KOGOD BASAVARAJU JAYACHANDRA ,HASSAN vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result the ITA No

depreciation allowance or any other allowance\nunder this Act has been computed;]\n\n31[(ca) where a return of income has not been furnished by the assessee or a\nreturn of income has been furnished by him and on the basis of\ninformation or document received from the prescribed income-tax\nauthority, under sub-section (2) of section 133C

NEPAL SINGH RATHOD (HUF),HUBLI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, HUBLI, HUBLI

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2017-18

demonetization period. It was found that the assessee has deposited cash amounting to Rs.1,61,59,405 with Corporation Bank, Bank of India, Bank of Maharashtra, during 10.11.2016 to 30.12.2016. The assessee have filed details of denomination of SBNs deposited and also details of cash receipt, deposit and withdrawals in the proforma. The same are placed on record after

JANATA TRADERS,GADAG vs. PRINCIPAL COMMISSIONER OF INCOME TAX, HUBLI

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

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2017-18

demonetization period. It was found that the assessee has deposited cash amounting to Rs.1,61,59,405 with Corporation Bank, Bank of India, Bank of Maharashtra, during 10.11.2016 to 30.12.2016. The assessee have filed details of denomination of SBNs deposited and also details of cash receipt, deposit and withdrawals in the proforma. The same are placed on record after

SRI. PAVAN KANDKUR,HUBBALLI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, HUBBALLI

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

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S.Shri Pavan Kandkur Vs Principle Commissioner Of Cts No. 3046, Hirepeth Nagar Income Tax Near Akkikonda Aayakar Bhavan Hubballi 580020 Navanagar Pan – Anipk4256B Hubballi 580025 (Appellant) (Respondent) Assessee By: Shri Balram R. Rao, Adv. Revenue By: Ms. Neera Malmotra, Cit-Dr Date Of Hearing: 15/11/2022 Date Of Pronouncement: 17/11/2022 O R D E R Per: Padmavathy, A.M. This Is An Appeal Filed By The Assessee Against The Order Of The Learned Cit, Hubali Passed Under Section 263 Of The Income Tax Act, 1961 (The Act) Dated 23.03.2022 For Ay 2017-18. 2. The Assessee Raised The Following Grounds Of Appeal: - On The Facts & In The Circumstances Of The Case, The Conditions 1. Precedent Being Absent The Proceedings-Initiated U/S.263 Of The Act Was Opposed To Law & The Order Passed U/S.263 Is Liable To Be Cancelled. On The Facts There Being No Error Much Less An Error Prejudicial To The 2. Interest Of Revenue, The Learned Commissioner Of Income-Tax Ought To Have Refrained From Invoking The Provisions Of Sec.263 Of The Act. The Learned Commissioner Ought To Have Considered The Submissions 3. Made By The Appellant & Ought Not To Have Invoked The Proceedings U/S.263 Of The Act.

demonetization period and has considered all the bank accounts in the name of the assessee for this purpose. The fact that the AO had called for details with regard to the discrepancies found with respect to the details submitted makes it clear that the details submitted have been perused by the AO and he has applied his mind while accepting

OM SAI CO-OPERATIVE CREDIT SOUHARDA SAHAKARI NIYAMIT,GADAG vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, HUBLI

In the result, the appeal by the assessee is allowed

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy Sassessment Year : 2017-18

demonetization period. It was found that the assessee has deposited cash amounting to Rs.1,61,59,405 with Corporation Bank, Bank of India, Bank of Maharashtra, during 10.11.2016 to 30.12.2016. The assessee have filed details of denomination of SBNs deposited and also details of cash receipt, deposit and withdrawals in the proforma. The same are placed on record after

SRI H. N. RAVINDRA,HASSAN vs. INCOME TAX OFFICER, WARD - 2, HASSAN

In the result, the assessee’s appeal is allowed

demonetization period (9th November to 30th December) reported as per SFT reporting. 5. From the above para reproduced from the Assessment Order, it comes out that the only point on which the assessee’s case was selected for limited scrutiny was regarding cash deposit in bank and cash in hand shown in the return of income and hence, the disallowance