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 gains taxable at a different rate. He further argued that the CPC is empowered under section 143(1) to correct computational errors apparent from the return and that the restriction of deduction under section 80G was only consequential. He prayed that the order of the CIT(A) be upheld. 9

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

9 of 33 considered at the time of offering capital gains on JDA to tax. In the instant case, the cost which was allowed to be claimed by the assessee as per assessment order dated 10/02/20215was Rs.1,67,28,000/- for an area of 3,64,336 sq. ft. thus cost per sq ft. being Rs.45.91 sq. ft. The assessee

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

9 of 33 considered at the time of offering capital gains on JDA to tax. In the instant case, the cost which was allowed to be claimed by the assessee as per assessment order dated 10/02/20215was Rs.1,67,28,000/- for an area of 3,64,336 sq. ft. thus cost per sq ft. being Rs.45.91 sq. ft. The assessee

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

Section 45[5A] of the Act, has been\ninserted that the date of occupancy certificate is relevant for\ndetermining the taxation of capital gains. The appellant has relied\nupon the decision of the Hon'ble ITAT in the case of N.A. Harris in\nITA No.988/Bang/2018 dated 15/02/2021 specifically para [33] on\npage 200 to 202. Appellant also relies upon

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

gain\nshall be computed after making certain\ndeductions from the \"full value of the\nconsideration for which the sale, exchange or\ntransfer of the capital asset is made\". In case\nof a sale, the full value of the consideration is\nthe full sale price actually paid. The\nlegislature had to use the words \"full value of\nthe consideration\" because

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

gain\nshall be computed after making certain\ndeductions from the \"full value of the\nconsideration for which the sale, exchange or\ntransfer of the capital asset is made\". In case\nof a sale, the full value of the consideration is\nthe full sale price actually paid. The\nlegislature had to use the words \"full value of\nthe consideration\" because

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

capital gain. The learned D.R. failed to point out any change in the facts and circumstances even this impugned year. Therefore, applying the principle of consistency as formulated by the Hon'ble Supreme Court in the case of Radhasoami Satsang v. CIT (1992] 193 ITR 321 we are of the view that the ld. CIT(A) is correct in allowing

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

capital gains. The statute laid down five conditions by way of proviso to the sub-clause (xiii) of section 47 for the entitlement of the benefit. The AO mainly relied on these provisos and alleged M/s. Atria Wind (Kadambur) Private Limited, Bangalore Page 9

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

9. The learned AR for the assessee before us argued that under Section 71(2) of the Act, the assessee has the discretion to decide whether to set off business losses against 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

9. From the above, it is clear that the assessee has not fulfilled the two conditions to claim deduction u/s 54F of the Income Tax Act that the assessee has not constructed a residential house within a period of three years after the date of sale of capital asset and not deposited unutilized amount in the capital gain account before

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

Section 54 of the Act for extending the benefit flowing therefrom. In the instant case consideration paid by assessee under IT(IT)A No.258/Bang/2025 HanchipuraChannaiah Nandakishore, Bangalore Page 9 of 16 Memorandum of Understanding dated 08.09.2003 would fully cover the consideration of capital gains

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

9,910,055. In the short term capital it is a fact that assessee has earned a short term capital gain of Rs 87 Lakhs in Page 7 of 8 the company named Sunstar Reality Limited. The assessee has also claimed long-term capital gain exempt under section

NAVJYOTI SHARMA,BANGALORE vs. DCIT ASMNT, BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

9 of 14 (ii) If the amount of the capital gain is equal to or less than the cost of the new asset, the capital gain shall not be charged under section

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(2), INTERNATIONAL TAXATION, BENGALURU, BENGALURU vs. ORANGE (FORMERLY KNOWN AS FRANCE TELECOM)), FRANCE

In the result, the appeal filed by the revenue stands dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(It)A No. 711/Bang/2023 Assessment Year : 2011-12 M/S. Orange The Deputy (Formerly Known As Commissioner Of France Telecom), Income Tax, 78, Rue Olivaier De Circle – 2(2), Serres, International Paris, Taxation, Vs. France. Bengaluru. Pan: Aacco8859J Appellant Respondent Assessee By : None Revenue By : Shri D.S. Karthik, Jcit (Dr)

section 9(vi). It reads as under:— 'Explanation 2.: For the purposes of this clause, "royalty" means consideration (including any lump sum consideration but excluding any consideration which would be the income of the recipient chargeable under the head "Capital gains

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

9,52,480 5. The AO completed the assessment by making the following additions:- Asst. year Asst. year Asst. year Addition 2005-06 2006-07 2007-08 Bad debts written off 30,34,124 26,633 – Unexplained expenses 54,17,542 – – towards property improvement Undisclosed capital 1,44,00,000 – – Unexplained gain on – – 6,07,621 sale of mutual fund

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

9,52,480 5. The AO completed the assessment by making the following additions:- Asst. year Asst. year Asst. year Addition 2005-06 2006-07 2007-08 Bad debts written off 30,34,124 26,633 – Unexplained expenses 54,17,542 – – towards property improvement Undisclosed capital 1,44,00,000 – – Unexplained gain on – – 6,07,621 sale of mutual fund

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

9,52,480 5. The AO completed the assessment by making the following additions:- Asst. year Asst. year Asst. year Addition 2005-06 2006-07 2007-08 Bad debts written off 30,34,124 26,633 – Unexplained expenses 54,17,542 – – towards property improvement Undisclosed capital 1,44,00,000 – – Unexplained gain on – – 6,07,621 sale of mutual fund

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

9,52,480 5. The AO completed the assessment by making the following additions:- Asst. year Asst. year Asst. year Addition 2005-06 2006-07 2007-08 Bad debts written off 30,34,124 26,633 – Unexplained expenses 54,17,542 – – towards property improvement Undisclosed capital 1,44,00,000 – – Unexplained gain on – – 6,07,621 sale of mutual fund