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

96,22,061/- and declared capital gain on the same. On examination of the calculation of cost of acquisition 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 7 of 33 claimed by the assessee, the AO noticed that the assessee had taken different rates ranging from

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

96,22,061/- and declared capital gain on the same. On examination of the calculation of cost of acquisition 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 7 of 33 claimed by the assessee, the AO noticed that the assessee had taken different rates ranging from

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

96,95,044.50 and Rs.14,60,95,303 in the AY 2017-18\nand permit me to pay the balance tax in instalment. I hereby submit\nthat the omission to offer the capital gains in the AY 17-18 was not\nwilful but due to lack of details from Millenia Realtors Pvt. Ltd., and\nthe same may be considered leniently

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

96,95,044.50 and Rs.14,60,95,303 in the AY 2017-18\nand permit me to pay the balance tax in instalment. I hereby submit\nthat the omission to offer the capital gains in the AY 17-18 was not\nwilful but due to lack of details from Millenia Realtors Pvt. Ltd., and\nthe same may be considered leniently

M/S. ABB LTD.,,BANGALORE vs. THE ADDL. CIT, BANGALORE

In the result appeal by the Assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz Assessment Year : 1997-98

section 50 and not as long-term capital gain as held by the Assessing Officer. As regards the taxability of Rs.33.21 crores being the amount received for furnishing restrictive covenant, the ld. CIT(A) has taken the view that the said amount represented consideration for the transfer of goodwill and hence he directed the Assessing Officer to charge the same

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

96,95,044.50 and Rs.14,60,95,303 in the AY 2017-18\nand permit me to pay the balance tax in instalment. I hereby submit\nthat the omission to offer the capital gains in the AY 17-18 was not\nwilful but due to lack of details from Millenia Realtors Pvt. Ltd., and\nthe same may be considered leniently

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

section 2(14) and there was no capital gains tax arising out of such sales within the meaning of the definition of the term “capital asset”. Since the assessee did not offer any capital gain and claimed that it was agricultural land though it was converted into non-agricultural residential purpose, the case was selected for scrutiny and notice u/s.143

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

In the result appeal of the assessee is allowed

section 80G of the Act for Rs. 16,28,978/- only.\n4. The facts in brief are that the assessee, an individual, during the\nyear under consideration derived income under the house property,\nbusiness income, capital gain and other sources. In the return of income,\nthe assessee declared Gross Total Income

PRASHANTH PRAKASH,BANGALORE vs. ADDL.C.I,.T., BANGALORE

In the result, the appeal by the assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2009-10

Section 48 provides the mode of computation for charging capital gain to tax. Income chargeable under the head capital gain shall be computed by deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset (i) expenditure incurred wholly and exclusively in connection with such transfer, and (ii) cost

DR. DEVIKA GUNASHEELA,BANGALORE vs. JCIT, BANGALORE

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

section 54 of the Act. Deduction u/s 54F of the Act is available on sale of any capital asset other than residential house. The assessee’s request for allowing claim of exemption u/s 54F of the Act was denied by the A.O. for the reason that the assessee owned more than one residential house other than the new asset

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

section 92C, the arm's length price in relation to an international transaction [or a specified domestic transaction] shall be determined by any of the following methods, being the most appropriate method, in the following manner, namely :— (a) to (d) .... (e)transactional net margin method, by which,— IT(TP) A No. 270/Bang/2021 Tyco Fire and Security India Pvt.Ltd

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

gains tax are not attracted. 6. Alternatively and without prejudice the Hon'ble Commissioner of Income Tax (Appeals)-11 ought to have held that in the absence of registered deed of conveyance no right, title or interest in the immovable property can be transferred attracting the provisions of the Income Tax Act. 7. The Hon'ble Commissioner of Income

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

gains tax are not attracted. 6. Alternatively and without prejudice the Hon'ble Commissioner of Income Tax (Appeals)-11 ought to have held that in the absence of registered deed of conveyance no right, title or interest in the immovable property can be transferred attracting the provisions of the Income Tax Act. 7. The Hon'ble Commissioner of Income

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

gains tax are not attracted. 6. Alternatively and without prejudice the Hon'ble Commissioner of Income Tax (Appeals)-11 ought to have held that in the absence of registered deed of conveyance no right, title or interest in the immovable property can be transferred attracting the provisions of the Income Tax Act. 7. The Hon'ble Commissioner of Income

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

gains tax are not attracted. 6. Alternatively and without prejudice the Hon'ble Commissioner of Income Tax (Appeals)-11 ought to have held that in the absence of registered deed of conveyance no right, title or interest in the immovable property can be transferred attracting the provisions of the Income Tax Act. 7. The Hon'ble Commissioner of Income

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

Capital Gains'. The ld. AR submitted that the assessment under section 153C is bad in law since the additions made do not arising out of ITA Nos.2222 & 2223/Bang/2016 Page 7 of 82 any material seized during the search. An assessment can be made under section 153C of the Act only if there is a satisfaction that the books of account

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

Capital Gains'. The ld. AR submitted that the assessment under section 153C is bad in law since the additions made do not arising out of ITA Nos.2222 & 2223/Bang/2016 Page 7 of 82 any material seized during the search. An assessment can be made under section 153C of the Act only if there is a satisfaction that the books of account

SRI JOSEPH K.ZACHARIAH ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) CIRCLE-1(2), BANGALORE

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(It)A No.879/Bang/2019 Assessment Year: 2014-15

96,500/- which actually had to be invested. 2. The balance Capital Gain of Rs. 2,59,03,899/- which had to be either invested in the construction of residential house or deposited in the Capital Gain account, could not be done in view of the tax withheld by the buyer of the property, which was yet to be refunded