DCIT, BANGALORE vs. SHRI. JAGADISH N HINDUJA, BANGALORE

In the result, appeals filed by the revenue and COs filed by the assessee are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2006-07 Shri Jagadish N. Hinduja Deputy Commissioner Of Income- No.7 & 12, Industrial Suburb Tax Tumkur Road Vs. Circle 11(3) Yeshwanthpur Bangalore Bangalore 560 022 Pan No.Aacph7291Q Appellant Respondent Assessment Year: 2006-07 Shri Sumir J. Hinduja Deputy Commissioner Of Income- No.7 & 12, Industrial Suburb Tax Tumkur Road Vs. Circle 11(3) Yeshwanthpur Bangalore Bangalore 560 022 Pan No.Aaeph5197H Appellant Respondent C.O. No.48/Bang/2013 (Arising Out Of Ita No.1373/Bang/2012) Assessment Year: 2006-07 Shri Jagadish N. Hinduja Vs. Dcit, Circl-11(3),Bangalore Appellant Respondent C.O. No.49/Bang/2013 (Arising Out Of Ita No.1374/Bang/2012) Assessment Year: 2006-07 Shri Sumir J. Hinduja Vs. Dcit, Circl-11(3),Bangalore Appellant Respondent Appellant By : Shri Susan Dolores George, D.R. Respondent By : Shri Ashok A Kulkarni, A.R.

house at Coonoor 'Rs.43,57,400). h) In respect of payments made by Gokuldas Images to Personality Limited, the corresponding voucher entries / bank statements of M/s. GIPL. i) Copy of General Ledger Report from 1.4.2005 to 31.3.2006 under the head " General Ledger -Loans to Directors" in the group name "Loans and advances" as appearing in the books of M/s. Gokaldas

DCIT, BANGALORE vs. SHRI. SUMIR J HINDUJA, BANGALORE

In the result, appeals filed by the revenue and COs filed by the assessee are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2006-07 Shri Jagadish N. Hinduja Deputy Commissioner Of Income- No.7 & 12, Industrial Suburb Tax Tumkur Road Vs. Circle 11(3) Yeshwanthpur Bangalore Bangalore 560 022 Pan No.Aacph7291Q Appellant Respondent Assessment Year: 2006-07 Shri Sumir J. Hinduja Deputy Commissioner Of Income- No.7 & 12, Industrial Suburb Tax Tumkur Road Vs. Circle 11(3) Yeshwanthpur Bangalore Bangalore 560 022 Pan No.Aaeph5197H Appellant Respondent C.O. No.48/Bang/2013 (Arising Out Of Ita No.1373/Bang/2012) Assessment Year: 2006-07 Shri Jagadish N. Hinduja Vs. Dcit, Circl-11(3),Bangalore Appellant Respondent C.O. No.49/Bang/2013 (Arising Out Of Ita No.1374/Bang/2012) Assessment Year: 2006-07 Shri Sumir J. Hinduja Vs. Dcit, Circl-11(3),Bangalore Appellant Respondent Appellant By : Shri Susan Dolores George, D.R. Respondent By : Shri Ashok A Kulkarni, A.R.

house at Coonoor 'Rs.43,57,400). h) In respect of payments made by Gokuldas Images to Personality Limited, the corresponding voucher entries / bank statements of M/s. GIPL. i) Copy of General Ledger Report from 1.4.2005 to 31.3.2006 under the head " General Ledger -Loans to Directors" in the group name "Loans and advances" as appearing in the books of M/s. Gokaldas

YASH VARDHAN ARYA,BANGALORE vs. THE INCOME TAX OFFICER, (INTERNATIONAL TAXATION) WARD-1(1), BANGALORE

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

Bench: Shri George George K

deemed as let out. Therefore, these provisions cannot be applied when there is a time lag between the acquisition of the property and letting out of the property and there is no allegation of deliberate unreasonable delay in letting out of the property. Thus in view of the above facts and circumstances of the case as well as the decision

WEP PERIPHERALS LTD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2012 – 13

Housing & Infrastructure (P) Ltd. 59 CCH 0141. m) He submitted that when the lender EPL has declared dividend and paid dividend distribution tax, there is no intention to avoid payment of dividend distribution tax u/s 115-O of the Act and provisions of section 2(22)(e) of the Act cannot be applied. For this purpose, he relied

SMT. RINKU CHAKRABORTHY,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(1), BANGALORE

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

Bench: Shri Waseem Ahmed & Shri Soundararajan Kassessment Years : 1995-96

deemed dividend u/s 2(22)(e) of the Act, whereas the transaction between the assessee and shareholder was in the nature of commercial transactions. Page 2 of 7 2.1 The necessary facts are that the assessee in the present case is an individual and declared her income under the head ‘salary, house property

SARITA DUDHERIA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)(2), BANGALORE

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

House Property of Rs.72,996/-, Short term capital gains of Rs.5,32,549/- and Income from Other sources of Rs.33,990/-. The assessee also earned exempt . Long term capital gains of Rs.2,93,54,121/- and dividend of Rs.13,47,615/-. A notice u/s Page 7 of 18 ITA Nos. 380 to 382/Bang/2020 148 of the Act dt.31.03.2018 was issued

SARITA DUDHERIA,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE- 1(2), BANGALORE

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

House Property of Rs.72,996/-, Short term capital gains of Rs.5,32,549/- and Income from Other sources of Rs.33,990/-. The assessee also earned exempt . Long term capital gains of Rs.2,93,54,121/- and dividend of Rs.13,47,615/-. A notice u/s Page 7 of 18 ITA Nos. 380 to 382/Bang/2020 148 of the Act dt.31.03.2018 was issued

SARITA DUDHERIA,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE- 1(2), BANGALORE

In the result, all the three appeals filed by assessee stands partly allowed for statistical purposes for all the years under consideration

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

House Property of Rs.72,996/-, Short term capital gains of Rs.5,32,549/- and Income from Other sources of Rs.33,990/-. The assessee also earned exempt . Long term capital gains of Rs.2,93,54,121/- and dividend of Rs.13,47,615/-. A notice u/s Page 7 of 18 ITA Nos. 380 to 382/Bang/2020 148 of the Act dt.31.03.2018 was issued

CHINNASWAMY SUNDER RAJU,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(4), BENGALURU

In the result the appeal of the assessee is partly allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyassessment Year : 2017-18

House Property, Capital gains and other sources. The same was taken up for complete scrutiny based upon computer aided scrutiny selection (CASS)and the assessment was duly completed u/s 143(3) by order dated 21/11/2019, by determining the taxable income at Rs 7,83,68,530/-. 4. A search proceedings u/s 132 of IT Act, 1961 was conducted

M/S. RMZ HOTELS PRIVATE LIMITED,BANGALORE vs. NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Chandra Poojariassessment Year: 2018-19

house property, it can also set up another line of business, it may even pay dividends out of this income to its shareholders. There is no overriding title of anybody diverting the income at source to pay the amount to the creditors of the company. It is well- settled that tax is attracted at the point when the income

DINESH KUMAR SINGHI,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)(2), BANGALORE

In the result, the appeal filed by the assessee for A

Bench: Shri Chandra Poojari & Smt. Beena Pillai

House Property of Rs.35,41,250/-, Income from Business of Rs.24,00,000/-, Short term capital gains of Rs.78,85,727/- and Income from Other sources of Rs.98,23,674/-. The assessee also earned exempt Long term capital gains of Rs.80,97,954/- and dividend of Rs.56,34,559/-. The case was selected for scrutiny and the assessment was completed

DINESH KUMAR SINGHI,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE- 1(1)(2), BANGALORE

In the result, the appeal filed by the assessee for A

Bench: Shri Chandra Poojari & Smt. Beena Pillai

House Property of Rs.35,41,250/-, Income from Business of Rs.24,00,000/-, Short term capital gains of Rs.78,85,727/- and Income from Other sources of Rs.98,23,674/-. The assessee also earned exempt Long term capital gains of Rs.80,97,954/- and dividend of Rs.56,34,559/-. The case was selected for scrutiny and the assessment was completed

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

property, profits and gains of business or profession, capital gains and income from other sources. Insofar as income under the head 'profits and gains of business or professions' is concerned, provisions thereto are contained in Sections 28 to 44DB of the Act. Section 28 specifies various incomes which shall be chargeable to income tax under this head. Thereafter, Section

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

property,\nprofits and gains of business or profession, capital gains and income from other\nsources. Insofar as income under the head 'profits and gains of business or\nprofessions' is concerned, provisions thereto are contained in Sections 28 to 44DB of\nthe Act. Section 28 specifies various incomes which shall be chargeable to income tax\nunder this head. Thereafter, Section

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

property, profits and gains of business or profession, capital gains and income from other sources. Insofar as income under the head 'profits and gains of business or professions' is concerned, provisions thereto are contained in Sections 28 to 44DB of the Act. Section 28 specifies various incomes which shall be chargeable to income tax under this head. Thereafter, Section

M/S. BANGALORE METRO RAIL CORPORATION LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)(2), BANGALORE

In the result, all the appeals of the assessee as well as revenue’s appeal are partly allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2011-12

deemed to be a revenue receipt in the hands of the assessee. It is the purpose for which it is given that is material and is the determining factor if the receipt was given to meet the capital cost of the assessee company that receipt to be considered as capital receipt and cannot be taxed. In other words

M/S. BANGALORE METRO RAIL CORPORATION LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)(2), BANGALORE

In the result, all the appeals of the assessee as well as revenue’s appeal are partly allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2011-12

deemed to be a revenue receipt in the hands of the assessee. It is the purpose for which it is given that is material and is the determining factor if the receipt was given to meet the capital cost of the assessee company that receipt to be considered as capital receipt and cannot be taxed. In other words

M/S. BANGALORE METRO RAIL CORPORATION LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(2), BANGALORE

In the result, all the appeals of the assessee as well as revenue’s appeal are partly allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2011-12

deemed to be a revenue receipt in the hands of the assessee. It is the purpose for which it is given that is material and is the determining factor if the receipt was given to meet the capital cost of the assessee company that receipt to be considered as capital receipt and cannot be taxed. In other words