ACIT, MANGALORE vs. SRI. J. KRISHNA PALEMAR, MANGALORE

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

Bench: Shri N.V. Vasudevan & Shri Arun Kumar Garodiaassessment Year :2011-12

4) In addition to the above residential properties, the assessee has a residential property at 90B, Boloor Village, Mangalore purchased on 26-2-2010. This property has been explained as part of Chilimbi property by the assessee. As per the purchase deed of the property, it is a separate property situated on the land of 9.5 cent with residential building

SHRI. KOLA VENKAT RAMA NAIDU,BANGALORE vs. THE COMMISSIONER OF INCOME TAX (APPEALS) - 6, BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2010-11

house property and other sources filed return of income electronically for the assessment year 2010-11 on 13.10.2010 declaring income of Rs.54,34,810/-. A survey u/s 133A of the Income-tax Act,1961 ['the Act' for short] was conducted on 2.3.2015 at the business premises of the assessee. During the survey, the assessee was asked to explain the present

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", other than the new asset, the amount of capital gain arising from the transfer of the original asset not charged under section 45 on the basis of the cost of such new asset as provided in clause (a), or, as the case may be, clause (b), of sub-section (1), shall be deemed to Page

GOBINDRAM CHANDRAMANI VIVEK,BANGALORE vs. INCOME TAX OFFICER - WARD 1(1), BANGALORE, BANGALORE

In the result, the appeal of the assessee is allowed for statistical purposes, in the manner indicated in this order

Bench: Mrs. Beena Pillai & Shri Ramit Kochar

property" (hereafter in this section referred to as the original asset), and the assessee has within a period of [one year before or two years A.Y. 2011-12 Shri. Gobindram Chandramani Vivek after the date on which the transfer took place purchased], or has within a period of three years after that date [constructed, one residential house in India], then

M/S PRESTIGE ESTATES PROJECTS LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-18(1), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri N.V.Vasudevan, Vp & Shri Chandra Poojari, Am

Housing Society (2000) 3 Mah LJ 131]. It is precisely for this reason that the legislature has introduced section 2(47)(v) read with section 45 which indicates that capital gains is taxable in the year in which such transactions are entered into even if the transfer of immovable property is not effective or complete under the general law.”(emphasis

DEV KUMAR ROY ,BANGALORE vs. INCOME TAX OFFICER WARD-3(1)(1), BANGALORE

In the result, appeal of the assessee is partly allowed

Bench: Shri N.V. Vasudevan & Shri Jason P Boazassessment Year : 2012-13

property’. The statutory provision reads as follows:- “Section:54F: (1) Subject to the provisions of sub- section (4), where, in the case of an assessee being an individual or a Hindu undivided family, the capital gain arises from the transfer of any long-term capital asset, not being a residential house (hereafter in this section referred to as the original

M/S. MUKKA PROTEINS LIMITED (FORMERLY KNOW AS MUKKA SEA FOOD INDUSTRIES LTD., ),MANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, , MANGALURU

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Keshav Dubey

House, First Cross Central Circle-1 Vs. N.G. Road, Attavar Mangaluru Mangaluru 575 001 Karnataka PAN NO : AAGCM8310E APPELLANT RESPONDENT Appellant by : Sri Narendra Sharma, A.R. Respondent by : Ms. Neera Malhotra, D.R. Date of Hearing : 22.05.2024 Date of Pronouncement : 03.07.2024 O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: All these appeals by assessee are for the assessment years

BASHEER NOORULLAH KHAN,BANGALORE vs. COMMISSIONER OF INCOME TAX (APPEALS), BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadaleassessment Year : 2013-14 Shri Basheer Noorullah Khan, No. 116B, 5Th Block, Khb The Commissioner Of Colony, Koramangala, Vs. Income Tax (Appeals), Bangalore – 560 034. Bangalore. Pan: Ajxpk3037H Appellant Respondent Assessee By : Shri B.S. Balachandran, Advocate Revenue By : Dr. P.V. Pradeep Kumar, Addl. Cit (Dr) Date Of Hearing : 11.07.2019 Date Of Pronouncement : 31.07.2019

property", other than the new asset, the amount of capital gain arising from the transfer of the original asset not charged under section 45 on the basis of the cost of such new asset as provided in clause (a), or, as the case may be, clause (b), of sub-section (1), shall be deemed to be income chargeable under

MR. ARUNKUMAR NATHAN,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(3)(1), BANGALORE

In the result, the appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri Jason P Boaz

property must have been really and substantially purchased or constructed by the assessee for the immediate purpose of his own residence.” Thus in case where a residential house is purchased not for the end purpose of assessee's own residential house but only as an investment or earning income then the benefit of the provision under Section 54/54F would

BINDUMALYAM PANDURANGA ALLANHARINARAYAN ,BANGALORE vs. INCOME TAX OFFICER, WARD-5(2)(1), BENGALURU

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

4. The CIT(A) erred in holding that the maintenance charges of Rs.59,23,126 received from the tenant State Bank of India was assessable under the head income from house property. 13,47,060 5. The CIT(A) erred in holding that section 44AD does not apply to the maintenance charges received from State Bank of India

ITO, BANGALORE vs. SRI. C. NANJUNDIAH, BANGALORE

In the result we are of the opinion that assessee has to succeed in this appeal

Bench: Smt. P. Madhavi Devi

house property on 28.08.2010. Sub-section 4 of Section 54F reads as follows : ITA.733/Bang/2014 Page - 5 Sec.54F (4) The amount of the net consideration which is not appropriated by the assessee towards' the purchase of the new asset made within one year before the date on which the transfer of original asset took place, or which is not utilised

M/S K.BABU (HUF) ,BANGALORE vs. THE INCOME TAX OFFICER WARD-7(2)(3), BANGALORE

In the result, appeal of the assessee is partly allowed

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2010-11 Shri. K. Babu (Huf), Vs. The Income Tax Officer, No.57/2, Dollars Colony, Ward – 7(2)(3), 1St Cross, 2Nd Main, 4Th Phase, Bengaluru. J P Nagar, Bengaluru – 560 078. Pan: Aaggk 0809 G Appellant Respondent Appellant By : Shri. V. Narendra Sharma, Advocate Respondent By : Shri. Kannan Narayanan, Jt.Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 19.11.2020 Date Of Pronouncement : 19.11.2020 O R D E R Per N.V. Vasudevan

4. REGARDING POSSESSION The legal possession of the Schedule Property shall be with the OWNERS and the DEVELOPERS (in the capacity of licensee) have been duly authorised by the OWNERS to commence the development and construction work in the Schedule Property, getting the Schedule Property duly surveyed, arranging for spot inspection by competent Authorities, for construction and development, for fixing

RAVINDRA SUNKU,BANGALORE vs. ITO, BANGALORE

In the result, the appeals are partly allowed for statistical purpose

Bench: Shri Vijay Pal Rao

4 IT(I.T)A Nos.65 & 66/Bang/2015 property and accordingly rental income of the property as well as service charges of the property are equally shared by the assesses and offered to tax as ‘income from house property’. The learned Authorised Representative has referred to the rent agreement and service agreement and submitting that the separate agreements were entered into

MR. PRAKASH CHAND BETHALA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 7(1), BANGALORE

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2007-08

house for his own residential purpose, therefore, no transfer took place during FY 2006-07 and therefore, the question of offering the proceeds of transfer for capital gains tax does not arise in the A.Y. 2007-08. According to the CIT(A), the execution of sale deed by BDA in favour of the assessee took place only on 11.10.1995. Therefore

M/S. VIJAYANAGAR EDUCATIONAL TRUST,BENGALURU vs. THE COMMISSIONER OF INCOME TAX (EXEMPTION), BENGALURU

In the result appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Soundararajan K.Assessment Year: 2019-20

4 of 37 ITA No.2006 /Bang/2019 Page 5 of 37 ITA No.2006 /Bang/2019 Page 6 of 37 ITA No.2006 /Bang/2019 Page 7 of 37 ITA No.2006 /Bang/2019 Page 8 of 37 ITA No.2006 /Bang/2019 Page 9 of 37 ITA No.2006 /Bang/2019 Page 10 of 37 ITA No.2006 /Bang/2019 Page 11 of 37 ITA No.2006 /Bang/2019 Page

SMT.CHANDRAKALA SHASHIDAR ,BANGALORE vs. INCOME TAX OFFICER WARD-5(2)(4), BANGALORE

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

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

45; Provided that nothing contained in this sub-section shall apply where – (a) the assessee – (i) owns more than one residential house, other than the new asset, on the date of transfer of the original asset; or (ii) purchase any residential house, other than the new asset, within a period of one year after the date of transfer

SMT.ANUPAMA NAGESH,BANGALORE vs. INCOME TAX OFFICER, BANGALORE

In the result, the assessee's appeal is allowed

Bench: Shri Vijay Pal Rao

property", other than the new asset, the amount of capital gain arising from the transfer of the original asset not charged under section 45 on the basis of the cost of such new asset as provided in clause (a), or, as the case may be, clause (b), of sub-section (1), shall be deemed to be income chargeable under

DR. DEVIKA GUNASHEELA,BANGALORE vs. JCIT, BANGALORE

Bench: Shri N.V. Vasudevan & Shri A.K. Garodiaassessment Year: 2012-13

45 of the Act, any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B,54D, 54E, 54EA, 54EB, 54F, 54G and 5 Dr. Devika Gunasheela, Bengaluru Page 4 of 19 4H, be chargeable to income-tax under the head "Capital gains", and shall

SMT. A.P. LAKSHMI GOWRI,BANGALORE vs. ITO, BANGALORE

In the result, both the appeals of the assessee are partly allowed

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

house property, income from partnership firms in which they were partners and also income from other sources. They filed their return of income for the subject AY declaring a total income of Nil and Rs 2,68,920/- respectively vide their returns of income filed on 9th March 2010. The said returns of income were processed under section

SRI. A.R. PRASAD,BANGALORE vs. ITO, BANGALORE

In the result, both the appeals of the assessee are partly allowed

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

house property, income from partnership firms in which they were partners and also income from other sources. They filed their return of income for the subject AY declaring a total income of Nil and Rs 2,68,920/- respectively vide their returns of income filed on 9th March 2010. The said returns of income were processed under section