K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as business income 66.47 3. Unexplained investment 20 4. Unexplained cash credit 78.97 5. Total 172.42 10.1. The Ld. A.R. submitted

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as business income 66.47 3. Unexplained investment 20 4. Unexplained cash credit 78.97 5. Total 172.42 10.1. The Ld. A.R. submitted

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as business income 66.47 3. Unexplained investment 20 4. Unexplained cash credit 78.97 5. Total 172.42 10.1. The Ld. A.R. submitted

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as business income 66.47 3. Unexplained investment 20 4. Unexplained cash credit 78.97 5. Total 172.42 10.1. The Ld. A.R. submitted

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as business income 66.47 3. Unexplained investment 20 4. Unexplained cash credit 78.97 5. Total 172.42 10.1. The Ld. A.R. submitted

K. G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

capital gain as business income 66.47 3. Unexplained investment 20 4. Unexplained cash credit 78.97 5. Total 172.42 10.1. The Ld. A.R. submitted

K.R. PARAMAHAMSA,BANGALORE vs. DCIT, BANGALORE

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

Bench: Smt. Asha Vijayaraghavan & Shri Inturi Rama Rao

capital gains 1,06,65,000 Unexplained investment in flat 36,00,000 Unexplained credits to capital account 17,64,329 Unexplained

K.R. PARAMAHAMSA,BANGALORE vs. DCIT, BANGALORE

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

Bench: Smt. Asha Vijayaraghavan & Shri Inturi Rama Rao

capital gains 1,06,65,000 Unexplained investment in flat 36,00,000 Unexplained credits to capital account 17,64,329 Unexplained

K.R. PARAMAHAMSA,BANGALORE vs. DCIT, BANGALORE

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

Bench: Smt. Asha Vijayaraghavan & Shri Inturi Rama Rao

capital gains 1,06,65,000 Unexplained investment in flat 36,00,000 Unexplained credits to capital account 17,64,329 Unexplained

K.R. PARAMAHAMSA,BANGALORE vs. DCIT, BANGALORE

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

Bench: Smt. Asha Vijayaraghavan & Shri Inturi Rama Rao

capital gains 1,06,65,000 Unexplained investment in flat 36,00,000 Unexplained credits to capital account 17,64,329 Unexplained

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

unexplained investment by the AO with respect to expenditure on property improvement – Rs.44,17,542 (Ground Nos. 3 & 4). (iii) CIT(A) giving directions to the AO without giving an opportunity to the AO in respect of the JDA entered into by the assessee and the calculation of 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

unexplained investment by the AO with respect to expenditure on property improvement – Rs.44,17,542 (Ground Nos. 3 & 4). (iii) CIT(A) giving directions to the AO without giving an opportunity to the AO in respect of the JDA entered into by the assessee and the calculation of capital gains

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

unexplained investment by the AO with respect to expenditure on property improvement – Rs.44,17,542 (Ground Nos. 3 & 4). (iii) CIT(A) giving directions to the AO without giving an opportunity to the AO in respect of the JDA entered into by the assessee and the calculation of 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

unexplained investment by the AO with respect to expenditure on property improvement – Rs.44,17,542 (Ground Nos. 3 & 4). (iii) CIT(A) giving directions to the AO without giving an opportunity to the AO in respect of the JDA entered into by the assessee and the calculation of capital gains

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

unexplained investment by the AO with respect to expenditure on property improvement – Rs.44,17,542 (Ground Nos. 3 & 4). (iii) CIT(A) giving directions to the AO without giving an opportunity to the AO in respect of the JDA entered into by the assessee and the calculation of capital gains

PRAKASH BARE,BENGALURU vs. DCIT CIRCLE 2(2)(1), KORAMANGALA, BENGALURU

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

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan Kassessment Year :2020-21

investment made towards purchase of a new residential house of Rs 58,80,000/- paid on or before 07/11/2022 (the due date for filing the return of income for A Y 2022-23) may please be allowed as aa deduction U/s 54. The Appellant earnestly requests and Pleads that since he has made payment

JAYANTILAL BHAGWANCHAND,BENGALURU vs. INCOME TAX OFFICER, WARD-5(2)(4), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri George George K & Shri Waseem Ahmedassessment Year : 2011-12

unexplained cash credit under section 68 of the Act. 4. The facts in brief are that the assessee in the present case, a HUF, has filed its return of income declaring income from other sources and exempted LTCG. The assessee in the return of income has claimed exemption of long-term capital gain of Rs. 1,53,73,386/- under

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2), BANGALORE vs. M/S. ENZEN GLOBAL SOLUTIONS PRIVATE LIMITED, BANGALORE

In the result, the appeal of the assessee is allowed while appeal of the Revenue is partly allowed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy Sappeal Nos. & Appellant Respondent Assessment Year

Capital Gains' as laid by the Hon’ble Supreme Court in the case of Anarkali Sarabai (supra) and Karthikeya Sarabai (supra) and is not exempt ITA Nos.2332, 2550/Bang/2019 Page 22 of 31 from tax. Further the investment in preference shares is to be regarded as an investment in an unlisted and unquoted security and is therefore definitely exigible

M/S. ENZEN GLOBAL SOLUTIONS PRIVATE LIMITED,BENGALURU vs. INCOME TAX OFFICER, WARD- 2(1)(4), BANGLAOORE

In the result, the appeal of the assessee is allowed while appeal of the Revenue is partly allowed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy Sappeal Nos. & Appellant Respondent Assessment Year

Capital Gains' as laid by the Hon’ble Supreme Court in the case of Anarkali Sarabai (supra) and Karthikeya Sarabai (supra) and is not exempt ITA Nos.2332, 2550/Bang/2019 Page 22 of 31 from tax. Further the investment in preference shares is to be regarded as an investment in an unlisted and unquoted security and is therefore definitely exigible