ASSISTANT COMMISSIONER OF INCOME TAX, BENGALURU vs. CMR JNANADHARA TRUST, BENGALURU

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

Bench: Shri George George K & Shri Waseem Ahmed

property for the benefit of the settlor, etc., contained in section 13(1)(c) and (d) of that Act, the said rate will not apply: to the business profits of such trusts which are otherwise chargeable to fax. In other word, where such a trust contravenes the provisions of section 13(1) (c) or (d) of the Act, the maximum

SHRI. KOLA VENKAT RAMA NAIDU,BANGALORE vs. THE COMMISSIONER OF INCOME TAX (APPEALS) - 6, BANGALORE

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

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

house property and other sources filed return of income electronically for the assessment year 2010-11 on 13.10.2010 declaring income of Rs.54,34,810/-. A survey u/s 133A of the Income-tax Act,1961 ['the Act' for short] was conducted on 2.3.2015 at the business premises of the assessee. During the survey, the assessee was asked to explain the present

BINDUMALYAM PANDURANGA ALLANHARINARAYAN ,BANGALORE vs. INCOME TAX OFFICER, WARD-5(2)(1), BENGALURU

In the result, appeal filed by the assessee is partly\nallowed

property. Further, If the assessee would not have agreed\nto provide the maintenance services to the State Bank of India, then\nthat could be provided by some other third party separately as an\nindependent business. According to Section 2(13) of the Act, the\nterm \"business\" includes any trade, commerce, or manufacture or\nany adventure or concern in the nature

GOBINDRAM CHANDRAMANI VIVEK,BANGALORE vs. INCOME TAX OFFICER - WARD 1(1), BANGALORE, BANGALORE

In the result, the appeal of the assessee is allowed for statistical purposes, in the manner indicated in this order

Bench: Mrs. Beena Pillai & Shri Ramit Kochar

property being original asset was sold on 3rd, March, 2011 , while the new residential house was purchased on 28th February, 2013. 10.2 The ld. JCIT-DR submitted that double deduction is not permissible. The intent of law is that the double deduction is not allowed under section 24(b) towards interest paid on housing loan as well while computing cost

M/S. VIJAYANAGAR EDUCATIONAL TRUST,BENGALURU vs. THE COMMISSIONER OF INCOME TAX (EXEMPTION), BENGALURU

In the result appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Soundararajan K.Assessment Year: 2019-20

house and also borrowed a gold loan of Rs.9,13,990 from Muthoot Finance Ltd. This loan was repaid of Rs.1,49,66,540/- to Standard Chartered Bank and Rs.9,30,990/- to the Muthoot Gold Loan. As these loans were never obtained for the benefit of the trust, the repayment of the loan was made out of the trust

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

13] Now the question arose as to what would be the correct and workable interpretation of the words 'property is let' in clause (c) of section 23 (1). For this, it is to be determined as to whether actual letting out is a must for a property to fall within the purview of clause (c) of section 23(1). [Para

M/S. EMBASSY KNOWLEDGE INFRASTRUCTURE PROJECTS PRIVATE LIMITED,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 2(1)(2), BANGALORE

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

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

section 27(iiib) of the Act. On the other hand, under certain circumstances, where the income may have been derived from letting out of the premises, it can still be treated as business income if letting out of the premises itself is the business of the assessee. What is the test which has to be applied to determine whether

KARNATAKA INDUSTRIAL AREAS DEVELOPMENT BOARD,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, EXEMPTIONS, CIRCLE-1, , BANGALORE

In the result, the grounds raised by the assessee in both the appeals\nare allowed except the limitation ground

13(8) of the Act and treated the income under the\nhead “Profits and Gains of Business or Profession”. Thereafter the Ld.CIT(A)\nhad considered the other disallowances and granted partial relief.\n7. The assessee not satisfied with the orders of the Ld.CIT(A), is in\nappeals before this Tribunal.\n8. At the time of hearing, the Ld.AR submitted that

KARNATAKA INDUSTRIAL AREAS DEVELOPMENT BOARD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, EXEMPTIONS, CIRCLE-1, BANGALORE

In the result, the grounds raised by the assessee in both the appeals\nare allowed except the limitation ground

13(8) of the Act and treated the income under the\nhead “Profits and Gains of Business or Profession”. Thereafter the Ld.CIT(A)\nhad considered the other disallowances and granted partial relief.\n7. The assessee not satisfied with the orders of the Ld.CIT(A), is in\nappeals before this Tribunal.\n8. At the time of hearing, the Ld.AR submitted that

LATE JAGJIT SINGH BAJWA LEAGAL HEIR HARLEEN BAJWA ,BANGALORE vs. INCOME TAX OFFICER, WARD-4(2)(3), BANGALORE

In the result, appeal of the assessee is allowed

property is considered, it would continue to\nbe owned by co-owners. Joint ownership is different from absolute\nownership. In the case of residential unit, none of the co-owners can\nclaim that he is the owner of residential house. Ownership of a\nresidential house, in our opinion, means ownership to the exclusion of\nall others. Therefore, where a house

SMT. REHANA ABDUL JABBAR,MANGALURU vs. ASSISTANT COMMISSIONER OF INCOME-TAX, (INTERNATIONAL TAXATION), MANGALURU

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2013-14

section 54(2) of the Act or invested in construction of new residential house within the stipulated time, then assessee is entitled to claim deduction u/s 54F of the Act and the AO could postpone the taxing of the deduction claimed by the assessee u/s 54F of the Act. However, in the present case, there was no circumstances which show

HANCHIPURA CHANNAIAH NANDAKISHORE,MAHALKSHMIPURAM vs. INCOME TAX OFFICER WARD INTL, TAXATION 1(2) BANGALORE, BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyit(It)A No.258/Bang/2025 Assessment Year : 2018-19 Hanchipura Channaiah Nandakishore 87, 2Nd Stage & Phase Mahalakshmipuram 2Nd Stage, 14Th Main, West Of Chord Ito Road Vs. Ward International Taxation 1(2) Mahalakshmipuram Bangalore Bangalore 560 086 Pan No :Blrpn0428A Appellant Respondent Appellant By : Sri Siddesh N Gaddi, A.R. Respondent By : Dr. Divya K.J., D.R. Date Of Hearing : 07.08.2025 Date Of Pronouncement : 04.11.2025

property in name of his married widowed daughter and the exemption was allowed to the assessee. (h) Mrs. Kamal Murlidhar Mokashi v. ITO [2019] 110 taxmann.com 120/179 ITD 265 (Pune - Trib.)In order to claim deduction under section 54F, new residential house need not be purchased by assessee in his own name or exclusively in his name. 13

SMT. S.M.SHOBA,BENGALURU vs. INCOME TAX OFFICER, WARD - 7(2)(1), BANGALORE

In the result, the appeal filed by assessee stands allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2016-17 Smt. S.M. Shoba, No. 1489, First Floor, The Income Tax 40Th Cross, 4Th T Block, Officer, Jayanagar, Ward 7 (2)(1), Bangalore – 560 041. Bangalore. Vs. Pan: Cxkps1454H Appellant Respondent Assessee By : Shri Ramasubramanian, Ca : Shri Priyadarshi Mishra, Addl. Revenue By Cit (Dr) Date Of Hearing : 09-02-2022 Date Of Pronouncement : 30-03-2022 Order Per Beena Pillaipresent Appeal Has Been Filed By Assessee Against The Order Dated 05.07.2019 Passed By The Ld.Cit(A)-7, Bangalore For Assessment Year 2016-17 On Following Grounds Of Appeal. “1. That The Order Of The Learned Commissioner Of Income- Tax (Appeals) In So Far It Is Prejudicial To The Interests Of The Appellant Is Bad & Erroneous In Law & Against The Facts & Circumstances Of The Case. 2. That The Learned Commissioner Of Income-Tax (Appeals) Erred In Law & On Facts In Denying The Cost Of The Land For Claiming Exemption U/S. 54F Of The Act On The Ground That Such Land Was Purchased Four Years Prior To The Date Of Sale Of Original Asset. 3. That The Learned Commissioner Of Income Tax (Appeals) Erred In Law & On Facts In Making An Enhancing The Assessment By Making A Of Disallowance From Rs.

section 54 F was claimed was acquired on 10/02/2011, i.e., 4 years prior to the transfer of original asset and that the assessee constructed the residential house on the same property which is valued at Rs.3,12,13

NAVJYOTI SHARMA,BANGALORE vs. DCIT ASMNT, BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

house; (v) Assessee must have within a period of two years after that date purchased another property; (vi) Property purchased must be residential; (vii) Exemption would be available only to the extent the sale proceeds are utilised; (viii) Where re-investment in a residential property is not made before due date for filing report, amount not so utilised till such

SHARADA MOHAN SHETTY,KARWAR vs. ITO, WARD-2, KARWAR

In the result, appeal of the assessee is partly allowed

Bench: Or During The Courses Of Appeal Hearing.” 2. The Brief Facts Of The Case Are That The Assessee Filed Return Of Income On 30/09/2015 For The Assessment Year 2015-16 Declaring Page 2 Of 16

property. In the special facts and circumstances of the present case, therefore, it is necessary to hold that the amount utilised by the assessee to purchase the land was in fact utilised for acquiring/constructing a residential house. Without purchasing land the house cannot be constructed. The first step Page 9 of 16 should be the purchase of land. That

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

property by party’s own act as distinguished from acquisition by act of law. In the context in which the expression issued by the Legislature requires first to be understood and interpretation that suits the context requires to be adopted. Exemption of capital gains under Section 54G of the Act can be claimed on transfer of assets in cases

KARNATAKA HOUSING BOARD,BANGALORE vs. DCIT, EXEMPTIONS, CIRCLE-1, , BANGALORE

Bench: Shri Laxmi Prasad Sahu\Nand\Nshri Keshav Dubey\N\Nita Nos.512 & 513/Bang/2025\N Assessment Year : 2021-22 & 2015-16\N\Nkarnataka Housing Board\N4Th Floor Cauvery Bhavan\Nk.G. Road\Nbangalore 560 009\Nvs.\Ndcit (Exemptions)\Ncircle-1\Nbangalore\N\Npan No:Aaajk0398K\N\Nappellant Respondent\N\Nappellant By : Sri Padamchand Khincha, A.R.\Nrespondent By : Sri K.M. Mahesh, D.R.\N\Ndate Of Hearing : 17.09.2025\Ndate Of Pronouncement : 15.12.2025\N\Norder\N\Nper Keshav Dubey:\N\Nthese Appeals At The Instance Of The Assessee Are Directed Against The Orders Of The 1D. Cit(A)/Nfac Dated 18.02.2025 Vide Din & Order No.Itba/Nfac/S/250/2024-25/1073418441(1) For The Assessment Year 2021-22 & Vide Order Dated 31.1.2025 With Din & Order No.Itba/Nfac/S/250/2024-25/1072790068(1) For The Assessment Year 2015-16 Passed U/S 250 Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issues In Both The Appeals Are Similar, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience.\N\N2. First, We Take Up Assessee'S Appeal In Ita No.512/Bang/2025 For The Assessment Year 2021-22 For Adjudication. The Assessee Has Raised The Following Grounds Of Appeal:\N\N1. General Ground\N\N1.

13(8) are inapplicable and consequently exemption under section 11 is to be allowed as claimed by the appellant.\n\n3. Levy of interest under section 234A and 234B\n\n6.1 The learned CIT(A), NFAC erred in confirming the levy of interest under section 234A and 234B of the Act. On facts and circumstances of the case

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

BHAGYA MAHANTESH KHODANPUR ,HUBBALLI vs. INCOME TAX OFFICER, WARD-2(1), HUBBALLI

In the result, appeal of the assessee is partly allowed

Bench: Dr. Dipak P. Ripote & Shri Prakash Chand Yadavassessment Year: 2015-16 Bhagya Mahantesh Khodanpur, Income Tax Officer, Indu Arcade, Vithoba Galli, Ward-2(1), Durgadbail, Vs. Hubballi. Hubballi-580020. Pan No : Apxpk0150P Appellant Respondent Appellant By : Sri Sudheendra B.R, Advocate Respondent By : Sri Ganesh R Ghale, Advocate-Standing Counsel For Revenue Date Of Hearing : 20.08.2025 Date Of Pronouncement : 21.08.2025 O R D E R Per Dr. Dipak P. Ripote: This Is An Appeal Filed By Bhagya Mahantesh Khodanpur Against The Order Of The Learned Commissioner Of Income Tax (Appeals) (Nfac) (In Short “Ld. Cit(A)”) Passed U/S. 250 Of The Income Tax Act, 1961 (In Short “The Act”) For Asst Year 2015-16 On 28/03/2025 Emanating From Assessment Order Dated 29/12/2017 Passed U/S. 143(3) Of The Act. 2. The Assessee Has Raised The Following Grounds Of Appeal: “1. The Order Passed By The Ld. Addl / Joint Commissioner Of Income Tax (Appeals)-2, Gurugram U/S. 250 Of The Act Dated 28/03/2025 Is Bad In Law & Liable To Be Quashed. Addition Of Rs. 4,42,500/- Is Bad In Law & 2. Liable To Be Deleted.

section 24(b) clearly states that where the property has been acquired or constructed with borrowed capital, the amount of Page 7 of 8 Bhagya Mahantesh Khodanpur vs. ITO any interest payable on such capital shall be allowed as deduction. It is also noted that the Assessing Officer has directly received interest Certificate from KSFC. It is also observed that