M/S CESSNA GARDEN DEVELOPERS PVT.LTD,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Lalit Kumarassessment Year : 2010-11

house property', the appellant did not claim depreciation allowance under section 32 in respect of the buildings Let out on rent. The said depreciation was also not claimed Page 7 of 12 in computing the income/Loss under the head 'Profits and gains of business'. Assuming without admitting that the entire rental income is assessable under the head 'Profits and gains

DEV KUMAR ROY ,BANGALORE vs. INCOME TAX OFFICER WARD-3(1)(1), BANGALORE

In the result, appeal of the assessee is partly allowed

Bench: Shri N.V. Vasudevan & Shri Jason P Boazassessment Year : 2012-13

20. The learned CIT(A) has failed to appreciate that the painting was held by the Appellant for more than 36 months prior to its date of sale and therefore is a long- term capital asset under the provisions of section 2(29A) read with section 2(42A) of the Act. 21. The learned CIT(A) has erred in facts

M/S PRESTIGE ESTATES PROJECTS LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-18(1), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri N.V.Vasudevan, Vp & Shri Chandra Poojari, Am

20% under section 206AA of the Act. Grounds relating to applicability of section 201(1A) 4. The learned AO and CIT(A) have erred in levying interest under section 4.1. 201(1A) of the Act. On facts and in the circumstances of the case and law applicable, no interest is leviable under section 201(1A) and the assessee denies

ASSISTANT COMMISSIONER OF INCOME-TAX, BANGALORE vs. M/S.EAGLETON PROPERTY HOLDINGS CIRCLE, BANGALORE

In the result, the appeal of the Revenue is dismissed

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year : 2010-11 The Assistant Commissioner Of Vs. M/S. Eagleton Property Holdings, Income Tax #4, Model House Street, Circle -7(2)(1), Basavanagudi, Bangalore. Bangalore – 560 004. Pan : Aabfe 9867 C Appellant Respondent Appellant By : Shri. Arun Kumar, Cit(Dr)(Itat), Bengaluru Respondent By : None Date Of Hearing : 7.1.2021 Date Of Pronouncement : 7.1.2021 O R D E R Per N.V. Vasudevan

property, take measurements of the residential units constructed in this project and furnish a report. The D.V.O, after inspecting the approval of the local authorities, taking measurements of few sample residential units submitted a report in which he gave measurements of builtup area of seven residential units. Out of these seven units, the built up area of five residential units

KANTILAL JAIN,BANGALORE vs. INCOME TAX OFFICER, WARD-3(3)(1), BANGALORE

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

Bench: Shri Chandra Poojariassessment Year: 2017-18

10,00,000, thereby offering an excess income of Rs. 62,750 [4,78,000 — 4,15,250]; and d) the entry appearing under section 194DA in Form 26AS is not conclusive. 2.4. The learned CIT(A), NFAC has erred in not appreciating that a) the appellant had relied upon the amendment to section 194DA made by the Finance (No.2

S.M. CHANDRASHEKAR,BANGALORE vs. ITO, BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao

house property at Airport Road is nil u/s 23(1)(c) of the Act. 9. That the learned Commissioner of Income Tax (Appeals) erred in law and on facts in holding that the value of Jayanagar property is unexplained even though the appellant had accounted the value of the site in its books of account. 10. That the learned Commissioner

M/S. INDRAPRASTHA SHELTERS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-11(4), BANGALORE

In the result, the appeal by the assessee is allowed

Bench: Shri N. V. Vasudevan & Shri Chandra Poojariassessment Year :2011-12 M/S. Indraprastha Shelters Pvt. Ltd., Vs. The Deputy Commissioner Of Income Tax, 4Th Floor, Prestige Corniche, Circle –11(4), No.62/1, Richmond Road, Bangalore. Bangalore – 560 025. Pan : Aabci 2643 B Assessee By : Shri. G. S. Prashanth, Ca Revenue By : Shri. Priyadarshi Mishra, Jcit(Dr)(Itat), Bangalore Date Of Hearing : 14.12.2020 Date Of Pronouncement : 16.12.2020 O R D E R

House Property”, the assessee has claimed deduction of a sum of Rs.69,84,167/- under section 24(b) of the Income Tax Act, 1961 (hereinafter called ‘the Act’), as interest paid on capital borrowed for the purpose of Page 2 of 8 construction of the property. The breakup of the interest so claimed as deduction is as follows: “Pre Construction

S.M. VINOD (LEGAL HEIR OF LATE SRI. S M MUNIYAPPA),BANGALORE vs. INCOME TAX OFFICER, WARD- 7(2)(1), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2016-17

20 of the order clearly observed that the entire property constitutes one residential house, but was bifurcated with two Door Nos. for Ground Floor and 1st Floor with common entrance in Ground Floor only to earmark the share of each beneficiary and that otherwise the property constitutes a single property, though it has two different Door Nos. The Tribunal

DR. DEVIKA GUNASHEELA,BANGALORE vs. JCIT, BANGALORE

Bench: Shri N.V. Vasudevan & Shri A.K. Garodiaassessment Year: 2012-13

20,000/- as her share in the sale consideration for sale of ½ share of right title and interest over the property. 3. For assessment year 2012-13, the assessee filed a Return of income, declaring Long term Capital Gain on Dr. Devika Gunasheela, Bengaluru Page 3 of 19 sale of her share of the property. The computation of long term

SREE SESHACHALA BUILDERS LTD.,,BANGALORE vs. DCIT, BANGALORE

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

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Rao

20,413/- from allied services/ activities performed by the appellant as part of the income assessable under the head "Income from House Property" instead of assessing the said receipts under the head "Profits and Gains from Business" as returned by the appellant under the facts and in the circumstances of the appellant's case. 2.1 The learned CIT[A] failed

SREE SESHACHALA BUILDERS LTD.,,BANGALORE vs. DCIT, BANGALORE

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

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Rao

20,413/- from allied services/ activities performed by the appellant as part of the income assessable under the head "Income from House Property" instead of assessing the said receipts under the head "Profits and Gains from Business" as returned by the appellant under the facts and in the circumstances of the appellant's case. 2.1 The learned CIT[A] failed

ASST.C.I.T., BANGALORE vs. M/S PRESTIGE ESTATE PROJECTS LTD.,, BANGALORE

In the result, the appeal filed by the Revenue is dismissed and

Bench: Shri Vijay Pal Rao & Shri G. Manjunatha

house property. Therefore, firstly what is the intention behind the lease and secondly what are the facilities given along with the buildings and documents executed in respect of each of them is to be seen. Thirdly, it is to be found out whether it is inseparable or not. If they are inseparable and the intention is to carry

PRESTIGE ESTATE PROJECTS LTD.,,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal filed by the Revenue is dismissed and

Bench: Shri Vijay Pal Rao & Shri G. Manjunatha

house property. Therefore, firstly what is the intention behind the lease and secondly what are the facilities given along with the buildings and documents executed in respect of each of them is to be seen. Thirdly, it is to be found out whether it is inseparable or not. If they are inseparable and the intention is to carry

DCIT, BANGALORE vs. DR. RAJAN PAI, BANGALORE

In the result, appeal of the Revenue stands dismissed

Bench: Shri. Abraham P. George & Shri. George George Ki.T.A No.1290/Bang/2015 (Assessment Year : 2012-13) Deputy Commissioner Of Income-Tax, Central Circle -2(2), Bengaluru .. Appellant V. Dr. Rajan Pai, Block No.1B, Jakkur Plantation Village, Yelahanka Main Road, Bengaluru .. Respondent Pan : Agbpp2795G Assessee By : Shri. Sajjan Kumar Tulsiyan, Advocate Revenue By : Shri. Sanjay Kumar, Cit -Iii Heard On : 12.04.2016 Pronounced On : 29.04.2016 O R D E R Per Abraham P. George:

house. As per the AO, fair market value of the bonus shares issued by MEMG was required to be computed in accordance with Rule 11U and 11UA of the Income-tax Rules, 1962 (‘the Rules’ in ITA.1290/Bang/2015 Page - 3 short). He applied Rule 11UA and determined the fair market value of the 1,00,00,000 number of bonus shares

BASHEER NOORULLAH KHAN,BANGALORE vs. COMMISSIONER OF INCOME TAX (APPEALS), BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadaleassessment Year : 2013-14 Shri Basheer Noorullah Khan, No. 116B, 5Th Block, Khb The Commissioner Of Colony, Koramangala, Vs. Income Tax (Appeals), Bangalore – 560 034. Bangalore. Pan: Ajxpk3037H Appellant Respondent Assessee By : Shri B.S. Balachandran, Advocate Revenue By : Dr. P.V. Pradeep Kumar, Addl. Cit (Dr) Date Of Hearing : 11.07.2019 Date Of Pronouncement : 31.07.2019

10. An agreement of sale which fulfilled the ingredients of Section 53A was not required to be executed through a registered instrument. This position was changed by the Registration and Other Related Laws (Amendment) Act, 2001. Amendments were made simultaneously in Section 53A of the Transfer of Property Act and Sections 17 and 49 of the Indian Registration

KARNATAKA HOUSING BOARD vs. ADDL.DIT,

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2009-10 M/S. Karnataka Housing The Additional Board, Director Of Income Iii Floor, Cauvery Bhavan, Tax (Exemptions), Kempegowda Road, Range – 17, Bangalore – 560009. Vs. Bangalore. Pan: Aaajk0398K Appellant Respondent & Assessment Year : 2010-11 M/S. Karnataka Housing The Additional Board, Director Of Income Iii Floor, Cauvery Bhavan, Tax (Exemptions), Kempegowda Road, Range – 17, Bangalore – 560009. Vs. Bangalore. Pan: Aaajk0398K Appellant Respondent

10]. The execution of housing schemes, land development schemes and incurring of expenditure in relation thereto are subject to the control of the State Government and provisions of KHB Act [section 17]. The Board cannot enter into a contract involving an expenditure of Rs. 50 lakhs and more without the previous sanction of the State Government [section 15]. Approval

KARNATAKA HOUSING BOARD,BANGALORE vs. DDIT, BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2009-10 M/S. Karnataka Housing The Additional Board, Director Of Income Iii Floor, Cauvery Bhavan, Tax (Exemptions), Kempegowda Road, Range – 17, Bangalore – 560009. Vs. Bangalore. Pan: Aaajk0398K Appellant Respondent & Assessment Year : 2010-11 M/S. Karnataka Housing The Additional Board, Director Of Income Iii Floor, Cauvery Bhavan, Tax (Exemptions), Kempegowda Road, Range – 17, Bangalore – 560009. Vs. Bangalore. Pan: Aaajk0398K Appellant Respondent

10]. The execution of housing schemes, land development schemes and incurring of expenditure in relation thereto are subject to the control of the State Government and provisions of KHB Act [section 17]. The Board cannot enter into a contract involving an expenditure of Rs. 50 lakhs and more without the previous sanction of the State Government [section 15]. Approval

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1(2)(2), BANGALORE vs. M/S. NITESH INFRASTRUCTURE & CONSTRUCTIONS, BANGALORE

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

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

10 of 14 income from house property to be eligible for the benefit of deduction u/s. 24(a) of the Act. The CIT(Appeals) observed that the rental agreements executed by 27. the assessee with its tenants required the tenants to pay apart from the rent, the charges for parking facility provided which the AO had failed to consider