DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(3), BANGALORE vs. M/S BIOWORTH INDIA PRIVATE LIMITED , KOLKATA

In the result, the appeal filed by the revenue is dismissed

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2010-11

Disallowance of capital loss (A) Loss incurred on sale of shares of Kemwell Infrastructure Pvt Ltd 5- The Ld. DR has set

DCIT, CC-1(4), BENGALURU, BENGALURU vs. INSTAKART SERVICES PVT LTD, BENGALURU

In the result, the stay application dismissed as infructuous

disallowance of the entire business\nloss by the AO and sustained by the Id. CIT(A) is arbitrary, based on\nconjecture, and contrary to law. The assessee's claim of business loss\ndeserves to be allowed in full. Therefore, we hereby set

M/S. VANTAGE AGORA MARKETING PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 12(5), BANGALORE

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

Bench: Shri. B.R. Baskaran & Smt. Beena Pillaiassessment Year : 2009-10 M/S. Vantage Agora Marketing Pvt. Ltd., # Pixel Park-A, 4Th Floor, The Deputy Pes Institute Of Commissioner Of Technology, Income Tax, Vs. Hosur Road, Electronic Circle – 12(5), City, Bangalore. Bangalore – 560 100. Pan: Aaccv1443P Appellant Respondent : Shri V. Chandrashekar, Assessee By Advocate : Smt. Priyadarshini Revenue By Basaganni, Jcit (Dr) Date Of Hearing : 30-12-2021 Date Of Pronouncement : 07-03-2022 Order Per Beena Pillaipresent Appeal Has Been Filed By Assessee Against Order Dated 30/03/2016 Passed By The Ld.Cit(A), Mysore For Assessment Year 2009-10 On Following Grounds Of Appeal: “1. The Order Of The Hon'Ble Commissioner Of Income Tax (Appeals), Mysuru, Insofar As It Is Against The Appellant, Is Opposed To Law, Weight Of Evidence, Natural Justice, Probabilities, Facts & Circumstances Of The Appellant'S Case.

losses amounting to ₹ 10,26,150/- and set off of laws against the taxable income after claiming exemption under section 10A of the Act. 3. The Ld.AO did not agree with the kind of computation and held that the laws carried forward to be set off against the profits before claiming exemption under section 10A. The Ld.AO made adjustment

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

disallowed by the Ld.AO against the sublease income. The Ld.Counsel submitted that the contentions of assessee were accepted by the DRP and directed the Ld.AO to delete the addition. However the Ld.AO allowed the expenditure in computing the income under other sources thereby loss of Rs.3 crores was not set

DIVYA DINESH ,BENGALURU vs. DCIT, CIRCLE-7(1)(1), BANGALORE

In the result appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

loss against the capital gains in accordance with law. After such set off, tax was computed and deductions under Chapter VI-A were claimed correctly. 6.3 However, while processing the return, the CPC disallowed

ASST.C.I.T., BANGALORE vs. M/S WIPRO LTD.,, BANGALORE

Bench: Shri B.R. Baskaran, Accountantmember & Shri Pavan Kumar Gadaleit(Tp)A No.99/Bang/2014 Assessmentyear:2009-10

setting off of LOSS OF STPI/SEZ UNITS against business income from non-STPI/non-SEZ units:- 4.1 This issue is urged by the assessee and it relates to disallowance

DCIT, BANGALORE vs. M/S WIPRO LTD.,, BANGALORE

Bench: Shri B.R. Baskaran, Accountantmember & Shri Pavan Kumar Gadaleit(Tp)A No.99/Bang/2014 Assessmentyear:2009-10

setting off of LOSS OF STPI/SEZ UNITS against business income from non-STPI/non-SEZ units:- 4.1 This issue is urged by the assessee and it relates to disallowance

INDO NISSIN FOODS PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3(1)(1), BANGALORE

In the result, the appeal by the assessee is dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2010-11

loss of Rs. 55,69,139 was set-off and book profit was Nil. This set-off was accepted by the learned DC Circle 12(3) in the scrutiny assessment. Subsequently, the assessment order was rectified under section 154, disallowing

INSTAKART SERVICES PRIVATE LIMITED ,BENGALURU vs. ACIT, CENTRAL CIRCLE-1(4), BENGALURU

In the result, the stay application dismissed as infructuous

disallowance of the entire business\nloss by the AO and sustained by the Id. CIT(A) is arbitrary, based on\nconjecture, and contrary to law. The assessee's claim of business loss\ndeserves to be allowed in full. Therefore, we hereby set

INSTAKART SERVICES PRIVATE LIMITED,BANGALORE vs. JCIT, SPECIAL RANG-3, BANGALORE

Appeals of the revenue are dismissed

disallowance of the entire business\nloss by the AO and sustained by the Id. CIT(A) is arbitrary, based on\nconjecture, and contrary to law. The assessee's claim of business loss\ndeserves to be allowed in full. Therefore, we hereby set

DCIT CC -1(4), BENGALURU, BENGALURU vs. INSTAKART SERVICES PVT LTD, BENGALURU

disallowance of the entire business\nloss by the AO and sustained by the Id. CIT(A) is arbitrary, based on\nconjecture, and contrary to law. The assessee's claim of business loss\ndeserves to be allowed in full. Therefore, we hereby set

DIVYA DINESH ,BENGALURU vs. DCIT, CIRCLE-7(1)(1), BANGALORE

In the result appeal of the assessee is allowed

loss against the\ncapital gains in accordance with law. After such set off, tax was\ncomputed and deductions under Chapter VI-A were claimed correctly.\n6.3 However, while processing the return, the CPC disallowed

M/S RAMSOFT TECHNOLOGIES PVT. LTD.,,BANGALORE vs. DCIT, BANGALORE

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

Bench: Smt. Asha Vijayaraghavan & Shri Inturi Rama Raom/S.Ramsoft Technologies Pvt. Ltd. No.104A, 4Th Cross, Electronic City, Hosur Road, Bangalore-561229. … Appellant Pa No.Aaacr 6948 R Vs. Deputy Commisioner Of Income-Tax, Circle 12(4), Bangalore. … Respondent

setting-off the carry forward losses and depreciation before the allowing the deduction u/s 10A of the Act. 6. That the learned Commissioner of Income Tax (Appeals) erred in law and on facts in disallowing

INCOME TAX OFFICER, WARD-11(1), BANGALORE vs. M/S BRITISH ENGINES(I)P LTD, BANGALORE

In the result, both the appeals of the revenue are dismissed

Bench: Shri Vijaypal Rao & Shri Inturi Rama Rao

set off where such loss relates to any of the relevant assessment years. 21. It is in this background the Finance Act, 2003 was introduced by inserting the words "the year ending upto the first day of April, 2001", for that in cls. (1) and (2) of sub-s. (6) restricting the disallowance

M/S. KHODAY INDIA LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD- 4(1)(2), BANGALORE

In the result appeal filed by assessee stands allowed

Bench: Smt. Beena Pillai & Shri. Laxmi Prasad Sahuassessment Year : 2015-16 M/S. Khoday India Ltd., The Income-Tax 7Th Mile, Brewery House, Officer, Kanakapura Road, Ward 4 (1)(2), Bangalore – 560 062. Bangalore. Pan: Aaack6734C Vs. Appellant Respondent Assessee By : Shri V. Sridhar, Ca : Shri Ramesh B.R., Addl. Cit Revenue By (Dr) Date Of Hearing : 09-06-2022 Date Of Pronouncement : 30-06-2022 Order Per Beena Pillaipresent Appeal Is Filed By The Assessee Against Order Dated 09/12/2021 Passed By The Ld.Cit(A)-11, Bangalore For Assessment Year 2015-16 On Following Grounds Of Appeal: “1. The Order Of The Learned Commissioner Of Income-Tax (Appeals), Bengaluru-11, Bengaluru In Ita No.Cit(A)- 11/Bng/Tr.10036/2018-19 (Din: Itba /Apl /M/ 250 /2021-22/ 1037634908(1) Dated:09.12.2021 Is Opposed To Law, Weight Of Evidence, Probabilities & Facts & Circumstances Of The Case. 2. The Learned Commissioner Of Income-Tax (Appeals) Erred In Confirming The Order Of The Assessing Officer Passed U/S.154 Of The Income Tax Act, 1961 Dated:14.02.2018. 3. The Learned Commissioner Of Income-Tax (Appeals) Erred In Not Directing The Assessing Officer To Set Off The Entire

disallowance made by the Ld.AO, business loss has to be set off against the income brought to tax under the head

DCIT, BANGALORE vs. M/S MAKINO INDIA PRIVATE LIMITED, BANGALORE

In the result, the assessee's appeal for Assessment Year 2004-05 is treated as partly allowed for statistical purposes

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

losses were set off against the income of the current year, there was no positive income and in that view of the matter, the Assessing Officer disallowed

MAKINO INDIA PVT. LTD.,,BANGALORE vs. ACIT,

In the result, the assessee's appeal for Assessment Year 2004-05 is treated as partly allowed for statistical purposes

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

losses were set off against the income of the current year, there was no positive income and in that view of the matter, the Assessing Officer disallowed

R V DESHPANDE HUF,BANGALORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, BANGALORE-1, BANGALORE

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

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy Sassessment Year : 2017-18

losses carried forward since 2009-10 which are eligible to set off against subsequent short term capital gains and hence the question of disallowance