M/S MFAR DEVELOPERS PVT LTD ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4(1)(2), BANGALORE

In the result, the assessee’s appeal for assessment year 2012-13 is partly allowed

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale1. Ita Nos.1649/Bang/2017 (Assessment Year: 2012-13) 2. Ita No.730/Bang/2018 (Assessment Year: 2013-14) & 3. Ita No.731/Bang/2018 (Assessment Year; 2014-15) M/S.Mfar Developers Pvt. Ltd. No.3, Lavelle Road, Bengaluru-560 001. … Appellant Pan:Aafcm 6271 M Vs. 1-2. Assistant Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. 3. Deputy Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. … Respondent Appellant By : Shri K.K.Chythanya, Advocate. Respondent By : Dr. P.V.Pradeep Kumar, Addl.Cit(Dr) Date Of Hearing: 22/03/2019 Date Of Pronouncement: 24/04/2019 O R D E R Per Pavan Kumar Gadale, Jm: The Assessee Has Filed Appeals Against Different Orders Of The Cit(A) For Assessment Years 2012-13, 2013-14 & 2014- 15. Ita Nos.1649/Bang/2017 & 730 & 731/Bang/2018 Page 2 Of 16 2. As Far As Ground No.2 In Respect Of Disallowance Of Proportionate Interest U/S 24(B) Of The Income-Tax Act,1961 ['The Act' For Short], The Assessee Has Raised Similar Grounds Of Appeal For Assessment Years 2012-13, 2013-13 & 2014-15. Similarly, For The Assessment Year 2012-13, The Assessee Has Raised An Alternative Plea To Allow Interest U/S 36(1)(Iii) Which Is Also Ground Of Appeal In Assessment Years 2013-14 & 2014-15. For The Assessment Year 2012-13, The Assessee Raised Ground For Allowance Of Deduction Towards Processing Fees & Pre-Payment Charges U/S 24(B) Of The Act. For The Assessment Year 2013-14, The Assessee Has Raised A Ground For Disallowance Of Rs.25,77,78/- Under The Provisions Of Section 14A Of The Act.

House Property', erred in disallowing the interest on capital borrowed and used for acquiring the said building complex. 2.7. The Learned Commissioner (Appeals) and Learned Assessing Officer having allowed interest in respect of Rs. 45 Crores which was utilised towards re-payment of old loan, have erred in disallowing interest in respect of balance Rs. 19.50 Crores which was utilised

M/S MFAR DEVELOPERS PVT LTD ,BANGALORE vs. THE ASSISTAT COMMISSIONER OF INCOME TAX CIRCLE-4(1)(2), BANGALORE

In the result, the assessee’s appeal for assessment year 2012-13 is partly allowed

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale1. Ita Nos.1649/Bang/2017 (Assessment Year: 2012-13) 2. Ita No.730/Bang/2018 (Assessment Year: 2013-14) & 3. Ita No.731/Bang/2018 (Assessment Year; 2014-15) M/S.Mfar Developers Pvt. Ltd. No.3, Lavelle Road, Bengaluru-560 001. … Appellant Pan:Aafcm 6271 M Vs. 1-2. Assistant Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. 3. Deputy Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. … Respondent Appellant By : Shri K.K.Chythanya, Advocate. Respondent By : Dr. P.V.Pradeep Kumar, Addl.Cit(Dr) Date Of Hearing: 22/03/2019 Date Of Pronouncement: 24/04/2019 O R D E R Per Pavan Kumar Gadale, Jm: The Assessee Has Filed Appeals Against Different Orders Of The Cit(A) For Assessment Years 2012-13, 2013-14 & 2014- 15. Ita Nos.1649/Bang/2017 & 730 & 731/Bang/2018 Page 2 Of 16 2. As Far As Ground No.2 In Respect Of Disallowance Of Proportionate Interest U/S 24(B) Of The Income-Tax Act,1961 ['The Act' For Short], The Assessee Has Raised Similar Grounds Of Appeal For Assessment Years 2012-13, 2013-13 & 2014-15. Similarly, For The Assessment Year 2012-13, The Assessee Has Raised An Alternative Plea To Allow Interest U/S 36(1)(Iii) Which Is Also Ground Of Appeal In Assessment Years 2013-14 & 2014-15. For The Assessment Year 2012-13, The Assessee Raised Ground For Allowance Of Deduction Towards Processing Fees & Pre-Payment Charges U/S 24(B) Of The Act. For The Assessment Year 2013-14, The Assessee Has Raised A Ground For Disallowance Of Rs.25,77,78/- Under The Provisions Of Section 14A Of The Act.

House Property', erred in disallowing the interest on capital borrowed and used for acquiring the said building complex. 2.7. The Learned Commissioner (Appeals) and Learned Assessing Officer having allowed interest in respect of Rs. 45 Crores which was utilised towards re-payment of old loan, have erred in disallowing interest in respect of balance Rs. 19.50 Crores which was utilised

M/S MFAR DEVELOPERS PVT LTD ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4(1)(2), BANGALORE

In the result, the assessee’s appeal for assessment year 2012-13 is partly allowed

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale1. Ita Nos.1649/Bang/2017 (Assessment Year: 2012-13) 2. Ita No.730/Bang/2018 (Assessment Year: 2013-14) & 3. Ita No.731/Bang/2018 (Assessment Year; 2014-15) M/S.Mfar Developers Pvt. Ltd. No.3, Lavelle Road, Bengaluru-560 001. … Appellant Pan:Aafcm 6271 M Vs. 1-2. Assistant Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. 3. Deputy Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. … Respondent Appellant By : Shri K.K.Chythanya, Advocate. Respondent By : Dr. P.V.Pradeep Kumar, Addl.Cit(Dr) Date Of Hearing: 22/03/2019 Date Of Pronouncement: 24/04/2019 O R D E R Per Pavan Kumar Gadale, Jm: The Assessee Has Filed Appeals Against Different Orders Of The Cit(A) For Assessment Years 2012-13, 2013-14 & 2014- 15. Ita Nos.1649/Bang/2017 & 730 & 731/Bang/2018 Page 2 Of 16 2. As Far As Ground No.2 In Respect Of Disallowance Of Proportionate Interest U/S 24(B) Of The Income-Tax Act,1961 ['The Act' For Short], The Assessee Has Raised Similar Grounds Of Appeal For Assessment Years 2012-13, 2013-13 & 2014-15. Similarly, For The Assessment Year 2012-13, The Assessee Has Raised An Alternative Plea To Allow Interest U/S 36(1)(Iii) Which Is Also Ground Of Appeal In Assessment Years 2013-14 & 2014-15. For The Assessment Year 2012-13, The Assessee Raised Ground For Allowance Of Deduction Towards Processing Fees & Pre-Payment Charges U/S 24(B) Of The Act. For The Assessment Year 2013-14, The Assessee Has Raised A Ground For Disallowance Of Rs.25,77,78/- Under The Provisions Of Section 14A Of The Act.

House Property', erred in disallowing the interest on capital borrowed and used for acquiring the said building complex. 2.7. The Learned Commissioner (Appeals) and Learned Assessing Officer having allowed interest in respect of Rs. 45 Crores which was utilised towards re-payment of old loan, have erred in disallowing interest in respect of balance Rs. 19.50 Crores which was utilised

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

SREENIVASULU SAGALETI,BENGALURU vs. INCOME TAX OFFICER, WARD-2(2)(2), BENGALURU

In the result, appeal filed by the assessee is allowed

Bench: Shri. Laxmi Prasad Sahuandshri.Keshav Dubeyassessment Year :2018-19

property on 14.06.2017, the net consideration from the sale was not utilized towards acquisition or construction of a new residential house as provided in section 54F(1) of the Act by the by the date of filing of return of income. Accordingly, assessee was required under section 54F(4) of the Act to deposit the unutilised net consideration

G CORP PRIVATE LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME-TAX 3(1)(2), BANGALORE

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

138 in the case of CIT vs.\nShankaranarayana Hotels (P.) Ltd. wherein it was held that the composite\nrent received by the assessee could be split up into the amount attributable\nto property under the head income from house property and the amount\nattributable to amenities under the head income from other sources. We\nhave also perused the order

SRI. B.V. RAVIKUMAR,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-6(3)(1), BENGALURU

Bench: Smt. Beena Pillai & Ms. Padmavathy S

section 234 A, 234 B and 234 C of the Act is also bad in law as the period, rate, quantum and method of calculation adopted by the learned assessing officer on which interest is levied are not discernible and are wrong on the facts of the case. ITA Nos.137 & 138/B/2022 Page 10 of 31 11. The Appellant craves leave

SRI. B.V. RAVIKUMAR,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-6(3)(1), BANGALORE

Bench: Smt. Beena Pillai & Ms. Padmavathy S

section 234 A, 234 B and 234 C of the Act is also bad in law as the period, rate, quantum and method of calculation adopted by the learned assessing officer on which interest is levied are not discernible and are wrong on the facts of the case. ITA Nos.137 & 138/B/2022 Page 10 of 31 11. The Appellant craves leave

SMT. K.R. GEETHA,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 6(3)(1), BENGALURU

Bench: Smt. Beena Pillai & Ms. Padmavathy S

section 234 A, 234 B and 234 C of the Act is also bad in law as the period, rate, quantum and method of calculation adopted by the learned assessing officer on which interest is levied are not discernible and are wrong on the facts of the case. ITA Nos.137 & 138/B/2022 Page 10 of 31 11. The Appellant craves leave

SMT. K.R. GEETHA,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 6(3)(1), BENGALURU

Bench: Smt. Beena Pillai & Ms. Padmavathy S

section 234 A, 234 B and 234 C of the Act is also bad in law as the period, rate, quantum and method of calculation adopted by the learned assessing officer on which interest is levied are not discernible and are wrong on the facts of the case. ITA Nos.137 & 138/B/2022 Page 10 of 31 11. The Appellant craves leave

SAPNA HEMANSHU SHAH ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(2)(1), BANGALORE

In the result, appeal of the assessee is partly allowed

Bench: Shri George George Kshri Laxmi Prasad Sahuassessment Year : 2013-14

section 54 in respect of expenditure on interiors of new residential house property amounting to Rs.8,65,641/-.” 2. The brief facts of the case are that the assessee filed return of income on 22/07/2013 declaring income of Rs.5,49,610/-. The case was selected for scrutiny and statutory notices were issued to the assessee. The assessee submitted reply

M/S. VEERABHADRAPPA SANGAPPA & COMPANY,SANDUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1, BELLARY

In the result appeal filed by assessee stands partly allowed

Bench: Shri. B. R. Baskaran & Smt. Beena Pillaiassessment Year : 2013–14

property in the goods transferred from the buyer to the seller for a price and further the seller retains no effective control of the goods so transferred. In present facts, iron ore stood transferred to the buyers as on the date of sale through E auction by MC. We note that assessee was aware about the amount to be received

SRI. VENKATESWARA DEVELOPERS,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 7(2)(1), BENGALURU

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

Bench: Shri Chandra Poojari & Shri George George K.

house property and other sources and the return for AY 2014-15 was selected for scrutiny under CASS. The AO sought explanation from the assessee as to why the interest of Rs 2,03,06,884/- received from fixed deposit with Canara Bank has not been considered while computing taxable income. The assessee explained that the source

SRI VENKATESWARA DEVELOPERS,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 7(2)(1), BANGALORE

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

Bench: Shri Chandra Poojari & Shri George George K.

house property and other sources and the return for AY 2014-15 was selected for scrutiny under CASS. The AO sought explanation from the assessee as to why the interest of Rs 2,03,06,884/- received from fixed deposit with Canara Bank has not been considered while computing taxable income. The assessee explained that the source

SHRI. KEMPAREDDY GOVINDRAJ,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3) , BENGALURU

In the result the appeals of the assessee in ITA No’s 1022 to\n1024/ Bang/ 2024, for the

section shall not be disclosed to any person\nor any authority or the Appellate Tribunal.”\n\nIn view of the above explanation the appellant cannot raise the ground of validity and legality\nof the search operation before the present Hon’ble Tribunal since the appellate Tribunal is not the\n\nITA Nos.1021 to 1024/Bang/2024\nITA Nos.1290 to 1292/Bang/2024\nPage

ARADHYA STEEL WIRES PVT LTD.,,DAVANGERE vs. DCIT, DAVANGERE

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boazthe Asst. Commissioner Of Income-Tax, Circle-1(2)(1), Bengaluru. . Appellant Vs. Shri Dilip Ranjrekar, No.6B, Nitesh Mayfair, 31, Kasturba Road Cross, Bengaluru. . Respondent Pan No. – Aanpr4015M.

sections are to be construed liberally and the assessee having done whatever was legally required of him was entitled to exemption u/s 54 of the Act. ITA No.858/B/16 & CO 28/B/17 25 7.3 The ld DR for Revenue was heard in support of the grounds raised (Supra). According to the ld DR since the construction of the new house

ACIT, BANGALORE vs. SHRI. DILIP RANJREKAR, BANGALORE

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boazthe Asst. Commissioner Of Income-Tax, Circle-1(2)(1), Bengaluru. . Appellant Vs. Shri Dilip Ranjrekar, No.6B, Nitesh Mayfair, 31, Kasturba Road Cross, Bengaluru. . Respondent Pan No. – Aanpr4015M.

sections are to be construed liberally and the assessee having done whatever was legally required of him was entitled to exemption u/s 54 of the Act. ITA No.858/B/16 & CO 28/B/17 25 7.3 The ld DR for Revenue was heard in support of the grounds raised (Supra). According to the ld DR since the construction of the new house

IBM CANADA LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, INTERNATIONAL TAXATION, CIRCLE-1(2), BANGALORE

In the result, all the appeals of the assessees are allowed

138\ntaxmann.com 359. Hence, ld. A.Rs submitted that as of the today,\nthe issue of secondment of employees are not taxable.\n4.5.3 However, the foreign entities considering the prolonged\nlitigation with income tax department and for administrative reasons\npaid the tax merely to buy peace. Hence, although the taxes were not\npaid during the filing of return

ASSISTANT COMMISSIONER OF INCOME TAX, (EXEMPTIONS), CIRCLE-1, MANGALURU vs. M/S MANIPAL ACADEMY OF HIGHER EDUCATION, MANIPAL

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

Bench: Shri N.V. Vasudevan, Vice- & Shri Arun Kumar Garodiaassessment Year : 2013-14

138/ 2015 11.06.2015 Milagres Church Krupanidhi Education Trust Vs DIT ( E) 495/ 2014 20.02.2015 5.2.3 In view of the binding decisions of the Hon'ble High Court of Karnataka and the Hon'bleITAT, Bangalore, I hereby direct the AO to allow appellant's claim of depreciation amounting to Rs.95,37,11,460/-on fixed assets during the year as application