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

47 PM\nNONACC (FI)/ kacrsf108/ CHAMRAJPET/KA-BV\nSUBIN-KAKACRSFL0891976534819913V\nTHE KSCA AND RD BANK LTD\nArticle 4 Affidavit\nAffidavit\n0\n(Zero)\nTHE KSCA AND RD BANK LTD\nTHE INCOME TAX OFFICER WARD 521 BENGALURU\nTHE KSCA AND RD BANK LTD\n20\n(Twenty only)\nEmployees\nCO-OP. S\nChamarajpet\nBangalore-18\nOTARY*\nZ/MAMATHAN.K\n* BALLB.\nBENGALURU\nINDIA\nGOVT

DASA SHETTY KANTHA,BANGALORE vs. ACIT CIRCLE 6(3)(1), BANGALORE, BANGALORE

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

47)(v) of the Act. Therefore, the addition made\nby the AO and confirmed by the Id. CIT(A) is not sustainable and\ndeserves to be deleted. Hence, the ground of appeal of the assessee is\nhereby allowed.\n16.13 As the main argument of assessee is allowed, we do not find\nnecessary to adjudicate alternate grounds of appeal. Hence

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

47 PM\nAccount Reference\nNONACC (FI)/ kacrsf108/ CHAMRAJPET/KA-BV\nUnique Doc. Reference\nSUBIN-KAKACRSFL0891976534819913V\nPurchased by\nTHE KSCA AND RD BANK LTD\nDescription of Document\nArticle 4 Affidavit\nDescription\nAffidavit\nConsideration Price (Rs.)\n0\n(Zero)\nFirst Party\nTHE KSCA AND RD BANK LTD\nSecond Party\nTHE INCOME TAX OFFICER WARD 5 2 1 BENGALURU\nStamp Duty Paid By\nTHE KSCA

DASA SHETTY KANTHA,BANGALORE vs. ACIT CIRCLE 3(2)(1), BANGALORE, BANGALORE

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

disallowing certain expenses. The Commissioner (Appeals) confirmed the AO's order.", "held": "The Tribunal held that the transaction did not constitute a transfer under Section 2(47)(v

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

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

47 PM\nNONACC (FI)/ kacrsf108/ CHAMRAJPET/KA-BV\nSUBIN-KAKACRSFL0891976534819913V\nTHE KSCA AND RD BANK LTD\nArticle 4 Affidavit\nAffidavit\n0\n(Zero)\nTHE KSCA AND RD BANK LTD\nTHE INCOME TAX OFFICER WARD 521 BENGALURU\nTHE KSCA AND RD BANK LTD\n20\n(Twenty only)\nEmployees\nCO-OP. S\nChamarajpet\nBangalore-18\nOTARY*\nZ/MAMATHAN.K\n* BALLB.\nBENGALURU\nINDIA\nGOVT. OF\nReg

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

47 of 74\nITA Nos.642 to 645/Bang/2024\nhas made disallowance under Section 14A on a wrong notion that\nthe disallowance is presumptive in nature even when the\nexpenditure is not actually incurred.\n\n6. 6. It is submitted that the Learned DR has not brought anything contrary\nto the above submissions in his objections dated 30.01.2025.\nTherefore, the disallowance made

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

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

47 PM\nNONACC (FI)/ kacrsf108/ CHAMRAJPET/KA-BV\nSUBIN-KAKACRSFL0891976534819913V\nTHE KSCA AND RD BANK LTD\nArticle 4 Affidavit\nAffidavit\n0\n(Zero)\nTHE KSCA AND RD BANK LTD\nTHE INCOME TAX OFFICER WARD 521 BENGALURU\nTHE KSCA AND RD BANK LTD\n20\n(Twenty only)\nPlease write or type below thes\nEmployees\nCO-OP. S\nChamarajpet\nBangalore-18\nOTARY*\nZ/MAMATHAN.K

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

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

47 PM\nNONACC (FI)/ kacrsf108/ CHAMRAJPET/KA-BV\nSUBIN-KAKACRSFL0891976534819913V\nTHE KSCA AND RD BANK LTD\nArticle 4 Affidavit\nAffidavit\n0\n(Zero)\nTHE KSCA AND RD BANK LTD\nTHE INCOME TAX OFFICER WARD 521 BENGALURU\nTHE KSCA AND RD BANK LTD\n20\n(Twenty only)\nBEFORE THE HONOURABLE INCOME TAX APPELLATE TRIBUNAL\nBANGALORE BENCH\nIn the Matter of\nThe Karnataka State

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

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

47 PM\nNONACC (FI)/ kacrsf108/ CHAMRAJPET/KA-BV\nSUBIN-KAKACRSFL0891976534819913V\nTHE KSCA AND RD BANK LTD\nArticle 4 Affidavit\nAffidavit\n0\n(Zero)\nTHE KSCA AND RD BANK LTD\nTHE INCOME TAX OFFICER WARD 521 BENGALURU\nTHE KSCA AND RD BANK LTD\n20\n(Twenty only)\nBEFORE THE HONOURABLE INCOME TAX APPELLATE TRIBUNAL\nBANGALORE BENCH\nThe Karnataka State Co-\noperative Agriculture

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

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

v. ACIT(supra) has analysed relevant provisions of\n\"Karnataka Ceiling on Government Guarantees Act, 1999 and\nhas observed as under:\n\n“13. It is thus abundantly clear that the Guarantee is not\nexclusively given by the State Government only to the\nAssessee which is a State Government undertaking but to\nvarious Government Departments, Public Sector\nundertakings, Local Authorities

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

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

47 PM\nNONACC (FI)/ kacrsf108/ CHAMRAJPET/KA-BV\nSUBIN-KAKACRSFL0891976534819913V\nTHE KSCA AND RD BANK LTD\nArticle 4 Affidavit\nAffidavit\n0\n(Zero)\nTHE KSCA AND RD BANK LTD\nTHE INCOME TAX OFFICER WARD 521 BENGALURU\nTHE KSCA AND RD BANK LTD\n20\n(Twenty only)\nBEFORE THE HONOURABLE INCOME TAX APPELLATE TRIBUNAL\nBANGALORE BENCH\nIn the Matter of\nThe Karnataka State

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

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

47 PM\nNONACC (FI)/ kacrsf108/ CHAMRAJPET/KA-BV\nSUBIN-KAKACRSFL0891976534819913V\nTHE KSCA AND RD BANK LTD\nArticle 4 Affidavit\nAffidavit\n0\n(Zero)\nTHE KSCA AND RD BANK LTD\nTHE INCOME TAX OFFICER WARD 521 BENGALURU\nTHE KSCA AND RD BANK LTD\n20\n(Twenty only)\nBEFORE THE HONOURABLE INCOME TAX APPELLATE TRIBUNAL\nBANGALORE BENCH\nThe Karnataka State Co-\noperative Agriculture

INCOME-TAX OFFICER, WARD-7(2)(1), BENGALURU, BENGALURU vs. M/S. BANGALORE CREDIT CO-OPERATIVE SOCIETY LIMITED, BENGALURU

In the result both the appeals of the Revenue as well as\nCos of the Assessee for the Asst

47 has held that provisions of section 80P(4) of the Act is to be\nread as a proviso to section 80P(2)(a)(i) of the Act which specifically\nallows deduction to Co-operative Societies engaged in the business\nof providing credit facilities to its members and not Co-operative\nBanks. The relevant portion of the judgment is reproduced

KARNATAKA BANK LTD,MANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, MANGALORE

Appeals of the revenue are partly allowed for statistical purposes

2)(v) of the Act.\n\n7.17 In view of the foregoing discussions, we are unable to agree with the view expressed by Ld CIT(A) on this issue. Accordingly, we set aside the order passed by Ld CIT(A) on this issue and direct the AO to allow the bad debts relating to non- rural branches

M/S. THE BHAVASARA KSHATRIYA CO-OPERATIVE SOCIETY LIMITED,MYSURU vs. INCOME TAX OFFICER, WARD-2(1), MYSURU

V) That section 80P(4) is in the nature of a proviso to the main provision\ncontained in section 80P(1) and (2). This proviso specifically excludes only\nco-operative banks, which are co-operative societies who must possess a\nlicense from the RBI to do banking business. Given the fact that the assessee\nin that case

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

2), the disallowance under section 14A should be restricted to Rs. 37,16,131 being 5% of salary cost of CFO, 50% of salary cost of employees handling treasury functions and 10% of salary cost of CFC as voluntarily disallowed by the appellant under section 14A. 5.2 The ld CIT(A) in his order stated that the argument

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

2), the disallowance under section 14A should be restricted to Rs. 37,16,131 being 5% of salary cost of CFO, 50% of salary cost of employees handling treasury functions and 10% of salary cost of CFC as voluntarily disallowed by the appellant under section 14A. 5.2 The ld CIT(A) in his order stated that the argument

SHRI. SHANTHISAGAR CO OP CREDIT SOCIETY LIMITED,HUBLI vs. INCOME TAX OFFICER, WARD-2(1), HUBLI

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2017-18

47,689/- is 1.4% of gross receipt of the assessee for the year under consideration. Therefore, only proportionate amount shall be disallowed from the assessee claim of deduction under section 80P(2)(a)(i) of the Act of the Act. Hence the AO held that only 1.4% of deduction claimed . ITA No.2081 /Bang/2025 Page 4 of 32 shall be disallowed