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

House property and Income from other sources. 3.1 The Income from Other Sources (`IFOS) included interest income of Rs. 3,30,282/- and income of Kantilal Jain, Bangalore Page 4 of 20 Rs. 4,78,000/- out of LIC maturity proceeds. Total tax payable in the return of income amounted to Rs. 3,34,331/-, which was paid via advance

M/S. THE SANDUR MANGANESE & IRON ORES LTD,SANDUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1,, BELLARY

In the result, both the appeals filed by the assessee stands partly allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

Section 37(1) of the Act and not otherwise. 31. For the reasons afore stated, we are of the considered view that substantial question law formulated herein is to be answered in the negative i.e., against the revenue and in favour of the assessee.” 10.5.3. In the instant case also, the assessee has contributed funds at the specific request

M/S. THE SANDUR MANGANESE & IRON ORES LTD,SANDUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, BELLARY

In the result, both the appeals filed by the assessee stands partly allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

Section 37(1) of the Act and not otherwise. 31. For the reasons afore stated, we are of the considered view that substantial question law formulated herein is to be answered in the negative i.e., against the revenue and in favour of the assessee.” 10.5.3. In the instant case also, the assessee has contributed funds at the specific request

SHRI MUNIYAPPA NARASHIMAIAH,BANGALORE vs. INCOME TAX OFFICER, WARD- 6(2)(3), BANGALORE

In the result, appeal of the assesseeis treated as allowed for statistical purposes

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathyassessment Year :2013-14 Shri. Muniyappa Narashimaiah, Vs. Ito, No.120/1, Hessarghatta Main Road, Ward – 6(2)(3), Bhuvaneshwari Nagar, T Dasarahalli, Bengaluru. Bengaluru – 560 057. Pan : Abmpn 5245 R Appellant Respondent Assessee By : Shri. Mahesh Kumar, Advocate Revenue By : Shri. Priyadarshini Mishra, Addl. Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 25.04.2022 Date Of Pronouncement : 27.04.2022 O R D E R Per N. V. Vasudevan: . V. Vasudevan

10(37) of the Act was rightly refused by the Revenue authorities. 12. In so far as the deduction under section 54 of the Act is concerned, there is no dispute that the assessee purchased new property but the deduction under section 54 of the Act is available only when the long-term capital gain is available from the transfer

NIRMAN SONESTAA DEVELOPERS,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 4(1)(1), BANGALORE

In the result, the appeal by the assessee is dismissed

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhailassessment Year: 2018-19

House and for the purpose of selling the major portions of the said building in the form of flats to various customers. The assessee got the original building plans sanctioned and commenced the constructions. The assessee had no right to make deviations from the sanctioned plan or to continue the construction after the sanction had lapsed. Any constructions thus made

M/S. DEEPALI COMPANY PRIVAE LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD- 2(1)(2), BANGALORE

In the result, the appeal filed by assessee stands dismissed

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2016-17 M/S. C. Krishniah Chetty & Co. Pvt. Ltd., The Income Tax (Earlier Known As :Deepali Co. Officer, Pvt. Ltd.) Ward – 2 (1)(2), 35, Commercial Street, Bangalore. Bangalore – 560 001. Vs. Pan: Aaacd5120H Appellant Respondent : Shri Narendra Sharma, Assessee By Advocate : Smt. Priyadarshini Revenue By Basaganni, Addl. Cit (Dr) Date Of Hearing : 01-06-2022 Date Of Pronouncement : 21-06-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 03.0.2020 Passed By Ld.Cit(A)-2, Bangalore For A.Y. 2016-17 On The Following Grounds Of Appeal: “1.1 On The Facts & Circumstances Of The Case, The Learned Commissioner Of Income Tax Erred In Not Allowing Business Loss For The Year Of Rs. 114,66.766/- On The Ground That The Business Of The Assessee Company Is Closed & There Are No Receipts From Operation Of Business.

37 of the Act can be summarised as below: a) Such expenditure should not be covered under the specific section i.e. sections 30 to 36. b) Expenditure should not be of capital nature c) The expenditure should be incurred during the previous year. d) The expenditure should not be of personal nature. e) The expenditure should have been incurred wholly

SRI. G.S. SHIVANNA(HUF),BANGALORE vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, BENGALURU-4, BENGALURU

In the result, appeal of the assessee is partly allowed

Bench: Shri N. V. Vasudevan & Shri Chandra Poojariassessment Year : 2015-16 Shri. G. S. Shivanna (Huf), Pcit, Vs. No.3, Basaveshwara Nilaya, Bengaluru – 4, Yelachenahalli, Kanakapura Road, Bengaluru. Bengaluru – 560 078. Pan : Aaahg 7097 K Appellant Respondent Assessee By : Shri. Satish S, Advocate Revenue By : Shri. Manjunath Karkihalli, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 25.08.2022 Date Of Pronouncement : 30.08.2022 O R D E R Per N. V. Vasudevan

section 263 of the Act dated 02.07.2019 was issued by the PCIT. To the aforesaid show cause notice, the assessee submitted a reply dated 21.07.2019 which is as follows: Residential house property at No.3, Basaveshwara Nilaya, 1) Yellachenahalli is my self acquired property, I am declaring the same in my individual tax return from the beginning. Copy of the return

DR. SHEELA PUTTABUDDI,BANGALORE vs. INCOME TAX OFFICER, WARD- 3(3)(5), BANGALORE

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

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

10 ITA No.293/Bang/2020. Dr.Sheela Puttabuddi. payment for and behalf of the assessee and the stamp duty also has been paid by him which clearly establish the fact that the advance paid by the assessee to Sri. B. Suresh was with an intention to reinvest the proceeds of capital gains in acquiring a new property and consequently the conditions as specified

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

housed in sections 28 to 44DB. Under section 28(i) the profits and gains of any business or profession carried on by the assessee at any time during the previous year is chargeable to tax. As per section 29, the income referred to in section 28 should be computed in accordance with the provisions contained in sections

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

housed in sections 28 to 44DB. Under section 28(i) the profits and gains of any business or profession carried on by the assessee at any time during the previous year is chargeable to tax. As per section 29, the income referred to in section 28 should be computed in accordance with the provisions contained in sections

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 34 against the assessee as the karta of a HUF. Further, the High Court had not expressed its opinion on the question based upon section 25 of the 1992 Act. In the result, the order of the High Court was set aside and the appeal was remanded to the High Court for disposal in accordance with

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 34 against the assessee as the karta of a HUF. Further, the High Court had not expressed its opinion on the question based upon section 25 of the 1992 Act. In the result, the order of the High Court was set aside and the appeal was remanded to the High Court for disposal in accordance with

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 34 against the assessee as the karta of a HUF. Further, the High Court had not expressed its opinion on the question based upon section 25 of the 1992 Act. In the result, the order of the High Court was set aside and the appeal was remanded to the High Court for disposal in accordance with

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, HUBBALLI, HUBBALLI vs. SMT. SHEELA PRASANNAKUMAR , CHITRADURGA

In the result, the appeals of the Revenue are dismissed

37 of the Wealth-tax Act. 1957 (27 of 1957). shall, with\nnecessary modifications, apply in relation to such reference as they\napply in relation to a reference made by the Assessing Officer under\nsub-section (1) of section 16/1 of that Act.-\n5.3 Therefore, it is quite clear that upon receipt of objection from the\nappellant, the AO ought

M/S SCANIA COMMERCIAL VEHICLES INDIA PVT LTFD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-6(1)(1), BANGALORE

The Appeal of the Assessee is allowed

Bench: Shri Prashant Maharishi, Vice – & Shri Keshav Dubey

house property. The claim of the Assessee is that it is chargeable to tax as profits and gains of business and profession. 5. Coming to the ground no. 17, with respect to the depreciation, the fact shows that Assessee has made an addition of Rs. 15,56,16,965/- and intangible assets were added

M/S. WIPRO LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranit(Tp)A No.2556/Bang/2019 Assessment Year : 2015-16

37(1). Hence, the assessee had no intention to claim the expenditure under the head "scientific research." IT(TP)A No.2556/Bang/2019 M/s. Wipro Limited, Bangalore Page 8 of 85 2.16 Section 35 relates to allowance of expenditure towards scientific Research. The Act permits the claim of expenditure of scientific research for both inhouse R&D and institutional

M/S ALCON LABORATORIES INDIA PRIVATE LIMITED ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1(1)(1), BANGALORE

In the result, the appeals filed by the assessee in IT(TP)A No

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(Tp)A No.2889/Bang/2017 It(Tp)A No.3376/Bang/2018 Assessment Years: 2013-14 & 2014-15

section 37 of the Act. In this case, taxpayer gifted expensive gifts such as hospitality, conference fees, gold coins, LCD TVs, fridges, laptops, etc. to medical practitioners to promote its nutritional health supplement 'Zincovit'. In Appellant's case, the expenditure is towards contractual obligations with some doctors for seeking their services in lieu of remuneration. In fact, in the agreement

ALCON LABORATORIES (INDIA0 PVT LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), BENGALURU

In the result, the appeals filed by the assessee in IT(TP)A No

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(Tp)A No.2889/Bang/2017 It(Tp)A No.3376/Bang/2018 Assessment Years: 2013-14 & 2014-15

section 37 of the Act. In this case, taxpayer gifted expensive gifts such as hospitality, conference fees, gold coins, LCD TVs, fridges, laptops, etc. to medical practitioners to promote its nutritional health supplement 'Zincovit'. In Appellant's case, the expenditure is towards contractual obligations with some doctors for seeking their services in lieu of remuneration. In fact, in the agreement