SMT. K.R.YASHODHA,BANGALORE vs. INCOME-TAX OFFICER, BANGALORE

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

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boazassessment Year : 2007-08

capital gain take the assistance of provisions of section 50D of the IT Act hereinafter called as an Act which

MR.HEMANTH PUTTANNACHETTY VISWANATH ,BANGALORE vs. INCOME TAX OFFICER WARD-5(2)(4), BANGALORE

In the result, appeal by the assessee is treated as allowed for statistical purpose

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year : 2015-16 Shri. Hemanth Puttannachetty Viswanath, Vs. The Income Tax Officer, No. G-2, Brigade Hill View Apartment, Ward - 5(2)(4), Gavipuram, K. G. Nagar, Behind Rama Bengaluru. Krishna Ashram, Bengaluru – 560 019. Pan : Adspv 5271 H Appellant Respondent Appellant By : Shri. Rajeev Nulvi, Advocate Respondent By : Shri. Sankar Ganesh, Sr. Dr(Itat), Bengaluru Date Of Hearing : 06.09.2021 Date Of Pronouncement : 08.09.2021 O R D E R Per N. V. Vasudevan: This Is An Appeal By The Assessee Against The Order Dated 28.09.2018 Of Cit(A)-5, Bengaluru, Relating To Assessment Year 2015-16. 2. The Only Issue That Arises For Consideration In This Appeal Is As To Whether The Revenue Authorities Were Justified In Bringing To Tax Long Term Capital Gain (Ltcg) At Rs.1,50,35,192/- On A Protective Basis In The Hands Of The Assessee.

section 50D of the Income-tax Act, 1961. 12. The CIT(A) however confirmed the order of the AO. Hence this appeal by the assessee before the Tribunal. It was submitted by the learned counsel for the assessee that the CIT(A) though admitted that there was a Partition Deed in the year 1983 and also the capital gains

MR. VIVEKANAND PADEGAL,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(2)(1), BENGALURU

In the result, assessee’s appeal is allowed

Bench: Shri A. K. Garodia & Smt. Beena Pillai

section 50D by Finance Act, 2012, as per which it is provided that if the consideration received or accruing as a result of the transfer of a capital asset by an assessee is not ascertainable or cannot be determined, then, for the purpose of computing income chargeable to tax as capital gains

SRI. D. K SHIVAKUMAR ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BENGALURU

Bench: Shri Laxmi Prasad Sahu & Shri Soundarajan Kassessment Year : 2018-19

Section 69A of the Act.The addition is made out on basis of loose sheets of documents, which does not come under the ambit of ‘books of entry’ or as ‘evidence’ under the Indian Evidence Act. Reliance is placed on following decisions: 57  CBI Vs. V.C. Shukla (1998) 3 SCC 410  Common Cause and others Vs. Union of India

M/S. UNITED SPIRITS LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

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

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadaleit(Tp)A No.489/Bang/2017 (Assessment Year: 2012-13) M/S. United Spirits Limited, Ub Towers, No.24, Vittal Mallya Road, Bangalore-560 001 ….Appellant Vs. Dy. Commissioner Of Income Tax, Circle 7(1)(1), Bangalore. ……Respondent. Assessee By: Shri Perci Pardiwala, Senior Advocate & Shri Ketan Ved, C.A. Revenue By: Shri Bipin C.N, Jcit (D.R) Date Of Hearing : 06.03.2020. Date Of Pronouncement : 29.05.2020. O R D E R Per Shri B.R. Baskaran, A.M. : The Assessee Has Filed This Appeal Challenging The Assessment Order Dated 31-01-2017 Passed By The Assessing Officer For Assessment Year 2012-13 Passed U/S 143(3) R.W.S 144C(13) Of The Act.

Gains) and 56 (Income from other sources). Even income arising from international transactions between AE must satisfy the test of income under the Act and must find its home in one of the above heads i.e., charging provisions.” Accordingly, the Ld A.R submitted that the provisions of Chapter X cannot be given primacy over the charging sections. Under charging sections

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

In the result, ground 7 is allowed for statistical purposes

Bench: Shri George George K, Jm & Shri Laxmi Prasad Sahu, Am It(Tp)A No.3091/Bang/2018 : Asst.Year 2014-2015 M/S.United Spirits Limited The Joint Commissioner Of 6Th Floor, Ub Towers, Income-Tax, Special Range-7 V. Bangalore. # 24 Vittal Mallya Road Bangalore – 560 001. Pan : Aaccm8043J. (Appellant) (Respondent)

50D, 45(4) contain 7 IT(TP)A No.3091/Bang/2018 M/s.United Spirits Limited. deeming provisions. While computing total income, the real income is adjusted by including therein various legal fictions/deeming provisions incorporated in the Income tax Act. After this process only, the total income is arrived at. Sec.92(1) states that any “income” arising from an international transaction shall be computed

M/S. UNITED SPIRITS LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BENGALURU

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

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am It(Tp)A No.2701/Bang/2017 : Asst.Year 2013-2014 M/S.United Spirits Limited The Deputy Commissioner Of Ub Towers, Income-Tax, Circle 7(1)(1) V. No.24 Vittal Mallya Road Bangalore. Bangalore – 560 001. Pan : Aaccm8043J. (Appellant) (Respondent) Appellant By : Sri.Percy Pardiwala, Senior Advocate Respondent By : Sri.Pradeep Kumar, Cit-Dr Date Of Pronouncement : 05.04.2022 Date Of Hearing : 24.03.2022 O R D E R Per George George K, Jm : This Appeal At The Instance Of The Assessee Is Directed Against Final Assessment Order Dated 12.10.2017 Passed U/S 143(3) R.W.S. 144C(13) Of The I.T.Act. The Relevant Assessment Year Is 2013-2014. 2. The Brief Facts Of The Case Are As Follows: The Assessee Is A Company Engaged In The Manufacture & Sale Of Alcoholic Beverage. The Assessee Filed Its Return Of Income For The Assessment Year 2013-2014 On 28.11.2013 Which Was Selected For Scrutiny Assessment. During The Course Of Assessment, The Assessee’S Case Was Also Referred To The Transfer Pricing Officer (Tpo). The Tpo Vide Order Dated 26.10.2016, Recommended Transfer Pricing Adjustments. The A.O., Thereafter, Passed A Draft Assessment Order Dated 30.12.2016. 2 It(Tp)A No.2701/Bang/2017 M/S.United Spirits Limited.

50D, 45(4) contain deeming provisions. While computing total income, the real income is adjusted by including therein various legal fictions/deeming provisions incorporated in the Income tax Act. After this process only, the total income is arrived at. Sec.92(1) states that any “income” arising from an international transaction shall be computed having regard to the arms’ length price