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

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

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

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

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, he claimed 100% deduction of profit and gains erred in respect 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

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

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

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

M/S. VIJAYA BANK,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX, LTU, BANGLORE

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

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

M/S GRAIN MERCHANT SOCIETY,TUMKUR vs. INCOME TAX OFFICER, WARD.2, TUMKUR

In the result, the assessee's appeal for Assessment Year 2008-09 is allowed

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

disallowance under section 40(a)(ia) of the Act, would qualify for deduction as provided under the law.” 3.4.3 In the case of V S Lad & Sons (supra), a co-ordinate bench at paras 27 to 29 thereof has held as under :- “ 27. Besides the above, we also find substance in the argument of the learned counsel for the Assessee

INSTAKART SERVICES PRIVATE LIMITED,BANGALORE vs. ACIT, SPECIAL RANGE-3, BANGALORE

In the result appeal of the Revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

disallowance of the entire business loss by the AO is arbitrary and without reference to any specific provisions of the Act. The loss incurred is wholly and exclusively related to business operations and is allowable under sections 28 to 43D

ASSISTANT COMMISSIONER OF INCOME TAX, VIJAYAPUR vs. M/S.DECCAN URBAN CO-OP. BANK LTD.,, VIJAYAPUR

In the result, appeal of the Revenue is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boazassessment Year : 2012-13 Asst. Commissioner Of Vs. M/S. The Deccan Urban Co-Op Income Tax, Bank Ltd., Circle-1, M. G. Road, Vijayapur. Vijayapur. Pan : Aaaat 8050 A Appellant Respondent Revenue By : Dr. P. V. Pradeep Kumar, Addl. Cit Assessee By : None Date Of Hearing : 20.02.2018 Date Of Pronouncement : 28.02.2018

section 43D amended w.e.f. 1.4.2000 overruled the Court decisions/ Circulars? 2. This appeal came up for hearing on 28.02.2018 but none appeared on behalf of the assessee. We however examined the order of the CIT(A) on the grounds of appeal raised before us and we find that the appeal can be disposed even in the absence of the assessee

ACIT,CIRCLE-1,, BIJAPUR vs. SREE VEERAPULAKESHI CO-OP. BANK LTD, BIJAPUR

In the result, the appeal by the Revenue is allowed for statistical

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2007-08

section 43D, income by way of interest in relation to such categories of bad and doubtful debts as are prescribed having regard to guidelines issued by RBI, can be brought to tax only when such income is credited in the P&L account or the year in which it is actually received by the assessee. According

SHRI. VEERPULAKESHI CO-OP BANK LTD.,,BADAMI vs. ACIT, BIJAPUR

In the result, the appeal by the Revenue is allowed for statistical

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2007-08

section 43D, income by way of interest in relation to such categories of bad and doubtful debts as are prescribed having regard to guidelines issued by RBI, can be brought to tax only when such income is credited in the P&L account or the year in which it is actually received by the assessee. According

SMT. LIZY GEORGE,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 7(1), BANGALORE

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

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2005-06

disallowance can be made for the expenditure for computation of business income. The pattern of assessment under the Act is given by section 29 which states that the income from profits and gains of business shall be computed in accordance with the provisions contained in sections 30 to 43D

ITO, BANGALORE vs. M/S CERNER HEALTHCARE SOLUTIONS PVT. LTD.,, BANGALORE

In the result, the appeal by the revenue is dismissed

Bench: Shri N.V.Vasudevan & Shri Inturi Rama Rao

43D of the Act. Accordingly, it is necessary that for the computation of the profits of the business of the undertaking, due effect is required to be given to the IT(TP)A No.675/Bang/2012 M/s.Cerner Healthcare Solutions Pvt.Ltd. Page 13 of 18 provisions of Section 40(a)(i) of the Act. 15. The learned counsel for the Assessee placed reliance