ASST.C.I.T., MANGALORE vs. DR. ALI KUMBLE, MANGALORE

In the result, the appeals filed by the revenue are dismissed

Bench: Shri Inturi Rama Rao & Shri Sudanshu Srivastava

depreciation are allowed to be carried forward under certain conditions. The expert Group, in the draft Income-Otax Bill, has recognized the need to encourage business reorganizations when they are in consonance with the objective of economic development and are not merely device to secure tax advantage." 10.3. Thus the bill proposes to allow tax benefits in case of business

ASST.C.I.T., MANGALORE vs. DR. YUSUF KUMBLE, MANGALORE

In the result, the appeals filed by the revenue are dismissed

Bench: Shri Inturi Rama Rao & Shri Sudanshu Srivastava

depreciation are allowed to be carried forward under certain conditions. The expert Group, in the draft Income-Otax Bill, has recognized the need to encourage business reorganizations when they are in consonance with the objective of economic development and are not merely device to secure tax advantage." 10.3. Thus the bill proposes to allow tax benefits in case of business

M/S MSPL LIMITED,MUMBAI vs. ACIT, BANGALORE

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

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2005-06

depreciation of Rs.1,05,85,948. In the assessment order, even there is no reference to any loose papers or statements recorded during the search proceedings. It clearly shows that there was no incriminating material found during the search for making disallowance in the order u/s. 153A. In the case of PCIT v. Abhisar Buildwell (P) Ltd. (supra) relied

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BANGALORE

section 132A. 50.3 Applicability-These\namendments will take effect from the 1st day of June, 2007.\"\n\n6.2 From the perusal of the section 153D of the Act read with the CBDT\nCircular No. 3 of 2008, dated 12-3-2008, the legislative intent can be gathered\nso far as that the legislature in its highest wisdom made it compulsory

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BENGALURU

132A. 50.3 Applicability-These\namendments will take effect from the 1st day of June, 2007.\"\n6.2 From the perusal of the section 153D of the Act read with the CBDT\nCircular No. 3 of 2008, dated 12-3-2008, the legislative intent can be gathered\nso far as that the legislature in its highest wisdom made it compulsory that

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2)(1), BANGALORE vs. SHRI SACHIN KAMATH, BANGALORE

In the result, the Revenue’s appeals bearing ITA Nos

Bench: Shri Chandra Poojari & Shri Pavan Kumar Gadale

132A and in respect of such assessment year— (a) no return of income has been furnished by such other person and no notice under sub-section (1) of section 142 has been issued to him, or ITA No.1780 to 1785-B-17 & CO 27 to 32-B-2018 Page 15 of 22 (b) a return of income has been furnished

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2)(1), BANGALORE vs. SHRI SACHIN KAMATH, BANGALORE

In the result, the Revenue’s appeals bearing ITA Nos

Bench: Shri Chandra Poojari & Shri Pavan Kumar Gadale

132A and in respect of such assessment year— (a) no return of income has been furnished by such other person and no notice under sub-section (1) of section 142 has been issued to him, or ITA No.1780 to 1785-B-17 & CO 27 to 32-B-2018 Page 15 of 22 (b) a return of income has been furnished

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), BANGALORE vs. SHRI SACHIN KAMATH , BANGALORE

In the result, the Revenue’s appeals bearing ITA Nos

Bench: Shri Chandra Poojari & Shri Pavan Kumar Gadale

132A and in respect of such assessment year— (a) no return of income has been furnished by such other person and no notice under sub-section (1) of section 142 has been issued to him, or ITA No.1780 to 1785-B-17 & CO 27 to 32-B-2018 Page 15 of 22 (b) a return of income has been furnished

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2)(1), BANGALORE vs. SHRI SACHIN KAMATH, BANGALORE

In the result, the Revenue’s appeals bearing ITA Nos

Bench: Shri Chandra Poojari & Shri Pavan Kumar Gadale

132A and in respect of such assessment year— (a) no return of income has been furnished by such other person and no notice under sub-section (1) of section 142 has been issued to him, or ITA No.1780 to 1785-B-17 & CO 27 to 32-B-2018 Page 15 of 22 (b) a return of income has been furnished

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), BANGALORE vs. SHRI SACHIN KAMATH , BANGALORE

In the result, the Revenue’s appeals bearing ITA Nos

Bench: Shri Chandra Poojari & Shri Pavan Kumar Gadale

132A and in respect of such assessment year— (a) no return of income has been furnished by such other person and no notice under sub-section (1) of section 142 has been issued to him, or ITA No.1780 to 1785-B-17 & CO 27 to 32-B-2018 Page 15 of 22 (b) a return of income has been furnished

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

132A of the Act,1961. ITA Nos.21 to 26/Bang/2024 Page 46 of 47 However, the completed/unabated assessments can be re-opened by the AO in exercise of powers under Sections 147/148 of the Act, subject to fulfilment of the conditions as envisaged/mentioned under sections 47/148 of the Act and those powers arc saved" 16. The Hon. Supreme Court

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

132A of the Act,1961. ITA Nos.21 to 26/Bang/2024 Page 46 of 47 However, the completed/unabated assessments can be re-opened by the AO in exercise of powers under Sections 147/148 of the Act, subject to fulfilment of the conditions as envisaged/mentioned under sections 47/148 of the Act and those powers arc saved" 16. The Hon. Supreme Court

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

132A of the Act,1961. ITA Nos.21 to 26/Bang/2024 Page 46 of 47 However, the completed/unabated assessments can be re-opened by the AO in exercise of powers under Sections 147/148 of the Act, subject to fulfilment of the conditions as envisaged/mentioned under sections 47/148 of the Act and those powers arc saved" 16. The Hon. Supreme Court

M/S. H. M. CONSTRUCTIONS,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL RANGE - 1(4), BANGALORE

In the result, appeals being ITA Nos

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S

132A in the second proviso to sub- section (1) of section 153A shall be construed as reference to the date of receiving the books of account or documents or assets seized or requisitioned by the Assessing Officer having jurisdiction over such other person.” 16. From the above, it is seen that the jurisdictional conditions and circumstances prescribed by the legislature

M/S. H. M. CONSTRUCTIONS,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL RANGE - 1(4), BANGALORE

In the result, appeals being ITA Nos

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S

132A in the second proviso to sub- section (1) of section 153A shall be construed as reference to the date of receiving the books of account or documents or assets seized or requisitioned by the Assessing Officer having jurisdiction over such other person.” 16. From the above, it is seen that the jurisdictional conditions and circumstances prescribed by the legislature

M/S. H.M. CONSTRUCTIONS,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL RANGE - 1(4), BANGALORE

In the result, appeals being ITA Nos

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S

132A in the second proviso to sub- section (1) of section 153A shall be construed as reference to the date of receiving the books of account or documents or assets seized or requisitioned by the Assessing Officer having jurisdiction over such other person.” 16. From the above, it is seen that the jurisdictional conditions and circumstances prescribed by the legislature

M/S. H.M. CONSTRUCTIONS,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL RANGE 1(4), BANGALORE

In the result, appeals being ITA Nos

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S

132A in the second proviso to sub- section (1) of section 153A shall be construed as reference to the date of receiving the books of account or documents or assets seized or requisitioned by the Assessing Officer having jurisdiction over such other person.” 16. From the above, it is seen that the jurisdictional conditions and circumstances prescribed by the legislature

M/S. H. M. CONSTRUCTIONS,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL RANGE - 1(4), BANGALORE

In the result, appeals being ITA Nos

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S

132A in the second proviso to sub- section (1) of section 153A shall be construed as reference to the date of receiving the books of account or documents or assets seized or requisitioned by the Assessing Officer having jurisdiction over such other person.” 16. From the above, it is seen that the jurisdictional conditions and circumstances prescribed by the legislature