SRI PRAKASH BHAJANDAS TALREJA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BENGALURU

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are partly allowed and ITA No

Bench: Shri Chandra Poojari & Smt. Beena Pillaiita Nos.1061 To 1066/Bang/2023 Assessment Years: 2014-15, 2015-16, 2016-17, 2016-17, 2017-18 & 2018-19 Sri Prakash Bhajandas Talreja No.402, 4Th Floor, Embassy Centre No.11, Crescent Road Dcit Bengaluru 560 001 Vs. Central Circle-1(3) Karnataka Bengaluru Pan No : Abkpt1011B Assessee Respondent Assessee By : Shri V. Srinivasan, A.R. Respondent By : Shri G. Manoj Kumar, D.R. Date Of Hearing : 01.02.2024 Date Of Pronouncement : 22.03.2024 O R D E R Per Chandra Poojari: The Appeals In Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 Are Emanated From The Common Order Of Cit(A) Central Circle, Bengaluru For The Assessment Years 2014-15 To 2018-19 Dated 16.11.2023. Ita No.1064/Bang/2023 Is Emanated From The Order Of Cit(A) Dated 11.8.2023 For The Assessment Year 2016-17 With Regard To Levy Of Penalty U/S 271Aab Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issue In All These Appeals Is Common In Nature, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience. 2. First, We Will Take Up Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 For Adjudication. The Common Ground In All These Appeals Except Change In Figures, Which Reads As Under:

section 153A, then such seized material is to be handed over to the assessing officer of the other person to initiate assessment or Page 39 of 121 ITA Nos.1061 to 1066/Bang/2023 Sri Prakash Bhajandas Talreja, Bangalore reassessment proceedings in case of such other person. The expression used is "belongs to or.......pertains to or.........relates to the other person." Therefore

SRI PRAKASH BHAJANDAS TALREJA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(3), BENGALURU

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are partly allowed and ITA No

Bench: Shri Chandra Poojari & Smt. Beena Pillaiita Nos.1061 To 1066/Bang/2023 Assessment Years: 2014-15, 2015-16, 2016-17, 2016-17, 2017-18 & 2018-19 Sri Prakash Bhajandas Talreja No.402, 4Th Floor, Embassy Centre No.11, Crescent Road Dcit Bengaluru 560 001 Vs. Central Circle-1(3) Karnataka Bengaluru Pan No : Abkpt1011B Assessee Respondent Assessee By : Shri V. Srinivasan, A.R. Respondent By : Shri G. Manoj Kumar, D.R. Date Of Hearing : 01.02.2024 Date Of Pronouncement : 22.03.2024 O R D E R Per Chandra Poojari: The Appeals In Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 Are Emanated From The Common Order Of Cit(A) Central Circle, Bengaluru For The Assessment Years 2014-15 To 2018-19 Dated 16.11.2023. Ita No.1064/Bang/2023 Is Emanated From The Order Of Cit(A) Dated 11.8.2023 For The Assessment Year 2016-17 With Regard To Levy Of Penalty U/S 271Aab Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issue In All These Appeals Is Common In Nature, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience. 2. First, We Will Take Up Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 For Adjudication. The Common Ground In All These Appeals Except Change In Figures, Which Reads As Under:

section 153A, then such seized material is to be handed over to the assessing officer of the other person to initiate assessment or Page 39 of 121 ITA Nos.1061 to 1066/Bang/2023 Sri Prakash Bhajandas Talreja, Bangalore reassessment proceedings in case of such other person. The expression used is "belongs to or.......pertains to or.........relates to the other person." Therefore

SRI PRAKASH BHAJANDAS TALREJA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BENGALURU

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are partly allowed and ITA No

Bench: Shri Chandra Poojari & Smt. Beena Pillaiita Nos.1061 To 1066/Bang/2023 Assessment Years: 2014-15, 2015-16, 2016-17, 2016-17, 2017-18 & 2018-19 Sri Prakash Bhajandas Talreja No.402, 4Th Floor, Embassy Centre No.11, Crescent Road Dcit Bengaluru 560 001 Vs. Central Circle-1(3) Karnataka Bengaluru Pan No : Abkpt1011B Assessee Respondent Assessee By : Shri V. Srinivasan, A.R. Respondent By : Shri G. Manoj Kumar, D.R. Date Of Hearing : 01.02.2024 Date Of Pronouncement : 22.03.2024 O R D E R Per Chandra Poojari: The Appeals In Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 Are Emanated From The Common Order Of Cit(A) Central Circle, Bengaluru For The Assessment Years 2014-15 To 2018-19 Dated 16.11.2023. Ita No.1064/Bang/2023 Is Emanated From The Order Of Cit(A) Dated 11.8.2023 For The Assessment Year 2016-17 With Regard To Levy Of Penalty U/S 271Aab Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issue In All These Appeals Is Common In Nature, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience. 2. First, We Will Take Up Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 For Adjudication. The Common Ground In All These Appeals Except Change In Figures, Which Reads As Under:

section 153A, then such seized material is to be handed over to the assessing officer of the other person to initiate assessment or Page 39 of 121 ITA Nos.1061 to 1066/Bang/2023 Sri Prakash Bhajandas Talreja, Bangalore reassessment proceedings in case of such other person. The expression used is "belongs to or.......pertains to or.........relates to the other person." Therefore

SHRI. NAGARAJ VINAYAK JOSHI,KARAWAR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) , BENGALURU

In the result, appeal filed by the assessee is allowed

Bench: Shri George George K & Shri Laxmi Prasad Sahu

Property’, ‘Income from Business and Profession’ and ‘Income from Other Sources’. There was a survey conducted in the clinic of the assessee under section 133A of the Act on 16.11.2017. During the course of survey, certain books of accounts and documents were impounded. Statement of the assessee was also recorded. Thereafter, statement under section 131 of the Act was recorded

SHRI. NAGARAJ VINAYAK JOSHI,KARAWAR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) , BENGALURU

In the result, appeal filed by the assessee is allowed

Bench: Shri George George K & Shri Laxmi Prasad Sahu

Property’, ‘Income from Business and Profession’ and ‘Income from Other Sources’. There was a survey conducted in the clinic of the assessee under section 133A of the Act on 16.11.2017. During the course of survey, certain books of accounts and documents were impounded. Statement of the assessee was also recorded. Thereafter, statement under section 131 of the Act was recorded

SRI. GIREESHSHASTRI SHANKARSHASTRI JEERE ,GAJENDRAGAD vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), BANGALORE

In the result, appeal filed by the assessee is allowed

Bench: Shri Chandra Poojari & Shri George George Kassessment Year : 2018-19 Shri Gireeshshastri Shankarshastri Jeere, The Principal Commissioner Of Prop : Fakeeresh Fuels, Income Tax (Central), Kustagi Road, Main Road, Vs. Bengaluru. Gajendragad – 582 114. Pan : Agupj 2460 M Appellant Respondent Assessee By : Shri. R. Chandrashekar, Advocate Revenue By : Shri. D. K. Mishra, Cit (Dr)(Itat), Bengaluru. Date Of Hearing : 15.06.2023 Date Of Pronouncement : 16.06.2023

Property’, ‘Income from Business and Profession’ and ‘Income from Other Sources’. There was a survey conducted in the clinic of the assessee under section 133A of the Act on 16.11.2017. During the course of survey, certain books of accounts and documents were impounded. Statement of the assessee was also recorded. Thereafter, statement under section 131 of the Act was recorded

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE, BALLARI vs. SHRI. SRIPAL DEVICHAND JAIN, KALABURAGI

In the result, the appeal by the revenue is dismissed and CO by the assessee is partly allowed

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2021-22

house property and other sources. 7. During the impugned assessment year, the Deputy Superintendent of Police, City Division, Davangere had intercepted a vehicle bearing registration No. KA-39/P-8055 at Jagalur bus stand, Davangere on 05.02.2021 and on inspection of the vehicle they found that three persons were carrying cash of Rs. 1,48,00,000/- from Gulbarga to Davangere

SRI PRAKASH BHAJANDAS TALREJA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BENGALURU

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are\npartly allowed and ITA No

House Property and Other Sources. Such\nincome was the same as that which was declared in the original return of income\nfiled u/s 139 of the Act on 13.09.2014 and revised return of income filed on\n26.09.2016. During the course of search proceedings at the residence of\nShri K M Deekshith at the office of M/s Coffee Day Global Limited

SANDEEP REDDY YARABAKA CHENCHU,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

In the result, appeal of the assessee is allowed

Bench: Shri George George K. & Shri Chandra Poojariassessment Year: 2017-18

sections 234B and 234C of the Act amounting to Rs. 6,08,814 and the appellant denies its liability to pay such interest.” 2. Ground No.1 is too general in nature, which does not require any adjudication. 3. The crux of ground Nos.2 to 5 is with regard to sustaining addition of Rs.23

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

R V DESHPANDE HUF,BANGALORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, BANGALORE-1, BANGALORE

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

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy Sassessment Year : 2017-18

House or term owning and Assessment Date of Short Property SI. profession capital maintaining year filing term No. Loss loss loss race horses (DD/MM/Y capital

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

SRI MOHAN PURI ,BANGALORE vs. INCOME TAX OFFICER WARD-7(2)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

section 54 in respect of essential modifications made to the new asset purchased without appreciating the fact that the appellant had furnished full details of the expenditure incurred in respect of the same. The appellant prays for leave to add, delete, modify and / or adduce additional ground at any time before the appeal is disposed off. 3 Late Mohan Puri

M/S. GLOBAL STAR REALTORS PRIVATE LIMITED,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALURU

In the result, all the appeals of the assessee are partly\nallowed

property purchased on 05-09-2012 for\nconsideration of Rs.6,62,20,000/- and a copy of same was\nimpounded and marked as “A/PIPL/4" and the share of\nthe same extends to Rs.3,31,10,000/- to Mr. Rajendra\nKumar.\nb) Ventura Land: Jointly purchased with the assessee's share\nat Rs.1,75,00,000/-\nc) Premero Land: Jointly purchased

M/S. GLOBAL STAR REALTORS PRIVATE LIMITED ,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALURU

In the result, all the appeals of the assessee are partly\nallowed

property purchased on 05-09-2012 for\nconsideration of Rs.6,62,20,000/- and a copy of same was\nimpounded and marked as “A/PIPL/4" and the share of\nthe same extends to Rs.3,31,10,000/- to Mr. Rajendra\nKumar.\nb) Ventura Land: Jointly purchased with the assessee's share\nat Rs.1,75,00,000/-\nc) Premero Land: Jointly purchased

M/S. GLOBAL STAR REALTORS PRIVATE LIMITED,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALURU

In the result, all the appeals of the assessee are partly\nallowed

property purchased on 05-09-2012 for\nconsideration of Rs.6,62,20,000/- and a copy of same was\nimpounded and marked as “A/PIPL/4\" and the share of\nthe same extends to Rs.3,31,10,000/- to Mr. Rajendra\nKumar.\nb) Ventura Land: Jointly purchased with the assessee's share\nat Rs.1,75,00,000/-\nc) Premero Land: Jointly purchased

M/S. GLOBAL STAR REALTORS PRIVATE LIMITED,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly\nallowed

property purchased on 05-09-2012 for\nconsideration of Rs.6,62,20,000/- and a copy of same was\nimpounded and marked as “A/PIPL/4\" and the share of\nthe same extends to Rs.3,31,10,000/- to Mr. Rajendra\nKumar.\nb) Ventura Land: Jointly purchased with the assessee's share\nat Rs.1,75,00,000/-\nc) Premero Land: Jointly purchased

M/S. GLOBAL STAR REALTORS PRIVATE LIMITED ,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALURU

In the result, all the appeals of the assessee are partly\nallowed

property purchased on 05-09-2012 for\nconsideration of Rs.6,62,20,000/- and a copy of same was\nimpounded and marked as “A/PIPL/4\" and the share of\nthe same extends to Rs.3,31,10,000/- to Mr. Rajendra\nKumar.\nb) Ventura Land: Jointly purchased with the assessee's share\nat Rs.1,75,00,000/-\nc) Premero Land: Jointly purchased