M/S. ORIGAMI CELLULO PRIVATE LIMITED,BENGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX - 5, BENGALURU

In the result, the appeal of the assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2015-16

disallowable u/s 40A, to the persons specified in Section 40A(2)(b) of the Act. In other words in the ITR the assessee

SRI. SHAMBULAL G CHHABRA vs. ADDL.C.I.T.,

In the result, the assessee’s appeal for Assessment Year 2009-10 is allowed

Bench: Shri Jason P Boaz & Shri Pavan Kumar Gadaleassessment Year : 2009-10 Shri. Shambulal G. Chhabria, Vs. Additional Commissioner Of No.G-5, Ramanashree Chambers, Income Tax, Lady Curzon Road, Range - 8, Malleswaram, Bangalore-560 001. Bangalore. Pan : Abhps 4411 M Appellant Respondent Assessee By : Shri. V. Chandrasekhar, Advocate Revenue By : Shri. C. H. Sundar Rao, Cit Date Of Hearing : 26.03.2019 Date Of Pronouncement : 24.05.2019

section 40A(2)(b) of the Act held not disallowable]. (2) Asstt. CIT v. Alfa Rubber Inds. [2008] 172 Taxman

M/S STERLING URBAN DEVELOPMENT PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-6(1)(2), BANGALORE

In the result, the grounds of appeal are decided as follows: Ground

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(Tp)A No.3282/Bang/2018 Assessment Year : 2014-15 M/S. Sterling Urban Development Pvt. Ltd., Vs. The Deputy Commissioner Of Income Tax, No.8, Level-5, Prestige Nebula, Circle -6(1)(2), Cubbon Road, Bengaluru. Opp. To Income Tax Office Building, Bengaluru – 560 001. Pan : Aaacf 9183 C Appellant Respondent Appellant By : Shri. Ramasubramaniyan, Ca Respondent By : Shri. Muzaffar Hussain, Cit(Dr)(Itat), Bengaluru Date Of Hearing : 12.10.2021 Date Of Pronouncement : 22.11.2021 O R D E R Per Chandra Poojari: This Is An Appeal By The Assessee Against The Final Order Of Assessment Dated 12.10.2018 Passed By The Dcit, Circle-6(1)(2), Bengaluru, Passed U/S. 144C R.W.S. 143(3) Of The Income-Tax Act, 1961 [The Act] Relating To Assessment Year 2014-15. 2. The Assessee Is A Company Incorporated Under The Companies Act, 1956 On 12Th June 2002 Under The Name & Style “Foundation Habitats (India) Private Limited”. The Company Has Been Converted As A Spv In The Year 2006. The Assessee Is Engaged In The Activities Relating To Real Estate

disallowance, on account of any expenditure being excessive or unreasonable having regard to the fair market value, shall be made in respect of a specified domestic transaction referred to in section 92BA, if such transaction is at arm’s length price as defined in clause (ii) of section 92F. (b) The persons referred to in clause (a) are the following

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

B of the IT Act means the contribution of the employer and the employee. That being so, if the contribution is made on or before the due date for furnishing the return of income under sub-section(1) of Section 139 of the IT Act is made, the employer is entitled for deduction”. 14.3 The law stood during the relevant

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

B of the IT Act means the contribution of the employer and the employee. That being so, if the contribution is made on or before the due date for furnishing the return of income under sub-section(1) of Section 139 of the IT Act is made, the employer is entitled for deduction”. 14.3 The law stood during the relevant

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

B of the IT Act means the contribution of the employer and the employee. That being so, if the contribution is made on or before the due date for furnishing the return of income under sub-section(1) of Section 139 of the IT Act is made, the employer is entitled for deduction”. 14.3 The law stood during the relevant

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

B of the IT Act means the contribution of the employer and the employee. That being so, if the contribution is made on or before the due date for furnishing the return of income under sub-section(1) of Section 139 of the IT Act is made, the employer is entitled for deduction”. 14.3 The law stood during the relevant

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

B of the IT Act means the contribution of the employer and the employee. That being so, if the contribution is made on or before the due date for furnishing the return of income under sub-section(1) of Section 139 of the IT Act is made, the employer is entitled for deduction”. 14.3 The law stood during the relevant

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

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

40A(2) in respect of interest free advances given to the related parties. The CIT (Appeals) deleted the said disallowance made by the Assessing Officer on the ground that the said advances made by the assessee from its own funds and not from the interest bearing fund. As regards the disallowance made by the Assessing Officer under Section

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)

40A(3) and insufficiency of\nvouchers – Rs.17,92,25,000/-\nd) Addition made based on the declaration given by the Director – Rs.20\nLakhs\ne) Labelling Expenses – Rs.23,60,587/-\nf) Addition based on the seizure of cash – Rs.63 Lakhs\ng) Disallowance u/s.14A – Rs.70,79,282/-\n7.\nThe AO made the additions based on the results of the search and\nalso

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

B' BENCH : BANGALORE\nBEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER\nAND\nSHRI SOUNDARARAJAN K., JUDICIAL MEMBER\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,\nMangalur - 575 002.\nPAN: AAACB9001B\nAPPELLANT\nAssessee by\nRevenue by\nThe Assistant\nCommissioner of\nIncome Tax,\nCircle - 2

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.

B' BENCH : BANGALORE\nBEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER\nAND\nSHRI SOUNDARARAJAN K., JUDICIAL MEMBER\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

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

B' BENCH : BANGALORE\nBEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER\nAND\nSHRI SOUNDARARAJAN K., JUDICIAL MEMBER\n\nITA Nos.642 to 645/Bang/2024\n Assessment Years : 2017-18 to\n2020-21\n\nM/s. Bharat Beedi Works\nPrivate Limited,\nGolden Jubilee Building,\nBharath Bagh,\nKadri Road,\nMangaluru – 575 002.\nPAN: AAACB9001B\nAPPELLANT\n\nVs.\n\nThe Assistant\nCommissioner of\nIncome Tax,\nCircle - 2

M/S BANGALORE BEVERAGES PVT LIMITED ,BANGALORE vs. THE INCOME TAX OFFICER ARD-1(1)(1), BANGALORE

In the result, the appeal filed by the assessee in ITA

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2013-14

disallowance u/s 40A(2)(b) of the Act. Section 40A(2)(b) can be invoked only to disallow interest claimed

BANGALORE BEVERAGES LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX (OSD) WARD-1(1)(3), BANGALORE

In the result, the appeal filed by the assessee in ITA

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2013-14

disallowance u/s 40A(2)(b) of the Act. Section 40A(2)(b) can be invoked only to disallow interest claimed

M/S BHUWALKA STEEL INDUSTRIES LIMITED ,BANGALORE vs. INCOME TAX OFFICER WARD-1(1)(4), BANGALORE

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

Bench: Shri George George K & Shri Laxmi Prasad Sahu

disallowance of expenses etc. as required under provisions of sections 40A, 80-IA, 10AA, 80A, sections where reference is made to section 80-IA, or to transactions as may be prescribed by the Board, if aggregate amount of all such domestic transactions exceeds Rupees 5 crore in a year. It is further proposed to amend the meaning of related persons

M/S. BHUWALKA STEEL INDUSTRIES LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(2), BANGALORE

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

Bench: Shri George George K & Shri Laxmi Prasad Sahu

disallowance of expenses etc. as required under provisions of sections 40A, 80-IA, 10AA, 80A, sections where reference is made to section 80-IA, or to transactions as may be prescribed by the Board, if aggregate amount of all such domestic transactions exceeds Rupees 5 crore in a year. It is further proposed to amend the meaning of related persons

M/S. CENTURY SILICON CITY,BANGALORE vs. DCIT, CIRCLE-1(2)(1, BANGALORE

In the result, the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Shri Anikesh Banerjee

40A and 438 deal with Business Disallowances. Keeping in mind the said scheme the position is that Sections 30 to 38 are deductions which are limited by Section 40. Therefore, even if an assessee is entitled to deduction under Section 36(1)(iii), the assessee(firm) will not be entitled to claim deduction for interest payment exceeding 18/12