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

26,499/- in Assessment Year 2010-11 and did not suo moto disallow in its accounts any ITA Nos.528 to 530/Bang/2018 Page 12 of 22 amount on account of expenditure incurred in earning such exempt dividend income. The AO, after considering the explanations put forth by the assessee that no disallowance was warranted u/s 14A of the Act, proceeded

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

26,499/- in Assessment Year 2010-11 and did not suo moto disallow in its accounts any ITA Nos.528 to 530/Bang/2018 Page 12 of 22 amount on account of expenditure incurred in earning such exempt dividend income. The AO, after considering the explanations put forth by the assessee that no disallowance was warranted u/s 14A of the Act, proceeded

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

26,499/- in Assessment Year 2010-11 and did not suo moto disallow in its accounts any ITA Nos.528 to 530/Bang/2018 Page 12 of 22 amount on account of expenditure incurred in earning such exempt dividend income. The AO, after considering the explanations put forth by the assessee that no disallowance was warranted u/s 14A of the Act, proceeded

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

10 above, the protective disallowance, if any, is to be limited to the amount of subscription charges payable to M/s Forester Research and M/s Gartner as on 31st March 2012 and no disallowance is to be made in respect of subscription charges actually paid during the relevant previous year. Grounds on disallowance under section

M/S KBD SUGARS & DISTILLERIES LTD. vs. ACIT,

In the result, the appeals of the assessee for the Assessment Years 2008-

section 40A(2) and made a proportionate disallowance of interest expenditure. The CIT (Appeals) has deleted the disallowance made by the Assessing Officer. In para 4.4 to 4.7 of the impugned order as under : “ 4.4 I have carefully considered the appellant’s submissions and the reasons given by the AO in the assessment order. The AO noted that the appellant

M/S UNITED BREWERIES LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(1), BANGALORE

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

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

26 M/s.United Breweries Limited. “Re: Disallowance of INR 3,85,15,497/- being sponsorship fees paid to ICC 87. In Grounds No. 7 to 7.3 in I.T.A. No. 1044/DEL/2014 for AY 2009-10, the assessee has challenged the disallowance of INR 3,85,15,497/- being sponsorship fees paid by the assessee to ICC. Our attention was drawn to paras

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

section 80JJAA being disallowed. 17.1. The Ld.AR submitted that copy of the Audit report under section 80JJAA, being Form No. 10DA was submitted to the Ld.AO vide submission dated 28.5.2014. The Ld.AO thereafter called upon assessee to justify the allowability of deduction under section 80JJAA. The assessee explained in detail as to why deduction under section 80JJAA should be allowed

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

section 80JJAA being disallowed. 17.1. The Ld.AR submitted that copy of the Audit report under section 80JJAA, being Form No. 10DA was submitted to the Ld.AO vide submission dated 28.5.2014. The Ld.AO thereafter called upon assessee to justify the allowability of deduction under section 80JJAA. The assessee explained in detail as to why deduction under section 80JJAA should be allowed

INFOSYS LTD.,,BANGALORE vs. ADDL.C.I.T, BANGALORE

In the result, Revenue’s appeal for A

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boaz

10. Ground No.4.1 & 4.2 - Disallowance U/s. 40(a)(i) of the Act. 10.1 These grounds are raised in respect of the disallowance of software expenses paid to overseas entities amounting to Rs.11,94,50,304 under Section 40(a)(i) of the Act for failure to deduct tax at source thereon under Section 195 of the Act. 10.2.1 We have

M/S. A. SHAMA RAO FOUNDATION,MANGALORE vs. THE CHIEF COMMISSIONER OF INCOME TAX, PANAJI, GOA

In the result, the appeal by the assessee is allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2017-18

Section 10(23C) of the Act into play. In so far as this allegation is concerned, it is submitted that the appellant has established that the aforesaid payments made were never claimed as application of income at all and that thus the conditions imposed in the order of approval are not violated. Furthermore, the appellant had not earned a surplus

JUPITER CAPIAL P. LTD. vs. CIT, BANGALORE

In the result, ITA No. 60/Bang/2012 and 253/Bang/2014 of the assessee are partly allowed for statistical purposes and ITA

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoassessee’S Appeal

26,58,6021- made under the provisions of section 14A of the act r.w. Rule 8D of the Rules. iii) Delete the disallowance of Rs.5,85,6001- out of the financial charges. iv) Hold that the investments in subsidiaries are for the benefit of appellant business and the provisions of section 14A has no application for such investments. v) Hold

ACIT, BANGALORE vs. M/S JUPITER CAPITAL (P) LTD.,, BANGALORE

In the result, ITA No. 60/Bang/2012 and 253/Bang/2014 of the assessee are partly allowed for statistical purposes and ITA

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoassessee’S Appeal

26,58,6021- made under the provisions of section 14A of the act r.w. Rule 8D of the Rules. iii) Delete the disallowance of Rs.5,85,6001- out of the financial charges. iv) Hold that the investments in subsidiaries are for the benefit of appellant business and the provisions of section 14A has no application for such investments. v) Hold

M/S JUPITER CAPITAL (P) LIMITED,BANGALORE vs. ACIT, BANGALORE

In the result, ITA No. 60/Bang/2012 and 253/Bang/2014 of the assessee are partly allowed for statistical purposes and ITA

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoassessee’S Appeal

26,58,6021- made under the provisions of section 14A of the act r.w. Rule 8D of the Rules. iii) Delete the disallowance of Rs.5,85,6001- out of the financial charges. iv) Hold that the investments in subsidiaries are for the benefit of appellant business and the provisions of section 14A has no application for such investments. v) Hold

M/S. IBM INDIA PVT. LTD.,,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-4(1)(2), BENGALURU

In the result appeal filed by assessee stands partly allowed

Bench: Shri. B. R. Baskaran & Smt. Beena Pillai

Section 92CC with the caption “Advance Pricing Agreement” provides through sub-section (1): `The Board, with the approval of the Central Government, may enter into an advance pricing agreement with any person, determining the arm's length price … in relation to an international transaction …’. Sub-section (2) gives the manner of determination of the ALP referred to in sub-section

M/S. BHARAT BEEDI WORKS PRIVATE LIMITED ,MANGALURU vs. ASSISTANT COMMISIONER OF INCOME TAX, CIRCLE - 2(1) , MANGALURU

Bench: Shri Laxmi Prasad Sahu\Nand\Nshri Soundararajan K.\Nita Nos.642 To 645/Bang/2024\N Assessment Years : 2017-18 To\N2020-21\Nm/S. Bharat Beedi Works\Nprivate Limited,\Ngolden Jubilee Building,\Nbharath Bagh,\Nkadri Road,\Nmangaluru – 575 002.\Npan: Aaacb9001B\Nappellant\Nassessee By\Nrevenue By\N: Shri Chythanya .K, Sr.\Nadvocate\N: Shri E. Shridhar, Cit-Dr\Ndate Of Hearing\Ndate Of Pronouncement\Norder\Nper Bench\Nthese Are The Appeals Filed By The Assessee Challenging The Orders Of\Nthe Ld.Cit(A) -2, Panaji Dated 30/01/2024 In Respect Of The A.Ys.2017-18,\N2018-19, 2019-20 & 2020-21. The Grounds Raised By The Assessee For\Neach Of The Assessment Years Are Extracted Hereunder For The Sack Of\Nconvenience.\Npage 2 Of 74\Nita Nos.642 To 645/Bang/2024\N Assessment Year 2017-18:\N“1. The Impugned Orders Of The Lower Authorities Are Not\Njustified In Law & On The Facts & Circumstances Of The\Ncase.\N2. The Impugned Assessment Proceedings & The\Nimpugned Assessment Order Under Section 143(3) Dated\N29.11.2021 Are Bad & Non-Est Since The Notice Under\Nsection 143(2) Dated 13.08.2018 Was Issued Without\Naffixing Any Signature Either Manually Or Digitally.\N3. Without Prejudice To The Above, Impugned Assessment\Nproceedings & The Impugned Assessment Order Under\Nsection 143(3) Dated 29.11.2021 Are Bad & Non-Est\Nbeing Based On The Notice Under Section 143(2) Dated\N13.08.2018 Which Is Vague, Without Of Application Of Mind\Nand Contrary To Section 143(2) & Applicable Board\Ncirculars & Instructions.\N4. As Regards Disallowance Under Section 14A U/S Rule\N8D(2)(Ii):\N4.

Section 132(4).\nPage 26 of 74\nITA Nos.642 to 645/Bang/2024\n16. 8. The Learned AO erred in making the impugned\naddition merely on the basis of statements extracted from\nthe Appellant during search proceedings under coercion,\nwhen the same were retracted by the Appellant vide\nletters dated 06.01.2021 (the copy of same was also filed\nbefore Learned Ad.CIT

DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION), CIRCLE-1, BENGALURU vs. M/S. MAHATMA GANDHI VIDYAPEETHA TRUST, BENGALURU

In the result, appeal of the Revenue is dismissed while cross objection by the Assessee is allowed

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

26. It is also pertinent to mention that CBDT Circular No.14/Bang/2015 dated 17/8/2015 has given guidelines regarding generation of surplus out of gross receipts. This Circular was issued in the context of provision of sec. 10(23C)(vi) of the Act. The CBDT has opined that mere generation of surplus by educational institution cannot be basis to reject application

BRIGADE ENTERPRISES LTD,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX,, BANGALORE

In the result, the assessee’s appeal is treated as partly allowed

Bench: Smt. P. Madhavi Devi & Shri Abraham P Georgem/S.Brigade Enterprises Ltd., 29Th & 30Th Floor, World Trade Centre, Brigade Gateway Campus, 26/1, Dr.Rajkumar Road, Rajajinagar, Bangalore-560055. … Appellant Pan: Aaacb7459F Vs. Addl. Commissioner Of Income-Tax, Range-11, Bangalore. … Respondent

26,499/- out of which Rs.37,64,000/- was by way of dividend on investment in Mutual Funds and Rs.4,62,500/- was the dividend on investment in shares of M/s.Tandem Allied Services (P) Ltd., which is exempt u/s 10(35) of the Act. Assessee submitted that the funds used for investment are out of advances from customers

M/S. SJR ENTERPRISES PRIVATE LIMITED ,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6(1)(1), BANGALORE

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadavassessment Year: 2009-10

disallow the deduction claimed by the Assessee under section 80-IB(10) of the Act of Rs.8,35,14,758/- and proceeded to determine the tax liability of the Assessee at Rs. 4,93,09,358/. 2.6 Aggrieved, the Assessee filed appeal before the ld. Commissioner of Income-tax, National Faceless Appeal Centre, Delhi /('CIT(A)') against the impugned order