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

43D. Sections 30 to 36 confer specific deductions. Section 37 deals with expenditure which is general in nature and not covered within sections 30 to 36. The allowability of brand building expense would have to be examined under section 37 - the residuary section. To examine eligibility of brand building expenses under section 37, the character of expenditure needs

M/S. TATA ELXSI LTD,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, CIRCLE-7(1)(1), , BENGALURU

Sections 30 to 43D of the Act.\n106. Thus, it has been urged by the assessee by way of the additional ground that the ld.\nCIT(A), Mumbai erred in allowing the deduction in respect of export profits of SEZ units\nu/s.10AA of the Act, he claimed 100% deduction of profit and gains erred in\nrespect of export turn over

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

disallowed by it “shall be allowed... only in computing\nthe income referred to in section 28”. It is thus clear that the\nprovision only applies to computation of income under the heard,\n"income form business and Profession”. He submitted that this is\nmade even clearer by section 29 which reads: “The income\nreferred to in section 28 shall

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

disallowed by it “shall be allowed... only in computing\nthe income referred to in section 28”. It is thus clear that the\nprovision only applies to computation of income under the heard,\n"income form business and Profession”. He submitted that this is\nmade even clearer by section 29 which reads: “The income\nreferred to in section 28 shall

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

disallowed by it “shall be allowed... only in computing\nthe income referred to in section 28”. It is thus clear that the\nprovision only applies to computation of income under the heard,\n"income form business and Profession”. He submitted that this is\nmade even clearer by section 29 which reads: “The income\nreferred to in section 28 shall

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

disallowed by it “shall be allowed... only in computing\nthe income referred to in section 28”. It is thus clear that the\nprovision only applies to computation of income under the heard,\n"income form business and Profession”. He submitted that this is\nmade even clearer by section 29 which reads: “The income\nreferred to in section 28 shall

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

disallowed by it “shall be allowed... only in computing\nthe income referred to in section 28”. It is thus clear that the\nprovision only applies to computation of income under the heard,\n"income form business and Profession”. He submitted that this is\nmade even clearer by section 29 which reads: “The income\nreferred to in section 28 shall

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

disallowed by it “shall be allowed... only in computing\nthe income referred to in section 28”. It is thus clear that the\nprovision only applies to computation of income under the heard,\n"income form business and Profession”. He submitted that this is\nmade even clearer by section 29 which reads: “The income\nreferred to in section 28 shall

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

disallowed by it “shall be allowed... only in computing\nthe income referred to in section 28”. It is thus clear that the\nprovision only applies to computation of income under the heard,\n"income form business and Profession”. He submitted that this is\nmade even clearer by section 29 which reads: “The income\nreferred to in section 28 shall

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

disallowed by it “shall be allowed... only in computing\nthe income referred to in section 28”. It is thus clear that the\nprovision only applies to computation of income under the heard,\n"income form business and Profession”. He submitted that this is\nmade even clearer by section 29 which reads: “The income\nreferred to in section 28 shall

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

disallowed by it “shall be allowed... only in computing\nthe income referred to in section 28”. It is thus clear that the\nprovision only applies to computation of income under the heard,\n"income form business and Profession”. He submitted that this is\nmade even clearer by section 29 which reads: “The income\nreferred to in section 28 shall

ACIT, BIJAPUR vs. BILAGI PATTAN SAHAKARI BANK NIYAMIT, BILAGI

In the result, Revenue’s appeal for Assessment Year 2010-11 is dismissed

Bench: Shri Rajpal Yadav & Shri Jason P. Boaz

disallowances / additions listed at S.Nos.(iii), (iv), (v) and (vi) at para 2.1 of this order. 3. Aggrieved by the order of the CIT (Appeals), Belgaum for Assessment Year 2010-11 dt.16.9.2013, the Revenue has preferred this appeal, raising the following grounds :- “1. The CIT (Appeals) erred in law and on facts, in deleting the addition of Rs.1

ACIT, BIJAPUR vs. THE BAGALKOT DISTRICT CENTRAL CO-OP BANK LTD.,, BAGALKOT

In the result, Revenue’s appeal for Assessment Year 2009-10 is dismissed

Bench: Shri Rajpal Yadav & Shri Jason P. Boaz

disallowance made by the Assessing Officer under Section 40(a)(ia) of the Act amounting to Rs.1,29,19,176. 3. Aggrieved by the order of the CIT (Appeals), Belgaum for Assessment Year 2009-10 dt.16.9.2013, the Revenue has preferred this appeal, raising the following grounds :- “1. The CIT (Appeals) erred in law and on facts, in deleting the addition

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 1(1), MANGALURU, MANGALURU vs. KARNATAKA BANK LTD., MANGALURU

In the result, the appeal of the revenue for AYs 2016-17 and\n2017-18 are partly allowed for statistical purposes

Section 43D"], "issues": "Disallowance under Section 14A; deduction for bad debts and provision for bad and doubtful debts; addition to book

ACIT, BIJAPUR vs. THE SINDAGI URBAN CO-OP BANK LTD.,, SINDAGI

In the result, appeal of the Revenue is dismissed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

section have been defined and in the absence of any contrary material, it is hereby held that the assessee is covered by one of the entities, hence the provisions of s. 43D are to be applied. Next issue is that whether a circular having effect of relaxing rigour of law can be treated as inconsistent with the provisions

M/S. TATA ELXSI LIMITED., ,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Shri George George K. & Shri Chandra Poojari

Sections 30 to 43D of the Act." 106. Thus, it has been urged by the assessee by way of the additional ground that the ld. CIT(A), Mumbai erred in allowing the deduction in respect of export profits of SEZ units u/s.10AA of the Act with reference to the income computed under the head ‘profits and Page

M/S. TATA ELXSI LIMITED,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, CIRCLE-7(1)(1), BANGALORE

Sections 30 to 43D of the Act.\n106. Thus, it has been urged by the assessee by way of the additional ground that the ld.\nCIT(A), Mumbai erred in allowing the deduction in respect of export profits of SEZ units\nu/s.10AA of the Act, he claimed 100% deduction of profit and gains erred in\nrespect of export turn over

TATA ELXSI LIMITED ,BANGALORE vs. DEPUTY COMMISIONER INCOMER TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Shri Narender Kumar Choudhry & Shri Laxmi Prasad Sahuassessment Year : 2018-19 M/S. Tata Elxsi Ltd., The Deputy 126, Itpb Road, Commissioner Hoody, Of Income Tax, Whitefield, Circle – 7(1)(1), Bangalore – 560 048. Bangalore. Vs. Pan: Aaact7872Q Appellant Respondent

Sections 30 to 43D of the Act." 106. Thus, it has been urged by the assessee by way of the additional ground that the ld. CIT(A), Mumbai erred in allowing the deduction in respect of export profits of SEZ units u/s.10AA of the Act with reference to the income computed under the head ‘profits and gains of business

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

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale

disallowed by Explanation to section 36(1)(vii), if claimed, has got to be added back to total income of assessee, because Act seeks to tax 'real income' which is income computed according to ordinary commercial principles but subject to provisions of Act - Held, yes Section 36(1)(vii), read with section 43D