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

INSTAKART SERVICES PRIVATE LIMITED,BANGALORE vs. ACIT, SPECIAL RANGE-3, BANGALORE

In the result appeal of the Revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

145(3) of the Act. No specific defects have been pointed out in the books, nor has . ITA No.330,331,496,543 &544/Bang/2024 S.A No.25/Bang/2025 Page 19 of 46 there been any finding of inflation of expenses, suppression of sales, or violation of section 40A(2) of the Act. In such a situation, as laid down

AZIM HASHAM PREMJI ,BANGALORE vs. DCIT, CIRCLE-7(1)(1), BANGALORE

In the result, both the appeals filed by the assessee are allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

section 23(1)(c) would apply to the facts of the present case and prayed to allow the appeals. 6. The Ld.DR relied on the orders of the lower authorities and prayed to dismiss the appeals filed by the assessee. Page 4 of 6 ITA Nos. 1322 & 1323/Bang/2025 7. We have heard the arguments of both sides and perused

AZIM HASHAM PREMJI,BANGALORE vs. DCIT, CIRCLE-7(1)(1), BANGALORE

In the result, both the appeals filed by the assessee are allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

section 23(1)(c) would apply to the facts of the present case and prayed to allow the appeals. 6. The Ld.DR relied on the orders of the lower authorities and prayed to dismiss the appeals filed by the assessee. Page 4 of 6 ITA Nos. 1322 & 1323/Bang/2025 7. We have heard the arguments of both sides and perused

DCIT, CC-1(4), BENGALURU, BENGALURU vs. INSTAKART SERVICES PVT LTD, BENGALURU

In the result, the stay application dismissed as infructuous

145(3) of the\nAct. No specific defects have been pointed out in the books, nor has\nthere been any finding of inflation of expenses, suppression of sales, or\nviolation of section 40A(2) of the Act. In such a situation, as laid down\nby the Hon'ble Supreme Court in CIT v. A. Raman

INSTAKART SERVICES PRIVATE LIMITED ,BENGALURU vs. ACIT, CENTRAL CIRCLE-1(4), BENGALURU

In the result, the stay application dismissed as infructuous

145(3) of the\nAct. No specific defects have been pointed out in the books, nor has\nthere been any finding of inflation of expenses, suppression of sales, or\nviolation of section 40A(2) of the Act. In such a situation, as laid down\nby the Hon'ble Supreme Court in CIT v. A. Raman

DCIT CC -1(4), BENGALURU, BENGALURU vs. INSTAKART SERVICES PVT LTD, BENGALURU

145(3) of the\nAct. No specific defects have been pointed out in the books, nor has\n\nthere been any finding of inflation of expenses, suppression of sales, or\nviolation of section 40A(2) of the Act. In such a situation, as laid down\nby the Hon'ble Supreme Court in CIT v. A. Raman

INSTAKART SERVICES PRIVATE LIMITED,BANGALORE vs. JCIT, SPECIAL RANG-3, BANGALORE

Appeals of the revenue are dismissed

145(3) of the\nAct. No specific defects have been pointed out in the books, nor has\n\nthere been any finding of inflation of expenses, suppression of sales, or\nviolation of section 40A(2) of the Act. In such a situation, as laid down\nby the Hon'ble Supreme Court in CIT v. A. Raman

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, all the appeals filed by the assessee are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Housing (P) Ltd. v. DCIT (2 SOT 395); (Bangalore) d. ITAT in HM Construction v, JCIT (84 LTD 429). (Bangalore) AS 9 principles not satisfied in the assessee’s case in the relevant years 18. The ld.AR submitted that - (a) It is well known that as per section 145 of the Income- tax Act, 1961 ('ITA') it is the choice

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, all the appeals filed by the assessee are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Housing (P) Ltd. v. DCIT (2 SOT 395); (Bangalore) d. ITAT in HM Construction v, JCIT (84 LTD 429). (Bangalore) AS 9 principles not satisfied in the assessee’s case in the relevant years 18. The ld.AR submitted that - (a) It is well known that as per section 145 of the Income- tax Act, 1961 ('ITA') it is the choice

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, all the appeals filed by the assessee are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Housing (P) Ltd. v. DCIT (2 SOT 395); (Bangalore) d. ITAT in HM Construction v, JCIT (84 LTD 429). (Bangalore) AS 9 principles not satisfied in the assessee’s case in the relevant years 18. The ld.AR submitted that - (a) It is well known that as per section 145 of the Income- tax Act, 1961 ('ITA') it is the choice

DEPUTY COMMISSIONER OF INCOME TAX, BENGALURU vs. FLIPKART INDIA PVT LTD, BENGALURU

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

house property, Profits and gains of business or profession, Capital gains and Income from other sources. Sec. 28 of the Act lays down various categories of income that shall be chargeable to income-tax under the head "Profits and gains of business or profession". The income of ITA Nos.1394 & 1395/Bang/2025 Page 10 of 26 the Assessee in the present case

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BENGALURU vs. FLIPKART INDIA PVT LTD, BENGALURU

In the result, both the appeals filed by the Revenue are dismissed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

house property, Profits and gains of business or profession, Capital gains and Income from other sources. Sec. 28 of the Act lays down various categories of income that shall be chargeable to income-tax under the head "Profits and gains of business or profession". The income of ITA Nos.1394 & 1395/Bang/2025 Page 10 of 26 the Assessee in the present case

M/S. FLIPKART INDIA PVT. LTD.,BANGALORE vs. ACIT, SPECIAL RANGE-3, BANGALORE

In the result, appeal of the assessee is allowed and appeal of revenue is dismissed

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2017-18

house property, Profits and gains of business or profession, Capital gains and Income from other sources. Sec.28 of the Act lays down various categories of income that shall be chargeable to income-tax under the head "Profits and gains of business or profession". The income of the Assessee in the present case would fall within Sec.28

DCIT, CENTRAL CIRCLE-1(4), BENGALURU vs. M/S. FLIPKART INDIA PVT LTD., BENGALURU

In the result, appeal of the assessee is allowed and appeal of revenue is dismissed

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2017-18

house property, Profits and gains of business or profession, Capital gains and Income from other sources. Sec.28 of the Act lays down various categories of income that shall be chargeable to income-tax under the head "Profits and gains of business or profession". The income of the Assessee in the present case would fall within Sec.28

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

145(2), the assessee has to follow the principles laid down in the 1GDS. 5.2 Further, the ld. A.R. submitted that in case of the assessee, as it is a company, it has to mandatorily follow Accounting Standard for preparations of its accounts under the Companies Act, 2013 and follow the ICDS for computation of its income and the same

M/S INFOSYS LTD ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3(1)(1), BANGALORE

In the result, the appeals filed by the assessee and revenue stands partly allowed as indicated hereinabove

Bench: Shri Chandra Poojaria & Smt. Beena Pillai

145. For valuing the closing stock at the end of a particular year, the value prevailing on the last date is relevant. This is because profits/loss is embedded in the closing stock. While anticipated loss is taken into account, anticipated profit in the shape of appreciated value of the closing stock is not brought into account, as no prudent trader

INFOSYS LTD.,,BANGALORE vs. DCIT, BANGALORE

In the result, the appeals filed by the assessee and revenue stands partly allowed as indicated hereinabove

Bench: Shri Chandra Poojaria & Smt. Beena Pillai

145. For valuing the closing stock at the end of a particular year, the value prevailing on the last date is relevant. This is because profits/loss is embedded in the closing stock. While anticipated loss is taken into account, anticipated profit in the shape of appreciated value of the closing stock is not brought into account, as no prudent trader