Gain". The assessee did not receive the sum in question for giving up any source of income as the assessee was free to exploit independently owned IPR as well as Foreground information and therefore the argument that the sum received is capital receipt for losing a source of income and therefore not chargeable to tax, is devoid of any merits

SRI MUNIRAJU KEMPANNA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(4), BANGALORE

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gains. 34. Hon'ble Supreme Court in Malabar Industrial Co. Ltd. v. CIT (supra) held that: "There can be no doubt that the provision cannot be invoked to correct each and every type of mistake or error committed by the Assessing Officer; it is only when an order is erroneous that the section will be attracted. An incorrect assumption

SRI MUNIRAJU KEMPANNA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(4), BANGALORE

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gains. 34. Hon'ble Supreme Court in Malabar Industrial Co. Ltd. v. CIT (supra) held that: "There can be no doubt that the provision cannot be invoked to correct each and every type of mistake or error committed by the Assessing Officer; it is only when an order is erroneous that the section will be attracted. An incorrect assumption

SRI MUNIRAJU KEMPANNA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(4), BANGALORE

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gains. 34. Hon'ble Supreme Court in Malabar Industrial Co. Ltd. v. CIT (supra) held that: "There can be no doubt that the provision cannot be invoked to correct each and every type of mistake or error committed by the Assessing Officer; it is only when an order is erroneous that the section will be attracted. An incorrect assumption

SRI MUNIRAJU KEMPANNA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(4), BANGALORE

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gains. 34. Hon'ble Supreme Court in Malabar Industrial Co. Ltd. v. CIT (supra) held that: "There can be no doubt that the provision cannot be invoked to correct each and every type of mistake or error committed by the Assessing Officer; it is only when an order is erroneous that the section will be attracted. An incorrect assumption

SRI MUNIRAJU KEMPANNA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(4), BANGALORE

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gains. 34. Hon'ble Supreme Court in Malabar Industrial Co. Ltd. v. CIT (supra) held that: "There can be no doubt that the provision cannot be invoked to correct each and every type of mistake or error committed by the Assessing Officer; it is only when an order is erroneous that the section will be attracted. An incorrect assumption

SRI MUNIRAJU KEMPANNA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(4), BANGALORE

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gains. 34. Hon'ble Supreme Court in Malabar Industrial Co. Ltd. v. CIT (supra) held that: "There can be no doubt that the provision cannot be invoked to correct each and every type of mistake or error committed by the Assessing Officer; it is only when an order is erroneous that the section will be attracted. An incorrect assumption

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

In the result, the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

9 of 26 Distribution Tax (DDT) in the hands of the company (in respect of deemed dividend under section 2(22)(e)). 3.4 The ld. CIT(A) observed that the distinction between legitimate tax planning and use of colourable devices has been summed up by Hon'ble Supreme Court, in the landmark judgement delivered by five-judge bench in case

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

In the result, the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

9 of 26 Distribution Tax (DDT) in the hands of the company (in respect of deemed dividend under section 2(22)(e)). 3.4 The ld. CIT(A) observed that the distinction between legitimate tax planning and use of colourable devices has been summed up by Hon'ble Supreme Court, in the landmark judgement delivered by five-judge bench in case

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

In the result, the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

9 of 26 Distribution Tax (DDT) in the hands of the company (in respect of deemed dividend under section 2(22)(e)). 3.4 The ld. CIT(A) observed that the distinction between legitimate tax planning and use of colourable devices has been summed up by Hon'ble Supreme Court, in the landmark judgement delivered by five-judge bench in case

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

In the result, the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

9 of 26 Distribution Tax (DDT) in the hands of the company (in respect of deemed dividend under section 2(22)(e)). 3.4 The ld. CIT(A) observed that the distinction between legitimate tax planning and use of colourable devices has been summed up by Hon'ble Supreme Court, in the landmark judgement delivered by five-judge bench in case

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

In the result, the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

9 of 26 Distribution Tax (DDT) in the hands of the company (in respect of deemed dividend under section 2(22)(e)). 3.4 The ld. CIT(A) observed that the distinction between legitimate tax planning and use of colourable devices has been summed up by Hon'ble Supreme Court, in the landmark judgement delivered by five-judge bench in case

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

In the result, the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

9 of 26 Distribution Tax (DDT) in the hands of the company (in respect of deemed dividend under section 2(22)(e)). 3.4 The ld. CIT(A) observed that the distinction between legitimate tax planning and use of colourable devices has been summed up by Hon'ble Supreme Court, in the landmark judgement delivered by five-judge bench in 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

CHINNASWAMY SUNDER RAJU,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(4), BENGALURU

In the result the appeal of the assessee is partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyassessment Year : 2017-18

9. The additional grounds are admitted, and we now proceed to adjudicate the same. The three additional grounds, which go the root of the matter, challenge the very assumption of jurisdiction u/s 153A for the impugned assessment year. 10. Additional Ground No.3 It is also important for us to adjudicate the third additional ground of appeal, before we address

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