M/S BRIGADE ENTERPRISES LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1(1)(2), BANGALORE

In the result, the assessee’s appeals for assessment years 2008-09 to 2010-11 are partly allowed for statistical purposes

Bench: Shri Jason P Boaz & Shri Pavan Kumar Gadale

2)(iii). The submission of ld. counsel for the assessee is that this issue is now covered by the decision of the Hon’ble Delhi High Court in the case of CIT Vs. Holcin India (P) Ltd. (supra), wherein it has been held that if no dividend income was earned, section 14A couldnot be invoked. The Hon’ble Delhi High

CANARA BANK,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BANGALORE, BENGALURU

Bench: SHRI WASEEM AHMED, ACCOUNTANT MEMBER\nAND\nSHRI KESHAV DUBEY, JUDICIAL MEMBER\nITA No.210/Bang/2024\nAssessment Year: 2017-18\nM/s Canara Bank\nFM wing, Head Office,\n112, J.C. Road\nBangalore 560002\nVs.\nDCIT\nCircle-2(1)(1)\nBangalore\nPAN NO : AAACC6106G\nAPPELLANT\nRESPONDENT\nITA No.222/Bang/2024\nAssessment Year: 2017-18\nDCIT\nCircle-2(1)(1)\nBangalore\nVs.\nM/s Canara Bank\nFM wing, Head Office,\n112, J.C. Road\nBangalore 560 002\nAPPELLANT\nRESPONDENT\nITA No.1154/Bang/2023\nAsses

Depreciation on ATM, Note Counting\nMachine & Weighing Machine\n2,03,00,000\n5.\nPenalty for non-Deduction to Section 37(1)\n6.\nDisallowance u/s 14A\n7.\nDepreciation on Leased Assets\n8.\nLong Term Capital Gain on Sale of shares of CanFin\nHome Ltd.\n9.\nDisallowance of Provision for Bad & Doubtful Debt u/s\n36(1)(viia) (viiu)\n10.\nShort Allowance

M/S. BHARAT BEEDI WORKS PRIVATE LIMITED,MANGALURU vs. DEPUTY COMMISIONER OF INCOME TAX, CENTRAL CIRCLE - 2, MANGALURU

2 Pg.\n629}.\n4.11. Hence the approval under Section 153D dated 28.09.2021 is bad\nand invalid. Consequently, the assessment orders for the AYs 2018-\n19, 2019-20 and 2020-21 are bad and invalid without valid\napproval under Section 153D.\n5. As regards revised return filed being invalid and contrary to\nSection 139(5)\n5.1. The Assessee filed the original

M/S. BHARAT BEEDI WORKS PRIVATE LIMITED,MANGALURU vs. DEPUTY COMMISIONER OF INCOME TAX, CENTRAL CIRCLE - 2, MANGALURU

In the result, the appeals filed by the assessee for all the four A

Bench: SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER\nAND\nSHRI SOUNDARARAJAN K. (Judicial Member)

14A can be made\ntowards the interest expenditure where the Appellant's\ninterest-free funds exceed its interest-free investments.\nFor the above Grounds and for such other Grounds which\nmay be allowed by the Honourable Members to be urged\nat the time of hearing, it is prayed that the aforesaid\nappeal be allowed.”\n2.\nThe brief facts

M/S. BHARAT BEEDI WORKS PRIVATE LIMITED,MANGALURU vs. DEPUTY COMMISIONER OF INCOME TAX, CENTRAL CIRCLE - 2, MANGALURU

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

2 – Pg.\n629}.\n\n4. 11. Hence the approval under Section 153D dated 28.09.2021 is bad\nand invalid. Consequently, the assessment orders for the AYs 2018-\n19, 2019-20 and 2020-21 are bad and invalid without valid\napproval under Section 153D.\n\n5. As regards revised return filed being invalid and contrary to\nSection

M/S INFOSYS LTD ,BANGALOR E vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3(1)(1), BANGALORE

In the result, the appeal filed by the assessee as well as by revenue are partly allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(Tp)A No.735/Bang/2018 Assessment Year: 2013-14

14A as per rule 8D in the absence of satisfaction of the Ld.AO on incorrectness of the claim made by the assessee. 8.5. Without prejudice, Special bench of Hon’ble Delhi Tribunal in the case of ACIT vs. Vireet Investment (P) Ltd., reported in (2017) 82 taxmann.com 415, among other cases has held that only those investments

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3(1)(1), BANGALORE vs. M/S INFOSYS LIMITED , BANGALORE

In the result, the appeal filed by the assessee as well as by revenue are partly allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(Tp)A No.735/Bang/2018 Assessment Year: 2013-14

14A as per rule 8D in the absence of satisfaction of the Ld.AO on incorrectness of the claim made by the assessee. 8.5. Without prejudice, Special bench of Hon’ble Delhi Tribunal in the case of ACIT vs. Vireet Investment (P) Ltd., reported in (2017) 82 taxmann.com 415, among other cases has held that only those investments

M/S. SYNGENE INTERNATIONAL LIMITED,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX, SPECIAL RANGE- 6, BANGALORE

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

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2010-11

depreciation under section 32(1)(iia) of the Act. 5 Addition under section 14A of the Act 5.1 The Learned CIT(A) has erred in law and on facts in making an addition under section 14A of the Act by applying Rule 8D of the Income-tax Rules, 1962 ("the Rules") 5.2 The Learned CIT(A) has erred

JCIT vs. STATE BANK OF MYSORE,

In the result, appeal of the Revenue is dismissed

Bench: Smt. P. Madhavi Devi & Shri Jason P. Boaz

depreciation on transfer of securities from AFS category to HTM category. 4. The Ld. CIT(A) erred in restricting the disallowance u/s.14A to 2% of the exempt income which is against the scope of provisions of the Act. 5. Any other ground that may be urged at the time of hearing of the appeal.” 2. As regard ground Nos. 2

UNITED BREWERIES LTD.,,BANGALORE vs. ADDL..C.I.T., BANGALORE

In the result, the appeals are partly allowed

Bench: Shri Vijay Pal Rao & Shri S. Jayaraman

Section 14A of the Act to the extent of old investment is set aside to the record of the Assessing Officer with same direction as given for the Assessment Year 2006-07. Since there is a dividend income for the Assessment Year 2009-10 therefore the decision of Hon'ble Delhi High Court in the case of Cheminvest

CANARA BANK (ERSTWHILE SYNDICATE BANK),BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BANGALORE, BENGALURU

In the result, appeals of the assessee are partly allowed

14A of the Act.\"\n6.1 In view of the above order of this Tribunal cited (supra),\ntaking a consistent view, we allow this ground taken by the\nassessee.\n7.\nGround No.4 of the appeal is with regard to the applicability\nof the provisions of section 115JB of the Act.\n7.1 The A.R of the assessee submitted that

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BENGALURU, BENGALURU vs. CANARA BANK, BENGALURU

In the result, appeal of the revenue in ITA No

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessmentyear: 2017-18

14A of the Act.” 6.1 In view of the above order of this Tribunal cited (supra), taking a consistent view, we allow this ground taken by the assessee. 7. Ground No.3 is with regard totaxing of the profit from the sale of shares of Can Fin Homes Ltd./CARE Ltd as business income instead of income from capital gains

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BENGALURU vs. COFFEE DAY ENTERPRISES LIMITED, BENGALURU

In the result, all the COs by assessee in CO\nNos

2(29A)", "Section 147"], "issues": "Whether disallowance under Section 14A is valid without exempt income, whether additional depreciation is allowable

CANARA BANK (ERSTWHILE SYNDICATE BANK),BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BANGALORE, BENGALURU

In the result, appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

14A of the Act.” 6.1 In view of the above order of this Tribunal cited (supra), taking a consistent view, we allow this ground taken by the assessee. ITA Nos.937 & 938/Bang/2024 M/s. Canara Bank (Erstwhile Syndicate Bank), Bangalore Page 7 of 20 7. Ground No.4 of the appeal is with regard to the applicability of the provisions of section 115JB

M/S INFOSYS LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1), BANGALORE

In the result, the appeal filed by the assessee stands partly allowed

Bench: Shri Chandra Poojaria & Smt. Beena Pillaiassessment Appeal No. Appellant Respondent Year M/S. Infosys Ltd., The Assistant Electronic City, Commissioner It(Tp)A No. Hosur Road, Of Income Tax, 2012-13 718/Bang/2017 Bangalore – 560 Circle – 100. 3(1)(1), Pan: Bangalore. Aaaci4798L : Shri Padamchand Khincha, Assessee By Ca : Shri K.V. Arvind & Shri Dilip, Revenue By Standing Counsels For Dept. Date Of Hearing : 15-09-2022 Date Of Pronouncement : 28-11-2022 Order Per Beena Pillaipresent Appeal Arises Out Of Final Assessment Order Dated 28/02/2017 Passed By The Ld.Acit, Circle – 3(1)(1), Bangalore For A.Y. 2012-13 On Following Grounds Of Appeal: General & Legal Grounds 1. The Order Passed By The Learned Assessing Officer & The Directions Of Hon’Ble Drp To The Extent Prejudicial To The Appellant Is Bad In Law & Liable To Be Quashed. Grounds On Denial Of Deduction Claimed Under Section 10Aa In Respect Of 4 Sez Units Viz., Chennai – Unit 1, Chandigarh, Mangalore - Unit 1 & Pune Unit 1 2. The Learned Assessing Officer Has Erred In Denying Deduction Claimed Under Section 10Aa In The Return Of Income Totally Amounting To Rs. 2227,82,65,630 In Respect

14A read 10 to 13 satisfaction by the AO with rule 8D(2)(iii) Without prejudice, ACIT v Vireet Investment (P) Ltd [2017] 82 taxmann.com 415 – only actual dividend yielded investments should be considered under rule 8D(2)(iii) Karnataka High Court in assessee’s own case Protective disallowance under section vide order dated

DCIT, CENTRAL CIRCLE-1(3), BENGALURU, BENGALURU vs. COFFEE DAY GLOBAL LIMITED, BENGALURU

In the result, all the COs by assessee in CO\nNos

14A r.w. Rule 8D(2)(iii) of\nthe Act, we are in agreement with the finding of the CIT(A) on this issue.\nAccordingly, this ground of appeal of the Revenue in both the appeals is\ndismissed.\"\n14.2 In view of the above order of the Tribunal, we dismiss the\nground taken by the revenue in these assessment years

RAAJRATNA ENERGY HOLDINGS PRIVATE LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BANGALORE

2)(viib) of the Act by the AO may be upheld.\nFor other issue he reiterated the observation of the AO.\n8.\nAt the outset of hearing we noted that Order passed by learned CIT(A)\nis ex-parte Order. However, the addition made by the AO as per the above table\ndo not require further investigation on the facts

RAAJRATNA ENERGY HOLDINGS PRIVATE LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

Accordingly, this\nground is allowed for statistical purposes

2)(viib) of the Act by the AO may be upheld.\nFor other issue he reiterated the observation of the AO.\n8.\nAt the outset of hearing we noted that Order passed by learned CIT(A)\nis ex-parte Order. However, the addition made by the AO as per the above table\ndo not require further investigation on the facts