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

14 of the Act r.w.r. 8D(2)(ii) of the Rules for Assessment Year 2008-09 are allowed. 4.5.1 As regards the disallowances under section 14A of the Act r.w.r. 8D(2)(iii

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)

14,691/-\nd) Disallowance u/s.14A – Rs.53,61,903/-\n6.\nInsofar as the assessment year 2020-21 is concerned, the AO made\nthe additions under the following heads.\na) Disallowing the quantum of purchases of tendu leaves for want of\ndocumentation – Rs.1,55,45,376/-\nb) The addition made under the head undervaluation of stock u/s.145A\nof the Act – Rs.68

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

14,691/-\nd) Disallowance u/s. 14A – Rs. 53,61,903/-\n6.\nInsofar as the assessment year 2020-21 is concerned, the AO made\nthe additions under the following heads.\na) Disallowing the quantum of purchases of tendu leaves for want of\ndocumentation – Rs. 1,55,45,376/-\nb) The addition made under the head undervaluation of stock u/s. 145A

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.

iii), only the\nPage 7 of 74\nITA Nos.642 to 645/Bang/2024\naverage value of those investments wherein all streams of\nincome are exempted, shall alone be taken\ninto\nconsideration.\n8. 9. The Lower Authorities have failed to appreciate\nthat the disallowance of expenditure incurred to earn\nexempted income has to be a smaller part of exempt\nincome and should

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

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

disallowance made by the Assessing Officer. 14. We have heard the learned Authorised Representative as well as learned Departmental Representative and considered the relevant material on record. There is no dispute that the assessee has borrowed the term loan for the purpose of expanding its business and therefore the interest expenditure incurred on the borrowed fund used for expansion

G VIJAY PADMA ,BANGALORE vs. INCOME TAX OFFICER WARD-7(2)(1), BANGALORE

In the result, the assessee's appeal is dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillaismt. G Vijay Padma, No.206, 1St Floor, 10Th D Main, 5Th Cross, 1St Block, Jayanagar, Bengaluru-560 011 Pan Abcpv 8123E ….Appellant Vs. Income Tax Officer, Ward 7(2)(1), Bengaluru. ……Respondent. Assessee By: Shri P. R. Mathad, C.A. Revenue By: Smt. R. Premi, Jcit (D.R)

disallowing the claim of expenditure for vacating the tenants and also commission paid. During the first round of dispute, the Tribunal passed an order and observed that the applicability of clauses (a) and (b) of Section 2(14)(iii

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

14,691/-\n\nd) Disallowance u/s.14A – Rs.53,61,903/-\n\n6.\nInsofar as the assessment year 2020-21 is concerned, the AO made\nthe additions under the following heads.\n\na) Disallowing the quantum of purchases of tendu leaves for want of\ndocumentation – Rs.1,55,45,376/-\n\nb) The addition made under the head undervaluation of stock u/s.145A

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

disallows certain expenditure\nincurred to earn exempt income from being deducted from other\nincome which is includable in the total income for the purposes of\nchargeability to the tax. It is equally well settled that expenditure is a\npay out, in order to attract applicability of section 14-A of the Act, there\nhas

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

2)(iii) Karnataka High Court in assessee’s own case Protective disallowance under section vide order dated 20.9.2021 in ITA No 40(a)(i) in respect of subscription 14

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

section 36(1)(iii) of the Act and therefore uphold his decision in the matter. Accordingly Grounds no.14 & 15 of Revenue’s appeal are dismissed.” The CIT(A) has only followed the decision of this Tribunal in the assessee’s own case for the earlier assessment year 2009-10. Respectfully following the decision of the co-ordinate bench to which

THE KARNATAKA STATE COOPERATIVE AGRICULTURE AND DEVELOPMENT BANK LIMITED ,BANGLAORE vs. INCOME TAX OFFICER, WARD-5(2)(1), BENGALURU

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2022-23

14,068/- - Interest on investment Rs. 16,59,75,667/- - Interest on other advances. Rs. 1,77,67,660/- - Other income Rs. 83,31,614/- 12.4 By the AO, the incomes other than interest on loan through PCARD, aggregating to Rs. 19,20,74,941/- was considered as not attributable to business of providing credit facility under section 80P(2

INCOME TAX OFFICER WARD-6(2)(3), BANGALORE vs. MR.P N KRISHNAMURTHY , BANGALORE

Bench: Shri N.V.Vasudevan, Vice- & Shri Chandra Poojari

disallowance of Rs.8,75,000 towards unsecured loan and deciding the matter based on additional evidences submitted by the assessee in spite of the fact that the assessee could not produce any documents during the assessment proceedings which is contravened to the provision of Rule 46A(3). 5. On the facts and circumstances of the case, whether

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

disallowance under section 14A as per Rule 8D(2)(iii) relying on certain decisions and Circular No.5/2014 dated 11.2.2014. Following the DRP directions, the ld.AO has made an addition of Rs.1,58,09,987 under section 14A read with rule 8D(2)(iii). IT(TP)A No.735/Bang/2018 & M/s. Infosys Limited, Bangalore Page 14

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

disallowance under section 14A as per Rule 8D(2)(iii) relying on certain decisions and Circular No.5/2014 dated 11.2.2014. Following the DRP directions, the ld.AO has made an addition of Rs.1,58,09,987 under section 14A read with rule 8D(2)(iii). IT(TP)A No.735/Bang/2018 & M/s. Infosys Limited, Bangalore Page 14

INCOMETAX OFFICER, WARD 1, UDUPI, UDUPI vs. BRAHMAVARA VYAVASAYA SEVA, BRAHMAVARA

In the result, the appeals filed by Revenue are allowed and the COs\nfiled by the assessee are allowed for statistical purposes

disallowance under\nsection 80P(2)(d) of the Act.\n5.\nAs regards the Assessment Years 2018-19 and 2020-21, the AO\nnoticed that the assessee had claimed deduction under section 80P(2)(a)(i)\nof the Act for the interest income earned from investments with co-\noperative banks. The AO was of the view that the aforesaid interest income

THE KARNATAKA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT BANK ,BENGALURU vs. INCOME-TAX OFFICE, WARD-5(2)(1), BENGALURU

In the result, the appeals filed by the assessee stands partly\nallowed as indicated herinabove

14 of 48\nITA Nos. 1052 to 1060/Bang/2023\nAppeal No.\n Assessment Year Ground Number\nITA No. 1052/Bang/2023\n2012-13\n2, 5, 6\nITA No. 1054/Bang/2023\n2013-14\n3, 6, 7\nITA No. 1055/Bang/2023\n2014-15\n2, 5, 6, 7\nITA No. 1056/Bang/2023\n2015-16\n2\nITA No. 1057/Bang/2023\n2016-17\n2\nITA No. 1058/Bang/2023\n2017-18\n2\nITA

THE KARNATAKA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT BANK,BENGALURU vs. INCOME TAX OFFICER, WARD-5(2)(1) , BANGALORE

14 of 48\nITA Nos. 1052 to 1060/Bang/2023\nAppeal No.\n Assessment Year Ground Number\nITA No. 1052/Bang/2023\n2012-13\n2, 5, 6\nITA No. 1054/Bang/2023\n2013-14\n3, 6, 7\nITA No. 1055/Bang/2023\n2014-15\n2, 5, 6, 7\nITA No. 1056/Bang/2023\n2015-16\n2\nITA No. 1057/Bang/2023\n2016-17\n2\nITA No. 1058/Bang/2023\n2017-18\n2\nITA

INCOME TAX OFFICER, WARD 1, UDUPI, UDUPI vs. BRAHMAVARA VYAVASAYA SEVA, BRAHMAVARA

In the result, the appeals filed by Revenue are allowed and the COs\nfiled by the assessee are allowed for statistical purposes

disallowance under\nsection 80P(2)(d) of the Act.\n5. As regards the Assessment Years 2018-19 and 2020-21, the AO\nnoticed that the assessee had claimed deduction under section 80P(2)(a)(i)\nof the Act for the interest income earned from investments with co-\noperative banks. The AO was of the view that the aforesaid interest income