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

6 of 16 8.1 The learned AR before us filed a paper book running from pages 1 to 112 and a case law compilation having pages 174 to 205 and submitted that section 70(2) clearly permits set-off of short-term capital loss against income under the head “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

6,14,36,386 FY 20-21 Less: Exemption claimed u/s. 54 restricted to 71,67,207 Rs.71,67,207/- Less: Exemption claimed u/s. 54EC 50,00,000 Net Capital Gains on sale of villas for FY 20-21 4,92,69,179 As the assessee had declared a capital gains of Rs.4,74,72,475 in the ITR filed

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

6,14,36,386 FY 20-21 Less: Exemption claimed u/s. 54 restricted to 71,67,207 Rs.71,67,207/- Less: Exemption claimed u/s. 54EC 50,00,000 Net Capital Gains on sale of villas for FY 20-21 4,92,69,179 As the assessee had declared a capital gains of Rs.4,74,72,475 in the ITR filed

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

6 of 34\nSurvey charges\nEvaluation and speculation of JD\nJD Agreement\nDesign and inspection\n11,251\n1,05,150\n45,00,000\n5,61,800\n11,251\n1,05,150\n45,00,000\n5,61,800\n[C]\n1,12,92,691\n1,12,92,691\nTotal Long Term Capital Gains\n1/2 Share of assessee in Total Long\nTerm

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

6,89,11,624\nRs.89,15,48,164\n3.6 Accordingly, they stated that they would be offering capital\ngains for the assessment year 2018-19 on the above basis in course\nof assessment proceedings after receipt of notice.\n3.7 Both these persons had accordingly filed returns in response\nto notice u/s.153C of the Act offering capital gains by adopting

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

6,89,11,624\nRs.89,15,48,164\n3.6 Accordingly, they stated that they would be offering capital\ngains for the assessment year 2018-19 on the above basis in course\nof assessment proceedings after receipt of notice.\n3.7 Both these persons had accordingly filed returns in response\nto notice u/s.153C of the Act offering capital gains by adopting

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 4(1)(1), BANGALORE, BANGALORE vs. RAMESH NARAYANA REDDY (HUF), BANGALORE

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadavdcit, Circle - 4(1)(1) Ramesh Narayana Reddy (Huf) Room No. 230, 2Nd Floor #62, Sonnenahalli Bmtc Building, Koramangala Vs. Mahadevapura Bangalore 560095 Bangalore 560048 Pan – Aamhr4231A (Appellant) (Respondent) Assessee By: Shri V. Srinivasan, Advocate Revenue By: Shri Subramanian S., Jcit-Dr Date Of Hearing: 24.07.2024 Date Of Pronouncement: 30.07.2024 O R D E R Per: Prakash Chand Yadav, J.M. The Present Appeal Of The Revenue Challenges The Din & Order No. Itba/Nfac/S/2003-24/1061428431(1) Of The National Faceless Appeal Centre, Delhi [Cit(A)] Dated 23.02.2024 Passed Under Section 250 Of The Income Tax Act, 1961 (The Act) In Respect Of Assessment Year (Ay) 2020-21. 2. Aggrieved With The Order Of The Ld. Cit(A) The Revenue Has Come Up In Appeal Before Us & Raised The Following Grounds: - “The Ld. Addl. Cit(A) Has Erred In Deleting The Addition Of Rs. 1,18,01,752 As Deemed Rental Income On The Ground That There Was No Addition Made In The Case Of Other Two Co-Owners Of The Same Property For The Same Assessment Year. The Nfac Has Not Considered That The Assessments Of Three Different Co-Owners Were Completed In Faceless Manner. There Is No Algorithm For Allocation Of Cases Of Three Different Assessees Having Common Interest In A Single Property To A Single Assessing Officer For Assessment. Hence, Omission Of Addition In Cases Of Other Two Co-Owners Of The Property Wherein Assesses Is An Owner May Be Because

6 Ramesh Narayana Reddy (HUF) (Final) was received on 25.06.2019. The assessee has sold the flats. The flats, in question, are undoubtedly in the nature of capital assets. Since, the asset itself has come into existence only after final occupancy certificate is received, the asset does not qualify the holding period for the treatment of those assets as long term

M/S PARAMANAND AND SONS,BENGALURU vs. INCOME TAX OFFICER, WARD 5(2)(1), BENGALURU

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Years : 2020-21

6. A perusal of the above Legislative history reveals that the assessee has always been given an option to set off his losses against the income from capital gains. However, as per the provisions of sub-section

M/S. ATRIA WIND (KADAMBUR) PRIVATE LIMITED,BENGALUAU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(4), BENGALURU

In the result, appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year: 2017-18

6. Without further prejudice, the learned CIT [A] erred in holding that the conditions as laid down is Section 47[xiii] of the Act had been violated under the facts and in the circumstances of the appellant's case. 7. Without further prejudice, the learned CIT [A] ought to have appreciated that the NAV method for computation of capital gains

SHARADA MOHAN SHETTY,KARWAR vs. ITO, WARD-2, KARWAR

In the result, appeal of the assessee is partly allowed

Bench: Or During The Courses Of Appeal Hearing.” 2. The Brief Facts Of The Case Are That The Assessee Filed Return Of Income On 30/09/2015 For The Assessment Year 2015-16 Declaring Page 2 Of 16

section 54F, it is clear that the assessee is required to purchase within a period of one year before or two years after the date on which the transfer took place or constructed one residential house within a period of three years after the date of sale of capital asset. In the instant case, the assessee sold the capital asset

HANCHIPURA CHANNAIAH NANDAKISHORE,MAHALKSHMIPURAM vs. INCOME TAX OFFICER WARD INTL, TAXATION 1(2) BANGALORE, BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyit(It)A No.258/Bang/2025 Assessment Year : 2018-19 Hanchipura Channaiah Nandakishore 87, 2Nd Stage & Phase Mahalakshmipuram 2Nd Stage, 14Th Main, West Of Chord Ito Road Vs. Ward International Taxation 1(2) Mahalakshmipuram Bangalore Bangalore 560 086 Pan No :Blrpn0428A Appellant Respondent Appellant By : Sri Siddesh N Gaddi, A.R. Respondent By : Dr. Divya K.J., D.R. Date Of Hearing : 07.08.2025 Date Of Pronouncement : 04.11.2025

capital Gain required to be invested & therefore there is no question of investing any amount in CGAS. 6. The ld. D.R. Dr. K J Divya CIT on the other hand supported the order of the AO and submitted that as the assessee had not satisfied all the conditions laid down 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

6. Since the issue of validity of proceedings under Section 153C of the Act goes to the root of the matter of assessment framed under Section 153C of the Act has been set-aside to the record of the CIT(Appeals), we do not propose to go into the other issues raised by the assessee as well as the department

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

6. Since the issue of validity of proceedings under Section 153C of the Act goes to the root of the matter of assessment framed under Section 153C of the Act has been set-aside to the record of the CIT(Appeals), we do not propose to go into the other issues raised by the assessee as well as the department

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

6. Since the issue of validity of proceedings under Section 153C of the Act goes to the root of the matter of assessment framed under Section 153C of the Act has been set-aside to the record of the CIT(Appeals), we do not propose to go into the other issues raised by the assessee as well as the department

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

6. Since the issue of validity of proceedings under Section 153C of the Act goes to the root of the matter of assessment framed under Section 153C of the Act has been set-aside to the record of the CIT(Appeals), we do not propose to go into the other issues raised by the assessee as well as the department

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

6. Since the issue of validity of proceedings under Section 153C of the Act goes to the root of the matter of assessment framed under Section 153C of the Act has been set-aside to the record of the CIT(Appeals), we do not propose to go into the other issues raised by the assessee as well as the department

NAVJYOTI SHARMA,BANGALORE vs. DCIT ASMNT, BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

Capital Gain u/s.45 of the Act. 4. Aggrieved by the assessment completed u/s. 147 r.w.s. 144C(13) of the Act dated 12.12.2024, the assessee has filed the present appeal before this Tribunal. The assessee has also filed a paper book in support of his case. 5. Before us, the ld. A.R. of the assessee vehemently submitted that 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

6 of 8 10. On the merits of the case he submitted that the assessee’s short-term capital gain is supported by the Demat account, contract notes, bank statement and capital accounts of the assessee. And therefore the assessee has already offered the same income in the return of income but once again the addition has been made. Therefore