M/S. ENZEN GLOBAL SOLUTIONS PRIVATE LIMITED,BENGALURU vs. INCOME TAX OFFICER, WARD- 2(1)(4), BANGLAOORE

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

Bench: Shri N.V. Vasudevan & Ms. Padmavathy Sappeal Nos. & Appellant Respondent Assessment Year

section 433(e) of the Companies Act, 1956, to wind up the company on the ground that the company is unable to pay its debts. It was a case of the petitioners that they were holders of ITA Nos.2332, 2550/Bang/2019 Page 13 of 31 redeemable preference shares and despite exercising of option to redeem the preference shares, the company

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain consideration consideration acquisition offered to tax 352,599,441 3,084,915 2017-18 349,514,526 43,621,676 305,892,850 2018-19 218,214,035 1,780,301 216,433

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain consideration consideration acquisition offered to tax 352,599,441 3,084,915 2017-18 349,514,526 43,621,676 305,892,850 2018-19 218,214,035 1,780,301 216,433

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain consideration consideration acquisition offered to tax 352,599,441 3,084,915 2017-18 349,514,526 43,621,676 305,892,850 2018-19 218,214,035 1,780,301 216,433

MR.G.R.CHENNAKESHAVA REDDY,BANGALORE vs. INCOME TAX OFFICER, BANGALORE

In the result, the appeal of the assessee is dismissed

Bench: Shri Sunil Kumar Yadav & Shri A. K. Garodiaassessment Year : 2010-11

433/- but he allowed the exemption under section 54 of the Act on amount of investment of Rs.3,05,000/- incurred on the construction of the residential building. 5. Aggrieved, the assessee preferred an appeal before the Tribunal with the Page 4 of 5 submission that he be allowed deduction under section 54 of the Act and the capital gain

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 145 of the Income- tax Act, 1961 ('ITA') it is the choice of the taxpayer to follow any of the two recognized method of accounting and once the choice is made by the taxpayer of a system that is recognized by ICAI or by taxpayer of same class, taxpayer cannot be taken away from that class just

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 145 of the Income- tax Act, 1961 ('ITA') it is the choice of the taxpayer to follow any of the two recognized method of accounting and once the choice is made by the taxpayer of a system that is recognized by ICAI or by taxpayer of same class, taxpayer cannot be taken away from that class just

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 145 of the Income- tax Act, 1961 ('ITA') it is the choice of the taxpayer to follow any of the two recognized method of accounting and once the choice is made by the taxpayer of a system that is recognized by ICAI or by taxpayer of same class, taxpayer cannot be taken away from that class just

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

M/S. TATA ELXSI LIMITED,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, CIRCLE-7(1)(1), BANGALORE

capital gains and income from other\nsources. Insofar as income under the head 'profits and gains of business or\nprofessions' is concerned, provisions thereto are contained in Sections 28 to 44DB of\nthe Act. Section 28 specifies various incomes which shall be chargeable to income tax\nunder this head. Thereafter, Section 29 provides that income referred to in Section

CANARA BANK,BANGALORE vs. ADDL.C.I.T., BANGALORE

In the result, appeal by the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

433) held that in the context of deduction u/s 80E long term capital loss brought forward from earlier years has to be first set off against long term gains of current assessment year before deduction contemplated u/s 80T of the Act is allowed. The relief under the said Act is to be given only for the amount of long term

JCIT, BANGALORE vs. M/S CANARA BANK, BANGALORE

In the result, appeal by the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

433) held that in the context of deduction u/s 80E long term capital loss brought forward from earlier years has to be first set off against long term gains of current assessment year before deduction contemplated u/s 80T of the Act is allowed. The relief under the said Act is to be given only for the amount of long term

CANARA BANK,BANGALORE vs. JCIT, BANGALORE

In the result, appeal by the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

433) held that in the context of deduction u/s 80E long term capital loss brought forward from earlier years has to be first set off against long term gains of current assessment year before deduction contemplated u/s 80T of the Act is allowed. The relief under the said Act is to be given only for the amount of long term

JCIT, BANGALORE vs. M/S CANARA BANK, BANGALORE

In the result, appeal by the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

433) held that in the context of deduction u/s 80E long term capital loss brought forward from earlier years has to be first set off against long term gains of current assessment year before deduction contemplated u/s 80T of the Act is allowed. The relief under the said Act is to be given only for the amount of long term

ADDL.CI.T., BANGALORE vs. M/S CANARA BANK, BANGALORE

In the result, appeal by the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

433) held that in the context of deduction u/s 80E long term capital loss brought forward from earlier years has to be first set off against long term gains of current assessment year before deduction contemplated u/s 80T of the Act is allowed. The relief under the said Act is to be given only for the amount of long term

M/S. CANARA BANK,BANGALORE vs. ACIT, BANGALORE

In the result, appeal by the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

433) held that in the context of deduction u/s 80E long term capital loss brought forward from earlier years has to be first set off against long term gains of current assessment year before deduction contemplated u/s 80T of the Act is allowed. The relief under the said Act is to be given only for the amount of long term

CANARA BANK,BANGALORE vs. ADDL. C.I.T., BANGALORE

In the result, appeal by the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

433) held that in the context of deduction u/s 80E long term capital loss brought forward from earlier years has to be first set off against long term gains of current assessment year before deduction contemplated u/s 80T of the Act is allowed. The relief under the said Act is to be given only for the amount of long term