ADDL/JOINT COMMISSIONER OF INCOME TAX (LTU) , BANGALORE vs. M/S VIJAYA BANK , BANGALORE

Accordingly the grounds raised by the revenue is allowed for statistical purposes

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Bank Of Baroda Vs. Addl. Cit, Ltu, (Erstwhile Vijaya Bank) Bmtc Building 7Th Floor, Central Accounts 6Th Block, Koramangala Bengaluru 560095 Dept., 41/2, M.G. Road Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Acit, Circle - 2(1)(1) Vs. M/S. Bank Of Baroda Room No. 561, 5Th Floor (Erstwhile Vijaya Bank) Aayakar Bhavan 7Th Floor, Central Accounts M.K. Road Dept., 41/2, M.G. Road Mumbai 400020 Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Assessee By: Shri Ananthan, Ca& Smt. Lalitha Rameswaran, Ca Revenue By: Shri G. Manoj Kumar, Cit-Dr Date Of Hearing: 29.03.2023 Date Of Pronouncement: 25.04.2023 M/S. Bank Of Baroda

41 deduction for an amount of 79,39,000 whereas deduction to the extent of 14,21,432 has been allowed to assessee, hence, assessee remains eligible to claim deduction u/s 36(1)(viii) to the extent of 65,17,568. On a perusal of section 36(1)(viii) of the Act. it is clear that deduction not exceeding twenty

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 2(1), MANGALORE vs. KARNATAKA BANK LIMITED., MANGALORE

In the result, the appeal of the assessee is partly allowed for statistical purposes and the revenue’s appeal is dismissed

Bench: Shri Laxmi Prasad Sahu & Shri Soundararajan K., Judciial Member Assessment Year : 2015-16

disallowing the claim of Rs. 218,08,80,715/- of the appellant bank u/s 36(1)(vii) being the bad debts written off by the non-rural branches of the Appellant bank. 2.1. The learned CIT(A) failed to appreciate the fact that the non- rural debts are not controlled by the proviso to Section 36(1

M/S. KARNATAKA BANK LIMITED,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX. CIRCLE- 2(1), MANGALURU

In the result, the appeal of the assessee is partly allowed for statistical purposes and the revenue’s appeal is dismissed

Bench: Shri Laxmi Prasad Sahu & Shri Soundararajan K., Judciial Member Assessment Year : 2015-16

disallowing the claim of Rs. 218,08,80,715/- of the appellant bank u/s 36(1)(vii) being the bad debts written off by the non-rural branches of the Appellant bank. 2.1. The learned CIT(A) failed to appreciate the fact that the non- rural debts are not controlled by the proviso to Section 36(1

EDGEVERVE SYSTEMS LIMITED,BANGALORE vs. ACIT, CIRCLE-2(2)(1), BANGALORE

41, to\nsubmit that if there is any conflict between the Act and the Rules, the\nAct must prevail.\n53.4 The learned AR further submitted that the mandate to quantify\nexpenditure was introduced only by amendment to the Rules with effect\nfrom 01.07.2016, without any corresponding amendment to section\n35(2AB) of the Act. Therefore, DSIR's role of quantification

SRI. CHANDRAKANT SHAMAPPA KONTHA,HUBLI vs. DCIT, CIRCLE-1(1) & TPS, HUBLI

In the result both the appeals are allowed for statistical purposes

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

disallowance was made. 21. In the rejoinder the learned authorized representative reiterated the submissions already made and submitted that it is not the issue of the decision of the honourable Supreme Court but it is the issue whether adjustment under section 143 (1) (a) of the act can be made with respect to the employees' contribution of provident fund

SRI. CHANDRAKANT SHAMAPPA KONTHA,HUBLI vs. DCIT, CIRCLE-1 & TPS, HUBLI

In the result both the appeals are allowed for statistical purposes

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

disallowance was made. 21. In the rejoinder the learned authorized representative reiterated the submissions already made and submitted that it is not the issue of the decision of the honourable Supreme Court but it is the issue whether adjustment under section 143 (1) (a) of the act can be made with respect to the employees' contribution of provident fund

EDGEVERVE SYSTEMS LIMITED ,BANGALORE vs. ACIT, CIRCLE-2(2)(1), BANGALORE

In the result, both the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Soundararajan K

disallowance under section 40(a)(ii) of the Act. The assessee has relied on judicial precedents to support its claim; however, the application of such precedents would depend upon the factual verification of the assessee’s case. Hence, in the interest of justice, we deem it appropriate to restore this issue to the file

EDGEVERVE SYSTEMS LIMITED ,BANGALORE vs. ACIT, CIRCLE-2(2)(1), BANGALORE

In the result, both the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Soundararajan K

disallowance under section 40(a)(ii) of the Act. The assessee has relied on judicial precedents to support its claim; however, the application of such precedents would depend upon the factual verification of the assessee’s case. Hence, in the interest of justice, we deem it appropriate to restore this issue to the file

EDGEVERVE SYSTEMS LIMITED ,BANGALORE vs. ACIT, CIRCLE-2(2)(1), BANGALORE

In the result, both the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Soundararajan K

disallowance under section 40(a)(ii) of the Act. The assessee has relied on judicial precedents to support its claim; however, the application of such precedents would depend upon the factual verification of the assessee’s case. Hence, in the interest of justice, we deem it appropriate to restore this issue to the file

TOYOTA BOSHOKU AUTOMOTIVE INDIA PRIVATE LIMITED,BIDADI vs. ASSESSMENT UNIT, INCOME TAX DEPARTMENT OR THE DCIT, CIRCLE - 7(1)(1), KORAMANGALA

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

41,774, there were Trade Payables of Rs. 1,19,78,936, and it is a settled principle that Trade Payables should be netted off from Trade Receivables before computing the interest on delayed receivables. Additionally, the AR emphasized that the credit period of 30 days had been taken into account without conducting any analysis. In support of these arguments

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BENGALURU, BENGALURU vs. CANARA BANK, BENGALURU

In the result, appeal of the revenue in ITA No

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessmentyear: 2017-18

41 every corresponding new bank shall be deemed to be an „Indian company‟ and the company in which the public are „substantially interested' and since in Section 2(17) of the Income Tax Act, the „company‟ has been defined as any Indian company therefore, the provisions of the Income Tax Act would apply because Section

M/S. BRIGADE ENTERPRISES LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

In the result appeal filed by assessee stands partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2013-14 M/S. Brigade Enterprises Ltd., 26/1, 30Th Floor Wtc, The Dy. Commissioner Of Dr. Rajkumar Road, Income-Tax, Malleshwaram, Circle-2(3), Rajajinagar, Bengaluru. Vs. Bengaluru-560 100. Pan – Aaacb 7459 F Appellant Respondent Assessee By : Shri P.C Kincha, C.A Revenue By : Ms. Neera Malhotra, Cit(Dr) Date Of Hearing : 20-07-2021 Date Of Pronouncement : 11-10-2021 Order Per Beena Pillaipresent Appeal Has Been Filed By Assessee Against Order Dated 30/08/2019 Passed By The Ld.Cit(A)-11, Bangalore For Assessment Year 2013-14 On Following Grounds Of Appeal: “1. General Ground 1.1. The Order Passed By The Learned Commissioner Of Income Tax (Appeals) ["Cit(A) For Short Hereinafter"] To The Extent Prejudicial To The Appellant Is Bad In Law & Liable To Be Quashed. 2. Disallowance Under Section 14A R.W. Rule 8D 2.1. The Learned Deputy Commissioner Of Income Tax Central Circle - 2(3), Bangalore ["Ao" For Short Hereinafter] Has Erred In Making A Disallowance Of Rs. 2,02,22,837/- Under Se Tion 14A Comprising Of Disallowa,,Ø-1S. 1,73,98,969/- Under Rule 8D(2)(Ii) & Rs. 28,23,868/- Under Rule 8D(2)(Iii) & The Learned Cit(A) Has Erred In Confirming The Said Disallowance.

Disallowance under section 14A amounting to Rs. 2,02,22,837/- be deleted. ii) Interest expenditure amounting to Rs. 5,32,41,623/- be allowed. iii) Expenditure claimed towards initial public offer amounting to Rs. 13,20,000/- be allowed. iv) Deduction under section 80-lB amounting to Rs. 1

M/S. BANGALORE ELECTRICITY SUPPLY COMPANY LTD.,,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2), BANGALORE

In the result, the appeal by the assessee is partly allowed and appeal of the ld

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2017-18

disallowance. Accordingly ground number 1 of the appeal is dismissed. 15. Ground number 2 of the appeal is with respect to deleting the addition of 5% of sundry creditors payable towards purchase suppliers and work and for expenses as a cessation of liability under section 41

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE- 1(1)(1), BANGALORE, BMTC BUILDING, KORAMANGALA, BAQNGALORE vs. BANGALORE ELECTRICITY SUPPLY COMPANY LIMITED , BESCOM CORPORATE OFFICE

In the result, the appeal by the assessee is partly allowed and appeal of the ld

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2017-18

disallowance. Accordingly ground number 1 of the appeal is dismissed. 15. Ground number 2 of the appeal is with respect to deleting the addition of 5% of sundry creditors payable towards purchase suppliers and work and for expenses as a cessation of liability under section 41

M/S HOTHUR TRADERS ,BELLARY vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

In the result, the appeal by the assessee is dismissed

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2011-12 M/S. Hothur Traders, Vs. The Assistant Commissioner Plot Nos. 5, 6, 7 & 8, Of Income Tax, “Hothur House”, Infantry Road, Circle 1, Cantonment, Fort Road, Bellary – 583 104. Bellary – 583 102. Pan: Aaefh 7705H Appellant Respondent

section 41(1), the assessee is entitled to deduction u/s 10B on the enhanced profit. For this purpose, reliance was placed on the following judgments:- (i) Yahoo Software Development (P.) Ltd. v. DCIT, (2020) 116 taxmann.com 403 (Bang. Trib) (ii) Anthelio Business Technologies (P.) Ltd. v. ITO, 78 taxmann.com 203 (Mum Trib.) 18. We have carefully gone through the above

EDGEVERVE SYSTEMS LIMITED,BANGALORE vs. ACIT, CIRCLE-2(2)(1), BANGALORE

41, to\nsubmit that if there is any conflict between the Act and the Rules, the\nAct must prevail.\n53.4 The learned AR further submitted that the mandate to quantify\nexpenditure was introduced only by amendment to the Rules with effect\nfrom 01.07.2016, without any corresponding amendment to section\n35(2AB) of the Act. Therefore, DSIR's role of quantification

VIJAYA BANK ,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX LARGE TAX PAYER UNIT , BANGALORE

In the result, Revenue’s appeal for Assessment Year 2012-13 is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boaz

Section 36(1)(viia). 31.1 In this ground (supra), the assessee challenges the learned CIT (Appeals) order in upholding the disallowance u/s.36(1)(viia) of the Act amounting to Rs.245,67,41

M/S. SYNDICATE BANK,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1,, UDUPI

In the result, grounds 6 and 9 are allowed for statistical purposes

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

41,91,131 3. The Assessing Officer also assessed tax payable u/s 115JB of the I.T.Act at Rs.757,13,40,716 after making several additions to the book profits. 4. Aggrieved by the assessment order, the assessee preferred an appeal before the first appellate authority. The CIT(A) allowed the appeal of the assessee in respect of following issues

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

Accordingly, the appeals filed by the assessee are allowed in above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

section 37(1) of the Act under the facts and circumstances of the case. ITA Nos.234 to 237/Bang/2020 Page 6 of 41 c) Without prejudice, the authorities below erred in disallowing