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

M/S.LIFESTYLE INTERNATIONAL PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, BANGALORE

In the results appeal filed by assessee for assessment year

Bench: Shri Chandra Poojari & Smt Beena Pillai

section 37 of the I.T.Act, expenditure laid out and expended wholly and exclusively for the purpose of business or profession shall be allowed as deduction while computing the business income. To qualify as a business expenditure, the following the conditions are to be satisfied :- (i) expenditure must be revenue in nature; Page 14 of 37 IT(TP)A No. 2333/Bang/2016

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), BANGALORE vs. M/S LIFESTYLE INTERNATIONAL PVT LTD , BANGALORE

In the results appeal filed by assessee for assessment year

Bench: Shri Chandra Poojari & Smt Beena Pillai

section 37 of the I.T.Act, expenditure laid out and expended wholly and exclusively for the purpose of business or profession shall be allowed as deduction while computing the business income. To qualify as a business expenditure, the following the conditions are to be satisfied :- (i) expenditure must be revenue in nature; Page 14 of 37 IT(TP)A No. 2333/Bang/2016

ASSISTANT COMMISSIONER OF INCOME-TAX, BANGALORE vs. M/S. LIFESTYLE INTERNATIONAL (P) LTD.,, BANGALORE

In the results appeal filed by assessee for assessment year

Bench: Shri Chandra Poojari & Smt Beena Pillai

section 37 of the I.T.Act, expenditure laid out and expended wholly and exclusively for the purpose of business or profession shall be allowed as deduction while computing the business income. To qualify as a business expenditure, the following the conditions are to be satisfied :- (i) expenditure must be revenue in nature; Page 14 of 37 IT(TP)A No. 2333/Bang/2016

M/S.LIFESTYLE INTERNATIONAL PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, BANGALORE

In the results appeal filed by assessee for assessment year

Bench: Shri Chandra Poojari & Smt Beena Pillai

section 37 of the I.T.Act, expenditure laid out and expended wholly and exclusively for the purpose of business or profession shall be allowed as deduction while computing the business income. To qualify as a business expenditure, the following the conditions are to be satisfied :- (i) expenditure must be revenue in nature; Page 14 of 37 IT(TP)A No. 2333/Bang/2016

M/S LIFESTYLE INTERNATIONAL PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), BANGALORE

In the results appeal filed by assessee for assessment year

Bench: Shri Chandra Poojari & Smt Beena Pillai

section 37 of the I.T.Act, expenditure laid out and expended wholly and exclusively for the purpose of business or profession shall be allowed as deduction while computing the business income. To qualify as a business expenditure, the following the conditions are to be satisfied :- (i) expenditure must be revenue in nature; Page 14 of 37 IT(TP)A No. 2333/Bang/2016

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

In the result, both the appeals of the assessee in IT(TP)A No

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 271(1)(c) of the Act for furnishing inaccurate particulars of income. IT(TP)A No.3336/Bang/2018 & IT(TP)A No.199/Bang/2021 M/s. Praxier India Pvt. Ltd., Bengaluru Page 14 of 62 4. Ground Nos.1 to 4 in the AY 2014-15 and ground Nos.1 & 2 in the AY 2015-16 are general in nature, which do not require any adjudication

M/S PRAXAIR INDIA PRIVATE LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-2 , BANGALORE

In the result, both the appeals of the assessee in IT(TP)A No

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 271(1)(c) of the Act for furnishing inaccurate particulars of income. IT(TP)A No.3336/Bang/2018 & IT(TP)A No.199/Bang/2021 M/s. Praxier India Pvt. Ltd., Bengaluru Page 14 of 62 4. Ground Nos.1 to 4 in the AY 2014-15 and ground Nos.1 & 2 in the AY 2015-16 are general in nature, which do not require any adjudication

M/S BOSCH LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX LTU CIRCLE-1 , BANGALORE

In the result, appeal of the assessee is partly allowed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy Sassessment Year : 2013-14 Bosch Limited, Vs. The Assistant Commissioner Hosur Road, Adugodi, Of Income Tax, Ltu, Bangalore – 560 030. Circle 1, Pan: Aaacm 9840P Bangalore. Appellant Respondent Appellant By : Shri Percy Pardiwala, Advocate Respondent By : Shri V S Chakrapani, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 01.09.2022 Date Of Pronouncement : 13.09.2022 O R D E R Per Padmavathy S.2. This Appeal Is Against The Order Of The Cit(Appeals), Bangalore-9, Bangalore Dated 31.3.2018 For The Assessment Year 2013- 14. 3. The Assessee Raised Grounds Pertaining To The Following Issues:- Deduction U/S. 35(2Ab) Computed On Net Expenditure As Opposed To Gross Expenditure Disallowance Of Provision For Bad & Doubtful Debts I) Disallowance Of Provision For Long Term Service Award Disallowance Of Expenditure U/S. 14A Of The Act Ii) Page 2 Of 67

sections 115, 44AC, etc. (iii) The reliance on the decision of Hon'ble Apex Court in the case of Woodward Governor India (P.) Ltd. ( supra) is misplaced since that case concerns allowance of losses on re-statement of existing currency assets and liabilities. In the case on hand, it relates only to future sales transactions without certainty of valuation

M/S KHODAY INDIA LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the appeals of the assessee are partly allowed and the appeals of revenue are dismissed

Bench: Shri Vijay Pal Rao & Shri Jason P Boaz

Section 14A on account of interest expenditure does not arise. Further when the investment is made in the firm and it is a one time decision then the disallowance on account of indirect expenditure is not warranted as the assessee has not incurred any expenditure in this respect. In support of his contention, he has relied upon the decision

M/S KARNATAKA STATE BEVERAGES CORPORATION LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), BANGALORE

In the result, the appeal of the assessee is dismissed

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year : 2012-13

disallowance under section 14A cannot be made: (a) CIT v. Winsome Textile Industries Ltd. reported in 319 ITR 204 (Punj. &Har.) (b) CIT v. Suzlon Energy Ltd. reported in 354 ITR 630 (Guj) (c) DIT(IT) v.BNP Paribas SA reported in 214 Taxman 548 (Born); (d) Yatish Trading Co. (P.) Ltd. v. Asstt. CIT reported in 129 ITD 237

M/S HINDUSTAN AERONAUTICS LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3(1)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

section 14A in excess of the amount of exempt income. 3. (a) That on the facts and in the circumstances of the case, the learned CIT(A) erred in upholding the disallowance of expenditure incurred by the Appellant on Research & Development amounting to INR 6,048,237

M/S HINDUSTAN AERONAUTICS LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3(1)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

section 14A in excess of the amount of exempt income. 3. (a) That on the facts and in the circumstances of the case, the learned CIT(A) erred in upholding the disallowance of expenditure incurred by the Appellant on Research & Development amounting to INR 6,048,237

M/S HINDUSTAN AERONAUTICS LTD ,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX CIRCLE-3(1)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

section 14A in excess of the amount of exempt income. 3. (a) That on the facts and in the circumstances of the case, the learned CIT(A) erred in upholding the disallowance of expenditure incurred by the Appellant on Research & Development amounting to INR 6,048,237

M/S HINDUSTAN AERONAUTICS LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3(1)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

section 14A in excess of the amount of exempt income. 3. (a) That on the facts and in the circumstances of the case, the learned CIT(A) erred in upholding the disallowance of expenditure incurred by the Appellant on Research & Development amounting to INR 6,048,237

M/S HINDUSTAN AERONAUTICS LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3(1)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

section 14A in excess of the amount of exempt income. 3. (a) That on the facts and in the circumstances of the case, the learned CIT(A) erred in upholding the disallowance of expenditure incurred by the Appellant on Research & Development amounting to INR 6,048,237

M/S HINDUSTAN AERONAUTICS LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3(1)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

section 14A in excess of the amount of exempt income. 3. (a) That on the facts and in the circumstances of the case, the learned CIT(A) erred in upholding the disallowance of expenditure incurred by the Appellant on Research & Development amounting to INR 6,048,237

M/S HINDUSTAN AERONAUTICS LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3(1)(2), BANGALORE , BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

section 14A in excess of the amount of exempt income. 3. (a) That on the facts and in the circumstances of the case, the learned CIT(A) erred in upholding the disallowance of expenditure incurred by the Appellant on Research & Development amounting to INR 6,048,237

ASSISTANT COMMISSIONER OF INCOME TAX, C-1(1)(1), BANGALORE vs. BANGALORE INTERNATIONAL AIRPORT LIMITED, BANGALORE

237 ITR 53 and Pandian Chemical reported in 262 ITR 278 to buttress\nhis view that only the income which has direct nexus with eligible business activity of\nthe industrial undertaking will be eligible for deduction under Section 80IA of the Act.\nThe AO, in view of the above, held that other income such as income from bank\ninterest, government