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

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

Section 54 of the Act on the basis of purchase of house property on 22.03.2018 i.e. after the assessment had been passed by the AO and also after a period of three years from the date of sale of the original asset (the original asset being sold on 23.04.2014 08.09.2014, 30.10.2014, 14.11.2014 and 24.11.2014)'. So vide the additional evidence

M/S. DEEPALI COMPANY PRIVAE LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD- 2(1)(2), BANGALORE

In the result, the appeal filed by assessee stands dismissed

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2016-17 M/S. C. Krishniah Chetty & Co. Pvt. Ltd., The Income Tax (Earlier Known As :Deepali Co. Officer, Pvt. Ltd.) Ward – 2 (1)(2), 35, Commercial Street, Bangalore. Bangalore – 560 001. Vs. Pan: Aaacd5120H Appellant Respondent : Shri Narendra Sharma, Assessee By Advocate : Smt. Priyadarshini Revenue By Basaganni, Addl. Cit (Dr) Date Of Hearing : 01-06-2022 Date Of Pronouncement : 21-06-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 03.0.2020 Passed By Ld.Cit(A)-2, Bangalore For A.Y. 2016-17 On The Following Grounds Of Appeal: “1.1 On The Facts & Circumstances Of The Case, The Learned Commissioner Of Income Tax Erred In Not Allowing Business Loss For The Year Of Rs. 114,66.766/- On The Ground That The Business Of The Assessee Company Is Closed & There Are No Receipts From Operation Of Business.

35, Commercial Street, Bangalore. Bangalore – 560 001. Vs. PAN: AAACD5120H APPELLANT RESPONDENT : Shri Narendra Sharma, Assessee by Advocate : Smt. Priyadarshini Revenue by Basaganni, Addl. CIT (DR) Date of Hearing : 01-06-2022 Date of Pronouncement : 21-06-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal is filed by assessee against order dated 03.0.2020 passed by Ld.CIT(A)-2, Bangalore

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 property in Delhi on 07/09/2015 for a consideration of Rs.70,00,000/- which was originally purchased on 04/06/2007 for a consideration of Rs.17,00,000/-, the index cost of acquisition being worked out to Rs.33,35,209/-. The AO observed that the assessee had also claimed deduction u/s. 54 of the Act amounting to Rs.36

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, HUBBALLI, HUBBALLI vs. SMT. SHEELA PRASANNAKUMAR , CHITRADURGA

In the result, the appeals of the Revenue are dismissed

35 and\nsection 37 of the Wealth-tax Act. 1957 (27 of 1957). shall, with\nnecessary modifications, apply in relation to such reference as they\napply in relation to a reference made by the Assessing Officer under\nsub-section (1) of section 16/1 of that Act.-\n5.3 Therefore, it is quite clear that upon receipt of objection from the\nappellant

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 4(2)(1), BANGALORE vs. M/S. N G BALU REDDY HUF, BANGALORE

In the result, the appeal of the Revenue is allowed

Bench: Shri Chandra Poojari & Shri George George Kassessment Year : 2009-10

section 147, of the LT Act, on 08.03.20 13 in the case of HUF for the assessment year 2009-10 on the basis of submission furnished by G.Anitha (Individual) during the re-opened assessment proceedings for the assessment year 2005-06 on 17.0 1.2013 stating that the property in question is HUF property of N.G.Balu Reddy". 2. On the facts

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 because income has been correctly offered by the Assessee under the head business income. Accordingly, ground no. 19 of the Assessee is allowed. 18. The Ground no. 20 of the Appeal is with respect to the correct carry forward of losses. The Assessee has computed the carry forward of the losses

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

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

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

M/S. WIPRO LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranit(Tp)A No.2556/Bang/2019 Assessment Year : 2015-16

section 35 of the Income Tax Act on 31/03/2015 but no approval is granted till date. Considering the fact that the assessee has applied for recognizing its activities as “scientific research" and DSIR has not granted the approval even after four and half years clearly show that the assessee is not eligible for deduction under Sec 35. Hence this contention

WIPRO LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

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

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

section 35 of the Income Tax Act on 31/03/2015 but no approval is granted till date. Considering the fact that the assessee has applied for recognizing its activities as “scientific research" and DSIR has not granted the approval even after four and half years clearly show that the assessee is not eligible for deduction under Sec 35. Hence this contention

MR.RAHIL MAHESH KUMAR NIZAMUDDIN ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) CIRCLE-1(2), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2014-15

Section 54 of the Act 77,14,409/- 17, The Learned CIT(A) erred in failing to direct the Assessing Officer to give credit for the sum of Rs.77,14,409/- out of the sum of Rs.79,73,867/- being the Prepaid Taxes for A.Y.2015-16 when the AO has brought to tax the Long-Term Capital A.Y.2014-15 which is Gains

SRI. K. SATISH KUMAR,BENGALURU vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE-9, BANGALORE

In the result, the assessee’s appeal is allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2007-08

house property. The appeal is accordingly allowed and the decision of the High Court set aside. There will be no order as to costs." *underlining for emphasis” 6.2 Having regard to the parity of reasoning of the aforesaid decision of the Hon'ble Supreme Court in the case of AMIYA BALA PAUL (Supra), it is noted that a Valuation Officer

VIJAY LAKHMICHAND ISRANI,MUMBAI vs. ACIT, INTERNATIONAL TAXATION, CIRCLE-1(2), BANGALORE

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

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

35,023/-( 50% of 22,70,045) as cost of acquisition and accordingly, we allowed this ground of appeal of the assessee. 6.3 Now with regard to disallowance of Rs.25,72,807/- claimed towards cost of improvement, the AO from the computation of income seen that the assessee made an expenses of Rs.25,72,807/- towards items of personal effect

NISHA VIJAY ISRANI,MUMBAI vs. ACIT, INTERNATIONAL TAXATION, CIRCLE-1(2), BANGALORE

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

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

35,023/-( 50% of 22,70,045) as cost of acquisition and accordingly, we allowed this ground of appeal of the assessee. 6.3 Now with regard to disallowance of Rs.25,72,807/- claimed towards cost of improvement, the AO from the computation of income seen that the assessee made an expenses of Rs.25,72,807/- towards items of personal effect

KALKERE PUTTARAJU VAJRAMUNIE, ROYAL HERMITAGE, KALKERE B.O, KALKERE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 1(4) BANGALORE, BANGALORE, KARNATAKA

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K

house property and other sources and after claiming deduction under chapter VI-A of the Act disclosed taxable income of Rs. 24,55,060/- only. 26. The AO completed the assessment under section 144 of the Act assessing the total income at Rs. 24,79,352/- without allowing deduction as claimed and raised a demand of Rs. 9,85482/- consisting

KALKERE PUTTARAJU VAJRAMUNIE, ROYAL HERMITAGE, KALKERE B.O, KALKERE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 1(4) BANGALORE, BANGALORE, KARNATAKA

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K

house property and other sources and after claiming deduction under chapter VI-A of the Act disclosed taxable income of Rs. 24,55,060/- only. 26. The AO completed the assessment under section 144 of the Act assessing the total income at Rs. 24,79,352/- without allowing deduction as claimed and raised a demand of Rs. 9,85482/- consisting

Y. MANJULA REDDY vs. ITO,

In the result, the appeal filed by the assessee is treated as allowed and the appeal of the revenue is dismissed

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year: 2008-09

house property. Hence, it cannot be said that the third proviso to section 54F of the Act is violated. 15. With regard to the cost of acquisition of the building, the Ld. CIT(A) took the view that (a) the expenditure incurred on interiors, renovation, furnishing, etc. after registration of plot i.e. after 24.2.2007 cannot be taken as part