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 234A, 234B and 234C of the Act are not leviable in the case of the appellant. 19. Without prejudice, the interests levied are excessive and liable to be deleted in toto. 20. Without prejudice, the additions are excessive , arbitrary and unreasonable and liable to be deleted in toto. 21. For these and other grounds that may be urged

SMT.ANUPAMA NAGESH,BANGALORE vs. INCOME TAX OFFICER, BANGALORE

In the result, the assessee's appeal is allowed

Bench: Shri Vijay Pal Rao

70,690 including registration charges and stamp duty. The assessee deposited the net consideration out of Rs.1 Crore in capital gain account scheme with the Indian Oveseas Bank and claimed exemption under Section 54 for long term capital gain arising from sale of immovable property. The Assessing Officer noted that the capital gain account shows the balance of Rs.62

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

3,64,335.64). We are of the considered opinion that both the Authorities below failed to understand the real issue involved in considering the rate of cost of land to be applied for calculating the ITA Nos.962 & 963/Bang/2025 K.S. Akhilesh Babu ITA No.964/Bang/2025 K.A. Sujith Chandan ITA No.965/Bang/2025 K.G. Subbarama Setty Page 17 of 33 capital gains. Both the Authorities

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

3,64,335.64). We are of the considered opinion that both the Authorities below failed to understand the real issue involved in considering the rate of cost of land to be applied for calculating the ITA Nos.962 & 963/Bang/2025 K.S. Akhilesh Babu ITA No.964/Bang/2025 K.A. Sujith Chandan ITA No.965/Bang/2025 K.G. Subbarama Setty Page 17 of 33 capital gains. Both the Authorities

M/S HIRSCH BRACELET INDIA PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3(1)(2), BANGALORE

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

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year : 2015-16

section 71 of the Act), returned a total taxable Income of Rs. 2,59,15,640. 10. In the assessment proceedings, the assessee claimed that the sale of the leasehold rights over the land that was sold gave rise to long term capital gain (LTCG). That the sale of building was taxable as short term capital gain (STCG

M/S ACCIONA WIND ENERGY PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATION TAXATION) CIRCLE-1(1), BANGALORE

In the result, the appeal of the assessee in ITA No

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

70 taxmann.com 46 (Mumbai – Trib.). He submitted a copy of this Tribunal order. He also submitted that otherwise also, section 47(iv) is not applicable because as per this section, the parent company or its nominees should hold the whole of the share capital of the subsidiary company whereas in the present case, the parent company is holding only

M/S ACCIONA WIND ENERGY PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATION TAXATION) CIRCLE-1(1), BANGALORE

In the result, the appeal of the assessee in ITA No

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

70 taxmann.com 46 (Mumbai – Trib.). He submitted a copy of this Tribunal order. He also submitted that otherwise also, section 47(iv) is not applicable because as per this section, the parent company or its nominees should hold the whole of the share capital of the subsidiary company whereas in the present case, the parent company is holding only

DR. DEVIKA GUNASHEELA,BANGALORE vs. JCIT, BANGALORE

Bench: Shri N.V. Vasudevan & Shri A.K. Garodiaassessment Year: 2012-13

3 years for construction of the house property, but the capital gain on the transfer of original house property is taxable in the previous year in which transfer took place. Hence, the assessee will have to take a decision for the purchase/construction of the house property till the date of furnishing of the return otherwise the capital gain would become

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

70,00,000 Less: Cost of Acquisition 99,990 99,990 Short Term Capital Gain/(Loss) (89,991) 14,69,00,010 Sale of CCDs of Aigua Sprinkler to unrelated third party Sale Consideration 100 55,00,00,000 Less: Cost of Acquisition 55,00,00,000 55,00,00,000 Short Term Capital Gain/(Loss

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

3 years from the date of sale of capital assets. We also noted from the documents submitted by the assessee that the landlord Smt. Chanamma filed writ petition before the Hon’ble High Court of Karnataka against the acquisition of land by the BDA. We further note from the order of the AO at para No.5 that the residential building

DR. SHEELA PUTTABUDDI,BANGALORE vs. INCOME TAX OFFICER, WARD- 3(3)(5), BANGALORE

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

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

3 years i.e. on or before 25.03.2018). Admittedly, the assessee has neither purchased nor constructed the residential house within the due date specified. It is also an admitted position that the proceeds from the sale of original asset was deposited by the assessee in a capital gains account scheme with the State Bank of India on 26.03.2015 itself. The copy

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 Year cost/year expenses cost of gain improv- ement Sale of 5325000 199695 0 0 5125305 0 agricultural (20/01/2009) (6/8/1993) land Total 5325000 199695 0 0 5125305 0 Sale of Agricultural land – Cost : 83721*(582/244) = 199695 Exempt U/S : 5325000 10.2 Later the AO issued a Questionnaire on 8.1.2014 seeking details of property sold during the FY 2008-09 as follows

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 Year cost/year expenses cost of gain improv- ement Sale of 5325000 199695 0 0 5125305 0 agricultural (20/01/2009) (6/8/1993) land Total 5325000 199695 0 0 5125305 0 Sale of Agricultural land – Cost : 83721*(582/244) = 199695 Exempt U/S : 5325000 10.2 Later the AO issued a Questionnaire on 8.1.2014 seeking details of property sold during the FY 2008-09 as follows

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 Year cost/year expenses cost of gain improv- ement Sale of 5325000 199695 0 0 5125305 0 agricultural (20/01/2009) (6/8/1993) land Total 5325000 199695 0 0 5125305 0 Sale of Agricultural land – Cost : 83721*(582/244) = 199695 Exempt U/S : 5325000 10.2 Later the AO issued a Questionnaire on 8.1.2014 seeking details of property sold during the FY 2008-09 as follows

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 Year cost/year expenses cost of gain improv- ement Sale of 5325000 199695 0 0 5125305 0 agricultural (20/01/2009) (6/8/1993) land Total 5325000 199695 0 0 5125305 0 Sale of Agricultural land – Cost : 83721*(582/244) = 199695 Exempt U/S : 5325000 10.2 Later the AO issued a Questionnaire on 8.1.2014 seeking details of property sold during the FY 2008-09 as follows

M/S MHM HOLDINGS PVT LTD ,BANGALORE vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX RANGE-12 , BANGALORE

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

Bench: Smt. Beena Pillai & Ms. Padmavathy S.M/S. Mhm Holding Pvt. Ltd. Vs Acit, Range - 12 Bengaluru No. 52, Bassappa Road Shantinagar Bengaluru 560027 Pan – Aabcm6614L (Appellant) (Respondent) Assessee By: Shri Parthasarathi, Adv. Revenue By: Shri K.R. Narayana, Addl Cit-Dr Date Of Hearing: 23/11/2022 Date Of Pronouncement: 25/11/2022 O R D E R Per: Padmavathy, A.M.

Section 50B of the Act as per the detailed computation given below: - Provisional purchase price in respect of capacitors 116,00,00,000 division Less Adjustment in purchase price as given in Pg. 1,74,16,651 No. 15 of the agreement Final purchase price in respect of capacitors division 114,25,83,349 Add Purchase price in respect

SHRI D.DASAPPA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

gain tax are as under:- (a) The lands transferred were non-agricultural lands because from the description of schedule of properties that the lands are converted from agricultural to non-agricultural for residential purpose. Therefore, the nature of the lands is non- agricultural when the transfer took place. (b) In view of section 80 of Karnataka Land Reforms

SHRI D.DASAPPA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

gain tax are as under:- (a) The lands transferred were non-agricultural lands because from the description of schedule of properties that the lands are converted from agricultural to non-agricultural for residential purpose. Therefore, the nature of the lands is non- agricultural when the transfer took place. (b) In view of section 80 of Karnataka Land Reforms