ARUN DURAISWAMY,MYSORE, KARNATAKA vs. ITO, INTL. TAXATION WARD 1(1), BANGALORE

In the result the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

housing loan from HDFC Bank to the extent of Rs.55,00,000/-. The statement of HDFC Loan account was also submitted before the AO and as well as DRP. Further, with regard to balance of funding to the extent of Rs.14,00,000/- for the property, the assessee explained as below- 1. Rs.5,00,000/- was paid through vide

DIVYA DINESH ,BENGALURU vs. DCIT, CIRCLE-7(1)(1), BANGALORE

In the result appeal of the assessee is allowed

House property\nRs. 4,19,043/-\nB. Business Income\nRs. 4,50,000/-\nC. Short term capital gain taxable at normal rate\nRs. 58,95,682/-\n(Rs. 63,96,143 minus brought forward loss of Rs. 5,00,461)\nD. Interest Income\nRs. 1,16,275/-\nTotal (A+B+C+D)\nRs. 68,81,000/-\n4.2 Further, the assessee

M/S. TRISHUL BUILDTECH & INFRASTRUCTURES PVT. LTD.,,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, assessee’s appeals are partly allowed

Bench: Shri Chandra Poojari & Shri George George K.

154 of the Act for the assessment year 2018-19. The income of the assessee was assessed as under - Particulars AY 2016-17 AY 2017-18 AY 2018-19 Returned income Nil (55,90,47,243) (12,59,36,710) Add: Addition made 39,83,94,525 201,74,10,242 108,59,10,257 under the head income from

M/S. TRISHUL BUILDTECH & INFRASTRUCTURES PVT. LTD.,,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, assessee’s appeals are partly allowed

Bench: Shri Chandra Poojari & Shri George George K.

154 of the Act for the assessment year 2018-19. The income of the assessee was assessed as under - Particulars AY 2016-17 AY 2017-18 AY 2018-19 Returned income Nil (55,90,47,243) (12,59,36,710) Add: Addition made 39,83,94,525 201,74,10,242 108,59,10,257 under the head income from

M/S. TRISHUL BUILDTECH & INFRASTRUCTURES PVT. LTD.,,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, assessee’s appeals are partly allowed

Bench: Shri Chandra Poojari & Shri George George K.

154 of the Act for the assessment year 2018-19. The income of the assessee was assessed as under - Particulars AY 2016-17 AY 2017-18 AY 2018-19 Returned income Nil (55,90,47,243) (12,59,36,710) Add: Addition made 39,83,94,525 201,74,10,242 108,59,10,257 under the head income from

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

In the result, we allow appeal filed by the assessee

Housing Ltd Vs. ITO, 45 taxmann.com 144 (Kar). The\nlearned Standing Council for the Revenue submitted that in this case\nthe Jurisdictional Karnataka High Court held that the provisions of\nsection 158BD does not preclude the AO from initiating action under\nsection 147 to bring to tax material found in a search.\nThe learned AR contented that this case

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

Housing Ltd Vs. ITO, 45 taxmann.com 144 (Kar). The\nlearned Standing Council for the Revenue submitted that in this case\nthe Jurisdictional Karnataka High Court held that the provisions of\nsection 158BD does not preclude the AO from initiating action under\nsection 147 to bring to tax material found in a search.\nThe learned AR contented that this case

MR. D K SHIVAKUMAR,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

In the result, we allow appeal filed by the assessee

Housing Ltd Vs. ITO, 45 taxmann.com 144 (Kar). The\nlearned Standing Council for the Revenue submitted that in this case\nthe Jurisdictional Karnataka High Court held that the provisions of\nsection 158BD does not preclude the AO from initiating action under\nsection 147 to bring to tax material found in a search.\nThe learned AR contented that this case

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

In the result, we allow appeal filed by the assessee

Housing Ltd Vs. ITO, 45 taxmann.com 144 (Kar). The\nlearned Standing Council for the Revenue submitted that in this case\nthe Jurisdictional Karnataka High Court held that the provisions of\nsection 158BD does not preclude the AO from initiating action under\nsection 147 to bring to tax material found in a search.\nThe learned AR contented that this case

DIVYA DINESH ,BENGALURU vs. DCIT, CIRCLE-7(1)(1), BANGALORE

In the result appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

House property Rs. 4,19,043/- B. Business Income Rs. 4,50,000/- C. Short term capital gain taxable at normal rate Rs. 58,95,682/- (Rs. 63,96,143 minus brought forward loss of Rs. 5,00,461) D. Interest Income Rs. 1,16,275/- Total (A+B+C+D) Rs. 68,81,000/- 4.2 Further, the assessee against

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

154 Taxman 399/287 ITR 271 (Mad.) -The deduction under section 54 was allowed where the new residential property was purchased in the name of the wife of the assessee. (b) DIT, International Taxation v. Mrs. Jennifer Bhide [2011] 15 taxmann.com 82/203 Taxman 208/[2012] 349 ITR 80 (Kar.) – The Tribunal has allowed exemption u/s 54 for investment in residential property

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

Housing Ltd Vs. ITO, 45 taxmann.com 144 (Kar). The\nlearned Standing Council for the Revenue submitted that in this case\nthe Jurisdictional Karnataka High Court held that the provisions of\nsection 158BD does not preclude the AO from initiating action under\nsection 147 to bring to tax material found in a search.\nThe learned AR contented that this case

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.

154/- being cost of acquisition of residential property on Site No. 839/21, 37th F Cross, 4th T Block, Jayanagar, Bangalore – 560 011 on 10.2.2011 for an amount of Rs. 1,52,02,905/- and construction of residential house on the same property value of Rs. 3,12,13,249/-. 2.1 The Ld.AO observed that assessee also constructed a residential house

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

House, ACIT M.S. Ramaiah Main Road Vs. Central Circle-2(1) Mathikere Bangalore Bangalore 560 054 APPELLANT RESPONDENT Appellant by : Shri H. Nagin Khincha & Smt. Suman Lunkar, A.Rs Respondent by : Shri M. Mathivanan, D.R. Date of Hearing 04 07 2022 & 03 11 2022 Date of Pronouncement 07 11 2022 ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah

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

House, ACIT M.S. Ramaiah Main Road Vs. Central Circle-2(1) Mathikere Bangalore Bangalore 560 054 APPELLANT RESPONDENT Appellant by : Shri H. Nagin Khincha & Smt. Suman Lunkar, A.Rs Respondent by : Shri M. Mathivanan, D.R. Date of Hearing 04 07 2022 & 03 11 2022 Date of Pronouncement 07 11 2022 ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah

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

House, ACIT M.S. Ramaiah Main Road Vs. Central Circle-2(1) Mathikere Bangalore Bangalore 560 054 APPELLANT RESPONDENT Appellant by : Shri H. Nagin Khincha & Smt. Suman Lunkar, A.Rs Respondent by : Shri M. Mathivanan, D.R. Date of Hearing 04 07 2022 & 03 11 2022 Date of Pronouncement 07 11 2022 ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), QUEENS ROAD, BENGALURU vs. SHRI KEMPAREDDY GOVINDRAJU, DOMLUR, BENGALURU

section\n153A of the Act since no incriminating documents were found for the\nimpugned Assessment Year 2013-14. The documents found and\nmarked as A/KG/10 is only an affidavit filed before the Returning\nOfficer and the very basis for making addition by the AO is\ninformation received from Lokayukta under section 133(6) of the Act\nby the AO. During

INCOME TAX OFFICER, W-1, HASSAN vs. RAMACHANDRA SETTY & SONS, HASSAN

In the result, appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri Keshav Dubey

Housing Development Company Vs. DCIT (274 CTR 122), wherein held as follows:- “10. Section 153A of the Act starts with a non obstante clause. The fetters imposed upon the Assessing Officer by the strict procedure to assume jurisdiction to reopen the assessment under Sections 147 and 148, have been removed by the non obstante clause with which sub-section (1

INCOME TAX OFFICER, W-1, VIJAYANAGAR vs. RAMACHANDRA SETTY AND SONS, HASSAN

In the result, appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri Keshav Dubey

Housing Development Company Vs. DCIT (274 CTR 122), wherein held as follows:- “10. Section 153A of the Act starts with a non obstante clause. The fetters imposed upon the Assessing Officer by the strict procedure to assume jurisdiction to reopen the assessment under Sections 147 and 148, have been removed by the non obstante clause with which sub-section (1