M/S. BRIGADE ENTERPRISES LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

In the result appeal filed by assessee stands partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2013-14 M/S. Brigade Enterprises Ltd., 26/1, 30Th Floor Wtc, The Dy. Commissioner Of Dr. Rajkumar Road, Income-Tax, Malleshwaram, Circle-2(3), Rajajinagar, Bengaluru. Vs. Bengaluru-560 100. Pan – Aaacb 7459 F Appellant Respondent Assessee By : Shri P.C Kincha, C.A Revenue By : Ms. Neera Malhotra, Cit(Dr) Date Of Hearing : 20-07-2021 Date Of Pronouncement : 11-10-2021 Order Per Beena Pillaipresent Appeal Has Been Filed By Assessee Against Order Dated 30/08/2019 Passed By The Ld.Cit(A)-11, Bangalore For Assessment Year 2013-14 On Following Grounds Of Appeal: “1. General Ground 1.1. The Order Passed By The Learned Commissioner Of Income Tax (Appeals) ["Cit(A) For Short Hereinafter"] To The Extent Prejudicial To The Appellant Is Bad In Law & Liable To Be Quashed. 2. Disallowance Under Section 14A R.W. Rule 8D 2.1. The Learned Deputy Commissioner Of Income Tax Central Circle - 2(3), Bangalore ["Ao" For Short Hereinafter] Has Erred In Making A Disallowance Of Rs. 2,02,22,837/- Under Se Tion 14A Comprising Of Disallowa,,Ø-1S. 1,73,98,969/- Under Rule 8D(2)(Ii) & Rs. 28,23,868/- Under Rule 8D(2)(Iii) & The Learned Cit(A) Has Erred In Confirming The Said Disallowance.

capital expenditure is allowable. Page 12 of 25 5.5 We note that in the preceding four assessment years, the Ld.AO did not disallow the expenses under section 35D. As the nature of expenditure is not disputed by the Ld.AO, and that the section allows amortisation of such expenses that have been incurred towards expansion/extension of the undertaking, it could

SHRI BINDIGANAVALE RAVI ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-5(2)(1), BANGALORE

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2015-16

80,34,964/. The income from Capital Gains is recomputed at Rs.83,37,613/-. However in the revised return of income dated 23.09.2015, the assessee has declared a capital gain of Rs.41,08,845/- resulting in short computation of Rs.42,28,768/-. Hence, the same was added to the returned income and assessment was concluded after addition of Rs.42

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

80,00,000 c) Indexed cost of land Rs.1,42,47,093 d) Brokerage and legal charges Rs. 22,21,360 18. Thus, capital gain of Rs.5,55,31,547 was offered for taxation. In respect of Rs.5 crores for improvement, the assessee claimed an amount Page 11 of 40 of Rs.1,63,70,521 as expenses towards cost

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

gains in accordance with section 70 of the Act. Consequently, the computation of gross total income as returned by the assessee was in accordance with law. Once the gross total income is restored to the figure declared in the return, the deduction under section 80G of the Act must also be computed with reference to such income. The restriction applied

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

80,19,968/-. Regarding the cost of acquisition, the Tribunal confirmed the CIT(A)'s direction to adopt Rs. 750/- per sq. ft. as the cost of land.", "result": "Allowed", "sections": [ "Section 45(5A)", "Section 50C", "Section 50D", "Section 48", "Section 55" ], "issues": "The primary issue was the assessment year for taxation of capital gains

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

section 2(47)(v) of the I.T. Act cannot be\ninvoked so as to have the capital gains into tax in the assessment year 2005\n2006 and thus the very foundation of the assessee's case is devoid of merits\nand not tenable and more so there is a specific clause in the JDA as\nenumerated earlier that the assessee

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

gains from sale of its capital assets in its return of income. The CIT(A) dismissed the claim of assessee holding as follows:- Page 9 of 13 “ ……. No revised return of income was filed by the assessee. So the claim of the assessee could not have been considered by the AO in view of the binding decision

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

section 2(47)(v) of the I.T. Act cannot be\ninvoked so as to bring the capital gains into tax in the assessment year 2005-\n2006 and thus the very foundation of the assessee's case is devoid of merits\nand not tenable and more so there is a specific clause in the JDA as\nenumerated earlier that the assessee

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

gains in view of section 2(14) read with sections 45 and 48 of the Act?" 7.3.5. After taking into account the submissions of the either of the party and also the perusal of the orders of the authorities below, the Hon'ble Court had held as under: "5. We find from the record that the Appellate Commissioner as well

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

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

In the result appeal of the assessee is allowed

gain is governed by section 48, but\nthe rates of tax, insofar as we are concerned in the present appeal, are\ngoverned by sections 111A and 115AD.\n9.6 Further, the adjustment made by the CPC under section 143(1)\nhas the effect of re-working the computation in a manner contrary to the\nspecific claim made by the assessee

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 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

80 Feet Road, Koramangala, Bengaluru-560 008. Bengaluru-560 095. PAN : AAFCA 9045 F APPELLANT RESPONDENT Assessee by : Shri. Ajay Roti, CA Revenue by : Shri. Guruprasad, Addl. CIT DR Date of hearing : 08.11.2019 Date of Pronouncement : 20.12.2019 O R D E R Per A. K. Garodia, Accountant Member Both these appeals are filed by the assessee and are directed against

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

80 Feet Road, Koramangala, Bengaluru-560 008. Bengaluru-560 095. PAN : AAFCA 9045 F APPELLANT RESPONDENT Assessee by : Shri. Ajay Roti, CA Revenue by : Shri. Guruprasad, Addl. CIT DR Date of hearing : 08.11.2019 Date of Pronouncement : 20.12.2019 O R D E R Per A. K. Garodia, Accountant Member Both these appeals are filed by the assessee and are directed against

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

gains in view of section 2(14) read with sections 45 and 48 of the Act?" 7.3.5. After taking into account the submissions of the either of the party and also the perusal of the orders of the authorities below, the Hon'ble Court had held as under: "5. We find from the record that the Appellate Commissioner as well

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(1), BANGALORE vs. M/S. ATRIA POWER CORPORATION PRIVATE LIMITED, BANGALORE

In the result, both the appeals of the assessee are dismissed

Bench: Shri George George K.And Shri B.R. Baskaran

gains by an industry entitled to benefit under Section ITA Nos.1096 & 1097/Bang/2019 M/s. Atria Power Corporation Pvt. Ltd., Bangalore Page 9 of 11 80-E cannot be reduced by the loss suffered by any other industry or industries owned by the assessee. 15. In the case before us, there is no discussion about Section 80-IA(5) by the Appellate

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(1), BANGALORE vs. M/S. ATRIA POWER CORPORATION PRIVATE LIMITED, BANGALORE

In the result, both the appeals of the assessee are dismissed

Bench: Shri George George K.And Shri B.R. Baskaran

gains by an industry entitled to benefit under Section ITA Nos.1096 & 1097/Bang/2019 M/s. Atria Power Corporation Pvt. Ltd., Bangalore Page 9 of 11 80-E cannot be reduced by the loss suffered by any other industry or industries owned by the assessee. 15. In the case before us, there is no discussion about Section 80-IA(5) by the Appellate

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

section 80 of the Karnataka Land Reforms Act, 1961. Further, the converted lands were transferred by the assessee to the company by way of sale deed dated 16.07.2007. According to the AO, the relevant points for treating the land as a capital asset to be subjected to capital gain

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

section 80 of the Karnataka Land Reforms Act, 1961. Further, the converted lands were transferred by the assessee to the company by way of sale deed dated 16.07.2007. According to the AO, the relevant points for treating the land as a capital asset to be subjected to capital gain