M/S ILC INDUSTRIES LTD.,,HOSPET vs. DCIT, BANGALORE

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

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

depreciation in accordance with law. Accordingly, these grounds of appeal are set aside to the file of the AO for de novo assessment. 23. In the result, the appeal filed by the assessee is partly allowed. ITA Nos.767 to 769/Bang/2014 (Asst years: 2007-08 2009-10): 24. The assessee raised the following grounds of appeal for assessment year

M/S ILC INDUSTRIES LTD.,,HOSPET vs. DCIT, BANGALORE

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

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

depreciation in accordance with law. Accordingly, these grounds of appeal are set aside to the file of the AO for de novo assessment. 23. In the result, the appeal filed by the assessee is partly allowed. ITA Nos.767 to 769/Bang/2014 (Asst years: 2007-08 2009-10): 24. The assessee raised the following grounds of appeal for assessment year

M/S ILC INDUSTRIES LTD.,,HOSPET vs. DCIT, BANGALORE

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

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

depreciation in accordance with law. Accordingly, these grounds of appeal are set aside to the file of the AO for de novo assessment. 23. In the result, the appeal filed by the assessee is partly allowed. ITA Nos.767 to 769/Bang/2014 (Asst years: 2007-08 2009-10): 24. The assessee raised the following grounds of appeal for assessment year

M/S. GLOBAL TECH PARK PVT LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly\nallowed

search and seizure actions. The primary issue revolves around the disallowance of depreciation on luxury cars and additions made based

M/S. GLOBAL TECH PARK PVT. LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

depreciation as per Para no. 5.4.12. Aggrieved with that, assessee is in appeal before us. 8. The contention of the ld. AR is that :- (i) the addition/disallowance made by the ld. AO is devoid of any merit for the reason that the date of search was 1.2.2018 which was concluded on 29.3.2018. As on the date of search, the assessment

M/S. GLOBAL TECH PARK PVT LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

depreciation as per Para no. 5.4.12. Aggrieved with that, assessee is in appeal before us. 8. The contention of the ld. AR is that :- (i) the addition/disallowance made by the ld. AO is devoid of any merit for the reason that the date of search was 1.2.2018 which was concluded on 29.3.2018. As on the date of search, the assessment

M/S. GLOBAL TECH PARK PVT LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

depreciation as per Para no. 5.4.12. Aggrieved with that, assessee is in appeal before us. 8. The contention of the ld. AR is that :- (i) the addition/disallowance made by the ld. AO is devoid of any merit for the reason that the date of search was 1.2.2018 which was concluded on 29.3.2018. As on the date of search, the assessment

M/S. GLOBAL TECH PARK PVT. LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

depreciation as per Para no. 5.4.12. Aggrieved with that, assessee is in appeal before us. 8. The contention of the ld. AR is that :- (i) the addition/disallowance made by the ld. AO is devoid of any merit for the reason that the date of search was 1.2.2018 which was concluded on 29.3.2018. As on the date of search, the assessment

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1 1, BENGALURU, BENGALURU vs. GLOBAL TECH PARK PRIVATE LIMITED, BANGALORE

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly\nallowed

depreciation as per Para no. 5.4.12.\nAggrieved with that, assessee is in appeal before us.\n\n8. The contention of the ld. AR is that :-\n(i)\nthe addition/disallowance made by the ld. AO is devoid of any\nmerit for the reason that the date of search was 1.2.2018 which\nwas concluded on 29.3.2018. As on the date of search

M/S. GLOBAL TECH PARK PVT LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly\nallowed

depreciation as per Para no. 5.4.12.\nAggrieved with that, assessee is in appeal before us.\n8. The contention of the ld. AR is that :-\n(i)\nthe addition/disallowance made by the ld. AO is devoid of any\nmerit for the reason that the date of search was 1.2.2018 which\nwas concluded on 29.3.2018. As on the date of search

JOHN DEVELOPERS ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

seizure operations would not empower the Assessing Officer to make a block assessment merely because any admission was made by the assessee during search operation. [Emphasis supplied] 23. In our opinion, the Act does not contemplate computing of undisclosed income solely on the basis of statements made during a search. However, these statements do constitute information, and if they relate

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, appeals filed by the assessee are partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

depreciation on goodwill are not borne out from seized material found during the course of search and seizure proceedings. It is only

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, appeals filed by the assessee are partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

depreciation on goodwill are not borne out from seized material found during the course of search and seizure proceedings. It is only

M/S. BARBEQUE NATION HOSPITALITY LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-2(2), BENGALURU

In the result, appeals filed by the assessee are partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

depreciation on goodwill are not borne out from seized material found during the course of search and seizure proceedings. It is only

JOHN DISTILLERIES PVT LTD.,,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

search of Jain group of companies belonged to the respondent-assessee group and the same is incriminating, vitiates the entire assessment proceedings. 36. Accordingly, we find no reason to intermeddle with the order of the ITAT which has rightly set aside the assessment order and deleted the additions made therein. 37. In view of the aforesaid and on the basis

JOHN DEVELOPERS ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

search of Jain group of companies belonged to the respondent-assessee group and the same is incriminating, vitiates the entire assessment proceedings. 36. Accordingly, we find no reason to intermeddle with the order of the ITAT which has rightly set aside the assessment order and deleted the additions made therein. 37. In view of the aforesaid and on the basis

M/S. PAUL RESORTS & HOTELS PVT LTD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(1) , BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

search of Jain group of companies belonged to the respondent-assessee group and the same is incriminating, vitiates the entire assessment proceedings. 36. Accordingly, we find no reason to intermeddle with the order of the ITAT which has rightly set aside the assessment order and deleted the additions made therein. 37. In view of the aforesaid and on the basis

JOHN DEVELOPERS,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

search of Jain group of companies belonged to the respondent-assessee group and the same is incriminating, vitiates the entire assessment proceedings. 36. Accordingly, we find no reason to intermeddle with the order of the ITAT which has rightly set aside the assessment order and deleted the additions made therein. 37. In view of the aforesaid and on the basis