GOBINDRAM CHANDRAMANI VIVEK,BANGALORE vs. INCOME TAX OFFICER - WARD 1(1), BANGALORE, BANGALORE

In the result, the appeal of the assessee is allowed for statistical purposes, in the manner indicated in this order

Bench: Mrs. Beena Pillai & Shri Ramit Kochar

Capital Gain Account Scheme’ with bank within the due date as prescribed under section 139(1) of the Act, which as per ld. JCIT DR , the assessee failed to do so. Prayers were made by ld. JCIT DR to deny deduction under Section 54 of the Act. At this stage, the judgment and order of the Constitutional Bench

M/S JAICO AUTOMOBILE ENGINEERING COMPANY PVT LTD ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-11(5), BANGALORE

In the result, the appeal by the assessee is dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2007-08

Section 2(47)(v) of the Act cannot be applied to the facts of the present case. The judgment of the Hon’ble High Court of Karnataka in the case of CIT v. Dr. T.K. Dayalu (supra) will have no application and capital gain arises only in AY 2008-09 Page

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

capital gain taxable at normal rate Rs. 58,95,682/- (Rs. 63,96,143 minus brought forward loss of Rs. 5,00,461) D. Interest Income Rs. 1,16,275/- Total (A+B+C+D) Rs. 68,81,000/- 4.2 Further, the assessee against the taxable income at normal slab rate of Rs. 68,81,000/- claimed deduction under section

SMT. SAVITRI KADUR,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, BANGALORE

In the result, the appeal of the assessee is allowed to the extent indicated above

Bench: Shri N.V. Vasudevan & Shri Jason P Boazassessment Year : 2008-09

section 47. Therefore, following this decision, this question has to be and is answered in favour of the assessee and against the Revenue.” 26. The decision in the case of Tribhuvandas G.Patel (supra) is a case where the deed of reconstitution specifically referred to release of rights of the outgoing partners in the assets of the partnership and further

SRI KAMANAHALLI PILLA REDDY NAGESH,BANGALORE vs. INCOME TAX OFFICER, WARD- 4(3)(5), BANGALORE

Accordingly, this ground of the assessee is allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2014-15 Shri Kamanahalli Pilla Reddy Nagesh, Kamanahalli Village, Kagur The Income Tax Post, Officer, Sarjapura Road, Ward – 4 [3] [5], Anekal Taluk, Bangalore. Vs. Bangalore – 562 125. Pan: Adfpn8365H Appellant Respondent Assessee By : Shri Guruswamy, Itp : Shri V.S. Chakrapani, Cit- Revenue By Dr Date Of Hearing : 01-06-2022 Date Of Pronouncement : 21-06-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 28.03.2019 Passed By Ld.Cit(A)-9, Bangalore For A.Y. 2014-15 On The Following Grounds Of Appeal: “1. The Orders Of The Authorities Below In So Far As They Are Against The Appellant, Are Opposed To Law, Equity, Weight Of Evidence, Probabilities, Facts & Circumstances Of The Case. 2. The Learned Cit[A] Is Not Justified In Upholding The Assessment Order Passed U/S. 143[3] Of The Act Despite The Fact That No Valid Notice U/S.143[2] Of The Act Was Served

sections 80 and 84 of the Karnataka Land Reforms Act, 1961, the earlier Bench had recorded its findings as under: "37 .............................................................................................. ..... .......... (On page 22) ............................................................ Coming to the instant case of the assessee, it is not disputed that in the revenue records, the entry is not changed, it continues as agricultural land. According to the revenue, the intention and purpose

DIVYA DINESH ,BENGALURU vs. DCIT, CIRCLE-7(1)(1), BANGALORE

In the result appeal of the assessee is allowed

capital gain taxable at normal rate\nRs. 58,95,682/-\n(Rs. 63,96,143 minus brought forward loss of Rs. 5,00,461)\nD. Interest Income\nRs. 1,16,275/-\nTotal (A+B+C+D)\nRs. 68,81,000/-\n4.2 Further, the assessee against the taxable income at normal slab\nrate of Rs. 68,81,000/- claimed deduction under

CHINNAPPA ANTHONAPPA,BANGALORE vs. ACIT, BANGALORE

In the result, the appeal by the assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2010-11

section 54B of the Act, capital gain had to be utilised in purchase of another agricultural land and the fact that assessee had paid the entire sum of Rs.4,68

MR K. P. MANJUNATHA REDDY,BANGALORE vs. THE INCOME TAX OFFICER, WARD 4(3)(2), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2014-15

sections 80 and 84 of the Karnataka Land Reforms Act, 1961, the earlier Bench had recorded its findings as under: "37 ............................................................................................... .... .......... (On page 22) ............................................................ Coming to the instant case of the assessee, it is not disputed that in the revenue records, the entry is not changed, it continues as agricultural land. According to the revenue, the intention and purpose

LAXMIPAT DUDHERIA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

gains declared by the assessee from transfer of shares of M/s.Fact Enterprises Ltd of Rs.5,109/-u/s 68 of the IT Act. 18. That the authorities below erred in resorting to section 68 of the Act. 19. That the authorities below erred in refusing to grant the beneficial treatment provided under the Act of the Capital

LAXMIPAT DUDHERIA,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

gains declared by the assessee from transfer of shares of M/s.Fact Enterprises Ltd of Rs.5,109/-u/s 68 of the IT Act. 18. That the authorities below erred in resorting to section 68 of the Act. 19. That the authorities below erred in refusing to grant the beneficial treatment provided under the Act of the Capital

LAXMIPAT DUDHERIA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

gains declared by the assessee from transfer of shares of M/s.Fact Enterprises Ltd of Rs.5,109/-u/s 68 of the IT Act. 18. That the authorities below erred in resorting to section 68 of the Act. 19. That the authorities below erred in refusing to grant the beneficial treatment provided under the Act of the Capital

LAXMIPAT DUDHERIA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

gains declared by the assessee from transfer of shares of M/s.Fact Enterprises Ltd of Rs.5,109/-u/s 68 of the IT Act. 18. That the authorities below erred in resorting to section 68 of the Act. 19. That the authorities below erred in refusing to grant the beneficial treatment provided under the Act of the Capital

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 4(2)(1), BANGALORE vs. M/S. N G BALU REDDY HUF, BANGALORE

In the result, the appeal of the Revenue is allowed

Bench: Shri Chandra Poojari & Shri George George Kassessment Year : 2009-10

68:32 comes to Page 4 of 35 Rs.6,69,12,000/-, 50% being the assessee's share comes to Rs.3,34,56,000/-. The capital gains assessable in the capacity of HUF comes to Rs.3,34,56,000/-. 5. On going through the return of income filed by the assessee it is found that the assessee has not offered

TYCO FIRE AND SECURITY INDIA PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Shri N. V. Vasudevan & Shri Chandra Poojariit(Tp)A No.270/Bang/2021 Assessment Year : 2016-17 Acit, M/S. Tyco Fire & Security India Private Limited, Vs. D-601, Rmz Centennial, Circle - 7(1)(1), Kundalahalli Main Road, Bengaluru. Bengaluru – 560 048. Pan : Aabct 0087 C Appellant Respondent Assessee By : Shri. Rajan Vora, Ca Revenue By : Shri. Sumer Singh Meena, Cit(Dr)(Itat), Bengaluru Date Of Hearing : 27/11.09.2022 Date Of Pronouncement : 28.11.2022 O R D E R Per N V Vasudevan

capital loss on sale of shares as claimed by the Assessee and hold that the transaction of sale of shares deserves to be ignored and no loss can be determined nor can any short term gain be taxed. Thus the grounds relating to short term loss/gain on sale of shares are treated as partly allowed. 54. Ground No.23

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

section 47(xiii) of the Act. The ld. CIT(A) had dismissed the appeal and confirmed the addition made under the head capital gains and in respect of the ground No.6, which relates to the levy of interest u/s 234B & 234C of the Act, the ld. CIT(A) had remitted the issue to the file of AO for recomputing

LATE SMT.K.LEELAVATHY BY L/R SHRI M.THIMMEGOWDA ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital asset within the meaning of section 2(14) of the IT Act. The simple reply of the assessee’s representative was that though the lands were converted, agricultural activities were going on. 7. The Assessing Officer held though the asessee’s representative was harping that the agricultural activities were carried on till the date of the sale, even after

LATE SMT.K.LEELAVATHY, BY L/R SHRI M.THIMMEGOWDA ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital asset within the meaning of section 2(14) of the IT Act. The simple reply of the assessee’s representative was that though the lands were converted, agricultural activities were going on. 7. The Assessing Officer held though the asessee’s representative was harping that the agricultural activities were carried on till the date of the sale, even after

LATE SMT.K>LEELAVATHY BY L/R SHRI.M.THIMMEGOWDA ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital asset within the meaning of section 2(14) of the IT Act. The simple reply of the assessee’s representative was that though the lands were converted, agricultural activities were going on. 7. The Assessing Officer held though the asessee’s representative was harping that the agricultural activities were carried on till the date of the sale, even after

LATE SMT.K.LEELAVATHY BY L/R SHRI M.THIMMEGOWDA ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital asset within the meaning of section 2(14) of the IT Act. The simple reply of the assessee’s representative was that though the lands were converted, agricultural activities were going on. 7. The Assessing Officer held though the asessee’s representative was harping that the agricultural activities were carried on till the date of the sale, even after