FARMERS AGRICULTURE SOCIETY LTD KOPPACREDIT CO OPERATIVE,PERIAPATNA vs. INCOME TAX OFFICER, WARD 1(4), MYSURU

Bench: Shri Narender Kumar Choudhry & Shri Laxmi Prasad Sahu

section 80P(2)(a)(i) of the Income Tax Act, 1961 . [Ground No. 2.2] ITA Nos. 65 & 71/Bang/2024 Page 5 of 18 1.3 The appellant society would like to state that, the appellant has earned interest income from its investments with State Bank of India, out of its own funds i.e. share capital, reserves & surplus, profits of the current

FARMERS AGRICULTURE CREDIT CO OPERATIVE SOCIETY LTD KOPPA,PERIAPATNA vs. INCOME TAX OFFICER, MYSURU

Bench: Shri Narender Kumar Choudhry & Shri Laxmi Prasad Sahu

section 80P(2)(a)(i) of the Income Tax Act, 1961 . [Ground No. 2.2] ITA Nos. 65 & 71/Bang/2024 Page 5 of 18 1.3 The appellant society would like to state that, the appellant has earned interest income from its investments with State Bank of India, out of its own funds i.e. share capital, reserves & surplus, profits of the current

M/S. TATA ELXSI LIMITED., ,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, CIRCLE-7(1)(1), BANGALORE

In the result, all the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri George George K. & Shri Chandra Poojari

depreciation, Section 32AB gives deductions in respect of certain investment allowance. After providing for admissible deductions to an assessee, income under this head is ascertained. In a similar way, as noted above, income under the other heads is worked out. If a particular assessee has income under more than one heads, in the income tax returns, the said assessee would

UPPUR VYAVASAYA SEVA SAHAKARI SANGHA NIYAMITA ,UDUPI vs. INCOME TAX OFFICER, WARD-2, UDUPI

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

Bench: Shri Laxmi Prasad Sahu & Shri Soundararajan K., Judciial Member Assessment Year : 2017-18

Section 80P(2)(a), considering its intact cooperative framework. This request also aligns with the principles set forth in CBDT Circular No. 37/2016, which explicitly states that enhanced profits, subsequent to the making of additions and disallowances, should be eligible for deductions under Chapter VI A of the Act. 4. The appellant craves leave to add, amend, alter, omit

M/S HASSAN CO-OPERATIVE MILK PRODUCERS SOCIETIES UNION LTD ,HASSAN vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1, HASSAN

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

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year: 2014-15

80P(2)(e) of the Act. The Ld. CIT(A) confirmed both the disallowances and hence the assessee has filed this appeal before us. 3. The first issue relates to disallowance of claim of additional depreciation. During the year under consideration, the assessee made addition to plant and machinery to the extent of Rs.8,80,55,883/-. The assessee claimed

M/S. NANDI HOSPITALITY SERVICES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3(1)(1), BANGALORE

In the result, all the three appeals filed by the assessee are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

80P however return is not filed within due date". Against this observation the assessee filed writ petition before the Hon'ble Madras High Court and the writ petition has been dismissed by observing as under: - "7. The scope of an 'intimation' under section 143(1)(a) of the Act, extends to the making of adjustments based upon errors apparent from

M/S. NANDI HOSPITALITY SERVICES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3(1)(1), BANGALORE

In the result, all the three appeals filed by the assessee are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

80P however return is not filed within due date". Against this observation the assessee filed writ petition before the Hon'ble Madras High Court and the writ petition has been dismissed by observing as under: - "7. The scope of an 'intimation' under section 143(1)(a) of the Act, extends to the making of adjustments based upon errors apparent from

M/S. NANDI HOSPITALITY SERVICES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3(1)(1), BANGALORE

In the result, all the three appeals filed by the assessee are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

80P however return is not filed within due date". Against this observation the assessee filed writ petition before the Hon'ble Madras High Court and the writ petition has been dismissed by observing as under: - "7. The scope of an 'intimation' under section 143(1)(a) of the Act, extends to the making of adjustments based upon errors apparent from

MASS FAB TECHNOLOGIES,BANGALORE vs. CIT(APPEALS), BANGALORE

In the result, both the appeals filed by different assessees are partly allowed for statistical purposes

Bench: Shri Chandra Poojariassessment Year: 2020-21

80P however return is not filed within due date". Against this observation the assessee filed writ petition before the Hon'ble Madras High Court and the writ petition has been dismissed by observing as under: - ITA No.995 & 1079/Bang/2022 Itek Packz, Bangalore Page 18 of 20` "7. The scope of an 'intimation' under section 143(1)(a) of the Act, extends

ITEK PACKZ,BANGALORE vs. INCOME TAX OFFICER, WARD-3(2)(4), BANGALORE

In the result, both the appeals filed by different assessees are partly allowed for statistical purposes

Bench: Shri Chandra Poojariassessment Year: 2020-21

80P however return is not filed within due date". Against this observation the assessee filed writ petition before the Hon'ble Madras High Court and the writ petition has been dismissed by observing as under: - ITA No.995 & 1079/Bang/2022 Itek Packz, Bangalore Page 18 of 20` "7. The scope of an 'intimation' under section 143(1)(a) of the Act, extends

M/S. NIRMAL ENVIRO SOLUTIONS PRIVATE LIMITED,BENGALURU vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1), BANGALORE

In the result, both the appeals filed by different assessees are partly allowed for statistical purposes

Bench: Shri Chandra Poojarishri Panati Vidyanath Reddy Vs Acit, Circle - 4(3)(1) 10, 32Nd Main, 5Th Cross Bengaluru Dollars Colony, Btm Layout 1St Stage, Bengaluru 560068 Pan – Afmpr3580F (Appellant) (Respondent) M/S. Nirmal Enviro Solutsions P. Ltd. Vs Acit, Circle - 3(1)(1) 26, 9Th Cross, 16Th Main Bengaluru Btm Layout, 1St Stage Bengaluru 560068 Pan – Aadcn1064H (Appellant) (Respondent) Assessee By: Miss Sunaiana Bhatia, Ca Revenue By: Shri Ganesh R. Ghale, Standing Counsel Date Of Hearing: 18.01.2023 Date Of Pronouncement: 18.01.2023 O R D E R Per: Chandra Poojari, A.M.

80P however return is not filed within due date". Against this observation the assessee Nirmal Enviro Solutions P. Ltd. filed writ petition before the Hon'ble Madras High Court and the writ petition has been dismissed by observing as under: - "7. The scope of an 'intimation' under section 143(1)(a) of the Act, extends to the making of adjustments

SRI PANATI VIDYANATH REDDY ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(3)(1), BANGALORE

In the result, both the appeals filed by different assessees are partly allowed for statistical purposes

Bench: Shri Chandra Poojarishri Panati Vidyanath Reddy Vs Acit, Circle - 4(3)(1) 10, 32Nd Main, 5Th Cross Bengaluru Dollars Colony, Btm Layout 1St Stage, Bengaluru 560068 Pan – Afmpr3580F (Appellant) (Respondent) M/S. Nirmal Enviro Solutsions P. Ltd. Vs Acit, Circle - 3(1)(1) 26, 9Th Cross, 16Th Main Bengaluru Btm Layout, 1St Stage Bengaluru 560068 Pan – Aadcn1064H (Appellant) (Respondent) Assessee By: Miss Sunaiana Bhatia, Ca Revenue By: Shri Ganesh R. Ghale, Standing Counsel Date Of Hearing: 18.01.2023 Date Of Pronouncement: 18.01.2023 O R D E R Per: Chandra Poojari, A.M.

80P however return is not filed within due date". Against this observation the assessee Nirmal Enviro Solutions P. Ltd. filed writ petition before the Hon'ble Madras High Court and the writ petition has been dismissed by observing as under: - "7. The scope of an 'intimation' under section 143(1)(a) of the Act, extends to the making of adjustments

TATA ELXSI LIMITED ,BANGALORE vs. DEPUTY COMMISIONER INCOMER TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Shri Narender Kumar Choudhry & Shri Laxmi Prasad Sahuassessment Year : 2018-19 M/S. Tata Elxsi Ltd., The Deputy 126, Itpb Road, Commissioner Hoody, Of Income Tax, Whitefield, Circle – 7(1)(1), Bangalore – 560 048. Bangalore. Vs. Pan: Aaact7872Q Appellant Respondent

depreciation, Section 32AB gives deductions in respect of certain investment allowance. After providing for admissible deductions to an assessee, income under this head is ascertained. In a similar way, as noted above, income under the other heads is worked out. If a particular assessee has income under more than one heads, in the income tax returns, the said assessee would

HASSAN CO-OPERATIVE MILK PRODUCERS SOCIETIES UNION LIMITED,HASSAN vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-1, HASSAN

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

Bench: Shri George George K & Shri Waseem Ahmedassessment Years: 2017-18

section 32(1)(iia ). In the light of the aforesaid decision, we are of the view that one of the basis on which the revenue authorities disallowed the claim of the Assessee for disallowance of additional depreciation cannot be sustained.” 8. Hence, we are convinced with the alternative contention of the assessee. We have earlier noticed that

CANARA BANK,BANGALORE vs. JCIT, BANGALORE

In the result, appeal by the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

depreciation in the value of assets, if any, as on the date of balance on account of fall in values of investments should be allowed as a deduction in computing profits and gains of business of the banking company. In support of this, he relied on CBDT circular No.18/2015 dated 2/11/2015 and also on the following precedents: a. UCO Bank

M/S. CANARA BANK,BANGALORE vs. ACIT, BANGALORE

In the result, appeal by the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

depreciation in the value of assets, if any, as on the date of balance on account of fall in values of investments should be allowed as a deduction in computing profits and gains of business of the banking company. In support of this, he relied on CBDT circular No.18/2015 dated 2/11/2015 and also on the following precedents: a. UCO Bank

JCIT, BANGALORE vs. M/S CANARA BANK, BANGALORE

In the result, appeal by the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

depreciation in the value of assets, if any, as on the date of balance on account of fall in values of investments should be allowed as a deduction in computing profits and gains of business of the banking company. In support of this, he relied on CBDT circular No.18/2015 dated 2/11/2015 and also on the following precedents: a. UCO Bank

ADDL.CI.T., BANGALORE vs. M/S CANARA BANK, BANGALORE

In the result, appeal by the revenue is partly allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

depreciation in the value of assets, if any, as on the date of balance on account of fall in values of investments should be allowed as a deduction in computing profits and gains of business of the banking company. In support of this, he relied on CBDT circular No.18/2015 dated 2/11/2015 and also on the following precedents: a. UCO Bank