M/S. TATA ELXSI LIMITED,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, CIRCLE-7(1)(1), BANGALORE

capital gains and income from other\nsources. Insofar as income under the head 'profits and gains of business or\nprofessions' is concerned, provisions thereto are contained in Sections 28 to 44DB of\nthe Act. Section 28 specifies various incomes which shall be chargeable to income tax\nunder this head. Thereafter, Section 29 provides that income referred to in Section

MR. JAGANATH RAMACHANDRA JAMADAR ,BIDAR vs. INCOME TAX OFFICER, WARD-1 , BIDAR

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2017-18

capital gains for the AY 2017-18 which is not in terms of section 45(2) of the Act. 8. That on the facts and circumstances of the case and in law, the Ld AO had grossly erred in considering the cost of acquisition at Rs 3,00,000 and not Rs 3,35,000 as incurred by me towards

SYEDA BIBI SADIQA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-1(1)(1), BANGALORE

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

Bench: Shri Chandra Poojari & Shri Keshav Dubeyassessment Year : 2021-22

Section 54 as determined by the learned CIT Appeal needs to be corrected as under: The total sale proceeds of the apartments is 3,86,00,000 less: Cost of the new asset being 19,53,60,000. The deduction is restricted to the Sale Proceeds i.e 3,86,00,000. 3. The Learned CIT (A) had a misplaced idea

SENTHIL KUMAR THANGAVELU,BANGALORE vs. DCIT, CIRCLE-3(3)(1), BANGALORE

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

Bench: Shri. Laxmi Prasad Sahu & Shri. Soudararajan Kassessment Year : 2021-22

capital gains, dividend and interest. Assessee was resident in India and filed return of income on 27.01.2022 with a total income of Rs.2,20,07,180/- and claimed foreign tax credit (FTC) of Rs.1,52,708/- under sections 90/91 of the Act. Due date for filing return of income was 31.12.2021. However, the return was filed on 27.01.2022 claiming deduction