DCIT, BANGALORE vs. M/S CORE OBJECTS INDIA PVT. LTD.,, BANGALORE

In the result appeal filed by assessee stands allowed as indicated hereinabove and appeal filed by revenue stands allowed partly

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No.517/Bang/2015 Assessment Year : 2010-11

disallowance by the Ld. AO under section 10A regarding the voluntary income offered by assessee for computing the transfer pricing adjustment. 39. On one hand, it is the assessee’s contention that provisions of section 92(4) will not be applicable in this case as the transfer Page 24 of 55 IT(TP)A No.517 & 570/Bang/2015 pricing adjustment has been

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

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

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

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1), BENGALURU, BENGALURU vs. INFOSYS LIMITED, BENGALURU

In the result, appeal filed by the assessee is partly allowed and the appeal filed by the revenue is dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2019-20

disallowance of deduction under section 80G of the in respect of CSR donations. In the assessment order, the deduction claimed under section 80G of the Act to the extent of Rs. 70

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.

70,77,583/- to the closing stock\nby applying section 145A read with ICDS II making\ncorresponding adjustment to the opening stock.\n14. As regards ad-hoc disallowance

JUPITER CAPIAL P. LTD. vs. CIT, BANGALORE

In the result, ITA No. 60/Bang/2012 and 253/Bang/2014 of the assessee are partly allowed for statistical purposes and ITA

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoassessee’S Appeal

disallowance of expenditure of Rs.91,59,391/- made by the Assessing Officer under the provisions of section 8D(2)(iii) of the Rule but also enhancing the same to Rs 1,15,70

M/S JUPITER CAPITAL (P) LIMITED,BANGALORE vs. ACIT, BANGALORE

In the result, ITA No. 60/Bang/2012 and 253/Bang/2014 of the assessee are partly allowed for statistical purposes and ITA

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoassessee’S Appeal

disallowance of expenditure of Rs.91,59,391/- made by the Assessing Officer under the provisions of section 8D(2)(iii) of the Rule but also enhancing the same to Rs 1,15,70

ACIT, BANGALORE vs. M/S JUPITER CAPITAL (P) LTD.,, BANGALORE

In the result, ITA No. 60/Bang/2012 and 253/Bang/2014 of the assessee are partly allowed for statistical purposes and ITA

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoassessee’S Appeal

disallowance of expenditure of Rs.91,59,391/- made by the Assessing Officer under the provisions of section 8D(2)(iii) of the Rule but also enhancing the same to Rs 1,15,70

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 of deduction claimed under section 80 IB of the Act. 6.1 Following two issues arises from these grounds: Issue (a) Whether loss of one eligible undertaking is to be set off against the profits of another eligible undertaking? Issue (b) Whether the deduction claimed can be only against the business profits or can it be against the other heads

M/S. WINDSOR GARDENS PRIVATE LIMITED,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 7(1)(2), BANGALORE

In the result, the appeal filed by the assessee is allowed

Bench: Shri A.K. Garodia & Shri George George Km/S.Windsor Gardens Pvt. Ltd., No.81, 36Th Cross, 6Th Main, 5Th Block, Jayanagar, Bangalore-560 041 ….Appellant. Pan Aaacw 3001E Vs. Assistant Commissioner Of Income Tax, Circle 7(1)(2), Bangalore. ……Respondent. Assessee By: Smt.Suman Lunkar, C.A. Revenue By: Dr. A. Shankar Prasad K, Addl. Cit.

70,06,240. The assessee in the Return of Income had suo moto disallowed under Section 14A of the Act, an amount

M/S. GOLDMAN SACHS SERVICES PRIVATE LIMITED,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX, SPECIAL RANGE-3, BANGALORE

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

Bench: Shri A.K. Garodia & Shri Pavan Kumar Gadaleit(Tp)A No.2355/Bang/2019 (Assessment Year: 2015-16) M/S. Goldman Sachs Services Pvt. Ltd., Wing A, B & C, Helios Business Park, 150, Orr, Kadubeesanahalli, Bangalore-560103 ….Appellant Pan Aaccg 2435N Vs. Joint Commissioner Of Income Tax, Special Range 3, Bangalore. ……Respondent.

disallowances under Section 14A and 80G of the Act and prayed for allowing the assessee appeal. Contra, the learned Departmental Representative objected to the submissions and supported the order of TPO and DRP and relied on the judicial decisions. 7. We heard the rival submissions and perused the material on record. The LdAr made submissions for exclusion of 3 comparables

M/S KBD SUGARS & DISTILLERIES LTD,BANGALORE vs. ASST. COMMISSIONER OF INCOME-TAX, BANGALORE

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

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

70 persons free of interest either before the Assessing Officer or before the CIT (Appeals). 5. The CIT (Appeals) erred in restricting the disallowance of interest of Rs.2,24,76,468 to Rs.68,59,054 at 11% on account of capitalization of work-in- progress without appre4ciating that the assessee neither before the Assessing Officer nor before the CIT (Appeals

M/S ALTISOURCE BUSINESS SOLUTIONS PVT. LTD.,,BANGALORE vs. ACIT, BANGALORE

In the result appeal filed by assessee stands allowed partly as indicated hereinabove

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(Tp)A No.208/Bang/2016 Assessment Year : 2011-12

disallowances were upheld by the DRP. 11. On receipt of the DRP order the Ld.AO passed the final impugned order by computing total income of Rs.38,93,05,310/-. 12. Aggrieved by the order of Ld. AO, assessee as well as revenue are in appeal before us now. 13. In the appeal filed by revenue, only issue is in respect

JCIT, BANGALORE vs. M/S HEWLETT PACKARD INDIA SALES P. LTD.,, BANGALORE

In the result appeal of the ld AO is dismissed and Assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2010-11

disallowance under section 40(a)(i) and section 40(a)(ia) of the Act. ITA No.1245 & 1252/Bang/2015 Page 4 of 70

HEWLETT PAKCARD INDIA SALES PRIVATE LIMITED,BANGALORE vs. JCIT, BANGALORE

In the result appeal of the ld AO is dismissed and Assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2010-11

disallowance under section 40(a)(i) and section 40(a)(ia) of the Act. ITA No.1245 & 1252/Bang/2015 Page 4 of 70

TEXO THE BUILDERS ,UDUPI vs. ACIT, CENTRAL CIRCLE-2, MANGALORE

In the result, we dismiss grounds raised by the assessee

Bench: Shri.Laxmi Prasad Sahu & Shri.Soundararajan K

section 40A(3) of the Act. Therefore, same was disallowed. Regarding category 3 Payment made on Sundays and other bank holidays of Rs.6,70

M/S. SYNGENE INTERNATIONAL LIMITED,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX, SPECIAL RANGE- 6, BANGALORE

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

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2010-11

Disallowance under section 14A 6.1 During the year under consideration, the Assessee received dividends of Rs.64,35,473 from mutual funds. The fund- wise details of the dividend received including the purchase/redemption details are as under: SI Opening Closing Divi- No Balance Balance Fund /Scheme purchase Redemption dend%, 28Q ICICI Prudential -Flexible 1 Income Plan Dividend-Daily

DEPUTY COMMISSIONER OF INCOME TAX, MANGALURU vs. NEW MANGALORE PORT AUTHORITY, MANGALURU

In the result, the appeal of the Revenue on this for the Assessment Years

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

70,36,568/- 5. Aggrieved from the above Order, assessee filed appeal on 01.10.2022 against the above Order raising 7 grounds on 3 issues i.e., disallowance under section