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. Bad debts written off ITA Nos.1211

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. Bad debts written off ITA Nos.1211

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. Bad debts written off ITA Nos.1211

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. Bad debts written off ITA Nos.1211

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. Bad debts written off ITA Nos.1211

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained expenditure 380 Total 632.73 ITA Nos.307 to 312/Bang/2020 Shri K.G. Krishna, Bangalore Page 30 of 89 9.1. Ld. A.R. submitted that the above addition of Rs.380 lakhs is based on the seized material found during the course of search action in the case of N.C. Mahesh and no material found during the search action in the case of assessee

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained expenditure 380 Total 632.73 ITA Nos.307 to 312/Bang/2020 Shri K.G. Krishna, Bangalore Page 30 of 89 9.1. Ld. A.R. submitted that the above addition of Rs.380 lakhs is based on the seized material found during the course of search action in the case of N.C. Mahesh and no material found during the search action in the case of assessee

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained expenditure 380 Total 632.73 ITA Nos.307 to 312/Bang/2020 Shri K.G. Krishna, Bangalore Page 30 of 89 9.1. Ld. A.R. submitted that the above addition of Rs.380 lakhs is based on the seized material found during the course of search action in the case of N.C. Mahesh and no material found during the search action in the case of assessee

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained expenditure 380 Total 632.73 ITA Nos.307 to 312/Bang/2020 Shri K.G. Krishna, Bangalore Page 30 of 89 9.1. Ld. A.R. submitted that the above addition of Rs.380 lakhs is based on the seized material found during the course of search action in the case of N.C. Mahesh and no material found during the search action in the case of assessee

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained expenditure 380 Total 632.73 ITA Nos.307 to 312/Bang/2020 Shri K.G. Krishna, Bangalore Page 30 of 89 9.1. Ld. A.R. submitted that the above addition of Rs.380 lakhs is based on the seized material found during the course of search action in the case of N.C. Mahesh and no material found during the search action in the case of assessee

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained expenditure 380 Total 632.73 ITA Nos.307 to 312/Bang/2020 Shri K.G. Krishna, Bangalore Page 30 of 89 9.1. Ld. A.R. submitted that the above addition of Rs.380 lakhs is based on the seized material found during the course of search action in the case of N.C. Mahesh and no material found during the search action in the case of assessee

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

unexplained, the AO treated it as undisclosed income. We are of the opinion that one more opportunity is to be provided to the assessee to explain the credit to the capital account as appearing in the balance sheet. We therefore set aside this issue to the file of the Assessing Officer to decide the issue afresh after due opportunity

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

unexplained, the AO treated it as undisclosed income. We are of the opinion that one more opportunity is to be provided to the assessee to explain the credit to the capital account as appearing in the balance sheet. We therefore set aside this issue to the file of the Assessing Officer to decide the issue afresh after due opportunity

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

unexplained, the AO treated it as undisclosed income. We are of the opinion that one more opportunity is to be provided to the assessee to explain the credit to the capital account as appearing in the balance sheet. We therefore set aside this issue to the file of the Assessing Officer to decide the issue afresh after due opportunity

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

unexplained, the AO treated it as undisclosed income. We are of the opinion that one more opportunity is to be provided to the assessee to explain the credit to the capital account as appearing in the balance sheet. We therefore set aside this issue to the file of the Assessing Officer to decide the issue afresh after due opportunity

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

money to another on condition that the obligation shall be void if a specified act is performed, or is not performed, as the case may be". Debt securities typically are regarded as consisting of notes, debentures and bonds. Technically, a 'debenture' is an unsecured corporate obligation while a 'bond' is secured by a lien or mortgage on corporate property. However

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

money to another on condition that the obligation shall be void if a specified act is performed, or is not performed, as the case may be". Debt securities typically are regarded as consisting of notes, debentures and bonds. Technically, a 'debenture' is an unsecured corporate obligation while a 'bond' is secured by a lien or mortgage on corporate property. However

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

KAMALA DEVI BAID,BENGALURU vs. THE INCOME TAX OFFICER, WARD- 2(2)(4), BENGALURU

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

Bench: Shri N.V. Vasudevanassessment Year : 2011-12

money which has to be added u/s. 68 of the Act. 5. Based on the above said investigation carried out by the Directorate of Investigation, Kolkata, and the statements of various operators, entry providers and stock brokers admitting accommodation entries of long term capital gain, the AO was of the view that the long-term capital gain declared