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186 results for “depreciation”+ Section 56(2)(x)clear

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Key Topics

Addition to Income75Section 143(3)58Transfer Pricing44Section 92C41Section 14A41Disallowance37Comparables/TP26Section 153A25Depreciation25

SUNITA MADHOK ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), , BANGALORE

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

ITA 554/BANG/2018[2006-07]Status: DisposedITAT Bangalore11 Oct 2021AY 2006-07

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H.N. Khincha, CAFor Respondent: Smt. H. Kabila, Addl.CIT(DR)(ITAT), Bengaluru
Section 234BSection 69

X 40.26) as unexplained investment within the meaning of Section 69 of I.T. Act, 1961 and adding it to the total income of the assessee". 5. It can be seen that identical amount in dollar is considered as unexplained investment for all the years and for all the year identical ITA Nos.554 & 555/Bang/2018 Page 5 of 64 conversion rate

SUNITA MADHOK ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), BANGALORE

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

Showing 1–20 of 186 · Page 1 of 10

...
Section 2(15)23
Deduction23
Section 221
ITA 555/BANG/2018[2007-08]Status: DisposedITAT Bangalore11 Oct 2021AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H.N. Khincha, CAFor Respondent: Smt. H. Kabila, Addl.CIT(DR)(ITAT), Bengaluru
Section 234BSection 69

X 40.26) as unexplained investment within the meaning of Section 69 of I.T. Act, 1961 and adding it to the total income of the assessee". 5. It can be seen that identical amount in dollar is considered as unexplained investment for all the years and for all the year identical ITA Nos.554 & 555/Bang/2018 Page 5 of 64 conversion rate

DAKSHINA KANNADA NIRMITHI KENDRA ,MANGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, (EXEMPTIONS), CIRCLE-1,, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2089/BANG/2018[2013-14]Status: DisposedITAT Bangalore16 Jun 2022AY 2013-14

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

DAKSHINA KANNADA NIRMITHI KENDRA ,MANGALURU vs. INCOME TAX OFFICER, WARD 1(1),, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2087/BANG/2018[2011-12]Status: DisposedITAT Bangalore16 Jun 2022AY 2011-12

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

DAKSHINA KANNADA NIRMITHI KENDRA ,MANGALURU vs. INCOME TAX OFFICER, WARD 1(1),, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2088/BANG/2018[2012-13]Status: DisposedITAT Bangalore16 Jun 2022AY 2012-13

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

DAKSHINA KANNADA NIRMITHI KENDRA ,MANGALURU vs. INCOME TAX OFFICER, WARD 1(1),, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2086/BANG/2018[2010-11]Status: DisposedITAT Bangalore16 Jun 2022AY 2010-11

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

M/S. DAKSHINA KANNADA NIRMITHI KENDRA,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTIONS), CIRCLE -1, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 948/BANG/2019[2016-17]Status: DisposedITAT Bangalore16 Jun 2022AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

M/S. UDUPI NIRMITHI KENDRA,UDUPI vs. ASSISTANT COMMISSIONER OF INCOME TAX, (EXEMPTIONS) CIRCLE-1, MANGALORE

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 1962/BANG/2018[2013-14]Status: DisposedITAT Bangalore16 Jun 2022AY 2013-14

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

M/S. UDUPI NIRMITHI KEDRA,UDUPI vs. THE DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTIONS), CIRCLE - 1, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 947/BANG/2019[2016-17]Status: DisposedITAT Bangalore16 Jun 2022AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

section 11 of the IT Act cannot be denied by invoking 1st proviso to section 2 (15) if the primary/ dominant objects are not (a) in the nature of trade, commerce or business; or (b) rendering any service in relation to any trade, commerce or business. 4.29 It is reiterated that the Assessee’s main objects do not involve carrying

WRITEMEN MEDIA PRIVATE LIMITED,BENGALURU vs. INCOME TAX OFFICER,WARD-7(1)(3), BENGALURU

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

ITA 1516/BANG/2024[2014-15]Status: DisposedITAT Bangalore31 Jul 2025AY 2014-15

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyassessment Year : 2014-15

For Appellant: Shri. Ravishankar, AdvocateFor Respondent: Shri. Ashwin D Gowda, Addl. CIT(DR)(ITAT), Bangalore
Section 115JSection 143(3)Section 153Section 56(2)(viib)

x. The learned authorities below placed reliance on the judgement of Hon’ble Court in the case of Agra Portfolio Pvt Ltd Vs ITO Ward 1(4), New Delhi in ITA No. 2189/De/2018 dated 16.05.2018, however, the learned authorities below failed to appreciate the fact that the Hon’ble High Court of Delhi has recently passed a judgement

M/S. GMR ENTERPRISES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(2), BANGALORE

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

ITA 2310/BANG/2019[2015-16]Status: DisposedITAT Bangalore28 Oct 2021AY 2015-16

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am It(Tp)A No.2310/Bang/2019 : Asst.Year 2015-2016 M/S.Gmr Enterprises Pvt. Ltd. The Dy.Commissioner Of (Successor To Gmr Holdings P.Ltd) Income-Tax, Central Circle 2(2) V. Bangalore. No.25/1 Skip House, Museum Rd. Bangalore – 560 025. Pan : Aaccr1554R. (Appellant) (Respondent) Appellant By : Sri.Yogesh Thar, Ca Respondent By : Sri.Sumer Singh Meena, Cit-Dr Date Of Pronouncement : 28.10.2021 Date Of Hearing : 25.10.2021 O R D E R Per Bench:- This Appeal At The Instance Of The Assessee Is Directed Against Final Assessment Order Dated 14.10.20199 Passed U/S 143(3) R.W.S. 144C Of The I.T.Act. The Relevant Assessment Year Is 2015-2016. 2. The Assessee Has Raised Five Grounds & Various Sub Grounds. The Assessee By Its Application Dated 13.07.2020 Has Also Raised An Additional Ground. The Learned Ar During The Course Of Hearing Submitted That Grounds No.Ii & Iii May Be Adjudicated & The Other Grounds May Be Left Open. Therefore, Grounds No.Ii & Iii Are Reproduced Below:-

For Appellant: Sri.Yogesh Thar, CAFor Respondent: Sri.Sumer Singh Meena, CIT-DR
Section 142ASection 143(3)Section 14ASection 56(2)(viib)

section 56(2)(viib) of the Act read with Rule 11UA(2) of the Rules the Ld. AO had no jurisdiction to adopt a different method than the one adopted by the assessee, and if 10 IT(TP)A No.2310/Bang/2019. M/s GMR Enterprises Private Limited. for any reason the AO has any doubt recording such valuation report and does

M/S FLUTURA BUSINESS SOLUTIONS PRIVATE LIMITED ,BANGALORE vs. THE INCOME TAX OFFICER WARD-3(1)(1), BANGALORE

In the result, the appeal is allowed for statistical purpose

ITA 3404/BANG/2018[2013-14]Status: DisposedITAT Bangalore30 Jun 2020AY 2013-14

Bench: Shri N.V.Vasudevan & Shri B.R.Baskaranita No.3404(Bang)/2018 (Assessment Year : 2013-14) M/S Flutura Business Solutions Pvt.Ltd., G-1, Gurupriya Seventh Hill, Bg 12/2/13, 4Th Cross, Iti Hbcs Layout, Bsk 3Rd Stage, Bengaluru-560 004 Pan No.Aabcf9125B Appellant Vs The Income Tax Officer, Ward-3(1)(1), Room No.209, 2Nd Floor, Bmtc Building, Koramanagala, Bangalore Respondent Appellant By : Shri C.Ramesh, Ca Revenue By : Shri Priyadharshini Misra, Addl.Cit

For Appellant: Shri C.Ramesh, CAFor Respondent: Shri Priyadharshini Misra, Addl.CIT
Section 56(2)(viib)

depreciation 14,49,282 ----------------- Revised total income 2,28,37,385 ----------------- 3. The Assessing Officer has brought to tax the share premium of Rs.2,29,31,200/- as income invoking the provisions of section 56(2)(viib) of the Act. As per the provisions of sec.56(2)(viib) of the Act, if a company in which public are not substantially

M/S. MOBICOM TECHNOLOGIES PRIVATE LIMITED,BANGALORE vs. INCOME-TAX OFFICER, WARD-4(1)(4) , BANGALORE

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

ITA 494/BANG/2023[2016-17]Status: DisposedITAT Bangalore12 Sept 2023AY 2016-17

Bench: Shri Chandra Poojari & Ms. Madhumita Royassessment Year : 2016-17

For Appellant: Shri Padam Chand KhinchaFor Respondent: Shri V. Parithivel, JCIT (DR)
Section 142(1)Section 143(2)Section 143(3)Section 56Section 56(2)(viib)

section 56 shall be the value, on the valuation date, of such unquoted equity shares as determined in the following manner under clause (a) or clause (b), at the option of the assessee, namely: - the fair market value of unquoted equity Page 4 1. Shares = (A-L) x (PV) (PE) where, A = book value of the assets in the balance

M/S VOLVO INDIA PVT. LTD. vs. ACIT, BANGALORE

In the result, appeal of the Assessee is partly allowed

ITA 1537/BANG/2012[2008-09]Status: DisposedITAT Bangalore08 May 2019AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

For Appellant: Shri Ajay Vohra, Sr. Advocate &For Respondent: Shri Pradeep Kumar, CIT(DR)(ITAT), Bengaluru
Section 139Section 143Section 143(3)Section 144Section 153(1)Section 18

56. The aforesaid clause is applicable to the transfer of RDB business by IRIL to the Assessee as it was part of the global agreement to take over RDB business of IR worldwide, In terms of the said clause(s), Ingersoll Rand (India) Limited agreed, inter-alia, not to engage directly/indirectly in the business similar

M/S TALLY SOLUTIONS PVT. LTD.,,BANGALORE vs. ACIT, BANGALORE

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

ITA 1364/BANG/2011[2007-08]Status: DisposedITAT Bangalore19 Aug 2016AY 2007-08

Bench: Shri A.K. Garodia & Shri Vijay Pal Rao

For Appellant: Shri Arvind Sonde, Senior CounselFor Respondent: Smt. Neera Malhotra, CIT-II (D.R)
Section 143(3)Section 928Section 92C

56(2) (viib) of the Act. Thus such capital account transaction not falling within a statutory exception cannot be brought to tax as already discussed herein above while considering the challenge to the grounds as mentioned in the impugned order. 39. In tax jurisprudence, it is well settled that following four factors are essential ingredients to a taxing statute

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

ITA 24/BANG/2024[2016-17]Status: DisposedITAT Bangalore31 Oct 2025AY 2016-17

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

For Appellant: Shri. A. Shankar, Sr. AdvocateFor Respondent: Shri. K. M. Mahesh, CIT(DR)(ITAT), Bangalore
Section 153ASection 234ASection 250

56,02,560 - 23,01,09,276 1,41,85,547 24,42,94,823 2017-18 20,40,17,960 - 22,48,58,255 2,06,38,910 31,36,48,443 2018-19 43,78,88,596 - - 79,79,183 44,58,67,779 4. After centralization of the case, notice under section 153A

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

ITA 21/BANG/2024[2013-14]Status: DisposedITAT Bangalore31 Oct 2025AY 2013-14

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

For Appellant: Shri. A. Shankar, Sr. AdvocateFor Respondent: Shri. K. M. Mahesh, CIT(DR)(ITAT), Bangalore
Section 153ASection 234ASection 250

56,02,560 - 23,01,09,276 1,41,85,547 24,42,94,823 2017-18 20,40,17,960 - 22,48,58,255 2,06,38,910 31,36,48,443 2018-19 43,78,88,596 - - 79,79,183 44,58,67,779 4. After centralization of the case, notice under section 153A

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

ITA 22/BANG/2024[2014-15]Status: DisposedITAT Bangalore31 Oct 2025AY 2014-15

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

For Appellant: Shri. A. Shankar, Sr. AdvocateFor Respondent: Shri. K. M. Mahesh, CIT(DR)(ITAT), Bangalore
Section 153ASection 234ASection 250

56,02,560 - 23,01,09,276 1,41,85,547 24,42,94,823 2017-18 20,40,17,960 - 22,48,58,255 2,06,38,910 31,36,48,443 2018-19 43,78,88,596 - - 79,79,183 44,58,67,779 4. After centralization of the case, notice under section 153A

M/S INNOVITI PAYMENT SOLUTIONS PVT LTD ,BANGALORE vs. THE INCOME TAX OFFICER CIRCLE-3(1)(1), BANGALORE

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 1278/BANG/2018[2014-15]Status: DisposedITAT Bangalore09 Jan 2019AY 2014-15

Bench: Shri A. K. Garodia & Shri Laliet Kumarm/S. Innoviti Payment Solutions Pvt. Ltd., Appellant No. 41, 2Nd & 3Rd Floor, Ngr The Edge, Iii Main, V Cross, Sai Baba Mandir Road, Halasuru, Bengaluru – 560008. Pan. Aabci0504M Vs The Ito, Ward – 3 (1) (1), Respondent Bengaluru. Assessee By : Shri B. M. Tambakar, C. A. Revenue By : Shri R. N. Sidappaji, Addl. Cit (Dr) Date Of Hearing : 07 – 12 – 2018 Date Of Pronouncement : 09 – 01 – 2019 O R D E R Per Bench: This Appeal Is Filed By The Assessee Which Is Directed Against The Order Of Cit (A) – 3, Bangalore Dated 23.02.2018 For A. Y. 2014 – 15. 2. The Grounds Raised By The Assessee Are As Under:- “1. Grounds Relating To Natural Justice The Learned Income Tax Officer 3(1)(1) (Hereinafter " Ad") & The Learned Commissioner Of Income Tax (Appeals) - 3 (Hereinafter "Cit-A") Have Erred In Passing The Order Without Considering All The Submissions & / Or Without Appreciating Properly The Facts & Circumstances Of The Case & Law Applicable. 2. Grounds Relating To Rejection Of Equity Shares Valuation Report Issued By Independent Chartered Accountant The Order Of The Learned Ao Passed Under Section 143(3) Of The Income Tax Act, 1961 (`The Act') & Confirmed By Learned Cit-A Is Erroneous In Reckoning That Share Premium Collected Is Above Fair Market Value & Thereby Liable To Tax In Pursuance To Section 56(2)(Viib) By Adopting Rule 11Ua(A) To The Exclusion Of The Option Under Rule 11Ua(B) As Opted By The Assessee Without Taking

For Appellant: Shri B. M. Tambakar, C. AFor Respondent: Shri R. N. Sidappaji, Addl. CIT (DR)
Section 143(3)Section 56Section 56(2)(viib)

2) of section 56 shall be the value, on the valuation date, of such unquoted equity shares as determined in the following manner under clause (a) or clause (b), at the option of the assessee, namely:— (a) the fair market value of unquoted equity shares = (A-L) X (PV), (PE) where, A = book value of the assets in the balance

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

ITA 718/BANG/2017[2012-13]Status: DisposedITAT Bangalore28 Nov 2022AY 2012-13

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

Section 10ASection 14ASection 2Section 2(24)Section 40

X is not included in the definition of ‘income’ u/s 2(24) or under Chapter IV of the IT Act, 1961. The orders passed by the lower authorities are therefore bad in law and liable to be quashed. 8. The learned assessing officer and transfer pricing officer have erred in making a transfer pricing adjustment